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The Australian share market has suffered its biggest loss since December 10, with every sector deep in the red after signs that China is striking back against the US in their escalating trade war.

Rio laments ‘lost decade in exploration’

Oil prices gained about 3.0 per cent on Friday a day after recording their biggest daily drop in several years on US President Donald Trump's vow to impose more tariffs on Chinese imports.

Gold steadied on Friday in seesaw trade as the US dollar retreated on lacklustre US jobs data, putting bullion on course to notch its best week in six weeks following a surge of more than 2.0 per cent in the previous session as US-China trade relations soured further.

US President Donald Trump has sent markets around the world into turmoil with tweets threatening to raise tariffs on China - although Australia's share market emerged less scathed than others, helped by a surge in gold stocks.

Around 38,000 homes in the western suburbs and Fremantle area have been left without power for hours, after a widespread outage hit much of the area this morning.

Australian bond yields suffered their biggest one day fall in more than three years, hitting fresh all-time lows as investors flocked to them on US President Donald Trump's threat to impose higher tariffs on China.

Retail recession causes $437m write-down of DJs

Oil prices plummeted more than seven per cent overnight, with the US benchmark posting its worst day in more than four years after President Donald Trump said he would impose additional tariffs Chinese imports starting on September 1.

Gold rose nearly two per cent overnight after US President Donald Trump said he would impose additional tariffs on Chinese imports, renewing trade tensions between the two countries and dragging the US dollar down from two-year highs, sending bond yields lower.

The Aussie dollar has sunk to its lowest level against its US counterpart in a decade, and the Australian sharemarket has also finished lower, after the US Federal Reserve said its interest rate cut is unlikely to be the first of many.

Roe 8 to roll without toll: Libs

Oil prices rose for a fifth day overnight following a larger-than-expected drop in US inventories and after the Federal Reserve cut US interest rates for the first time in more than a decade.

Gold prices fell overnight after the US Federal Reserve cut interest rates for the first time since 2008, as markets priced in the move and a lack of dovish outlook failed to cheer investors.

The Australian share market has pulled back from its record highs despite gains for the energy sector.

The Australian share market has opened lower amid early losses in the heavyweight mining and financial sectors.

Data snooping free-for-all

Oil prices rose about two per cent overnight to a two-week high on optimism the US Federal Reserve will cut interest rates this week for the first time in more than 10 years, boosting demand expectations in the world's biggest oil user.

Gold prices steadied overnight ahead of the conclusion of the Federal Reserve's two-day policy meeting as investors awaited more information on the outlook for interest rate cuts by the US central bank.

The Australian share market has hit its highest levels ever, eclipsing a mark set just before the global financial crisis more than 11 years ago.

Horizon Accountants and Advisory has had an application for an injunction against former employee Raj Rajakaruna denied, after having accused him of breaching contractual non-solicitation and confidentiality clauses.

The Australian share market's benchmark index has hit an all-time high after the S&P/ASX200 broke through a record set more than 11 years ago.

BHP opts to sell lower-grade iron ore

Oil prices rose overnight as the prospect of an expected interest rate cut by the US Federal Reserve overshadowed pessimism over US-China trade talks and worries about slower global economic growth.

Gold prices firmed overnight on expectations of a rate cut by the Federal Reserve this week while investors awaited cues on the future trajectory of monetary easing by the US central bank.

Premier Mark McGowan and Minister for Transport Rita Saffioti attacked opposition leader Liza Harvey today for her support of the Perth Freight Link, criticising the previous Liberal government and Ms Harvey's stance on tolls.

The Australian share market has posted solid gains, with the benchmark S&P/ASX200 index ending the day less than three points from its best closing price ever.

Building market still to fall

Oil prices inched up on Friday, ending the week higher after stronger-than-expected US economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply.

Gold prices rose on Friday after slipping to more than one-week lows in the previous session as soft US inflation numbers offset better-than-expected second-quarter economic growth that kept bets alive for an imminent interest rate cut.

The Australian share market has finished broadly lower, despite gains for the mining and energy sectors.

Sodexo Australia, one of WA's largest employers, announced a partnership with The Clontarf Foundation this morning as part of its Elevate Reconciliation Action Plan.