AAP

Shares close nearly 3% lower

The Australian share market has closed 2.8 per cent lower, with investors heading for the exits following brutal offshore sessions.

Ferrovial mulls Broadspectrum bid

A planned $692 million takeover of Broadspectrum hangs in the balance amid uncertainty about its federal government contract.

Cash Converters secures $100m loan

Cash Converters International has secured a new $100 million loan with Fortress Investment Group to support the lender and second hand good retailer's future growth.

Shares open 80pts lower

The Australian share market has opened more than 1.5 per cent lower following sharp overnight falls in New York as investors fret over global economic growth prospects.

US stocks plunge on global growth worries

US stocks have fallen as concern over global economic growth hit banks and other economically sensitive shares.

$A slips amid ongoing global volatility

Australian dollar has slipped amid pressure from weaker commodity prices and global volatility.

Gold soars on market uncertainty

The price of gold has jumped two per cent to a seven-and-a-half-month high, briefly nudging above the psychological level of $US1,200 an ounce, as sliding stock markets and worries over global economic growth prompt investors to seek safety.

Govt delays new detention centre contract

The company operating Australia's Nauru and Manus Island detention centres has had its contract extended but is no longer the sole preferred bidder for the next five-year deal.

Shares close 0.8pts lower

The Australian share market closed broadly flat as falls across the banking sector were offset by gains in resource companies.

New downgrade for ‘busted' state

Ratings agency Moody's has downgraded Western Australia's credit rating to Aa2, reflecting an ongoing deterioration in the state's finances and concern that the government will be unable to meet its own spending targets.

JB Hi-Fi lifts profit

JB Hi-Fi expects continual expansion of its home appliance business to cushion it from a competitive electronics market.

Asciano backs revised Qube bid

The long-running takeover battle for Australian rail and ports operator Asciano is set to intensify after the consortium led by QUBE Holdings improved on its offer price.

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Exporters

LabelValue
Rio Tinto$24.61bn
BHP Billiton$21.42bn
North West Shelf Venture$16.37bn
Fortescue Metals Group$9.91bn
Woodside Petroleum$7.42bn
Others$113.89bn
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