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US stocks have tumbled more than 1.5 per cent as a pullback in petroleum stocks sparked a sell-off in the broader market.

Houses sales flattened off this week and sit just 2 per cent above the average of 562/week for the year, which is unlikely to change much with only two weeks remaining in 2014.

The Australian dollar has slipped back below 83 US cents as oil prices come under further pressure after OPEC cut its 2015 demand forecast.

Oil prices have sunk to new five-year lows with the US benchmark West Texas Intermediate crude nearly hitting $US60 a barrel, 40 per cent down from just six months ago.

Gold prices have retreated from a six-week high, as some traders take profits on the recent rally and others adjust their expectations for the timing of interest-rate increases in the US.

West Perth-based Red Fork Energy, which has raised $125 million from investors over the past three years to support its shale drilling program in the US, has collapsed after losing the support of its major lender.

A private investor has snapped up Fremantle’s Woolstores Shopping Centre for $40 million, in a deal brokered by commercial agency JLL.

Tony Abbott may believe 2014 has been a year of achievement for his government, but its legislative shortcomings are all-too apparent.

The state opposition claims the MAX Light Rail project is doomed, after a Parliamentary Estimates hearing was today told the government was considering constructing an underground rail line to service the same transport corridor.

Domestic tourists spent $4.6 billion while visiting Western Australia in the year to September, which was 12 per cent more than the previous year and three times the average increase nationally.

Resource Development Group has been assigned two construction contracts for Chevron’s Gorgon LNG project, following the demise of Killarnee Civil & Concrete Contractors.

Australia’s free trade agreement with China is likely to deliver significant benefits to agricultural exporters but the gains will be mainly indirect and apparent over the longer term, a report by Rabobank has concluded.

A subsidiary of Perth company Liquefied Natural Gas has filed for a permit to export gas from the US to a planned LNG plant in Canada.

A slump in consumer sentiment and fears commodity prices will continue to tumble have driven the Australian share market lower.

Movie companies may soon be able to get court orders requiring Australian internet providers to block foreign illegal download websites.

Mt Pleasant-based gold junior Alloy Resources is up 28.6 per cent today after a find at its Horse Well joint venture with Doray Minerals.

Could health insurance follow the superannuation sector, where industry funds have collectively taken on private retail players? WA’s biggest fund, HBF, is leading a national alliance of not-for-profit health insurers, which are now a minority following the recent privatisation of Medibank Private.

The state government has rezoned almost 200 hectares of land to industrial uses in Hazelmere, north east of Perth Airport.

Mackerel Island Tourist Resort, off the coast of Onslow, has begun powering itself from one of Australia’s largest off-grid solar power station.

China's consumer inflation fell to a five-year low of 1.4 per cent in November, the government says, amid concerns over the risk of deflation in the world's second-largest economy.

The number of new home loans in October has bounced back after two months of falls.

Energy infrastructure business APA Group has announced the purchase of the QCLNG pipeline in Queensland for $US5 billion ($A5.41 billion).

Australian consumers are the gloomiest they have been in three years.

Vacuum cleaner retailer Godfreys Group has made a strong start to trade on the share market.

The Australian sharemarket has continued its slide following fresh concerns about political instability in Greece.

Wall Street stocks have shaken off much of the negative momentum from Asian and European equity markets, finishing the day mixed after a bruising open.

The Australian dollar is firmer as profit takers sell the greenback.

Global oil prices have rallied modestly from five-year lows after a US agency trimmed its forecast for 2015 US output because of drilling-budget cutbacks.

Gold futures have surged to their highest level in more than six weeks as losses in US stocks and the greenback stir up investor appetite for haven assets.

Many businesses are just starting to realise just how important that statement is. For example, Coles is currently paying a high price for not having a fully accessible website.

Gold developer Norton Gold Fields has taken a stake of 10.8 per cent in Phoenix Gold, but has clarified it has “no present intention to make a takeover offer”.

The City of Stirling has announced its intention to build a $26 million pool at Scarborough Beach, amid the final planning stages of the Metropolitan Redevelopment Authority’s revitalisation of the area.