AAP

Oil prices have slipped, pressured by renewed concerns that a global trade war could dent energy demand, although impending US sanctions on Iran and falling Venezuelan output limited the decline.

The S&P 500 ended flat on Friday while the Dow edged down and the Nasdaq closed higher in light trading as Canada and the US concluded trade talks without resolution ahead of the Labor Day weekend.

The Australian share market has closed lower on the last major day of the profit reporting season, dragged down by the telecommunications sector as well as the miners after a dip in iron ore prices.

Two people have been charged following an investigation by the Corruption and Crime Commission into state-owned utility Horizon Power.

Industrial manslaughter laws may be introduced in Western Australia, Premier Mark McGowan says.

Harvey Norman's full-year profit has slumped 16.4 per cent to $375.4 million due to property revaluations and the furniture and electrical goods retailer's failed dairy farming investment.

Australian shares have opened lower after falls on Wall Street overnight, with the materials sector weighing on the market following a dip in iron ore prices.

US stocks have ended their four-day winning streak as risk reduction ahead of the long holiday weekend accelerated on growing trade anxieties.

Oil prices rose on Thursday to the highest in more than a month, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in US inventories.

The Australian share market closed flat on Thursday, falling back from a new post-GFC intra-day high after a late slump in banking stocks.

The chief executive of a West Australian shire acted corruptly when he ensured his partner became the strategic planning manager and increased her salary by $24,000 over four years, a report has revealed.

Vodafone Australia and TPG Telecom have agreed to merge into a single $15 billion telecommunications firm in an effort to more effectively challenge telecoms giants Telstra and Optus.

Australian shares have opened higher on the back of gains in healthcare, telecoms and materials shares, and in line with a rise on Wall Street overnight.

Rates on the rise: Westpac takes first shot with interest hike

US stocks have extended their rally with the S&P 500 and the Nasdaq hitting record highs for the fourth straight session as technology companies pushed indexes higher and promising trade negotiations stoked investor sentiment.

Oil prices have risen more than one per cent, with Brent at its highest in seven weeks and US crude touching a three-week peak, supported by a drawdown in US crude and petrol stocks and reduced Iranian crude shipments as US sanctions deter buyers.

Rising bank stocks drove a late surge on the ASX on Wednesday after Westpac announced a hike in mortgage rates, adding to earlier gains from easing global trade tensions.

Attorney-General Christian Porter has ruled out running for the seat of Curtin if Julie Bishop decides to quit, saying the marginal seat of Pearce is his community.

An accountant who pocketed almost $1.8 million after lodging more than 100 fraudulent income tax returns has failed in a bid to have his eight-year sentence reduced.

Opposition leader Bill Shorten has promised Western Australia a legislated floor in GST payments, saying Labor is on a unity ticket with the Coalition to deliver a fairer carve-up.

Virgin Australia has reported a full-year loss of $681 million after impairments and tax adjustments, its sixth consecutive year of losses, but the airline is optimistic about delivering a statutory profit in the next half.

Australian shares have opened largely unchanged, with losses in healthcare and energy capping gains, despite a small rise on Wall Street overnight.

Oil prices have slipped as some investors take profits on recent strong gains, but losses were limited the day after a US-Mexico trade agreement eased worries about tensions between the two countries.

US stock indexes have risen, with the benchmark S&P 500 and the Nasdaq indexes hitting fresh all-time highs, as a trade agreement between the United States and Mexico calmed fears of a global trade war.

Australian shares have ended higher on Tuesday, following on from a record close on Wall Street and hopes of reduced global trade tensions.

Caltex Australia says it is considering selling part of its convenience retail assets valued at $2 billion, even as higher costs kept its first-half profit at the lower end of its guidance.

Australian shares have opened higher, helped by gains in financial and resources stocks, as local investors take cues from an overnight rally on Wall Street.

US stocks have posted strong gains, with the benchmark S&P 500 and the Nasdaq hitting all-time highs, as news that the United States and Mexico were closing in on a trade deal added to optimism about the economy.

Oil prices have edged up, supported by a strengthening equities market and news that the United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA).

A turnaround in the banking sector plus gains for mining and telco stocks have boosted the ASX back into positive territory on Monday.

Australian shares have opened lower, weighed down by weakness in healthcare and financial stocks, despite Wall Street finishing on a high on Friday.

The benchmark S&P 500 stock index has clinched its longest bull-market run, closing above its previous January high, as Federal Reserve Chairman Jerome Powell affirmed the US central bank's current pace of rate hikes.