AAP

Gold prices have rallied two per cent to a four-week high, buoyed by rising tensions in the Middle East and a sharp drop in stocks following weak Chinese data.

Consumers have started the year in an upbeat mood as confidence about their finances improves.

US stocks have begun 2016 sharply lower, with the Dow marking its worst start to a year since 2008.It came after weak Chinese economic data fanned fears of a global slowdown.

The Australian dollar has fallen to a two week low amid concerns about the Chinese economy and renewed Mideast tensions.

The Australian share market has made slight gains but is not showing any signs of a Christmas rally.

A Perth man who cheated Indonesian farmers out of more than $600,000 by falsely claiming to sell Australian cattle "greatly tarnished" business relations between the countries, a judge says.

The competition watchdog is seeking market feedback after a fresh undertaking by Canada's Brookfield Infrastructure in its takeover battle for ports and rail operator Asciano, which includes the divestment of its bulk rail operations in Western Australia.

Broadspectrum says a $692 million takeover offer from Spanish group Ferrovial undervalues the company.

The Australian share market has started on a strong note following positive cues from Wall Street, with gains across the board.

Brent crude oil prices have touched their weakest level in over 11 years on concerns of global oversupply, while Wall Street ended higher as investors went shopping after two days of sharp declines.

The Australian dollar is higher, getting support from stronger gold, iron ore and copper prices.

Gold futures prices are up than one per cent as weaker than expected US data and uncertainty about how fast the Federal Reserve will tighten interest rates next year weighed on the US dollar.

US stocks have ended stronger, helped by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidised health insurance.

The Turnbull government has sought to head off a Labor-trade unions scare campaign on weekend penalty rates by leaving any change to the independent workplace umpire.

The Australian share market has closed almost flat as a small rally in mining and energy stocks outweighed a weak lead from US markets.

Contractor Broadspectrum has upgraded its earnings guidance for the 2016 financial year, raising the stakes for its takeover bidder.

Billionaire casino mogul James Packer has resigned as a director of Crown Resorts, fuelling speculation that he wants to completely take over Crown.

The Australian share market is almost flat after starting the session much lower, with key banking and mining stocks continuing to trade in the red.

The Australian dollar is higher, getting some support from stronger metals prices and a weaker US dollar.

Gold rose more than one per cent on Friday, recovering from its biggest daily loss in five months as the US dollar retreated, but remained near multi-year lows after the Federal Reserve lifted US interest rates.

The Australian share market has finished slightly higher as strength in banking stocks helped pare back earlier losses.

Andrew Forrest has finalised the purchase of a $16 million oceanfront house in Cottesloe from an elderly man who has apologised for implying the billionaire pressured him into the sale.

Law firm Slater & Gordon, which is renowned for backing shareholder class actions, could be on the receiving end after competing firm ACA Lawyers flagged possible action.

As Western Australia moves to follow NSW in legalising Uber, the taxi industry says the devil will be in the detail of the proposed reforms.

The Australian share market resumed its downward slide on Friday, after a two-day respite.

The Australian dollar fell to a one month low, weighed down by weaker commodity prices and falls in US stocks.

US stocks have led a decline in most equity markets around the globe, a day after the Federal Reserve's first interest rate rise in nearly a decade, as continued pressure on oil weighed on the energy sector.

Gold prices have fallen more than one per cent, after the Federal Reserve increased US interest rates for the first time in nearly a decade and hinted at more increases in 2016.

The US Federal Reserve's long-awaited rate rise seems to have clinched a pre-Christmas "Santa rally" for the Australian share market after local stocks closed higher for a second straight day.

Billionaire James Packer's private investment firm, Consolidated Press Holdings, has downplayed speculation that he is seeking to privatise casinos operator Crown Resorts.

The Australian share market has jumped higher in early trade, with the US Federal Reserve's decision to hike interest rates clearing the way for a likely Santa rally.

The Australian dollar is higher following a subdued market reaction to the US Federal Reserve's first interest rate hike in almost 10 years.