Gold has risen as the US dollar has receded slightly and stocks have fallen globally, though expectations that the US Federal Reserve will raise interest rates next week has kept gains in check.
The Australian share market has closed almost 1 per cent lower as a steep slide in oil prices and a weaker price for iron ore weighed on the energy and mining sectors.
US stocks have fallen, led by the S&P energy index's biggest one-day percentage drop since late August as oil prices slid to their lowest point in nearly seven years.
Oil prices have skidded to their lowest level in nearly seven years, hurting the shares of major oil companies on Wall Street as a global glut showed no signs of abating, while European stocks benefited from a weaker euro.
Gold has fallen more than one per cent from the prior session's three-week high, after the US dollar gained from Friday's upbeat US jobs data that reinforced expectations the Federal Reserve will raise interest rates next week.
Tax breaks for risk-taking businesses and a boost in science spending lie at the heart of a four-year $1.1 billion innovation package designed to drive an "ideas boom" in Australia.
Gold has risen more than two per cent to its highest in nearly three weeks after a US non-farm payrolls report, seen as likely to pave the way for the US Federal Reserve to raise interest rates this month, failed to aid the US dollar's ascent.
Approval has been granted for the first in a series of state government asset sales, with legislation to sell Market City passing parliament after a debate that went until almost dawn.
Western Australians won't get their long-awaited access to Elizabeth Quay until the end of January, with the state government today confirming the project won't be finished in time for Christmas.
The inclusion of the family home in means testing for the age pension would be one of a number of ways to pare back a recent expansion of middle and upper class welfare, according to two recent reports.
US and European stocks have closed down sharply and the euro enjoyed its biggest one-day percentage rise in well over six years as investors reacted to the European Central Bank's latest policy easing measures.
Gold has bounced from near six-year lows in line with a sharp rebound in the euro, rising one per cent after the European Central Bank (ECB) announced the minimum cut in its deposit rate that investors had been expecting.
Andrew Forrest wants Australia's looming free trade agreement with India to include a commitment to tackling modern slavery within the world's seventh largest economy.
Analyst firm EnergyQuest has predicted lower liquefied natural gas prices will not lead to Australian operations switching off or cutting back production, in its latest quarterly review of the industry.
Long-time Liberal frontbencher Ian Macfarlane has moved to the Nationals, just weeks after he lost his role as minister for industry and science in Malcolm Turnbull's cabinet reshuffle.
Perth venture capital firms have welcomed government measures today that will allow small businesses to raise money by crowd-sourcing, but criticised them for not going far enough.
Gold fell to its lowest in nearly six years, extending losses as Federal Reserve Chair Janet Yellen said she was "looking forward" to an interest rate hike that will mark the US economy's recovery from recession.
The Australian dollar is flat after heightened speculation about a US interest rate hike caused the currency to lose all the gains made on the back of local economic growth data.
Consulting firm Deloitte has picked ten trends which it says will dominate the mining industry in 2016, including further pressure for producers to reduce costs and adoption of innovations from other industries.
