AAP

Commonwealth Bank of Australia's shares have hit a record of $90 as expectations build for a Reserve Bank of Australia rate cut next week.

Pilbara iron ore producer BC Iron is making deeper cost cuts as it weathers a falling iron ore price.

Strong leads from Wall Street and increasing prospects of an interest rate cut in Australia have driven the local share market higher.

US stocks have pushed higher, rallying after two down days on generally solid corporate earnings and a gain in oil prices.

Oil prices have closed higher after a volatile session that saw the New York price drop below $US44 a barrel for the first time since March 2009.

Gold prices saw their sharpest drop in more than a year Thursday, as investors interpreted the Federal Reserve's comments from a day before to be on the hawkish side, denting the case for owning the precious metal.

The Australian dollar has hit a new five and a half year low, weighed down by growing interest rate cut expectations and a surging US dollar.

The share market has achieved a sixth straight day of gains as expectations of an interest rate cut grow.

The Abbott government is failing to fix the budget because it hasn't been honest with the public about why it needs to be fixed, a leading economist says.

Explosives and mining services provider Orica does not know when there could be a significant turnaround in the mining sector.

Plunging commodity prices have knocked Clive Palmer off Australia's top 50 rich list, and slashed the estimated wealth of other mining moguls.

Australia's vast superannuation pool could be at greater risk if the financial watchdog's access to stored telecommunications data is curtailed, ASIC says.

The Australian share market is lower due to struggling commodity prices and weak leads from US and European equity markets.

Wall Street stocks have finished a volatile session sharply lower as worries about the strong US dollar and falling oil prices outweighed some positive earnings reports.

The Australian dollar has backed away from the highs it reached on Wednesday, weighed down by falling iron ore and oil prices.

Oil has tumbled to near a six-year low as US crude stocks soared to a record high, sparking fresh fears over the growing global supply glut.

Gold futures have pulled lower after the Federal Reserve signalled it would keep interest rates near zero at least until midyear.

Oz Minerals has made the decision to relocate its headquarters from Melbourne to Adelaide, as the South Australian government today announced it would invest $10 million in a new research partnership with the resources company and local universities.

A late afternoon rally among the big four banks has lifted the Australian share market out of the red.

Tumbling commodity prices have stymied an $872 million takeover bid for engineering group Bradken, stripping more than 30 per cent from its shares.

Sharp falls in oil prices have dragged inflation to near three-year lows, but borrowers shouldn't expect a rate cut from the Reserve Bank of Australia just yet, economists say.

The Australian share market has opened lower following a weak lead from United States markets and concerns about global growth.

Wall Street stocks have finished sharply lower following a disappointing stream of corporate earnings and mixed US economic data.

Oil prices have rebounded from six-year lows as the US dollar weakened after disappointing US economic data.

The Australian dollar is slightly lower as a negative market mood puts a brake on any gains the currency is trying to make.

Gold prices have risen as some investors sought to protect their wealth from losses in stocks and a weaker US dollar.

The share market has gained ground despite another fall in iron ore prices denting the resources sector.

The state government is planning to cap taxi payment fees at 5 per cent, which could cost the sector’s dominant player, Cabcharge, about $4 million a year.

Calls are mounting for a rate cut by the Reserve Bank of Australia after new figures showed business conditions were wasting away, with little to no momentum building in the economy.

A sabotaged gas valve at a fracking site in the Kimberley region has been removed for further inspection.

Shares in iron ore producer Fortescue Metals Group have fallen sharply after the price for iron ore dropped to a new five and a half year low.

Gold miner Ramelius Resources has lifted its full-year production guidance after achieving record production in the December quarter.