WORLD FINANCE UPDATE:
The Australian dollar has hit a fresh six-year low, extending deep losses following a rout in world markets over China's slowing growth.
At 0630 AEST on Tuesday, the currency was trading at 71.59 US cents, down from 72.36 cents on Monday.
And the Australian share market looks set to open almost four per cent lower after international markets plummeted on further concern over China's slowing economy.
At 0645 AEST on Tuesday, the share price index futures contract was down 191 points at 4,759.
ELSEWHERE:
LONDON - Global stock markets have plunged and commodity prices have hit new lows, extending a Chinese-led rout, fed by fears of a damaging slowdown in the world's second-largest economy.
NEW YORK - Oil prices have sunk, with the US crude benchmark finishing below $US40 a barrel for the first time in six years on worries about China's weakening economy after an equities sell-off.
NEW YORK - The drop in US oil prices below $US40 ($A54.85) a barrel has emboldened talk that lower oil prices will persist longer, leading to much more carnage in the global oil patch.
ATLANTA - Southern Co is buying AGL Resources Inc. for approximately $US7.93 billion ($A10.87 billion), which will create the second-biggest utility company in the US by customer base.
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