AAP

Mining magnate Gina Rinehart has retained her place as Australia's wealthiest person in the BRW rich list, but her wealth will take a hit of up to $5 billion after her eldest daughter was awarded control of a family trust following a long-running legal battle.

Woolworths has signed up Telstra to help the retail giant offer mobile services direct to its customers.

The Australian share market is slightly higher following strong gains on Wall Street overnight.

Gold prices were steady after initially falling to a two-week low as the US dollar retreated from a one-month high.

The Australian dollar has continued its slide against the greenback, which moved higher overnight as markets focused on Greek debt negotiations.

The Nasdaq has bolted to a fresh record peak in a broad-based Wall Street rally that largely reversed sharp losses in the prior session.

World oil prices have finished lower in choppy trade as the strong dollar weighed and a potential rise in Iraq exports heightened global oversupply worries.

The Australian share market has closed lower in a broad sell-off after rising in the past four sessions.

Troubled iron ore miner Atlas Iron is facing a hit of up to $160 million to its bottom line after a drop in the value of some of its mining assets.

All 170 employees of troubled stockbroking firm BBY have been made redundant, as negotiations continue over the sale of the business to AIMS Financial Group.

Norway-focused iron ore miner Northern Iron is receiving support from its financiers to cover foreign exchange losses following a plunge in iron ore prices.

Fortescue Metals Group has confirmed reports that it set up a company in Singapore, but insists it has not used it to avoid paying tax.

John Worsfold has ruled himself out of the running to coach Carlton, with the AFL great saying he's "miles off" coaching again.

The Australian share market has opened lower, after the major Wall Street indexes dropped one per cent overnight.

Gold dropped almost two per cent on Tuesday as the US dollar extended gains following a raft of strong American data.

The Australian dollar is lower in the wake of better-than-expected US economic data and on going concerns over Greek debt.

Wall Street stocks have fallen sharply on a strengthening US dollar despite news of Charter Communication's $US78.7 billion ($A100.6 billion) deal to buy Time Warner Cable.

World oil prices have fallen as traders mostly took their cue from the rebounding US dollar and output remained strong, dealers say.

The share market has strung together its longest winning streak in almost four months as a rising iron ore price boosted the mining sector.

It will be cold consolation right now for Mick Malthouse, but history will not remember him for the ugly nature of his departure from Carlton.

The head of institutional banking at Westpac is leaving after almost 30 years with the company and will be replaced by one of Commonwealth Bank of Australia's most experienced executives.

Energy provider AGL has unveiled plans to sell off more than $1 billion worth of assets and cut costs by $200 million within two years, sending its share price to its highest level in eight years.

Fortescue Metals Group shares have surged more than 10 per cent on Chinese whispers of a major foreign buy-in and a lift in the iron ore price.

Ride sharing service Uber is facing increased regulatory battles, with the WA government prosecuting more drivers and the Queensland government moving to protect the taxi industry, which Uber describes as a protected monopoly market.

The Australian share market has opened higher, helped by gains in banking and mining stocks.

Gold prices rose sightly on Monday, even as the dollar gained traction against major currency rivals on signs the US Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015.

The Australian dollar is slightly lower after a quiet night of trade with Wall Street and most European markets closed for public holidays.

Investment bank Credit Suisse is forecasting a flat 12 months for Australian stocks as the resources sector and the big four banks weigh on the market.

The share market has enjoyed its strongest gain in a month as bargain hunters moved in and merger and acquisition activity stirred investor interest.

Evolution Mining has snared the Cowal gold mine in central NSW for $US550 million ($A702.74 million).

Shares in workplace provider Skilled Group have jumped 12 per cent after it announced it was in merger talks with rival Programmed Maintenance Services.

Gold, nickel, zinc and copper producer Independence Group has struck a $1.8 billion deal to acquire Sirius Resources.