AAP

Telstra's plan to pay down debt and create new shareholder returns by monetising the receipts from the national broadband network has been rejected by the rollout company.

The Australian share market has bounced back from its previous sessions' 10-week low and opened higher with investor nerves cooling after North Korea fired a missile over Japan.

The Australian dollar is a little higher against its US counterpart which rebounded as markets reversed their risk averse response to North Korea's missile firing over Japan..

US petrol futures have jumped four per cent while crude prices are mixed after a hurricane shut down 16 per cent of the country's refining capacity, curbing fuel production and further bloating crude inventories.

Gold has jumped to its highest since November, extending the prior day's rally above $US1,300 per ounce as investors bought bullion as insurance against falling prices of other assets after North Korea tested a ballistic missile over Japan.

The Australian share market has slumped to a 10-week low after North Korea fired a missile over Japan, escalating tensions on the Korean peninsula and spooking Asian markets.

Engineering and mining contractor Downer says its acquisition of facilities management provider Spotless and new rail infrastructure projects will drive the company's growth.

Atlas Iron has swung to a full-year profit as a rebound in iron ore prices helped the junior miner recover from losses following a write-down a year earlier.

The Australian market has opened sharply lower after Wall Street closed little changed but with energy and bank stocks dented as Tropical Storm Harvey crippled the US energy hub in Texas. 

Gold has rallied to a 9-1/2-month high, breaching $US1,300 per ounce as the dollar fell and the euro rose after the head of the European Central Bank (ECB) said that the euro zone's economic recovery had taken hold at a meeting of central bankers.

The Australian dollar has surged against its US counterpart which has fallen further with Federal Reserve chair Janet Yellen's making no mention of monetary policy at or since the Jackson Hole central bankers meeting.

US crude oil futures has fallen as Tropical Storm Harvey has kept hammering the US Gulf Coast, knocking out several refineries, which backed up crude supplies and disrupted fuel production.

The Australian share market has ended the day down, with a rise in global oil prices leading the energy sector higher but unable to offset broad-based losses.

A decision on whether to sell betting agency TAB will not be made until after the Western Australian budget is handed down next week.

A Western Australian Liberals-led High Court challenge over the state's GST share will be partly financed by crowdfunding.

Commonwealth Bank of Australia will face an inquiry by the prudential regulator after a series of issues at the country's largest bank prompted concerns about its governance, culture and accountability.

Ten Network Holdings has been bought by US media giant CBS in a deal that should keep Australia's third commercial free-to-air broadcaster on air.

The Australian market has opened lower, dismissing Wall Street's gains following the Jackson Hole, Wyoming, annual meeting of global central bankers.

Gold has firmed after US Federal Reserve Chair Janet Yellen made no mention of monetary policy in her much-anticipated speech, while investors awaited clues from European Central Bank President Mario Draghi.

Oil prices have risen nearly one per cent as the US dollar fell and the US Gulf Coast braced for Hurricane Harvey, on track to become the biggest storm to hit the United States mainland in more than a decade.

The Australian dollar is higher against its US counterpart after speeches at the Jackson Hole, Wyoming central bankers meeting disappointed with little on monetary policy, prompting the greenback to fall.

The Australian share market has closed mixed, with a stronger energy sector balancing out broad-based losses

A company has been fined $65,000 after a mine worker in the Goldfields region narrowly escaped with his life during a site accident.

Australia Post has nearly trebled its full-year profit to $95 million in Ahmed Fahour's final year as chief executive, boosted by another strong performance by its parcels unit.

Australia's biggest airline, Qantas, said its net profit fell as the benefits of lower fuel prices were offset by the reduction in net passenger revenue and after a one-off gain in the prior year.

The Australian market has opened lower amid investor caution ahead of the annual central bankers meeting at Jackson Hole, Wyoming.

The Australian dollar has recouped some of its previous session losses against its US counterpart, unable to let go of the key 79 US cents mark.

Gold prices have drifted lower, pressured by a firmer US dollar as investors await cues on further interest rate rises from central bankers meeting in Jackson Hole this week.

The Australian share market has closed slightly higher, led by gains in the resources and a steady energy sector, offsetting a flat day for the major banks.

The Ten Network Holdings' billionaire shareholders Lachlan Murdoch and Bruce Gordon have been given the all-clear by the competition watchdog to make a joint takeover bid for the troubled free-to-air broadcaster.

The dual citizenship debacle engulfing Australian politics will return to the High Court in Canberra for a hearing on October 10, 11 and 12 as the legitimacy of several parliamentarians remains uncertain.

Oil and gas producer Santos has reduced its half-year loss to $US506 million ($A640 million) even though it had an impairment charge of $US689 million on account of lower oil price forecasts.