AAP

Gold prices are higher, briefly climbing to a new session high as the US dollar pared its gains after Federal Reserve minutes showed policy makers believed it would be premature to raise interest rates in June.

The Australian dollar is lower after hitting a three week low ahead of the release of details from the US central bank's latest policy meeting.

US stocks have finished mostly lower after a short-lived jump that came when the Federal Reserve's policy meeting minutes cast doubt on an interest rate hike in June.

Oil prices have risen after data showed a drop in US petroleum supplies and production.

The Australian share market has closed slightly lower as a sharp fall in iron ore prices weighed upon the big miners.

Any residents who are forced out of their homes to make way for the Perth Freight Link will be "generously treated", the premier has promised.

Iluka Resources hasn't given up on its United States operations despite incurring an $82 million writedown last year.

Uber is considering legal action to challenge a tax office ruling that requires its drivers to pay GST in line with taxi operators.

Treasurer Mike Nahan has flagged the possibility of demolishing and replacing the outdated Royal Perth Hospital with a new tertiary health facility, after the state government was criticised for not setting aside $180 million for a major upgrade.

Fortescue Metals Group hopes that its calls for an inquiry into the iron ore market will generate enough public pressure to force rivals to rein in their expansion plans.

Coles will expand the number of its own branded products to drive growth and to rival Woolworths' plans to match Aldi prices.

Kerry Stokes' Seven Group Holdings has increased its stakes in energy companies Drillsearch Energy and Beach Energy.

The Australian share market is weaker, following a sluggish lead from the US.

The Australian dollar has fallen after the greenback was supported in overnight trade by the release of stronger than expected US housing data.

Gold's five-day rally ran out of steam on Tuesday as the dollar extended gains on strong US data, while global shares rose on the European Central Bank's suggestion it may speed up bond buying.

Wall Street stocks have finished mixed in a choppy session following disappointing Walmart earnings and a pullback in many petroleum stocks.

Oil prices have slumped as resurgent worries about the global supply glut combined with a sharp dollar rally.

The share market has fallen for a second straight day despite a brief lift on further indications the Reserve Bank is open to more interest rate cuts.

Mining giant Rio Tinto has signed an agreement to develop and finance its stalled Oyu Tolgoi copper and gold underground mine in Mongolia.

Dozens of homes in Perth's southern suburbs may not be bulldozed if a tunnel can be used in the $1.6 billion Freight Link project.

The war of words over a proposed parliamentary inquiry into the iron ore industry escalated today, with BHP Billiton saying it would send a "terrible signal" to Australia's trading partners, while the main supporter of an inquiry claimed he had been misrepresented.

The Australian stock market has opened lower on a mixed performance by the major banks and the big miners.

Gold prices have reached a three-month high, rising for a fifth session as a run of soft US data supported expectations that the Federal Reserve will hold off raising interest rates for the time being.

The Australian dollar has fallen slightly but has managed to stay above 80 US cents because of weakness in the US dollar.

The Dow and S&P 500 have closed at fresh highs, following acquisitions in the pharmaceutical and apparel sectors and a rise in Dow member Apple.

Oil prices have fallen amid signs that Gulf producers are continuing to battle for market share with high output.

The Australian share market has closed more than 1 per cent lower, dragged back by the big banks and global miner BHP Billiton.

Fremantle Dockers midfielder Nat Fyfe remains the frontrunner to win this year's Brownlow Medal after escaping suspension over his "brain fade" tripping charge.

A possible Senate inquiry into iron ore prices can't be a witchhunt, Prime Minister Tony Abbott has warned.

Oil prices could soon spike higher because of a lack of new discoveries, BHP Billiton's petroleum boss says.

A stockbroking firm in control of more than $2 billion in funds has been been placed in voluntary administration.

The federal government has cleared what could have been a stumbling block for a bipartisan agreement on a pared-back renewable energy target.