Authorities are investigating members of an alleged "fake debt bankruptcy fraud ring" accused of using sham debts to shield millions of dollars in assets from Timbercorp creditors and investors.

Shares close down but well off their early lows after strong oil prices drive a relief rally in energy stocks and amid some bargain hunting in the mining sector, while the Aussie threatened to break below 82 US cents.

The battle for supremacy in the cosmetics market, triggered by the recent arrival of Sephora, is in full swing, but analysts are already pointing to department stores as the biggest potential losers.

Qantas has officially pushed the reset button on its financial prospects having lined up the foundations for a full-year profit that could easily exceed $600 million based on pre-tax profit guidance for the current half of up to $350 million.

How big can Aldi get in Australia? And how much secrecy is too much?