AAP

Myer chief executive Richard Umbers has been forced to resign, but the board is sticking with his turnaround strategy.

A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.

Australian shares are slightly higher in lacklustre early trade as investors turn cautious ahead of key US data and a slew of local earnings.

The Australian dollar has slipped against a weakened US counterpart, but still remains above 78 US cents.

Oil prices are flat, bouncing back from an early slide as the US dollar fell to a one-week low, which encouraged buying of US dollar-denominated crude at session lows.

Gold prices have risen as the US dollar has slipped and markets anticipate the release of impending US inflation data that may offer some clues on the pace of future Federal Reserve interest rate increases.

The Australian share market has closed higher following gains on Wall Street and as several companies reported profit growth.

BHP Billiton will include an income tax expense of $US1.8 billion in its half-year accounts due to a cut to corporate income tax rates in the US.

Transurban has racked up a near fourfold increase in first-half profit and the toll road operator is looking for more to come, thanks to US President Donald Trump's planned infrastructure splurge.

Three of Australia's big four banks have begun rolling out their new $1 billion payment system that allows customers to transfer funds between rival institutions in near real-time.

Australian shares are modestly higher in early trade after Wall Street's Dow closed sharply higher as US equities rose for a second consecutive session.

The Australian dollar is back above 78 US cents as the US dollar's rise falters and it slips amid an equity rebound.

Oil prices have risen, beginning to recoup some of last week's steep losses as global equities have steadied following their biggest one-week decline in two years.

Gold prices have risen as the US dollar has eased, but gains are expected to be muted ahead of inflation data from the United States later this week that could mean US interest rates rise faster than expected.

The Australian share market has closed lower but did claw back some earlier losses as the Dow Jones futures index pointed to a possible positive session on US markets tonight.

JB Hi-Fi shares have slumped despite a big lift in first-half profit, after the home electronics and entertainment retailer warned of margin pressures and issued lower-than-expected guidance.

Congestion on the national broadband network has eased as more customers turn to higher speed plans after rollout company NBN Co slashed its top speed packages last year.

Despite a stronger lead out of the US, Australian shares have slipped sharply in early trade as reporting season begins in earnest and Asian markets brace for more volatility.

Gold has slipped, under pressure from a firmer US dollar and worries about rising global interest rates, but still found some support as a safe-haven asset as world stock markets fell.

Oil prices have slid more than three per cent on Friday as US futures fell below $US60 a barrel for the first time since December on renewed concerns about rising crude supplies.

The Australian dollar has regained some lost ground against the US dollar which itself has preserved its recent gains.

Wesfarmers, Woodside Petroleum and South32 were among Australian shares that closed lower in the wake of another overnight collapse on Wall Street but local losses were relatively contained as many Asian markets tumbled steeply.

Solomon Lew is calling on fellow Myer shareholders to "save the company" with a board spill after shares in the troubled retailer plummeted to a fresh all-time low on the back of its latest profit warning.

Australian shares have again slid in early trade following a fresh plunge on Wall Street overnight, while the Aussie dollar has retreated below the 78 US cents level.

The Australian dollar has slipped to a six-week low against its US counterpart, before regaining some ground, as the US dollar has extended its recent gains.

Oil prices have fallen to their lowest in six weeks after data shows that US crude output had reached record highs and the North Sea's largest crude pipeline reopened following an outage.

Gold prices are flat, slumping early on concern about rising US bond yields and global interest rates, but buyers emerged to lift bullion when it hit a technical support level at about $US1,312 an ounce.

The Australian share market turned around a weak start to the day as bargain hunters bought stocks beaten up in Monday and Tuesday's plunge.

Traditional owners say it is a "sad day" for their people and land after the Supreme Court dismissed an appeal against the approval of a uranium mine in central Western Australia, but conservationists have vowed to continue the fight.

National Australia Bank's cash earnings have slipped 1 per cent as expenses have risen partly due to the lender's increased spend on infrastructure and job cuts.

Australian shares have fallen after US stocks came under late pressure on Wall St during another rollercoaster - though less brutal - session.

The Australian dollar has fallen almost half a US cent against its US counterpart as equity markets continue to bounce back from a sell-off bloodbath that wiped $US4 trillion off the value of shares.