News

Fallen Nationals MP Andrew Broad is quitting politics to ensure he doesn't remain a diminished figure and "half-laughing stock" in parliament, after a scandal involving a younger woman.

The Australian share market is chasing Wall Street lower as a revenue warning from tech giant Apple stokes fears of a global economic slowdown.

Miners' shares soar as $A gold price hits record high

Gold prices have climbed to a six and a half month peak, moving closer to the key $US1,300 an ounce level, as concerns about economic slowdown gripped global markets and fuelled demand for safe-haven bullion.

Oil prices have risen more than one per cent in a session of volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns that slowing global economic growth could dent demand.

About 85 severely dehydrated cattle had to be put down and hundreds more were found already dead at a pastoral station in Western Australia's north.

The ASX has surged ahead with gains across all the major sectors, while the Aussie dollar has mostly rebounded from a flash crash that hit many major currencies.

Opponents of a Puma Energy development on Dunsborough's main street have emerged victorious from the three-year stoush, after the developer behind plans to build the 24-hour service station announced it would no longer proceed with its bid.

Fortescue Metals Group has selected Belmont-based NRW Holdings as the preferred contractor to deliver the first stage of earthworks, roadworks and drainage works at the company's Eliwana rail project, located 90 kilometres west of the town of Tom Price in Western Australia's Pilbara region.

Western Australia continues to evolve into a globally significant energy metals province, with Pilbara Minerals securing funding to support a second stage of its Pilgangoora lithium mine in the north of the state, while US chemicals giant Albemarle Corporation has begun work on its $1 billion lithium hydroxide facility near Bunbury.

The ASX has surged at the open, boosted by percentage-plus gains for financials, energy and mining stocks, while the Aussie dollar is limping back after slumping to a decade low.

Perth house price slide to ease in 2019

Oil prices are up about two per cent amid choppy trading supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.

Gold has risen to its highest level in over six months as weak factory activity data in Europe and Asia compounded concerns of a global economic slowdown and weighed on stock markets, increasing the precious metal's appeal.

Early gains for supermarket stocks haven't stopped the Australian share market dipping to a fresh two-year low, with the bourse mirroring a Wall Street tumble following the US Federal Reserve rate hike.

Warning of deaths over solar panels

Oil prices rose overnight, recovering somewhat from a sharp selloff during the previous session, after US data showed strong demand for refined products.

Gold prices fell overnight, giving up earlier gains, after the US Federal Reserve raised interest rates and noted that "some" further gradual rate hikes would be needed next year.

Global traders have fled growth assets like copper and oil for the safety of gold, punishing Australian energy stocks while lifting fuel-dependent airlines and gold miners.

Australian shares have edged lower in early trade as an overnight oil price slump sends energy stocks plummeting.

Oil plunge hammers shares

Gold firmed near a one-week high as investors cast doubts over the pace of interest rate hikes next year by the US Federal Reserve which kicked off its two-day meeting earlier in the day.

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.

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.

Losses across the board dragged the Australian share market lower, with energy stocks weighing the heaviest amid looming interest rate hikes in the US and tumbling oil prices.

Australian shares have tumbled amid wider global uncertainty, diving into the red during a bleak open to the session.

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.

The state government has selected former Rio Tinto boss and current Mitsui & Co director Sam Walsh as the new chair of Perth Mint operator Gold Corporation.

The Australian share market has closed higher after an afternoon rally led by the materials sector.