AAP

The US Transportation Department says it has granted tentative approval to American Airlines Group and Qantas Airways to operate a joint venture, after a prior effort was rejected by the US government in 2016.

The Australian share market has opened higher ahead of the Reserve Bank's monthly board meeting, boosted by strong early gains by the major miners.

Gold climbed more than 1.5 per cent overnight to its highest level in more than three months on concerns that US-Chinese trade tensions and the US threat of tariffs on Mexico would hurt the global economy.

Oil fell overnight as US trade disputes with Mexico and China deepened concerns about weakening global crude demand, while a slump in equities also weighed on crude futures.

The Australian share market has closed flat but finished May up a percentage point during a month when other markets around the world lost ground.

The Australian share market has opened lower despite a positive lead from Wall Street.

Oil prices fell almost four per cent overnight to their lowest in about two months on a smaller-than-expected decline in US crude inventories and fears of a global economic slowdown due to the US-China trade conflict.

Gold shook off headwinds from a stronger US dollar to scale a near two-week peak overnight as data pointed to easing inflationary pressure in the United States, boosting expectations of a further interest rate cut by the Federal Reserve.

The Australian share market has closed lower for a second day amid gloomy prospects for global economic growth.

Wealth manager AMP has been hit with a class action lawsuit for allegedly charging superannuation fund members unjustifiably high fees for an extended period of time.

Australia's lowest paid workers will get a $21.60 a week pay rise.

The Australian share market has opened lower after losses on Wall Street overnight.

Oil prices have fallen in volatile trade overnight and were weighed down by equity markets as China signalled readiness to escalate the trade war with the United States, stoking concerns that an ongoing stand-off could hurt demand.

Gold prices rose alongside other safe-haven assets overnight as the trade rift between the United States and China showed no sign of cooling, with investors fearing a global economic slowdown.

The Australian share market has slumped amid pessimism about global growth prospects and concerns about US-Chinese trade tensions.

Mirvac has launched a $750 million placement, with the property group eyeing the top end of its FY19 guidance and planning to lay the foundations for more success.

Telstra has announced it will record $500 million in impairments in its 2019 financial year results on ageing data-storage assets and forecast higher restructuring costs this year as it expedites a plan to slash jobs.

The Australian share market has slumped at the start of trade after pessimism on US-Chinese trade talks caused losses on Wall Street overnight.

US crude futures gained almost one per cent overnight after flooding throughout the midwest constrained crude flow from the main US storage hub in Cushing, Oklahoma.

Gold overnight slipped from the previous session's one-week peak, pulled down by a firm US dollar as the currency was the preferred safe-haven amid uncertainty over US-China trade tensions.

The Australian share market has closed higher, boosted by the energy and mining sectors as the price of crude and iron ore gained.

The worst unemployment rates in the nation in the month before the federal election were largely in areas of Queensland and WA.

Consumer confidence increased over the weekend amid talk of a cut to interest rates while inflation expectations fell, an ANZ Banking Group analyst says.

The Australian share market has opened higher as mining companies lead the charge for the second day in a row.

Oil prices rose more than one per cent overnight, supported by Middle East tensions and OPEC-led supply cuts as well as continued crude disruptions from Russia after a contamination problem discovered last month.

Gold hit a more than one-week peak overnight as trade tensions between the United States and China lifted appetite for assets seen as a haven from risk, while weak US economic data boosted hopes for a rate cut from the Federal Reserve.

The Australian share market has closed flat, with gains for tech stocks and the major mining companies slightly outweighed by a decline in telecom and consumer staples shares.

Vocus Group shares have jumped nearly 25 per cent after the internet provider opened its books to EQT Infrastructure's $3.3 billion takeover proposal.

Scott Morrison says he has high expectations for his new ministry, with Western Australians Christian Porter, Linda Reynolds and Ken Wyatt among those to be promoted.

The Australian share market has opened flat despite strong gains for the major mining companies.

Gold steadied on Friday after rising more than one per cent in the previous session en route to a weekly gain, propped up by a weaker US dollar and expectations for a US interest rate cut, offsetting pressure from a rebound in equities.

Oil prices climbed more than one per cent on Friday ahead of long US and UK holiday weekends but posted the biggest weekly drop of the year, pressured by rising inventories and worries about the global economy.