AAP

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.

An audit of the trouble-plagued Perth Children's Hospital firewalls has found some minor defects but no systemic issues posing an ongoing safety risk.

Embattled Perth Lord Mayor Lisa Scaffidi has accused the WA Labor party of running a four-year campaign against her with the backing of two of her strongest critics on council.

Former Woodside Petroleum executive Keith Spence has resigned as a director of Oil Search to join rival oil and gas producer Santos as chairman.

Crown Resorts has hit back against Andrew Wilkie with an open letter accusing the federal independent MP of playing political games by alleging misconduct at Crown's Melbourne casino.

The Australian share market has opened higher following a solid rise on Wall Street amid optimism that US president Donald Trump's tax plan is moving closer to execution.

The Australian dollar has slipped against its US counterpart which has strengthened on increased optimism for US president Donald Trump's tax reform plan after the US Senate approved a budget blueprint.

Oil prices have risen slightly in see-saw trade, ending the week up on support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region after contending with weak demand data.

Gold prices have fallen after the US Senate approved a budget blueprint that paves the way for tax cuts, causing stocks, the dollar and bond yields to rise.

The Australian share market index has closed at its highest level since May this year as the improved potential for US tax cuts and a turnaround in iron ore futures lifted sentiment.

National Australia Bank chief executive Andrew Thorburn insists the bank lifted interest-only mortgage rates to meet regulatory requirements, not to make more money.

New BHP Billiton chairman Ken MacKenzie has backed his chief executive's performance and cautioned activist shareholders that the board will ultimately determine the company's direction.

The Australian share market has started lower with a dip in oil prices weighing on the local energy sector, as Wall Street closed flat after a dip in technology shares.

The Australian dollar has gained yet more ground against the US dollar after a drop in the local unemployment rate.

The share market has for a second consecutive day fallen back after breaking through 5,900 points, as significant falls by the big miners almost outweighed gains in most other market sectors.

The consumer watchdog has succeeded in having unfair terms from the standard contract of a major waste management company – which set up shop in Western Australia last year - binned, in the first enforcement of new laws designed to protect small businesses.

Westpac is refunding about $65 million to 200,000 customers who did not receive discounts on insurance and other products to which they were entitled.

South32 shares have dipped after the diversified miner warned it may be facing cost pressures from rising raw material input costs and a weaker US dollar.

Western Australian public servants have accepted a two-year pay deal with the state government, despite it breaking a pre-election promise for a 1.5 per cent a year deal.

Energy giant Woodside Petroleum has posted a fall in third-quarter production following scheduled maintenance and a lower share of pipeline gas from the North West Shelf.

The Australian share market has opened higher, with weakness in mining stocks tempering strength in financials and a strong lead-in from a record overnight close on Wall Street.

Oil prices settled slightly higher on Wednesday, with Brent touching three-week highs and then retreating after a surprising drop in U.S. refining rates and an unexpected build in fuel stocks signaled slower demand in the world's top oil consumer.

Gold fell for a third straight session on Wednesday on pressure from the U.S. dollar's gains for much of the session and amid speculation that the next chair of the Federal Reserve could be a policy hawk.

Premier Mark McGowan says he is hopeful negotiations with the AFL on its move to the new Perth Stadium for the 2018 season will be complete by the end of the week.

The share market's recent run of gains has stalled due to weakness among telcos and miners and heavy falls from Crown Resorts and Lendlease.

Crown Resorts has rejected claims by whistleblowers tabled in federal parliament alleging the casinos operator deliberately tampered with poker machines to increase losses for gamblers.

Mining giant Rio Tinto and two top former executives have been charged with fraud by US market regulators for allegedly inflating the value of an African coal business that cost the company a $2.9 billion write-down.

BHP Billiton has reaffirmed its full-year production guidance for all its commodities despite posting softer quarterly production for iron ore and copper.

Australians shares have started marginally higher, as investors tread cautiously following falls in mining stocks and news that Rio Tinto has been charged with fraud.