In the US, trading comes to a close shortly and the Dow Jones is lower, while the S&P 500 is also down. 

 

 

 

The Australian dollar is worth nearly 104 US this morning. It'll also buy you 64 British pence and 125 New Zealand.

 

 

 

Consurmer watchdog believes the million-dollar fine imposed on two energy companies for illegal door-to-door sales serves as a warning to others. Neighbourhood Energy and Australian Green Credits have been fined for not leaving people's homes when asked, ignoring do-not-knock stickers and making misleading and deceptive statements. It's the first test of the new consumer laws that address door-to-door sales. The ACCC's chairman Rod Sims says the decision will have a profound effect on consumer prediction.

 

 

 

The long-serving chairman of Woolworth has advised the board he would step down. James Strong will retire after the company's annual general meeting on 22nd of November of this year after eleven and a half years in the role. Woolworth says Mr Strong will be succeeded by current non-executive director Ralph Waters. Mr Strong says he feels like he's leaving the company in safe hands.