AAP

Andrew Forrest has detailed how he plans to build "the most popular rugby competition in the world", with the mining billionaire hoping to obtain approval from both World Rugby and the Australian Rugby Union in the next three weeks.

Macquarie Group's board has approved an on-market buyback of up to $1 billion after posting a first-half profit of $1.25 billion.

The Australian share market is trading higher in early trade after a higher close on Wall Street overnight, but gains are likely to be capped ahead of a key high court decision on the legality of t

The Australian dollar is sharply down against its US counterpart which has gained following the European Central Bank's tapering announcement.

Gold has fallen to a near-three-week low as the US dollar gains against the euro after the European Central Bank said it would extend the lifespan of its bond-buying program.

The share market has rallied to close higher, as ANZ's baking rivals recovered from early falls and most of the big miners overcome weaker commodity prices.

Laws enabling the state government to dump a councillor who acts improperly will be introduced in parliament this year, and be drafted to allow for Perth Lord Mayor Lisa Scaffidi to be dealt with retrospectively, Premier Mark McGowan says.

Origin Energy says it will buy 41 petajoules of gas from its part-owned Australia Pacific LNG project in Queensland for the domestic market.

JB Hi-Fi's sales growth has slowed, but it still expects total sales to jump 21 per cent this financial year.

Qantas says first-half underlying profit could rise as much as 11.5 per cent, but has warned rising fuel costs will start to weigh on earnings after that.

ANZ Banking Group chief executive Shayne Elliott says the lender is watching its mortgage book "like a hawk" for signs of stress as households rack up record debt to meet rising house prices.

Fortescue Metals Group is on track to the meet its annual iron ore shipments forecast but has downgraded its guidance on the price it expects to realise.

The Australian market has opened lower on Thursday in the wake of a retreat on Wall Street overnight where poor earnings results pushed major indices to their worst close in seven weeks.

The Australian dollar has fallen to a three-month low against its US counterpart, on the back of weaker than expected inflation data.

US oil prices have slipped after a surprising increase in US crude inventories, while US petrol futures rallied one per cent on a sharp fall-off in inventories.

The share market has inched back above 5,900 points as mining and energy stocks gained ground, and weaker than expected inflation sent the Australian dollar to a three month low.

Australia's inflation rate lifted at a lower-than-expected rate in the September quarter, after a collapse in fruit and vegetable prices offset an upward surge in electricity costs.

Perth's new acting lord mayor, Jemma Green, has vowed to return stability to council following Lisa Scaffidi's agreement to step aside from the top job while she appeals an 18-month disqualification.

Supermarket giant Coles has suffered a slowdown in first-quarter sales growth as a rapid fall in the price of fresh produce and competition from a resurgent Woolworths keeps pressure on margins.

The Australian market has opened higher on Wednesday thanks to a strong lead from Wall Street and solid rises in most commodities overnight.

Gold prices dipped on Tuesday as investors anxiously awaited news on the next head of the US Federal Reserve, while strong share markets and a calmer geopolitical environment sapped safe-haven demand.

Oil prices rose more than one per cent on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in US crude inventories as well as nervousness over tensions in Iraqi Kurdistan.

The share market overcame a soft start to end the day slightly higher as strength among miners and utility companies offset weakness for the energy producers.

The threat of corporate discount pharmacies on small, family-run businesses has triggered a review of pharmacy ownership laws in Western Australia.

Solomon Lew has launched a new attack on the board of Myer and called on shareholders to help him oust the department store's directors at next month's annual general meeting.

Domino's Pizza is taking full ownership of its Japanese joint venture by buying out partner Bain Capital's minority stake for $42 million.

The Australian share market is trading in a narrow range in early trade with investors wary after a weaker close on Wall Street overnight.

The Australian dollar has fallen against the US dollar.

Oil prices are little changed as supply disruptions in Iraq dent exports by OPEC's second-largest producer and US drilling rates show a slowdown.

The Australian share market has pulled back from earlier gains to close below 5,900 points, handing back strong gains posted at the end of last week.

The Foreign Investment Review Board will not oppose the sale of the Ten Network to CBS, leaving one last obstacle to the takeover of the troubled free-to-air broadcaster by the US media giant.

Vocus Communications is aiming to sell its New Zealand business by the end of June as part of the internet provider's strategy of offloading non-core assets to slash debt.