AAP

Oil prices have edged higher as a US budget impasse continued and some production outages lingered in key Middle Eastern oil producers.

The Australian share market has closed lower as the political impasse in the United States over the budget and debt ceiling continues to spook investors.

Toro Energy shares are higher after the uranium mine developer upgraded the quality of resources at its Wiluna project in Western Australia.

New figures show that 12 per cent of homes sold in the three months ending June were sold for less than their purchase price, incurring a total loss of more than $500 million.

Job advertisements have risen for the first time in six months, a sign that the labour market is stabilising.

After welcoming Chinese investors to the Kimberley region, the Western Australian government is pitching the state's agribusiness opportunities to Vietnam and Thailand.

A trial involving Gina Rinehart, her children and a multi-billion dollar family trust fund has been delayed for several hours as a new trustee is appointed.

Five "super growth" industries could boost the national economy by $250 billion over the next 20 years.

Mining magnate Andrew Forrest will head up a federal government-initiated review into indigenous employment and training programs.

The Australian dollar is trading sideways amid growing concerns about the looming US debt ceiling deadline.

Gold prices have climbed as jitters over the continued US budget stalemate fanned interest in the haven asset.

US stocks have finished lower as a partial US government shutdown entered its second week with no sign of resolution.

Commodity price falls have driven local stocks lower despite the release of positive jobs numbers.

Greens WA senator Scott Ludlam is expected to find out mid-week whether his bid for a recount of senate votes is successful.

Jobs growth in September is not expected to have been strong enough to bring the unemployment rate down from its four-year high.

Bill Shorten wants to develop a national rehabilitation strategy to ensure injured workers and people on disability pensions can get back to work.

Woodside Petroleum has started up its $5 billion North Rankin redevelopment project and exported its first gas to the Karratha gas plant.

The share market has opened flat, with little to prompt investors as several Australian states enjoy the Labour Day public holiday.

Interim Labor leader Chris Bowen says the series of revelations about Prime Minister Tony Abbott and four other MPs claiming around $20,000 in travel expenses shows a pattern of poor judgement.

The lawyer leading a class action against construction giant Leighton has accused it of falsely playing down its involvement in corruption last year, leading to massive share price falls.

Energy chiefs anticipate a major industry shakeup in the decade ahead as more shale gas and renewable power becomes available.

US Treasury Secretary Jack Lew has warned that Congress is "playing with fire" as Republicans raise the threat of a US default if President Barack Obama refuses to negotiate on spending.

Construction is at a three-and-a-half-year high thanks to the continuing recovery of the housing sector.

From Saturday 5th of October:

Gold prices have declined as investors remained upbeat about an eventual resolution to the US budget impasse that has kept the federal government shut down for four days.

The Australian dollar is virtually unchanged due to quiet trade on the Labour Day public holiday and uncertainty over the US government shutdown.

More than $957 million has been wiped off the market value of construction giant Leighton as investors worry about the impact of corruption allegations.

Prime Minister Tony Abbott says there will be issues negotiating with Clive Palmer and his senators, and has fired a warning shot across the bow of the Titanic II developer.

Supermarket giant Woolworths has announced it will phase out the sale of eggs from caged hens by 2018 in a move that has frustrated the egg industry.

The declaration of the official senate result in Western Australia has been postponed while the electoral commissioner decides whether to grant an appeal by Greens senator Scott Ludlam and allow a

The Australian share market has closed lower as investors become increasingly concerned that the budget impasse in the United States may lead to the US defaulting on its debts.

Australian stocks are weaker as investors grow increasingly concerned about the US government shutdown and the possibility the country will end up defaulting on its debt.