AAP

Cabcharge is working frantically to get its taxi payment app off the ground in the next six months.

Shipbuilder Austal remains in with a chance to win contracts to build navy patrol vessels in 2020, Prime Minister Tony Abbott insists.

Medibank Private shares have surged more than 16 per cent after higher premiums and profit margins saw the insurer beat its full-year profit guidance.

The competition watchdog has approved Qantas's joint venture with China Eastern, but warned that allowing the carriers to coordinate their services could be to the public detriment on some routes.

The Australian share market has opened more than one per cent lower.

Crude prices have finished mixed, with US oil taking a breather from the market slide that is driven by persistent concerns about high production and a global oversupply of crude.

US shares have sunk more than 2.0 per cent with the Dow dropping to its lowest level for 2015 as worries spread about the strength of the world economy.

Gold has hit its highest in five weeks as the US dollar eased after minutes from the US Federal Reserve meeting suggested policymakers were in no hurry to raise interest rates.

The Australian dollar has gained further ground as the market digests the outcome of this week's US Federal Reserve minutes.

The share market has plunged to a fresh eight-month low due to frenzied selling sparked by weaker oil prices and volatility on China's markets.

Qantas shareholders will receive a $505 million cash windfall after the airline carried out a $3.3 billion one-year profit turnaround.

Passengers have been evacuated from a bus in Perth's CBD, after smoke started billowing from the rear of the vehicle.

Lower food and grocery prices have helped drive up Coles' underlying earnings for parent company Wesfarmers.

The Australian share market is lower following almost one per cent falls on Wall Street.

Gold prices extended gains to a one-month high after minutes from last month's US Federal Reserve meeting hinted at a decreased likelihood for interest rates to be raised in September.

Oil prices in New York have sagged to a six-and-a-half year low following data showing an increase in US petroleum stocks.

US stocks have fallen decisively, with petroleum-linked equities hit especially hard amid growing fears about the slowing Chinese economy.

The Australian dollar is flat after it bounced back following the release of the minutes of the US Federal Reserve's July policy meeting.

A Perth financial executive who sent fake invoices to a client, pocketing more than $45,000 for herself and dishonestly extracting more than $220,000 from the company, has avoided jail.

Medical staff at Fiona Stanley Hospital are quitting in frustration because of ongoing problems with private contractor Serco but there are signs of improvement, the Australian Medical Association says.

A rally in energy stocks led by Woodside Petroleum has given the Australian share market a substantial boost.

Property giant Stockland is betting on Brisbane being the place to be for the next few years, as Sydney and Melbourne's booming markets finally come off the boil and the Perth market continues to slow.

Iron ore miner Mount Gibson Iron has fallen into the red with a $911.4 million full-year loss after being hit by huge impairment charges.

Kerry Stokes' Seven West Media has suffered a $1.88 billion full-year loss after making major write-downs to the value of its TV assets.

Woodside Petroleum says its key Browse project must break even at current prices before getting the go ahead next year.

The Australian share market is more than one per cent stronger, shrugging off Tuesday's falls that were sparked by volatility in the Chinese market.

Wall Street stocks have finished lower following a mixed batch of earnings from retailers, including Wal-Mart Stores, which tumbled 3.4 per cent after slashing its profit forecast.

Oil prices have risen modestly as traders looked ahead to weekly US commercial inventory data that could provide insights into demand in the world's largest consumer of crude oil.

Gold has fallen, as the US dollar rebounds following upbeat US housing data that supports views of a looming Federal Reserve interest rate rise, while silver tumbles on the heels of falling copper prices.

The Australian dollar is struggling to gain any ground, weighed down by Chinese share market volatility and an imminent Federal Reserve interest rate rise.

Broadcasters Seven and Foxtel have retained AFL TV rights in a record $2.5 billion deal.

Steep declines by the big four banks, led by the Commonwealth Bank, have pushed the share market deep into the red.