AAP

Of all the ministers at the heart of the Hawke government, the acerbic Peter Walsh was the most singular.

Coles has been ordered to pay a $2.5 million penalty for falsely advertising "freshly baked" bread when it had been par-baked off-site - sometimes months earlier.

The Australian share market has opened slightly higher after solid gains on Wall Street overnight.

Gold retreated for a third straight session on Thursday on a stronger dollar after comments from US Federal Reserve officials kept alive expectations for an interest rate rise some time this year d

Andrew Forrest's iron ore miner Fortescue Metals says it has nothing to hide when it comes to paying tax.

The Australian dollar is slightly lower after the US dollar rallied on the back of strong US jobs data.

Oil prices have edged higher from the prior day's nose-dive in a volatile market with some analysts citing signs of a potential demand pick-up.

Big gains in petroleum stocks have lifted the US equity market as investors bet on more large energy mergers following Royal Dutch Shell's takeover of BG Group.

BC Iron has vowed to make deeper cost cuts as it scrambles to stay abreast of falling iron ore prices.

The share market has finished weaker for the first time since April Fool's Day as the big miners took a hit.

Ambulance ramping at Perth hospitals has not eased since the opening of the new $2 billion public facility at Murdoch, the state government concedes.

Global aluminium giant Alcoa has swung back to profit and struck a new energy supply deal in a positive sign for its Australian business.

The construction sector activity has risen for the first time in five months, helped by a surge in apartment block building.

The Australian stock market is flat with energy stocks weaker on heavy oil price falls.

Western Australia might end co-operation with Canberra if it fails to win changes to the way GST revenue is distributed to the states and territories.

The Australian dollar is slightly higher after the US central bank failed to give a clear indication on when it will raise its interest rate.

Gold has extended losses, falling below $US1,200 an ounce after US Federal Reserve minutes revealed an interest rate rise could take place as early as June, causing the US dollar to turn higher.

Another huge rise in US stockpiles and record oil output in Saudi Arabia has sent crude prices tumbling.

US stocks have risen as a big Royal Dutch Shell acquisition and a large potential pharma deal offset concerns about earnings season and US monetary policy.

Australians would pay more for power at peak times, like hot days, and fork out extra at petrol stations under a government blueprint to grow the energy sector.

Myer could have a new owner by Christmas, with billionaire Solomon Lew and private equity groups engaged in a bidding war for the troubled department store.

Labor has thrown its weight behind an industry compromise on the renewable energy target, but the federal government isn't budging on its lower aim.

The share market has been boosted by stronger iron ore and crude oil prices.

Lawyers suing Australia's banks over hundreds of millions of dollars in excessive fees have vowed to go to the High Court after a landmark win against ANZ Banking Group was overturned.

The federal government has approved the $1.15 billion sale of construction giant John Holland to Chinese interests.

Gold miner Evolution Mining says it will make a voluntary debt repayment of $35 million as a falling Australian dollar helps it generate cash.

The Australian share market has opened higher.

The Australian dollar is lower after briefly hitting a one-week high on the back of the Reserve Bank's decision to keep the cash rate unchanged.

Gold has edged lower as the US dollar recovers and global shares rise, but uncertainty about the timing of a US interest rate increase has $kept bullion not far from a seven-week high above $US1,200 an ounce.

US stocks have finished modestly lower as cautious sentiment about earnings season offset major deals involving FedEx and Informatica.

Crude oil has closed solidly higher, with the US futures contract hitting their highest point so far this year on expectations of a decline in US production.

The share market has given up most of the strong gains made in morning trade after the Reserve Bank kept the cash rate on hold.