AAP

The Australian market share has posted its largest daily fall in seven weeks due to weakness for Telstra, the major banks and mining giants.

Federal Labor is demanding the Turnbull government hand over details of the deal it struck with Pauline Hanson to get her support to cut business taxes, a pact One Nation is now reneging on.

Telstra has blamed a software fault for its second widespread network outage in a month, which left customers unable to make calls or use mobile data.

Private hospital operator Healthscope, which owns Perth's Mount Hospital, has rejected two competing takeover proposals it says undervalue the company, even as it lowers its earnings guidance due t

Australian shares have opened lower, shrugging off improvements seen on most global markets overnight including strong gains on Wall Street.

The Australian dollar is higher, after US stocks, oil and copper prices gained ground overnight.

US crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.

Gold price have hit a new low for the year to date after US Treasury Secretary.

The Australian share market has closed steady, with strong gains by the healthcare and utilities sectors countering yet another fall by Telstra and weakness among the banks and miners.

US private equity firm Harbour Energy has raised its bid for Santos to about $US10.9 billion ($A14.5 billion) on condition the local energy firm increases its oil price hedging for the next two years.

AGL has knocked back Alinta Energy's $250 million offer to buy Liddell Power Station and reaffirmed its decision to close the plant in 2022.

Vocus Communications has appointed former Optus boss Kevin Russell as managing director and chief executive, three months after Geoff Horth quit the broadband provider in the wake of an earnings warning.

Australian shares have opened lower, dragged down by the banks and after all three major US stock indexes posted a weekly loss as the markets grappled with US-China trade talks.

Gold prices rebounded on Friday, as the US dollar eased after Italian political tension sparked a sell-off in the country's bond markets and investors sought a safe haven in bullion.

The Australian dollar is flat after Wall Street stocks finished Friday's session flat or in negative territory.

Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains, boosted by plummeting Venezuelan production, strong global demand and looming US sanctions on Iran.

Australian shares have closed weaker as mining and banking stocks lost ground, despite the energy sector and vaccines giant CSL giving the local market a shot in the arm.

The Australian market has opened flat as surging CSL and energy shares negated a soft lead from Wall Street.

The Australian dollar is slightly lower after US stock ground as investors worry over as possible escalation of US-China trade tensions.

Oil prices climbed above $US80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and climbing US output to end unchanged.

Gold was flat after sliding to a fresh 2018 low on Thursday as another rise in US bond yields held the US dollar index near its 2018 peak.

Australian shares have fallen as Westpac traded ex-divided and the industrial and healthcare sectors lost ground.

Despite adding 8,300 jobs in April, Western Australia has retained the highest unemployment rate in the country, according to latest data from the Australian Bureau of Statistics.

US private equity firm Harbour Energy has made a binding offer for Santos that confirms an original price tag of $US10.4 billion ($A13.8 billion).

The federal government has endorsed changes to the livestock export industry designed to improve animal welfare but the WA government says it may still try to ban live sheep exports to the Middle East during the northern hemisphere summer.

Atlas Iron will record a non-cash impairment of up to $100 million in its full-year results after rising costs led to an operating loss in its third quarter.

The Australian share market has opened in the red, weighed down by the banks as Westpac goes ex-dividend.

The Australian dollar has bounced back overnight and is higher against the US dollar which has preserved its recent gains but made little headway.

Wall Street has edged higher as retailer Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.

Oil prices have gained ground, shaking off the effects of a strengthening dollar, after an inventory report showed US crude and petrol stocks fell more than expected.

The Australian share market closed higher as energy companies were boosted by higher oil prices.

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.