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Car maker Ford's Australian business is facing legal action for allegedly giving customers the bum steer about "systemic issues" around transmissions in several of its models and blaming drivers for the problem.
Oil rose 3.3 per cent on Tuesday to the highest close in more than a month, a day after US oil producer Anadarko said it would cut capital spending plans and Saudi Arabia vowed to reduce crude exports to help curb global oversupply.
Oil has risen more than 1 per cent, after leading OPEC producer Saudi Arabia pledged to cut exports in August to help reduce the global crude glut, and Halliburton Co's executive chairman said the US shale drilling boom would probably ease next year.
Gold prices have pared gains as the US dollar has turned slightly higher, after bullion rose to a one-month high as political turmoil in the United States boosted sentiment ahead of a Federal Reserve monetary policy meeting this week.
Oil prices have slid, settling about 2.5 per cent lower after a consultancy forecast a rise in OPEC production for July despite the group's pledge to curb output, reigniting concerns the global market will stay awash with crude.
The Australian share market has closed lower as investors took profits, and the Australian dollar has retreated as Reserve Bank of Australia deputy governor Guy Debelle hosed down speculation that the RBA was moving towards hiking interest rates.
Fortescue Metals Group is likely to lodge an appeal after the Federal Court recognised the Yindjibarndi people have exclusive rights over Pilbara land where the company operates the Solomon iron ore operation.
Gold prices rose to a three-week high after European Central Bank President Mario Draghi said ECB policymakers would discuss potential changes to the bank's bond-buying scheme in the autumn, lifting the euro to a 14-month high.