At the core of AAP Newswire is our unbiased, 24/7 breaking newswire that feeds the latest news from Australia and the world. Supported by over 200 journalists, AAP Newswire provides the news that matters.

Banks, miners lift ASX despite telco slump

Banking and mining stocks have lifted the Australian share market higher, but gains were limited by a slump from the telco sector after the competition watchdog raised concerns over TPG's planned merger with Vodafone Australia.

ACCC: TPG-Vodafone merger may raise prices

Investors have shunned Vodafone Australia and TPG Telecom after the competition watchdog raised concerns that their merger into a $15 billion telco giant could mean higher mobile prices for consumers.

ASX opens higher despite telco sell-off

The Australian share market has opened higher but telco stocks are keeping the gains in check after the competition watchdog raised concerns over TPG Telecom's planned merger with Vodafone Australia.

Oil up on Libya disruption, planned cuts

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.

Gold up again as greenback weakens

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.

Wall St up, investors optimistic on China

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.

Banks and energy lift ASX higher

The Australian share market has closed higher, buoyed by a surge in banking and energy stocks as trade tensions ease and investors cash in on cheaper shares.

Inquiry into Telstra's fixed line services

The consumer watchdog has launched a new public inquiry into the conditions under which rival telcos use Telstra's existing copper network.

Westpac cops first strike on executive pay

Westpac shareholders have handed the bank a first strike on executive pay in protest over bonus cuts they say did not go far enough.

ASX lifts, defying choppy overseas trade

Australian shares have edged higher despite volatile overnight trade, with energy, resources and healthcare stocks posting solid early gains.

Gold price steadies near five-month peak

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.

Wall St end choppy session down slightly

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.

Oil flattens after US govt shutdown threat

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

ASX lifts amid Brexit, US volatility

Mining and health care stocks lifted the Australian share market higher, but the gains did little to recover the significant losses inflicted during Monday's trading.

QBE flags $130m cost-saving program

QBE Insurance has announced a three-year operational efficiency program targeting savings of S130 million in 2021, with the company also flagging better profits in 2019.

ASX climbs amid Brexit, US volatility

Australian shares have extended early gains with the banks and healthcare stocks leading the way as Brexit chaos rages in the UK.

Oil falls nearly 2% on stocks sell-off

Oil prices have fallen nearly two per cent, echoing the weakness in global stock markets as the focus returned to demand growth concerns and crude prices erased some of the gains made last week on an OPEC-led decision to cut output.

Gold price eases amid Brexit worries

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.

ASX slumps to two-year low

The Australian share market slumped to a two-year low, weighed down by the major banks as hopes for a trade resolution between the US and China continue to dissipate.

India beat shattered Aussies by 31 runs

India have recorded their first Test win in Australia since 2008, with a tense 31-run victory at Adelaide Oval putting the tourists in the box seat to taste unprecedented success against Tim Paine's shattered team.

IOOF duo step down to fight Apra action

IOOF Holdings' managing director and chairman have stepped aside following moves by the prudential regulator to disqualify the beleaguered wealth manager's top brass.

ASX starts the week with a slump

Australian shares have slumped at the start of the new trading week, with declines widespread as local markets follow Wall Street lower amid fresh uncertainty over US-China trade.

Wall St tumbles as trade worries loom

Wall Street has tumbled in a broad sell-off led by declines in big internet and technology shares, and the benchmark S&P 500 index posted its biggest weekly percentage drop since March as concerns over US-China trade tensions and interest rates convulsed Wall Street.

Oil prices edge higher on OPEC-led cuts

Oil prices ended the week more than two per cent higher after OPEC members and allies like Russia agreed to reduce output to drain global fuel inventories and support the market, but the gains were ca

Gold soars to five-month peak on soft $US

Gold hit a five-month peak as the dollar slid following weaker-than-expected US jobs data, which added to expectations that the US Federal Reserve may go slow on interest rate hikes next year.

Head helps Aussies reach 7-191 at stumps

Australia missed a golden chance to hammer home their ascendancy despite hometown hero Travis Head's best efforts at Adelaide Oval, where his side reached 7-191 at stumps on day two of the first Test against India.

Supermarkets, healthcare lift ASX

The Australian share market has closed higher due to strong gains from supermarket and healthcare stocks, offsetting losses to the commodity-related sectors as investors moved away from volatile shares.

ASX shrugs off Wall St slump to lift early

The Australian share market has lifted at the open with the healthcare and financial sectors among the best early performers as the bourse shrugs off a choppy Wall Street session and subdued oil prices.

Gold prices hold near five-month peak

Gold has risen to near a five-month peak on a weaker dollar and on expectations the pace of US interest rate hikes will slow, with the bullion also getting support from falling equities.

Oil dips 3% as OPEC delays output decision

Oil fell about three per cent in choppy overnight trade after OPEC and allied exporting countries ended a meeting without announcing a decision to cut crude output, and prepared to debate the matter the next day.

US-China trade worries weigh on US stocks

US stocks have closed slightly lower, but well above their session lows, as the arrest of a Chinese technology executive fanned fears of US-China tensions over trade, while some beaten-up big technology and internet shares posted gains.



WA company owner jailed for 'phoenixing'

A labour hire business owner who fraudulently obtained more than $890,000 through illegal "phoenixing" has been jailed for five years and four months in Western Australia.

WA accountant dodges jail for theft

An accounting company director in Perth who stole more than $43,000 has been spared an immediate prison sentence.

Laura Ashley enters administration again

Laura Ashley has been placed in administration for a second time, falling victim to the same forces that have claimed a raft of Australian retailers.

Wesfarmers shares down without Coles

Coles shares have floated on the Australian Securities Exchange at $12.49, with Wesfarmers' price adjusting in early trade without the supermarket giant in its stable.