AAP

Prime Minister Tony Abbott has rejected spending more public money to keep Holden operating in Australia, amid reports the car maker's American parent company General Motors wants to close Australian operations by 2016.

Ratings agency Standard and Poor's has lowered its credit rating for airline Qantas to BB+, which is considered below investment grade.

The Australian market has opened lower, continuing a trend down since October with investors taking profits.

Gold prices have fallen after upbeat US economic data supported investor expectations for a reduction in Federal Reserve stimulus.

US stocks have declined again after surprisingly good US economic growth in the third quarter raised expectations the Federal Reserve will hasten a plan to scale back aggressive monetary stimulus.

The Australian dollar is firmer as traders take a sceptical view of the fastest US economic growth pace in almost two years.

The Australian share market fell heavily in afternoon trade after starting the day flat.

Inspectors from the Department of Mines and Petroleum are investigating the death of a contractor at Newcrest Mining's Telfer gold mine in the Pilbara.

Qantas will cut at least 1,000 jobs as it works to save $2 billion over the next three years after announcing it expects to post a half-year loss of up to $300 million.

The Australian sharemarket has opened slightly lower with overnight falls in overseas markets offset by strong commodity prices.

Gold and silver futures have rallied as some bearish investors rush to reduce their wagers after the precious metals showed strength in the face of brighter economic data.

US stocks have ended mostly lower after markets weighed a stream of generally solid economic data ahead of Friday's big jobs report.

The Australian dollar has fallen as low 90 US cents for the first time in three months following a surprisingly strong US private employment report.

Billionaire Richard Branson has urged the federal government to resist helping Qantas, saying the airline's management and service are to blame for its financial woes.

Oil and gas explorer Buru Energy has engaged international water consulting and engineering firm MWH Global as it looks for gas resources in north Western Australia.

The Australian sharemarket has finished higher, bringing three days of losses to an end as the big miners fired on all cylinders.

Mining magnate Clive Palmer has been appointed to two key parliamentary committees dealing with economic matters.

A lacklustre stockmarket debut by Dick Smith Holdings has drawn unfavourable comparisons with fellow retailer Myer's poor listing four years ago.

Treasurer Joe Hockey says the latest economic growth figures point to another deterioration in the federal budget.

The federal Labor party says it will back a cash bidding system for offshore oil and gas exploration permits.

Australian stocks have started the week on a flat note, despite mining stocks receiving a boost from positive Chinese economic data.

Shopping centre giant Westfield Group will split its Australian and New Zealand assets from its international business as it continues to pursue growth overseas.

US stocks have fallen for a second day in a row as speculation increased that the US Federal Reserve will soon scale back its bond-buying program.

Gold prices have slipped, while silver notched a new four-and-a-half-month low, as the potential boost from a weaker US dollar struggled with pressure from worries about when the Federal Reserve wi

The Australian dollar has moved above 91 US cents as traders take profits on the greenback and prepare for key American employment data.

The Australian share market closed lower for the third straight day, led down by the major miners and banks.

Retail spending rose for the fourth month in a row as consumer confidence and recent interest rate cuts encourage Australians to spend.

A leading business group is hopeful that tax benefits aimed at small firms and tied to Labor's mining tax will be retained in the May budget.

The Reserve Bank of Australia has kept the cash rate at 2.5 per cent, saying the global and local economic outlook is improving.

Rio Tinto has announced plans to cut capital expenditure by more than 20 per cent per year out to 2015, but beyond then will need to consider major new projects to support its growth objectives.

The Australian stockmarket is flat following a weak lead from Wall Street and ahead of the Reserve Bank's monthly interest rate decision.

Virgin Australia will proceed with its planned $350 million equity raising after the move received the green light from the Takeovers Panel.