AAP

The Australian share market has picked up from the positive momentum of the previous session, taking cues from Wall Street and from gains in oil and metals prices.

The Australian dollar has soared to a nine-month high on the back of the US Federal Reserve's dovish comments about interest rates.

Gold has turned lower, consolidating from a 2.5 per cent surge in the previous session when the Federal Reserve cut the number of interest rate rises it forecasts for this year, sending the dollar sharply lower.

The US dollar index has dropped to a five-month low while shares on Wall Street have rallied to lead global equities higher as a dovish US Federal Reserve emboldened investors to take on more risk.

The Australian share market has lifted by nearly 1 per cent, after the US Federal Reserve left its key interest rates unchanged and Australia's unemployment rate fell to 5.8 per cent.

Department store chain Myer has tightened its full-year profit forecast on the back of strong sales growth.

Journalists at Fairfax Media will take industrial action following the announcement 120 editorial jobs will be axed from mastheads in Sydney and Melbourne.

Flinders Mines shares have surged after the Pilbara focused iron ore junior received a $38 million takeover offer from private New Zealand company Todd Corporation, which last year offered to buy Flinders' major project.

Logistics firm QUBE Holdings has raised $250 million through a rights share placement to institutional investors as part of its fund raising related to the Asciano acquisition.

The Australian share market is trading firm, as investors heave a sigh of relief after the US Federal Reserve left its key interest rates untouched.

The Australian dollar is sharply higher after the US Federal Reserve's dovish tone indicating it expected tepid growth in the world's largest eocnomy.

The S&P 500 has closed at its highest level of the year after the US Federal Reserve left interest rates untouched and signalled fewer rate hikes in coming months.

Gold has rallied two per cent to $US1,260 an ounce, turning higher after the Federal Reserve indicated that the United States continues to face risks from an uncertain global economy, pressuring the US dollar.

Troy Buswell's chief of staff Rachael Turnseck engaged in misconduct when she gave misleading information to a Western Australian government inquiry into his 2014 car crashes, the corruption watchdog has found.

The share market has edged higher despite weaker commodity prices and falls on other major markets.

Small business will be better protected against the misuse of market power by bigger players under new changes to competition law, which has been criticised by the Business Council of Australia and Wesfarmers chief executive Richard Goyder.

Western Australian opposition leader Mark McGowan says his time at Labor's helm will be "finished" if he fails to win the next election.

Startup companies will get a leg-up under government tax breaks to encourage risk taking.

Broadspectrum's chair says she has been shocked by personal attacks on her arising from her company's involvement in asylum-seeker detention centres in Nauru and on Manus Island.

The Australian stock market is trading lower after materials and healthcare stocks weighed on Wall Street in a second straight day of quiet trading.

Mining giant BHP Billiton has called for tax and workplace reforms in Australia, wading into the ongoing political debate ahead of the federal election later this year.

Healthcare and materials stocks have pulled Wall Street lower in a second straight day of quiet trading as investors cautiously awaited news from the US Federal Reserve's two-day policy meeting.

The Australian dollar is continuing to slide as oil prices sink.

Gold has fallen to its lowest in almost two weeks ahead of a Federal Reserve statement that is expected to give clues on the pace of future US rate rises.

Mining, energy and banking stocks have pushed the Australian share market more than 1 per cent lower amid profit taking.

The Pacific National rail business and the Patrick container terminal business are set to come under new ownership after Asciano agreed to a $9.05 billion takeover deal that is designed to sidestep regulatory concerns.

The Reserve Bank of Australia has put a positive spin on the local jobs outlook, but says another rate cut could be on the cards because of weak inflation.

Western Australian opposition leader Mark McGowan has been given the blessing of caucus after Stephen Smith's failed tilt to topple him.

Fortescue Metals Group has played down a downgrade by ratings agency Moody's, saying it will have no impact on its debt structure.

The Australian stock market has opened slightly lower off the back of light trading on Wall Street overnight.

Wall Street has closed little changed in light trading as consumer discretionary gains countered losses in energy shares and investors laid low ahead of a US Federal Reserve meeting.

The Australian dollar has slipped on the back of an oil price slump.