AAP

Crown Resorts has posted net profit of $173 million for the year to December 2019, an 11 per cent drop on the previous period that chief executive Ken Barton attributed to mixed trading conditions across various arms of the business.

Britain's EG Group had offered to acquire Caltex Australia for $3.9 billion in cash and separate shares to be issued in a newly listed company on the ASX.

Fortescue Metals Group has reported a near four-fold jump in first-half profit as it cashed in on higher iron ore prices, while analysts said a lower than expected dividend reflected caution on the global economy.

Australian shares have opened flat amid mixed local news and after US markets and oil slid overnight on another coronavirus scare.

Gold has surged more than 1.0 per cent to fetch more than $US1,600 an ounce as Apple's surprise warning about the impact of the coronavirus outbreak fuelled concerns about global economic weakness, driving investors to lower-risk assets.

The Australian share market has finished marginally lower for a second day as investors digest local profit results in the absence of strong offshore leads.

Low rainfall and high temperatures in spring have resulted in significantly lower wheat, barley, canola and winter crop production in Western Australia.

Miner Rio Tinto has lowered its forecast for the volume of iron ore it expects to ship from the Pilbara region after tropical cyclone Damien hit the coast of Western Australia.

BHP shareholders will receive a heftier, fully franked 65 US cents per share interim dividend after the global miner lifted its first-half statutory profit 29 per cent to $US4.87 billion ($A7.25 billion).

Attorney-General Christian Porter has sent a warning to corporate Australia after Coles became the latest major company embroiled in an underpayment scandal.

Shares in Seven West Media have dropped to a record low after the media company posted a $67 million first-half loss as Australia's TV market continued its rapid decline.

Australian shares have fallen across almost right across the board as investors react to local profit results in the absence of strong offshore leads.

Oil prices inched up overnight as concerns over the economic fallout from the coronavirus outbreak in China were offset by expectations that potential production cuts from major producers could tighten global crude supply.

Gold prices have eased in a thin volume trade as risk appetite improved after China took further efforts to limit the economic impact from the coronavirus outbreak.

The Australian stock exchange has bounced back from its early losses to finish the day nearly flat as the big banks dragged on the market.

Car dealers are reeling from the "huge blow" of General Motors retiring the Holden brand in Australia, as the peak dealership group calls for regulations to protect businesses.

Bendigo and Adelaide Bank has launched a $300 million capital raising and slashed its interim dividend as rising costs weigh heavily on its first-half result, while NAB says it will raise about $750 million to refinance debt, as it seeks to meet toughened capital requirements.

Australian shares have opened weaker amid investor caution after a strong end to the last week.

Oil prices rose over 1 per cent on Friday, posting their first weekly gain since early January.

Gold prices rose to the highest level in more than a week on Friday, on track for a weekly gain, as investors bet on the safe-haven metal to hedge against the economic impact of the coronavirus outbreak.

The Australian share market has closed higher for a fourth day, with the benchmark index finishing just under a record closing high set three and a half weeks ago.

The corporate watchdog has charged former Bellamy's director Jan Cameron over the alleged masking of her stake in the infant formula business via a mysterious Caribbean-based associate.

Australian stocks have crept just above a flatline in cautious end to the week following mixed offshore leads.

Oil prices edged higher overnight as investors hoped the world's biggest producers would cut output more.

Gold prices jumped overnight to their highest in more than a week after a sharp increase in the number of new coronavirus cases in China renewed fears over global economic impact and persuaded investors to seek lower-risk assets.

The Australian share market has closed marginally higher after fears from the Covid-19 coronavirus cast a pall on a record-setting day.

Newcrest Mining has posted an 18 per cent rise in underlying half-year profit, getting a boost from higher realised gold prices and a weaker Australian dollar.

AGL Energy has achieved a 37 per cent rise in the number of Western Australian customers buying its gas, as it continues to eat into the market share of Alinta Energy and Kleenheat.

A $15 billion merger between Vodafone Australia and TPG Telecom has been given the green light in the federal court, but the consumer watchdog says it will cause mobile data prices to rise.

Woodside Petroleum has deferred a final investment decision on the giant Browse gas project as it deals with the complexity of the planned development and unresolved commercial differences with its partners.

Telstra has reported a 7.6 per cent drop in first-half profit to $1.14 billion - in line with guidance and expectations - with bushfires and the ongoing NBN rollout weighing on the telco's bottom line.

Caltex stocks jumped more than three per cent in early trade after it received a improved $8.8 billion buyout proposal from Alimentation Couche-Tard to acquire all its shares at an indicative price of $35.25.