AAP

A merger between Southern Cross Austereo and affiliate partner Nine Entertainment isn't on the cards even if the federal government's media reforms get through the Senate.

A recovery in commodities prices and ongoing cost reductions have helped diversified miner South32 swing to a solid full-year profit.

The Australian market has opened lower after Wall Street's key indexes fell following President Donald Trump's threat to shut down government if Congress doesn't fund his Mexico border wall.

The Australian dollar has crept back above 79 US cents - just.

Oil prices have risen after US crude inventories declined for the eighth straight week and as a storm approached the Gulf Coast with the potential to disrupt oil and refined products output.

Gold prices have edged up, drawing support from political uncertainty in the United States and the weak dollar before a major central banking conference there this week.

The share market has reversed earlier gains to close lower after falls by financials and healthcare companies outweighed gains in the energy and telco sectors.

Cricket Australia has recovered almost 3,000 scalped tickets for December's Ashes Test in Perth.

The Western Force has won its right to appeal the Australian Rugby Union’s decision to axe the team, while the ARU is set to be on the receiving end of a fresh wave of criticism after knocking back a large financial offer from billionaire Andrew Forrest.

Woolworths' heavy food discounting has paid off, with the supermarket giant's sales growth beating analysts’ expectations.

Vocus Communications has reported a net loss of $1.46 billion after making heavy write-downs on goodwill for some of its recent acquisitions and abandoned paying a dividend to redirect funds to projects and debt reduction.

The Australian market has opened higher after Wall Street rose following a report that President Donald Trump's administration was making progress on tax reform.

The Australian dollar has fallen against its strengthened US counterpart and looks to be heading back toward the 79 US cent mark.

Oil has inched up, lifted by expectations of another crude stockpile drawdown in the United States but price gains were limited amid the reopening of Libya's largest oil field.

Broad based gains have driven the Australian share market higher with mining stocks leading the way, supported by a lift in iron ore prices and BHP Billiton's return to a full-year profit.

Seven Group Holdings' shares have surged despite a profit slump, as the diversified group boosted equipment sales to the mining industry and gained $540 million from selling its WesTrac China business.

Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price.

BHP Billiton has joined its peers in sharply lifting dividends as stronger prices for iron ore, coal and petroleum helped the global miner post a solid return to profitability.

The Australian market has opened solidly higher following the mainly positive lead of Wall Street's key indexes.

The Australian dollar has extended its gain against its US counterpart as the greenback weakened.

Oil prices have fallen nearly two per cent ahead of monthly contract expiration, pulling back from last week's rally built on signs the global market is starting to rebalance from chronic oversupply.

The Australian share market has closed lower, with most sectors in the red as investors reacted negatively to a mixed bag of company earnings reports.

Shares in BlueScope Steel have fallen more than 20 per cent despite its full-year profit more than doubling, after the company offered a mixed outlook on the back of rising costs.

Investors have dumped shares in Vocus after Australia's fourth-biggest telco ended a $2.2 billion bidding war for the company, saying the two suitors were unable to support the buy on the board's terms.

The Western Australian government is considering suing the Australian Rugby Union for more than $100 million over the decision to axe the Western Force, threatening to bankrupt the body.

Australian shares have started the week in the red following falls in international markets and dragged down by a sharp loss in BlueScope Steel stocks.

Fortescue Metals has flagged it will sustain higher payouts for shareholders after a rebound in iron prices and lower costs helped it more than double full-year profit.

Tony Abbott will be spending the week far from the dramas of parliament, as a teacher's aide in the Kimberley.

The Australian dollar is up sharply against its US counterpart back above 79 US cents amid a slight rebound in risk appetite following US President Donald Trump's firing of controversial Trump adviser Steve Bannon.

Oil prices have risen sharply, as the dollar fell and US drillers cut rigs, feeding a rally that boosted global benchmark Brent crude to a weekly gain while US crude was virtually flat on the week.

Gold prices have closed little changed after jumping to their highest in more than nine months as the US dollar retreated on political uncertainty in the United States and a suspected Islamist militant attack in Spain boosted bullion's safe-haven appeal.

The share market has closed lower after increased political uncertainty in the US sparked a sharp sell-off on Wall Street and soured global risk appetite.