AAP

The Australian share market regained some heavy early losses but still closed lower as weakness among the big banks weighed upon the bourse.

Federal Labor has pledged to hold a royal commission into misconduct in the banking and financial services sectors if the government ignores its call for an inquiry.

The Australian share market has opened lower.

Gold has jumped almost two per cent as the dollar fell to a 17-month low against the Japanese yen following minutes from the US Federal Reserve's latest meeting and falling global shares fell rekindled investor appetite for safer assets.

US stocks have dropped as oil prices slid and worries about the global economy resurfaced, dragging down the US dollar against the Japanese yen and causing investors to flee riskier assets.

The Australian dollar has slipped on the back of concerns over the declining construction sector.

The share market has gained ground thanks strength in energy and materials stocks.

Troubled steel and mining group Arrium has been placed in voluntary administration, following discussions with its lenders.

The Australian share market has opened higher.

The Australian dollar has bounced back amid the US Federal Reserve's caution and growing signs China's economy is stabilising.

Gold has fallen one per cent as a recovery in equities prompted some profit-taking after Tuesday's rally, while minutes of the US Federal Reserve's last policy meeting showed concern about "appreciable downside risks" in the global economy.

US stocks advanced bolstered by gains in healthcare shares after the collapse of the $US160 billion ($A212.30 billion) merger of Pfizer and Allergan, and by a rise in energy shares.

Gains by energy stocks have pushed the share market modestly higher, but most of the major banks are still feeling pain.

Broadspectrum has urged shareholders to reject an increased takeover offer from Spanish suitor Ferrovial that values the company at $769 million.

Transport Minister Dean Nalder says he can't rule out insider trading by state government staff in relation to a major contract decision, but the corporate watchdog has so far not indicated any concern.

The Australian share market has opened higher.

Gold has rebounded more than one per cent, snapping two days of losses as risk appetite evaporated, pushing global stocks lower and knocking the US dollar to a 17-month low against the yen.

Wall Street has fallen sharply as investors took gains off the table following a recent rally and ahead of an upcoming quarterly reporting season that is expected to reveal sharply lower earnings.

The Australian dollar has tumbled further on the back of Reserve Bank comments and disappointing economic data.

The Australian share market closed sharply lower, hurt by steep falls in energy, mining and banking stocks.

The competition watchdog has announced plans to investigate the cattle and beef industry following concerns that beef processors hold excessive power following industry consolidation around Australia.

The soaring Australian dollar has the Reserve Bank on high alert, with the governor ramping up his rhetoric about its recent rise.

Wesfarmers has confirmed it is investigating accusations that supplier rebates may have artificially inflated Target's earnings.

Singapore Airlines could face a battle from a Chinese competitor if it wants Air New Zealand's cornerstone stake in Virgin Australia, according to analysts.

The Australian share market has opened lower.

Gold has fallen after strong US economic data boosted investor risk sentiment and a top US Federal Reserve official said an interest rate rise is likely ahead of the market's current expectations due to fading economic concerns.

The Australian dollar has dipped towards 76 US cents on the back of low oil prices and weak retail sales data.

US stocks have ended weaker, pulling back from a recent rally that took them to new 2016 highs, as losses in commodity-related and industrial shares offset gains in healthcare.

Australia's fledgling medicinal cannabis market continues to gain momentum, with MGC Pharmaceuticals planning an entry.

A mixed performance from the banks and losses among the resource stocks have pushed the Australian share market slightly lower.

Telecom operator Optus plans to slash up to 480 jobs as part of a restructure.

Cottesloe-based Quickflix plans to cut staff, reduce directors' pay, and close offices in Sydney and Auckland in an effort to turn around the troubled streaming service.