AAP

The Australian dollar is lower against the greenback, which made broad-based gains on the back of US data. 

Gold has fallen more than one per cent, as the US dollar and global shares rose, but fund buying persisted as investors expected a G20 summit would produce little in the way of a co-ordinated stimulus program. 

The Australian share market has finished flat as volatility continues amid weakness in the resources sector.

Australia Post boss Ahmed Fahour is confident a new two-tier mail system and higher stamp prices will get the organisation back on its feet despite falling letter volumes.

Any trade union-backed court challenge to the state government's updated wage policy would result in job losses in the public sector, Treasurer Mike Nahan warned today, as above inflation pay rises would need to be offset through lower staff numbers.

Woolworths has appointed a new boss to revive the retail giant, hammered by weak earnings, stiff competition and its failed hardware chain Masters.

The Australian share market is lower in early trade, as investors remain uncertain amid volatile markets after stocks slid in China but rose on Wall Street overnight.

Wall Street has posted solid gains as higher oil prices reduced fears that banks could be hit by debt defaults and investors saw opportunities after weeks of volatility.

The Australian dollar has been pushed higher following a surge in global oil prices.

Spot gold has risen, buoyed by a strong technical formation and the potential for a bullish "golden cross" to form, while the futures market pared losses after feeling earlier pressure from the strong equity markets. 

Australian stocks have closed virtually flat after the market staged a turnaround during afternoon trade.

Former treasurer Peter Costello will lead Nine Entertainment Co through what the group hopes will be sweeping changes to media regulation in Australia.

Crown Resorts has reported a slump in normalised first-half profit, with Perth and Melbourne maintaining their contribution but weak market conditions in Macau affecting its joint-venture casino resorts there.

The Australian share market has opened slightly higher after Wall Street performed better overnight amid increased oil prices.

Gold has risen above $US1,250 an ounce and has neared a one-year high, acting as counter against risk alongside top-rated government bonds as oil's earlier weakness rippled into global equity markets.

The Australian dollar has softened, following the fortunes of global shares.

US stocks have mounted a late-session rally to close higher after an increase in oil prices helped reduce investors' fears about banks' vulnerability to energy companies struggling to pay their debts.

The Australian share market has finished 2 per cent lower, driven down by heavy selling of the big banks and miners.

Takeover target Asciano has lifted its first-half profit on the back of strong coal haulage volumes but warns its earnings for the full-year could still be flat.

Iron ore miner Fortescue Metals Group will continue slashing costs after first-half profit dropped 4 per cent to $US319 million ($A442 million), as fellow miner BC Iron reported a half-year loss of $62.9 million amid falling prices.

Shares in Atlas Iron have surged despite the iron ore miner reporting a half-year loss of $114 million.

WorleyParsons aims to offload more than $100 million of assets after a 77.9 per cent slump in first half profit led it to scrap its interim dividend.

The Australian share market is around one per cent lower after a sharp slide in oil prices prompted selling on Wall Street.

Telstra has appointed the boss of rail and ports operator Asciano, John Mullen, as its new chairman as the mobile giant seeks new growth areas.

Shares in Wesfarmers have slumped after losses from the group's coal mines partly offset Coles' and Bunnings' strong gains.

The Australian dollar has lost some steam after the recent recovery in oil and equities fizzled out.

Gold has risen about one per cent, spurred by a fall in global equities and inflows into bullion funds that helped the precious metal recover ground lost in previous sessions.

Wall Street stocks have slid, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year.

The Australian share market has closed lower, with early gains evaporating as investors undertook strategic sell-offs.

Kerry Stokes' Seven Group Holdings will undertake another share buy-back after tough market conditions pushed first-half profit down.

Home builder Cedar Woods Properties is on track to deliver a record result for a sixth straight year and has upgraded its earnings guidance after doubling first-half profit.

Qantas chief executive Alan Joyce is basking in the glow of the airline's record first-half profit, and plans to stick around for more.