AAP

Plastic bags are being shunned by councils in Western Australia, which are making the most of Premier Mark McGowan's support for local governments to ban the bag.

The Australian share market has started on a weaker note as investors brace for a slew of local and international economic data this week.

The Australian dollar is a little higher against its US counterpart as the US dollar lifted amid better-than-expected American gross domestic product figures and rebounding oil prices.

Oil prices have rebounded, rising more than one per cent, but Brent crude ended the week nearly three per cent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped.

Gold has risen to its highest in nearly four weeks as political uncertainty led investors to favour bullion over assets considered riskier such as stocks.

Big companies are bullying smaller businesses in Western Australia, with more than half reporting they're not being paid on time, according to a new report.

Steep losses from the heavyweight mining, banks and telco sectors have led the Australian share market lower.

Australia's competition regulator will allow non-NBN high-speed internet providers to pass on federal government's proposed $7-a-month levy for regional services to customers.

Shareholders in failed consumer electronics retailer Dick Smith are a step closer to taking class action against the business on the grounds they were misled about the company's profitability.

The Australian market has settled lower in early trade as a slide in global oil prices overnight weighed on investor sentiment, sending the indices lower.

The Australian dollar is sharply lower against its US counterpart as the oil price plunges five per cent and the US dollar rebounds.

Oil prices have tumbled five per cent as the extension of output curbs by OPEC and other producing countries disappoints investors who had hoped for larger cuts, leading to the biggest daily percentage slide in crude prices since early March.

Gold prices have eased as the dollar came off its lows and world stock markets scaled fresh highs.

The share market has gained ground as strength in the mining and energy sectors outweighed falls by retailers, while the Australian dollar returned to a three week high.

Tourism WA will open shop again in Sydney after nearly seven years as part of moves to boost the industry's contribution to the sluggish state economy.

The company operating Topshop's Australian stores has entered voluntary administration, becoming the latest in a list of retailers to stumble amid sluggish consumer spending.

The Australian share market has opened lower as selling has resumed across the heavyweight financial sector.

The Australian dollar is sharply higher against its US counterpart, breaching above 75 US cents after the Federal Reserve's minutes ruffles investor sentiment and the greenback.

Oil prices have retreated slightly as investors reacted to a smaller-than-expected US petrol stocks draw as they awaited the outcome of discussions in Vienna between OPEC and other oil-exporting countries on whether to extend output cuts.

Gold prices have risen as the US dollar has slipped and minutes of the Federal Reserve's last policy meeting suggest the US central bank was cautious about raising interest rates.

The Australian dollar is weaker as the first ratings downgrade on China by Moody's since 1989 renewed concerns about the economic strength of Australia's key trading partner.

Indian coal miner Adani does not need the financial backing of an Australian bank, former Rio Tinto chief executive Sam Walsh says.

Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses.

Malcolm Turnbull has written to the Western Australian government seeking its interest in a ‘city deal' for Perth.

The Australian market has opened slightly higher after US president Donald Trump's budget plans bolstered Wall Street overnight.

The Australian dollar has fallen back against its US counterpart which has lifted against a basket of major currencies ahead of the release of the Federal Reserve's policy meeting minutes.

Gold prices have fallen, as the US dollar rebounded from 6-1/2-month lows and investors shrugged off heightened political risk following a deadly suicide attack in Britain.

Oil prices have settled a bit higher as expectations of an extension to OPEC-led supply cuts overshadowed a White House proposal to sell half of US petroleum reserves.

The share market has closed lower after falls by the banks and miners offset gains from healthcare, retail and energy companies.

Estimated payouts under the proposed bank levy suggest it will raise less than predicted by the federal government, analysts say.

Woodside Petroleum plans to boost cash flow through expansion of existing projects over the next few years and has ruled out investment in any major greenfield projects in the near term.

The share market has opened in positive territory after strong leads from Wall Street.