AAP

Former federal Liberal MP Sophie Mirabella has found a new career after last month's second consecutive election defeat - working in mining with Gina Rinehart.

Engineering firm UGL has won a $100 million contract to help build water reclamation infrastructure on the NSW south coast.

The Australian share market has opened strongly higher.

The Australian dollar has slipped against the greenback on rising expectations that US interest rates will go up later this year, and ahead of key Chinese and US data.

Oil prices have jumped the most in a month rising more than four per cent after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.

Gold has eased below $US1,350 an ounce as the dollar rises, and the Dow and S&P 500 touch record intraday highs, though uncertainty over the outlook for US monetary policy prevented further losses for the metal.

The big four banks have tumbled as local and global negative sentiment around the sector takes a hold to drag the Australian share market lower.

Westpac shares have dropped almost three per cent after the bank followed its rivals in reporting an increase in doubtful debts over the third quarter.

Optus will focus on its content strategy, underpinned by its English Premier League coverage, to drive earnings growth after an 11.9 per cent first quarter profit fall amid tough price competition.

JB Hi-Fi has welcomed the competition watchdog's green light to make a move for whitegoods retailer The Good Guys.

Telstra will spend an extra $3 billion on its networks and has confirmed it will return $1.5 billion to shareholders in a buyback after its annual profit jumped 36.6 per cent to $5.78 billion.

The Australian share market has opened half a per cent lower, following a negative lead from Wall Street.

Palladium and platinum have risen sharply as bets on lower prices were reversed in thin conditions after the metal broke above key chart levels.

The Australian dollar is higher against the US dollar, passing 77 US cents due to continued weakness in the greenback.

Oil prices have fallen more than two 2 per cent amid oversupply concerns.

The Australian share market has closed lower, hurt by falls in financial and resource giants, including the Commonwealth Bank, Westpac and Rio Tinto.

Outgoing Reserve Bank governor Glenn Stevens has warned that any major boost to the economy might have to come from government spending rather than interest rates.

AGL Energy expects earnings to grow in the current financial year despite unseasonably warm weather at the start of the reporting period and fierce competition for customers.

Commonwealth Bank of Australia chief executive Ian Narev has cited weak wages growth and political uncertainty as threats to Australia's economy, even as the country's biggest bank unveiled a seventh straight record profit of $9.45 billion.

Fairfax Media's new financial year has got off to a bumpy start, with its prized real estate advertising business, Domain, reporting a sharp slowdown in digital revenue growth.

The Australian share market has opened lower.

The Australian dollar has rallied, with analysts tipping it to hit 77 US cents, as global risk appetite increases and after the greenback fell on weak US business productivity data.

Gold prices have edged higher as the US dollar slipped lower against a basket of currencies and concerns over the global economic outlook trumped some expectations that US Federal Reserve could raise interest rates this year.

Oil prices are lower after preliminary data showed a surprise US crude stockpile build last week, heightening worries about a global petroleum glut.

Rio Tinto and BHP Billiton have labelled the reinstalled WA Nationals leader's plan to slug them with higher taxes "ill-conceived" and "damaging".

The Australian share market has closed slightly higher, with the big banks holding up the bourse in light trading following a weak lead from US markets

The WA Liberals can govern without the support of the Nationals, who are still deciding who will lead their party, Premier Colin Barnett says.

News Corporation's full-year earnings have dropped about 28 per cent as growth in its real estate classifieds businesses fails to offset declines in news and book publishing.

ANZ Banking Group's cash profit has slipped 3 per cent in the first nine months of its financial year, weighed down by restructuring charges and bad debts.

The Australian share market is trading mildly higher as investors await clear direction after a tepid session on Wall Street.

The Australian dollar is being resilient, lifting against the greenback despite softer Chinese trade numbers on Monday.

Gold has steadied after falling to a one-week low as downward momentum from stronger-than-expected US jobs figures lost steam, with concerns over negative global economic sentiment lending support.