Government

Oil prices tumbled more than five per cent overnight, falling for the third straight session as the market grappled with reports that US supply would continue to surge even if demand weakens as global growth deteriorates, which many expect.

The benchmark S&P 500 stock index has ended little changed in a choppy trading session on Tuesday as the possibility of a partial US government shutdown raised investor jitters ahead of a highly anticipated meeting of the Federal Reserve.

Domestic gas has started flowing from Woodside Petroleum's Pluto plant near Karratha today, around six years after LNG exports from the facility got under way.

The state government has announced a delay of up to 12 months at the Forrestfield-Airport Link due to tunneling issues, but says the rail project's $1.9 billion budget will not be impacted.

Domestic and international events are on a collision course, with 2019 to pose a plethora of challenges for business leaders.

PM's $9.2bn tax cut plan for election

Wall Street's major indices have slid more than two per cent, with the benchmark S&P 500 closing at its lowest level in 14 months, on concerns of slowing economic growth before a decision from the Federal Reserve this week on the course of interest rate hikes.

Gold has risen as a slide in the US dollar makes bullion more attractive for holders of other currencies, while some investors have taken cover as stocks globally slipped into the red ahead of the US Federal Reserve's two-day policy meeting.

Oil prices fell about one per cent overnight on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand.

SPECIAL REPORT: Mathias Cormann has been deeply entwined in the federal government's fortunes this year, while a win on GST distribution has boosted standing for Mark McGowan and Ben Wyatt.

Coalition $30bn in the black

Wall Street's three major indexes tumbled and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown.

Gold has fallen to its lowest in over a week and was on track to mark its biggest weekly decline in more than a month, as the dollar climbed on robust US economic data ahead of a US Federal Reserve meeting next week.

Oil prices have dropped about two per cent, weighed down by falling US stock markets, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.

Older coal fired power stations such as Synergy's Muja C&D could begin closing in 2023, driven by changing market dynamics, while harsher carbon policies would accelerate shutdowns, according to a recent report by the Australian Energy Market Operator.

Opinion: With the government seemingly on track to delivery a budget surplus, one key aspect of the Langoulant review is worth another look.

Corporate tax take increases by 19 per cent

Gold eased to its lowest level in nearly one week overnight as the dollar rose and investors latched on to gains in global stocks, while palladium touched record highs on expectations of higher demand for the auto-catalyst metal.

Premier Mark McGowan has reallocated six portfolios within his cabinet, including the energy portfolio being transferred from Treasurer Ben Wyatt to Mines and Petroleum Minister Bill Johnston.

GIC backs $326m buy as mining cities regain lustre

Gold prices edged higher as the dollar slipped overnight and expectations for the number of US interest rate hikes next year dimmed, increasing the appeal of non-interest yielding bullion.

Oil prices have risen, bolstered by export cuts from Libya and planned OPEC-led production cuts, pulling back briefly after the United States reported a smaller-than-expected crude inventory drawdown.

US stocks have closed up, though well below their session highs as investors pulled back in the last few minutes of trading despite optimism about US-China trade relations and some reassuring signs in British politics.

Fremantle's port has room to grow container trade, possibly for three decades, according to a new report by the state government's Westport taskforce, but freight infrastructure improvements are needed in the short term at Fremantle, Bunbury and Kwinana.

The state government has voiced its frustration at the Commonwealth's decision to choose Adelaide as the home of Australia's $41 million space agency.

Financiers take control of $61 million Park Avenue apartment complex

Gold is holding steady near a five-month peak as expectations for fewer interest rate hikes by the US Federal Reserve next year supported the non-yielding precious metal.

Oil futures pared most of their gains overnight as stock markets turned negative on worries about a possible US government shutdown.

The S&P 500 and the Dow have closed marginally lower after volatile trading as investors swivelled their focus between China-US trade talks, President Donald Trump's threat to shut down the US government and political uncertainty in Britain.

Opinion: Two high-profile billionaires have the state government in their sights, and Premier Mark McGowan has some tough decisions ahead.

Australia seeks more of lithium battery pie

Gold edged lower as the US dollar firmed against the pound on doubts about Britain's departure from the European Union, but falling equities and prospects of a slower pace of US interest rate hikes in 2019 kept bullion near a five-month peak.