AAP

US stocks have fallen sharply, with losses deepening after the US Federal Reserve trimmed its monetary stimulus for the second month in a row.

The Australian dollar is back below 88 US cents following interest rate hikes in Turkey and South Africa and the US Federal Reserve's tapering announcement.

US oil prices have slipped after an unexpectedly large rise in US crude inventories.

Australia's second largest DSL internet service provider iiNet has taken a swipe at NBN Co, saying it has ignored input from industry experts while devising its new corporate plan.

Unions have launched a counter-attack over claims of corruption and misconduct, as the Abbott government considers how widely to extend a new inquiry.

The share market has closed higher after the central banks of India and Turkey lifted interest rates to counter a sell-off in their currencies and ease investors' concerns about the stability of emerging markets.

A slowdown in China could still be good news for Australia, a leading economist says.

Mid-tier iron ore miner Atlas Iron has lifted its forecast for shipments of iron ore in its 2014 financial year and says prices for the commodity are strong.

Oil and gas producer Drillsearch Energy has increased its 2014 production guidance by around a million barrels.

Australian shares are firmer, despite bank stocks being mixed as investors remain anxious ahead of the US central bank's expected decision to keep tapering its stimulus measures.

US stocks have finished solidly higher following a mixed bag of economic data and earnings reports, snapping a five-day losing streak for the Dow Jones Industrial Average.

The Australian dollar remains above 87 US cents following a surprisingly strong business conditions survey and weaker data out of the US.

Gold prices have slipped as equity markets bounce back from multiple losing sessions, and gold investors wait for a signal from the US central bank on the direction of its economic stimulus program

BC Iron has reaffirmed its full year sales guidance for its Nullagine joint venture project with Fortescue Metals Group.

Home entertainment retailer JB Hi-Fi's 10 percent profit increase has been welcomed by shareholders, adding more than $90 million to its market value.

The Australian share market clawed back some of its earlier losses but still closed lower on Tuesday on the back of investor concern over emerging markets.

Australian stocks have fallen heavily after resuming trade after the Australia Day public holiday, due to a recent sell off on Wall Street.

US stocks have finished lower again as investors anxiously awaited a busy week of economic news that includes a US Federal Reserve policy meeting.

More turbulence in global financial markets has helped press oil prices lower amid rising concerns for global economic growth.

The Australian dollar has bounced as investors take profits following the currency's fall last week.

The Abbott government will launch a royal commission into union corruption which goes further than the coalition flagged before the federal election.

The Australian dollar has sunk below 87 US cents for the first time in three-and-a-half years.

Treasurer Joe Hockey has warned of volatile economic times ahead, but says the trend is favouring a stronger global economy.

A City of Perth senior project officer tasked with overseeing major projects has been charged with two counts of corruption relating to CBD capital works.

Exploration spending in the Western Australian oil and gas sector dropped by more than 10 per cent in the September quarter.

The Australian stockmarket has closed lower after disappointing Chinese manufacturing figures caused a sell off.

Shares in engineering company Forge Group have been placed in a trading for the third time in as many months ahead of an update on its earnings.

Australian shares are weaker, following surprisingly weak Chinese manufacturing data.

Qantas' finance chief has taken a swipe at the airline's "armchair expert" critics and defended its profit-draining strategy of maintaining a 65 per cent market share.

Gold futures have risen to the highest price in more than nine weeks, taking cues from a retreat in the US dollar after weaker economic data.

US stocks have sunk following a weak report on Chinese manufacturing activity and the latest batch of lacklustre corporate earnings.

The Australian dollar has been weakened by surprisingly soft Chinese manufacturing data.