AAP

Police Minister Michelle Roberts insists the state government will not budge on its $1,000 pay increase offer to the police union, saying to capitulate would trigger a flow-on effect across the rest of the public sector.

Kerry Stokes-backed Beach Energy has agreed to buy Origin Energy's conventional oil and gas business Lattice Energy, which has a major stake in two operations in the Perth Basin, for nearly $1.6 billion.

The Australian share market has opened higher, after Wall Street rose following the release of President Donald Trump's tax reform plan and increased expectation of a Federal Reserve interest rate

The Australian dollar is slightly lower against its US counterpart which has strengthened amid optimism over proposed US tax reforms.

Brent prices have fallen while WTI (US) crude has rallied, after oil stockpiles in the world's top consumer unexpectedly drew down with refiners coming back online following Hurricane Harvey in August.

Heightened expectations that the US Federal Reserve will raise interest rates again this year has driven gold to a one-month low, extending losses after the biggest one-day loss in almost two years during the previous session.

The share market has lost ground as investors tread cautiously ahead of a speech by US President Donald Trump that is expected to detail his plans for tax cuts and reform.

Failed Ten Network Holdings bidders Bruce Gordon and Lachlan Murdoch may be analysing their own independent expert's report ahead of making a decision on challenging the sale of Ten to CBS, a court has heard.

Premier Mark McGowan has lashed the state police union's leadership after a short-lived escalation of industrial action over a pay dispute, saying they went rogue and took the law into their own hands.

The Australian market is flat at the open following a mixed lead from Wall Street and reversing from positive indicators on the futures market ahead of the start of trade.

Oil prices have ended one per cent lower after investors took profits following a rally to 26-month highs spurred largely by threats from Turkey to cut crude exports from Iraq's Kurdistan region.

The Australian dollar has slipped against a strengthening US dollar which rose overnight alongside climbing US interest rates and as risk aversion appeared to fade.

The share market has closed slightly lower as investors contemplate the ongoing war of words between US President Donald Trump and North Korea.

The company behind the Australian Securities Exchange believes it has found the global 'sweet spot' for attracting companies to list on the local market.

Grain co-operative CBH Group has been ordered to pay more than $40,000 after insufficient guarding on machinery led to a worker being so badly injured she had to have one finger amputated.

Adventure gear retailer Kathmandu's annual profit has risen 13.5 per cent, thanks to strong sales, innovative products and cost cuts.

The Australian market has opened slightly higher, with investors seemingly shrugging off the risk aversion shown in Wall Street's negative lead.

Oil prices have soared more than three per cent, with Brent hitting its highest in more than two years, after major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdistan region toward its ports.

Gold prices have risen, reversing earlier losses as geopolitical risks drove safe-haven buying.

The Australian share market has broken a three-day losing streak as some buyers returned to the market despite negative overseas leads, however volumes were muted with no strong theme directing trading.

Talks between Seven West Media and regional broadcaster Prime over combining their assets into a single media company have ended with the two unable to come to an agreement.

The Australian share market has rebounded and is solidly higher a day after hitting a seven-month low.

Oil prices have settled nearly flat on the eve of a meeting of major oil-producing countries in Vienna to discuss whether they will extend production limits that have helped reduce the global crude glut.

Gold has fallen about one per cent to its lowest in nearly four weeks, shrugging off further weakness in the US dollar, after the Federal Reserve signalled it was on track to raise US interest rates again in December.

A third straight day of falls has taken the Australian share market to its lowest level in more than seven months.

Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses, CommInsure Life and Sovereign Assurance, for $A3.8 billion ($4.15 billion) to global insurer AIA Group.

Seven Group Holdings has raised $375 million to help it buy the remainder of equipment hire company Coates Hire, and plans to tap investors for a further $25 million.

The Australian market has opened slightly lower, ignoring a positive lead from Wall Street overnight as markets reacted to the prospect of a US rate hike later this year.

The Australian dollar is still above 80 US cents despite slipping a little against greenback after the US central bank released its statement following its two-day policy meeting.

Oil prices have lifted two per cent despite a rise in US crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.

Gold prices have fallen one per cent after the US Federal Reserve left interest rates unchanged but signalled it still expected to raise interest rates by year-end.

The share market recovered most of the ground lost in a poor start to the day but has still closed marginally lower, as weaker iron ore prices weighed on the mining sector.