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Politics & the Economy

Gina Rinehart has lost her position as Australia's richest person due to plunging iron ore prices and a bitter court battle with her two eldest children.

Parents won't be getting a schoolkids bonus after July, no matter who wins the federal election.

Gold has fallen to a seven-week low after upbeat US home sales data in the previous session boosted expectations that the Federal Reserve will press ahead with interest rate rises in the near term.

Wall Street has risen robustly for a second straight session, helped by higher oil prices and investors becoming more comfortable with the prospect of an interest rate hike as early as next month.

BHP looks to Venus to keep nickel project alive

Oil prices have climbed to just shy of $US50 ($A69.62) a barrel after a sharper-than-expected fall in crude inventories, lifting energy shares and world stock markets.

The Australian dollar has failed to jump on the US equities rally bandwagon as risk appetite firms, dipping below the 72 US cent mark.

THE sale of major public assets is looming as the only realistic option for a government of either stripe hoping to reclaim the state’s AAA credit rating and fund infrastructure needs in the decade

The state government has released details of its new digital innovation framework on the same day the auditor general slammed the state for letting its ICT strategy fall behind the rest of the country.

The state government has cast a wide net in its bid to boost defence-related work in Western Australia, with 16 small businesses – ranging from a landscape gardener in Port Hedland to a signage contractor in Bellevue – sharing in the latest round of defence-specific grants.

Stockpiles of iron ore drive prices lower

Wall Street has surged more than 1 per cent and the Nasdaq has had its strongest day in three months as investors made peace with the possibility the US Federal Reserve might soon raise interest rates.

The Australian dollar has recovered from a three-month low after the Reserve Bank hinted at further rate cuts.

Gold has fallen to its lowest in more than four weeks as hawkish comments from Federal Reserve officials in the previous session sent the US dollar to a two-month high against a currency basket.

WA has had nearly $170 billion redistributed to other states by the federal government during the past 10 years, with the GST only one tax with a problem.

Prime Minister Malcolm Turnbull has pledged an extra $60 million to fix mobile phone black spots; boosting the program Tony Abbott announced in the previous election campaign to $220 million.

Gold has dipped to a three-and-a-half-week low as expectations rise that the US Federal Reserve will lift interest rates as early as June, but prices came off their lows as late-day short-covering entered the market.

The Australian dollar is in negative territory with no data or news to drive direction.

Global stock markets have edged lower while short-dated US Treasury yields held near two-month highs as investors weighed the possibility that US interest rates could soon rise.

Turnbull is winning despite polls

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