AAP

New Myer chief executive Richard Umbers says the department store group has lost relevance with customers, suffering a 23 per cent slide in its first-half profit and downgraded its full-year guidance.

Wall Street stocks have surged after the Federal Reserve trimmed its US economic forecast and signalled a cautious approach to raising interest rates.

The Australian dollar has surged by two-and-a-half US cents after the US Federal Reserve surprised financial markets with weaker American growth forecasts, before falling back.

World oil prices have jumped as a cautious Federal Reserve statement offset data showing a big increase in US crude inventories.

Gold prices have surged more than two per cent, on track for the biggest rally since January after the Federal Reserve signalled a more cautious outlook for US economic growth, and the US dollar tumbled.

The Australian stock market has finished flat as wary investors wait for a key interest rate announcement by the US Federal Reserve.

Orica boss Ian Smith will leave the explosives maker two years before his contract ends amid allegations of an overly aggressive management style.

Business groups have broadly welcomed the federal government’s approach to improving the 457 visa scheme, but believe more changes need to be made to uphold the integrity and lawful use of temporary skilled migration in Australia.

The Australian share market has dipped with losses in the materials sector because of falling oil and commodities prices.

Iron ore miner Fortescue Metals Group has abandoned plans to refinance $US2.5 billion ($A3.28 billion) worth of debt after failing to attract suitable interest from investors.

The Australian dollar is weaker as the US Federal Reserve begins its two-day meeting on monetary policy.

US stocks have finished mostly lower ahead of a closely watched Federal Reserve policy announcement, while the Nasdaq rose on news of a potential new Apple television venture.

Oil prices have fallen as traders expected a key US stockpiles report to show another increase to a new record high.

Gold has fallen to a four-month low in volatile dealings, on investor jitters ahead of a Federal Reserve policy meeting that may offer further clues to support expectations of a mid-2015 rise in US interest rates.

Woodside Petroleum plans to resume production at its Pluto LNG operations after a nearby drifting drill rig was secured.

More evidence another interest rate cut is just around the corner has helped drive the Australian share market higher.

The corporate watchdog is threatening to come down hard on payday lenders as a report shows the industry remains rife with questionable lending practices.

The federal government wants to give business four additional ways to cut carbon emissions under its direct action policy.

The Reserve Bank of Australia says it may need to take a razor to interest rates again as Australia's economic outlook continues to deteriorate.

James Packer's Crown Resorts is seeking to raise around $400 million through an issue of subordinated notes to help fund developments.

The Australian share market is stronger in the wake of a solid lead from United States markets.

BHP Billiton is promoting its spin-off company South32 as a diversified business with high quality assets, sufficient cash flow to support healthy dividends and a strong balance sheet able to fund new investments.

The Australian dollar is marginally weaker as disappointing American factory data dents the greenback ahead of the US Federal Reserve's monetary policy meeting.

US stocks have ploughed higher as the US dollar retreated and the market looked ahead to a Federal Reserve policy decision in the next two days.

US oil prices have sunk to a six-year low after a report by the oil cartel OPEC pointed to a continued petroleum supply glut.

Gold has fallen, trading just above its lowest level in more than three months, due to stronger European shares and expectations that this week's Federal Reserve meeting could hint at the timing of any hike in US interest rates.

Gold has fallen, trading just above its lowest level in more than three months, due to stronger European shares and expectations that this week's Federal Reserve meeting could hint at the timing of any hike in US interest rates.

A sharp fall in oil prices and low iron ore prices have weighed on energy and mining stocks and sent the share market lower.

The share market has started the week on the backfoot as cautious investors sit on the sidelines in the lead up to this week's US Federal Reserve meeting.

The Australian dollar is weaker as a decline in American consumer confidence fails to stop the greenback from rising against the euro.

Mining giant Rio Tinto's tax bill has increased to $A6.2 billion despite weaker commodity prices.

Gold has pared early gains, on track to break a nine-day streak lower despite the US dollar's extended rally as the precious metal market appeared reluctant to extend losses ahead of the US Federal Reserve meeting next week.