AAP

The Australian dollar is a touch higher against its US counterpart.

ANZ's weaker-than-expected $3.4 billion half-year cash profit has weighed on the big four banks and pulled the share market slightly lower.

The head of Western Australia's public sector union has defended what is being viewed as a muted response to the biggest slashing of the public service in decades and job losses that might be in the thousands.

The federal government has confirmed it will build Sydney's second airport after the operator of the city's main Kingsford Smith airport said it will not take up an option to develop the project.

The Reserve Bank of Australia has held the cash rate steady, signalling it is less concerned about the growth of household debt and low inflation.

Chinese direct investment in Western Australia was more than 10 times higher last year than it had been in calendar 2015, according to the latest data compiled by KPMG and the University of Sydney.

Retail giant Woolworths has delivered strong comparable food sales for the third quarter in a sign it has wrested customers from arch-rival Coles.

ANZ Banking Group shares have tumbled as much as 3 per cent after the lender fell short of most analysts' expectations with a first-half profit of $3.4 billion.

The Australian share market has slipped in early trade, after softer-than-expected results from ANZ dragged indices lower, despite some gains on Wall Street overnight.

The Australian dollar is sharply higher against its US counterpart and comfortably back above 75 US cents.

Oil has slipped more than one per cent as rising crude output on Libya and the United States counters OPEC-led production cuts aimed at clearing a supply glut.

Gold prices have fallen one per cent to a three-week low, pressured by rising US stocks and an agreement that averted a US government shutdown.

The Australian share market has defied negative overseas leads to close higher as investors look forward to the big four banks' profit reports.

Origin Energy has sold its under-development Darling Downs solar farm in Queensland to gas pipelines operator APA Group, but will buy all the electricity generated by the project until 2030.

The federal government won't guarantee Tasmania and South Australia will be no worse off under potential changes to the way GST revenue is carved up among the states.

The Australian share market has opened slightly higher despite negative leads from overseas markets on Friday.

The Australian dollar is steady against its US counterpart despite volatility.

Oil prices has settled higher on growing hope that OPEC might agree to extend production cuts long enough to reduce a global crude glut, but crude prices still posted a weekly decline.

Gold has closed higher as forecast-beating eurozone inflation data boosted the euro versus the US dollar, while global stock markets retreated from Wednesday's record highs on concerns about global trade.

The Australian share market has eked out a tiny gain to close higher for a sixth straight session, despite a mixed performance in the heavyweight banking and mining sectors.

A new report has rejected changes to tax rules that some advocates say could have reaped billions of dollars in extra revenue from the LNG industry.

Westpac appears to have ruled out funding the controversial Adani mine by limiting lending to basins that are already producing thermal coal.

Jetstar has lashed out at a passenger survey that ranked the Qantas-owned budget carrier one of the worst airlines in the world.

The Australian share market has opened slightly lower, following soft leads from Wall Street's Dow Jones and S&P500 and a fall in oil prices.

The Australian dollar is down against its US counterpart, hitting a four-month low after US president Donald Trump again targeted the imports issue, before retracing some lost ground.

Crude prices are slightly lower after a volatile session, as the restart of two key Libyan oilfields and concerns about lacklustre petrol demand feed concern over whether major oil producers can alleviate the glut of global inventories.

Gold has resumed its downward slide from a five-month high in mid-April, giving up gains that came after US president Donald Trump announced unfunded tax cuts, while comments from European Central Bank president Mario Draghi weakened the euro.

The share market has posted a modest gain as strength in the heavyweight financial sector offset a slump in energy stocks as the federal government flagged potential restrictions on gas exports.

Major gas exporters on the east coast have promised to ensure higher domestic supplies, but the industry has slammed the federal government's new restrictions on gas exports.

Newcrest Mining expects to hit the bottom end of its full-year guidance range as disruptions at its two Australian mines affect production.

Shares in Wesfarmers have fallen after the company unveiled a mostly weak third quarter for its retail businesses, including softer growth from its supermarket giant, Coles.

The Australian share market is flat and struggling to gain momentum with a lack of local data and uninspiring leads from overseas failing to excite investors.