AAP

New Reserve Bank governor Philip Lowe kept a steady hand at the tiller using his first monthly board meeting to leave the cash rate at record low 1.5 per cent.

A lack of clear information in Australian broadband advertising is contributing toward unrealistic expectations of internet speed, the chairman of the consumer watchdog says.

Netflix rival Presto will close at the end of January after Seven West Media agreed to sell its 50 per cent stake in the streaming service to co-owner Foxtel.

The Australian share market is lower, reflecting the weakness in global markets overnight and nervousness by investors ahead of the Reserve Bank's decision on local rates.

US stock investors have had a weak start to the fourth quarter, with financials, consumer staples and utilities pulling the S&P 500 lower.

Oil has risen more than one per-cent, with Brent settling above $USUS50 a barrel the first time since August and US crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.

Gold prices have slipped as the US dollar gained on stronger-than-expected US manufacturing data and investors awaited jobs data later this week for clues about whether US interest rates would rise by the year-end.

The Australian dollar is slightly higher against the US dollar on increased risk appetite, with the Reserve Bank of Australia widely expected to keep the cash rate on hold later on Tuesday.

Strong gains among financial and energy stocks have driven the share market higher despite lower trading volumes as most states break for a public holiday.

Woolworths has completed the sale of its profitable Home Timber and Hardware franchise as part of its $1.5 billion exit from the home improvement sector.

National Australia Bank has completed the sale of 80 per cent of its life insurance business to Nippon Life, and expects a loss of between $1.2 billion and $1.3 billion on the deal.

Perth's ‘Taj Mahal on the Swan', the unfinished, derelict mansion owned by Pankaj and Rhadika Oswal, is finally being demolished. CLICK THROUGH TO SEE MORE PHOTOS.

The Australian share market has opened higher.

Gold prices have fallen in volatile trading as safe-haven demand dwindled after stocks in major markets largely recovered from a sell-off on easing concerns about Deutsche Bank.

Oil prices are higher after settling mixed while posting their second straight monthly gain on OPEC's planned output cuts, even as scepticism about the cartel's pledge grew after data suggested another record high in its production.

The Australian dollar is higher against the US dollar as global appetite lifts risk currencies against the greenback.

The share market has ended the week with a fall, hurt by financial and resources stocks amid concerns about Deutsche Bank's future and the possible implications of its financial woes.

The former chief executive of a Western Australian shire, who stole almost $600,000 over four years and gambled it away, has been jailed for four-and-a-half years.

A company has been fined $110,000 over the death of a worker at a mine in Western Australia's East Pilbara region.

Struggling retailer Woolworths is considering offloading its petrol stations, not long after striking deals to rid itself of its loss-making hardware business.

The Australian share market has opened lower.

WTI oil has jumped more than one per cent and Brent has neared $US50 a barrel on optimism over OPEC's first planned output cut in eight years, although gains were limited by doubts the reduction would make a substantial dent in the global crude glut.

Gold is up a shade after the US dollar flip-flopped in the wake of mixed US data and as scepticism grew over whether OPEC members would be able to implement production cuts that could fuel inflation.

The Australian dollar has fallen against its US counterpart after global risk appetite took a hit on news hedge funds have concerns about Deutsche Bank.

The share market has closed at its highest level in a month after major oil producers surprisingly agreed to cut production, giving energy and resource stocks a boost.

Clive Palmer has lost a bid to sue the liquidators of Queensland Nickel for not returning assets to his possession when the company collapsed, with a judge saying the proposed lawsuit would be a "startling affront to justice".

Perth-based Avita Medical has struck a distribution deal in Iran for its spray on skin products for the treatment of burns, wounds and skin defects, potentially paving the way for a new market for the the group.

The state government will establish a rural fire service in response to January's deadly bushfires at Yarloop, but it won't be ready in time for this summer.

Shares in Programmed Maintenance Services have slid more than 20 per cent after the labour hire and maintenance group slashed its earnings guidance for the current financial year.

The Australian share market has jumped nearly one per cent in early trade on the back of positive news for the energy sector after OPEC struck a deal to limit crude output.

Wall Street ended higher after an OPEC agreement to limit crude output fuelled a rally in oil and more than offset nervousness about a tight race for the US presidency.

The Australian dollar is edging up against the greenback after OPEC producers agreed to cut output.