AAP

Quickstep Holdings has signed a $75 million agreement with US aerospace giant Lockheed Martin to supply wing flaps for C-130J Hercules transport aircrafts.

Production has been suspended at German chemical giant BASF's Hutt Lagoon site in Western Australia's mid west after thousands of litres of hydrochloric acid spilled from a tank at the site.

The Australian share market has closed almost flat, with investors running out of steam after a strong start.

Seven Group Holdings subsidiary WesTrac China will pay $US130 million ($A143 million) to acquire Caterpillar Global Mining's distribution and support business in north eastern China.

The Australian market was making gains in a surprisingly strong start in trading after a flat open had been tipped.

Senior opposition figure Penny Wong claims some coalition government ministers are championing the closure of Holden.

The Australian dollar is higher amid strong data out of the US and China and a more optimistic global economic outlook.

Brent oil prices have slumped following news of weaker German industrial output, while New York crude futures dipped slightly.

US stocks have edged higher as a Federal Reserve official suggested that the central bank could take a small step next week to reel in its stimulus program.

Telecom Corp has sold its Australian AAPT unit for $450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would go for.

Jobs advertised on the internet and in newspapers fell for the second consecutive month, and there are no clear signs of the labour market bouncing back in the coming months.

Australia have needed only 11.4 overs on the final day of the second Test to take England's remaining four wickets and claim a two-nil lead in the Ashes series.

The future of Holden will be on the agenda of a meeting between Prime Minister Tony Abbott and South Australian Premier Jay Weatherill on Thursday.

Australian shares have lost ground after insurer QBE flagged that it would post a $250 million loss for calendar 2013, prompting shocked investors to wipe more than $4 billion from the value of one of the ASX's 20 biggest companies.

The Australian share market is slightly lower as investors put aside good US jobs figures and strong Chinese trade data and focus on a shock profit warning from insurer QBE.

From Saturday, December 7:

Gold futures have eased as investors try to determine what impact the continued gains in US hiring will have on the timing of a reduction in Federal Reserve stimulus.

The Australian dollar has jumped more than three-quarters of a US cent after surprisingly strong Chinese trade data and good US jobs figures.

Electoral commissioner Ed Killesteyn is under pressure to quit after an inquiry found serious flaws in the Western Australian Senate election count, which could lead to $13 million being spent on a fresh poll.

The Australian share market has closed lower as financial stocks dragged down the bourse ahead of the release of important jobs numbers in the US.

The days of big shopper docket fuel savings are over after Coles and Woolworths agreed to limit discounts to four cents a litre.

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.