News

Australian shares have opened higher with the big miners driving the market on surging gold, copper and iron ore prices.

Red alert on train deal

Oil prices have gained more than two per cent after the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move likely to reduce the OPEC member's crude exports and relieve some global oversupply worries.

Gold has jumped to its highest in more than eight-months, on doubts surrounding US-China trade relations and ahead of a Federal Reserve meeting with increasing expectations for a pause to the central bank's rate hike trajectory.

Wall Street has been mixed, with technology shares dipping before Apple's quarterly report while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average.

The Australian stock market has closed lower, weighed down by the heavyweight financials and ailing healthcare shares.

Marine services company TAMS Group has been awarded the tender for the replacement of Berth 3 deck and fender in Port Hedland six months after previous contractor York Civil went into administration.

Tech millionaire Eugeni “Zhenya” Tsvetnenko was denied bail this morning at the Perth Magistrates Court after being arrested on fraud charges in the United States.

Australian shares have continued to slip under pressure from the heavyweight financial sector, while subdued business confidence has hit the local dollar.

Gresham powers up Perth Energy auction

US stocks have tumbled after warnings from Caterpillar Inc and Nvidia Corp added to concerns about a slowing Chinese economy and tariffs taking a bite out of US corporate profits.

Gold was little changed on Monday, hovering near the $US1,300 mark as investors awaited further developments on the US-China trade dispute and the Federal Reserve's interest rate trajectory.

Oil has fallen more than three per cent, heading for its biggest one-day percentage drop in a month due after an increase in US crude drilling pointed to further supply growth.

The Australian share market has powered into Friday's close on a ten-week high thanks to strong performances by the energy and financial sectors despite AMP's woes.

AMP has flagged a 96 per cent drop in full-year profit and a drastically smaller final dividend after confirming it will set aside another $200 million to cover the cost of customer remediation related to issues heard at the banking royal commission.

The Australian share market has inched higher bolstered by strong gains in the energy sector as oil prices continue to climb.

Query over Fotios’ gold play

Gold has steadied following initial losses, supported by uncertainties surrounding the government shutdown in the United States and its trade relations with China, but gains were capped by a stronger dollar.

US oil prices have risen by one per cent, boosted by the US threat of sanctions on Venezuela, but gains were capped by record high gasoline inventories and an unexpected big build in crude stocks in the United States.

Former advertising executive Al Taylor has been appointed chief executive of hospitality and brewing business Triple-1-Three, which was set up by former Sunset Events directors David Chitty and James Legge.

The Australian share market has inched higher thanks to a buoyant energy sector, although financial and mining stocks are keeping overall gains in check.

The Morrison government is considering pre-election cash handouts to pensioners and families in an effort to make sure the entire electorate will have a reason to vote for the Coalition, not just those who will benefit from already legislated tax cuts.

Gold prices have steadied, clawing back from losses made earlier in the session, as a recovery in stock markets fizzled out on concerns over geopolitical and economic uncertainty, triggering investors to seek safety in the metal.

Oil prices have fallen, following most US stock markets lower, on concerns about global economic weakness, forecasts for record US shale production and declining US gasoline prices.

US stocks have risen as strong earnings from IBM, United Technologies and Procter & Gamble led a rebound for Wall Street from its second biggest decline in 2019.

The Australian share market has clawed back some of its earlier losses to close lower with the financial and energy sectors weighing the heaviest. 

The state government has announced an inquiry into the deliberate underpayment of wages and entitlements to employees, also known as wage theft.

Commodity-related stocks and financials continue to weigh on the Australian share market but the healthcare sector has climbed into the day.

Shadow treasurer Chris Bowen has said he is concerned about risks to Australia from the slowing world economy, so Labor must implement all its $200 billion-plus in pledged tax rises to arm the federal government with a bigger fiscal ‘‘buffer’’ to counteract any global downturn.

Oil prices dropped about two per cent overnight due to concerns the world's stumbling economy could pinch fuel demand as US shale fields surge and cuts by Russia come in below expectations.

Gold held firm overnight, propped by interest from investors seeking refuge from concerns over slowing global growth, while gains for the metal were limited as the dollar held near a multi-week peak.

US stocks have ended lower, snapping a four-session rally, as a gloomy global economic growth outlook, trade concerns and disappointing company forecasts dampened sentiment.