AAP

Gold prices have risen to a more than three-week high, helped by a weaker dollar and as worries over global economic growth pushed investors into safe-haven assets.

The Australian stock market has recorded its worst session in 12 weeks amid fears of a worldwide economic slowdown.

National Australia Bank has scrapped a contentious program under which people including gym instructors and hairdressers were paid commissions for loans they pitched to their customers.

Westpac is setting aside a further $260 million for customer remediation, taking its total to $659 million with fees-for-no-service refunds yet to come.

The Australian stock market is on track for its worst session in 12 weeks as the big four banks, the major miners and the energy sector continue to weigh amid a wider slump.

Gold prices are up as weak economic data from the euro zone exacerbates fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly two months.

Oil prices have fallen about two per cent as focus shifts to a lack of progress in US-China trade talks and as grim manufacturing data from Germany and the US reignited fears of a slowdown in the global economy and oil demand.

Australian shares have finished the week with a rally led by the big banks and market heavyweight CSL.

More affordable housing will soon be available to some struggling Australians, with a federal agency offering community housing providers $315 million worth of loans at cheaper-than-average rates.

Worn down by three years of indecision in London, European Union leaders have grudgingly offered the UK more time to ease itself out of the bloc, delaying by several weeks - but not eliminating - the threat of a chaotic British exit.

Australian shares have moved higher as healthcare shares led a broad rally on the last day of the trading week.

Oil fell nearly one per cent overnight but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and US sanctions on key producers Iran and Venezuela.

Gold prices dipped overnight in volatile trade after hitting three-week highs earlier in the session as a set of better than expected US data lifted the US dollar, while palladium notched a record peak on supply concerns.

An Apple-led tech rally has pushed Wall Street higher as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.

Australian shares closed up a whisker following a late afternoon rally after spending most of the day in the red during a busy day for economic indicators.

A consortium comprised of private equity firm BGH, AustralianSuper and former Navitas chief executive Rod Jones have agreed to buy the global education provider for $2.3 billion.

Australian shares have opened flat following a mixed session on Wall Street, despite a strong showing from the mining sector.

The S&P 500 and the Dow have ended lower as interest rate-sensitive financial stocks dragged down the indexes after the US Federal Reserve affirmed a dovish monetary policy stance.

US crude prices rose overnight to a four-month high above $US60 a barrel after US government data showed tightening domestic oil supplies, but gains were capped by concerns over global economic growth due to the ongoing US-China trade war.

Palladium hit an all-time high overnight on concerns over tight supplies of the autocatalyst metal, while gold reversed course to rise after the US Federal Reserve kept interest rates unchanged.

Australian shares have closed in negative territory for a second day after a drop in the price of iron ore put pressure on mining shares.

The prime minister has defended the timing of his government's migration intake announcement, despite it occurring days after the Christchurch terrorist attacks.

AMP has scrapped short-term cash bonuses and cut directors' fees in an effort to avoid a second shareholder strike on remuneration and possible board spill at May's annual general meeting.

Australian shares remain in negative territory despite clawing back some ground lost in the morning on jitters about international trade.

Oil prices were largely steady around four-month highs overnight on expectations that OPEC would continue production cuts till the end of the year, and ahead of weekly US data that was forecast to show a build in crude stocks.

Palladium surged past $US1,600 for the first time overnight, in a seven-session rally, on expectations that strained supplies of the autocatalyst metal could worsen, while platinum soared 3 per cent.

Australian shares have closed marginally down after a spike in the price of iron ore that boosted mining companies couldn't make up for losses elsewhere.

A Brazilian court has ordered Vale SA, the world's largest iron ore miner, to suspend operations at two more dams, demanding that it prove the structures are stable.

TPG Telecom's first-half profit has slumped 76.5 per cent to $46.9 million after its decision to halt the rollout of its planned mobile network resulted in a $227.4 million impairment.

Westpac is selling its personal financial advice business as Australia's second-biggest bank exits the scandal-hit sector, and the bank's consumer boss George Frazis is set to leave.

Australian shares are up marginally as a spike in the price of iron ore boosted mining companies, offsetting losses by tech and health care companies.

Oil prices rose to around four-month highs overnight, aided by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines in US crude stockpiles.