AAP

M2 Group's $3.75 billion merger with rival Vocus Communications has been approved by shareholders, creating Australia's fourth biggest telco.

Retail giant Woolworths has been ordered to pay more than $11 million to a Victorian property developer for breaking a contract for the construction of a Masters hardware store.

The Australian share market has recovered from a negative start to gain ground, led by energy and mining stocks.

Vessels are being evacuated from the port at Port Hedland as a tropical low tracks towards the coast of Western Australia.

After five consecutive years at the top of Forbes Australia's rich list, mining magnate Gina Rinehart is no longer Australia's wealthiest person.

The Samarco mine in the southeastern city of Mariana, where last November a huge toxic waste spill caused Brazil's worst environmental disaster, has had a new spill although no victims have been reported, the company says.

A consortium led by logistics group QUBE Holdings has made a binding takeover proposal for rail and ports operator Asciano, hoping to trump a rival offer from a group led by Canadian predator Brookfield Infrastructure.

The Australian share market has opened slightly lower, hurt by financial stocks following falls on Wall Street.

Wall Street dropped sharply after the US Federal Reserve frustrated stock investors hoping for a strong sign it might scale back future interest rate hikes because of recent financial and economic turmoil.

The Australian dollar is being dragged lower following dovish comments from the US Federal Reserve after it left interest rates on hold.

Gold has turned positive and has risen to a 12-week high, after the US Federal Reserve said it was "closely monitoring" global economic and financial developments, and held interest rates steady as expected.

Australian stocks snapped a three-day winning streak on Wednesday as investors retreated on further falls in oil prices and the Chinese market.

The Australian dollar jumped on the latest inflation figures, but that knee-jerk reaction doesn't tell the real story.

Gold miner Evolution Mining has lifted its full-year production guidance after strong output from recently acquired mines took production to record levels.

Rio Tinto has agreed to sell its Mount Pleasant thermal coal mine site in the NSW Hunter Valley for $US224 million ($A319 million) plus royalties.

The Australian share market has opened lower despite solid leads from markets overseas.

With oil prices already below the World bank's predicted levels for 2016, the global financial body has lowered its forecast.

The Australian dollar has shrugged off a poor performance from China's stockmarket.

Gold has risen to a 12-week high, shrugging off strong stocks with nervous investors moving into safe-havens as the US Federal Reserve began a two-day meeting expected to give clues about the timing of the next interest rate increase.

Wall Street has rebounded over 1 per cent, driven by a surge in oil prices and strong quarterly results from 3M, Johnson & Johnson and Procter & Gamble.

Business conditions remain above average while confidence is still strong, despite recent turmoil in global oil and equity markets.

The Australian share market has closed nearly 2 per cent higher, posting gains for a third straight session, as a strong rise in oil prices lifted markets worldwide.

The Australian share market has opened higher, driven by solid gains on international markets and oil prices rising more than nine per cent.

The Australian dollar is softer against the greenback following a rebound in risk appetite.

Gold has fallen as hints of more monetary stimulus from the European Central Bank weighed on the euro and pushed stocks higher, denting appetite for alternative assets.

Dick Smith will close every one of its concessions in David Jones department stores next week as the receivers seek a buyer for the ailing electrical retailer.

The Australian share market has strung together two positive sessions in a row for the first time this year.

A crackdown on improper health insurance claims is set to boost Medibank Private's full-year profit.

Beach Energy and Santos are the latest Australian oil and gas companies to flag big write-downs, with Beach announcing late today it would cut capital spending and make impairment charges of up to $650 million.

Australian stocks have opened up more than a half per cent after a bounce in oil prices and hints by the head of the European Bank of more stimulus measures.

The Australian dollar has soared after comments from the head of the European Central Bank boosted prospects of further stimulus.

Wall Street has staged a modest rally as oil prices recorded their biggest gain this year and ECB President Mario Draghi raised hopes of more stimulus for Europe.