AAP

The competition watchdog has given the go-ahead for Vocus Communications to merge with M2 Group in a $3 billion deal that will create Australia's fourth largest telco.

The Australian share market has opened lower after lacklustre leads from overseas markets and the National Australia Bank trading ex-dividend.

Gold has fallen to a one-month low, dropping for the sixth straight session as the US dollar shot to a three-month high after US Federal Reserve Chair Janet Yellen raised expectations for a December interest rate increase.

The Australian dollar has softened against the greenback, which rose after the head of the US Federal Reserve endorsed an imminent interest rate tightening bias.

World oil prices sank Wednesday on rising US commercial crude inventories and production and a Federal Reserve-driven stronger dollar.

Wall Street stocks have dropped after Federal Reserve Chair Janet Yellen said the US central bank could lift interest rates in December.

Labor's candidate for the new West Australian federal seat of Burt has hinted the party's policy of a national interest test for gas exports will form a key plank of his election campaign.

Premier Colin Barnett says the state won't be rushed into making a decision on stage two of the controversial Perth Freight Link, despite federal funding hinging on work being under way next year.

Australians should receive tax breaks if they are made to set up savings accounts to help cover some healthcare bills, private health insurer nib says.

More than 120,000 new workers will be needed in the national tourism industry over the next five years, according to Austrade and Deloitte.

The Australian share market has closed slightly higher, buoyed by the big miners.

Macmahon Holdings was hit with large protest vote at today's annual general meeting, after major shareholder CIMIC Group surprised the mining services firm with a large 'no' vote.

Engineering group Downer expects to achieve its 2015-16 profit guidance of $190 million despite a continuing decline in mining-related capex by customers.

The Australian share market has opened more than one per cent higher, boosted by positive leads from markets overseas and a positive outlook for the Australian economy.

The Australian dollar has edged higher after the Reserve Bank left interest rates unchanged but hinted it might be tempted to make a cut soon.

Wall Street stocks rose for the second straight session, led by resurgent oil shares and retailers after a pair of US clothing chains raised their earnings forecasts.

Gold has fallen nearly two per cent to a four-week low, sliding for a fifth straight session as prices come under pressure from a rising US dollar and speculation that the Federal Reserve may lift interest rates this year.

The Australian share market is over 1 per cent higher, ending a six session losing streak, after the Reserve Bank left the door open for a another rate cut.

Western Australia Labor's left faction is hoping to oust Gary Gray from the federal seat of Brand, saying he should be an independent if he doesn't want to toe the state party line.

Construction giant Cimic's Leighton Contractors unit has secured a contract from BG Group for setting up gas infrastructure in Queensland's Surat Basin.

Takeover target Asciano is hopeful Canada's Brookfield Infrastructure can still pull off its $8.9 billion bid, despite local logistics firm Qube moving to block the marriage.

The Australian share market has opened higher on positive US leads and ahead of a possible Melbourne Cup day interest rate cut.

The Dow has pushed back into positive territory for 2015, lifted by a technical bounce in petroleum shares and data showing a seven-year peak in US construction spending.

The Australian dollar has edged lower ahead of the Reserve Bank's interest rate decision.

Oil prices have dropped after data showed China's manufacturing output continued to contract and Russian oil production hit a new record high.

The Australian share market has been dragged down by Australia's biggest companies as global investors steer away from risk assets ahead of Tuesday's Reserve Bank of rate decision.

Businesses are benefiting from the "Turnbull effect" but that won't necessarily stand in the way of an interest rate cut when the Reserve Bank of Australia holds its Melbourne Cup day board meeting.

Perth home prices have suffered a steep fall in October, dropping almost 3 per cent as the number of new dwellings on the market surges.

Westpac expects a pickup in business lending to help prop up earnings this year amid a slowing housing market.

The Australian share market has opened relatively flat as investors await the Reserve Bank of Australia's decision on interest rates, and key economic data from the United States.

The Australian dollar is stronger ahead of key Chinese Caixin, private sector, manufacturing data due out on Monday.

Gold has fallen to a three-week low, extending two days of losses and heading for its biggest weekly drop since August on the chance the US Federal Reserve may still raise interest rates this year.