AAP

Shares close 38.1pts lower

The Australian share market has closed lower for the sixth consecutive session as gains among the major miners failed to offset falls by the big four banks.

BHP Billiton to axe more iron ore jobs

BHP Billiton won't confirm reports jobs have been axed at its Nelson Point operations in Port Hedland, but says some staff in the Pilbara town will be made redundant in coming months.

ACCC sues Woolies over faulty products

Australia's competition watchdog is taking Woolworths Holdings to court for selling faulty matches, deep fryers and other products.

Aust luck 'beginning to run out': Costello

Australia's longest-serving treasurer warns the country's luck is beginning to run out as wages fall and consumer pessimism grows.

More cost cutting planned for WA

The Western Australian government is poised to announce more cost-cutting measures as lower iron ore prices threaten to punch a big hole in the state's bottom line.

Economy expected to strengthen in 2015

Australia's economy is expected to pick up pace in early 2015 as consumers become more confident and start spending again.

Foreign investors own nearly 45% of Qantas

Foreign ownership of Qantas now stands at almost 45 per cent.

Shares open 15.6pts higher

After five straight sessions finishing lower, the Australian share market has opened higher on reports of a new Chinese stimulus plan and a rise in commodity prices.

$A surges toward 91 US cents

The Australian dollar has rebounded overnight, surging towards 91 US cents as the greenback takes a hit.

Gold prices boosted

Gold prices rose Tuesday, getting a boost from a shift in expectations for this week's Federal Reserve policy statement that also weakened the dollar.

US oil prices up almost $2

World oil prices have rebounded sharply after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015.

US stocks gain ahead of Fed announcement

Wall Street stocks have posted solid gains following reports of a new Chinese stimulus plan as investors awaited Wednesday's US Federal Reserve monetary policy announcement.

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Exporters

LabelValue
Rio Tinto$21.40bn
BHP Billiton Iron Ore$17.97bn
North West Shelf Venture$16.84bn
Fortescue Metals Group$8.12bn
Gold Corporation$5.81bn
Others$53.39bn
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