AAP

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.

Oil prices gained more than 1 per cent on Friday, ending a run of weekly declines on signs that Iran sanctions may limit global supply and that a trade war may not curb China's appetite for US crude.

The Australian share market has closed barely higher, falling back from a surge on Friday in the wake of Scott Morrison's selection as the nation's next prime minister.

Australia's biggest power producer, AGL Energy, has eased out chief executive Andy Vesey and is seeking a new leader at a time when it faces government pressure to slash energy bills and shore up a shaky grid.

Australian shares have opened higher, helped by strength in healthcare and resources stocks, but gains could be capped following a weaker finish on Wall Street overnight and domestic political turmoil.

Wall Street's major indexes fell as trade-sensitive stocks were hit by a fresh round of tariffs in the trade dispute between the United States and China.

Oil prices have steadied as the escalating trade war between the United States and China weighed on demand expectations a day after prices jumped on a big draw in US crude inventories.

Australian shares have fallen on Thursday with banking and utilities stocks down, while the turmoil around the future of Prime Minister Malcolm Turnbull has taken its toll on the Aussie dollar.

Qantas shares have dropped to their lowest in more than a month despite Australia's major carrier posting a record underlying profit of $1.6 billion.

US stocks have closed mixed, with the Nasdaq gaining on the strength of tech stocks while the S&P 500 was little changed as it marked its longest bull market run.

Oil prices have jumped three per cent, with Brent crude futures hitting a three-week high, after US government data showed a larger-than-expected draw in crude inventories and as Washington's sanctions on Iran signalled tightening supplies.

A solid run of upbeat profit results has failed to keep Australian shares aloft on Wednesday as political uncertainty and the abandonment of big business tax cuts dominated news of the day.

Troubled financial services giant AMP has appointed long-time Credit Suisse executive Francesco De Ferrari as its new chief executive, effective December 1.

TPG Telecom has confirmed media speculation it is in talks with Vodafone Australia regarding a potential merger.

The benchmark S&P 500 has touched a record high and equalled its longest ever bull-market run, as US stocks rose on earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.

Australian shares fell back on Tuesday, with falls for BHP and the broader mining sector and a retreat in banks and consumer stocks weighing on the market.

Seven West Media has swung to a full-year profit for the 2018 financial year, while also announcing a five-year extension to its long-standing program supply agreement with Prime Media Group.

Mining giant BHP has posted a 37 per cent drop in full-year year net profit after taking heavy writedowns on its US shale assets, while iron ore production lifted slightly to 275 million tonnes.

Oil futures rose after weeks of declines, as investors grew more concerned about an expected fall in supply from Iran due to US sanctions and worried less that a trade war between the United States and China would hurt economic growth.