Top fund managers tell business it must earn its growthAustralia's top fund managers have warned the business world against expanding overseas too aggressively, especially
The share market has closed slightly lower as higher prices for iron ore and oil boosted most major mining and energy stocks, but the banks went backwards.
Gold has risen more than one per cent to a three-week high, bolstered by a weaker US dollar on declining expectations that the Federal Reserve will raise interest rates any time soon.
Stocks have broadly gained, helped by buoyant oil prices, a day after Federal Reserve Chair Janet Yellen pushed back expectations for an interest rate increase without raising concerns over the strength of the world's largest economy.
Gold has inched fractionally lower, but has held near the previous day's two-week high after the Federal Reserve further dampened speculation about an imminent US rate rise.
Stocks have gained on markets worldwide, while the US dollar edged lower against major currencies after Federal Reserve Chair Janet Yellen said US interest rate hikes are likely on the way, but made no reference to the timing of any increase.
Wall Street closed slightly higher, as fresh data gave a rosier view of the economy and further gains for healthcare shares countered declines in energy names.
Gold has turned negative, as the US dollar briefly pared losses following US manufacturing data and US equities came off their lows, while the market tried to assess how close the Federal Reserve is to raising interest rates.
US stock prices rose slightly on the back of a late rebound in oil prices and an encouraging economic report from the Federal Reserve, but equity prices in other major world markets fell on worrisome Chinese and European factory data.
The family of yet another great Western Australian entrepreneur appears set for a public fight over an inheritance, with the descendants of the late Len Buckeridge going to court over his $2.5 billion estate.
