Oil and gas company Santos is carrying too much debt at a time of low oil prices and will need to tap shareholders for new funds, Credit Suisse analysts say.

The ASX is doing its best yo-yo impression, as resources stocks and the big banks lead shares higher in early trade after yesterday's steep sell-off.

Falling commodity prices and a weak outlook for growth have increased the chance the Reserve Bank of Australia may cut rates next week, driving the local currency lower.

Australian pilots say past disputes over payouts in the case of psychiatric conditions such as depression could make them less likely to be honest about their condition.

Andrew Forrest's call for the big iron ore producers to cap production may have backfired, with the commodity's price falling to its lowest level since a daily tradeable market was established.

Macquarie Group plans to cut about half its investment-banking jobs in Asia and announce the departure of the head of its advisory and capital markets unit, sources tell Bloomberg.