AAP

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.

The Australian share market has opened lower, led by falls in banking stocks and the big miners.

Gold prices have held near three-month highs on Friday as weak US consumer sentiment data weighed on the US dollar and further diminished expectations for a near-term rise in US interest rates.

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

The Australian share market gained nearly 0.7 per cent but it was considered disappointing given the stronger leads provided by European and US markets.

Amcom Telecommunications has postponed its scheme of arrangement after Vocus Communications sold its stake in the company to counter rival TPG Telecom's efforts to derail a proposed merger.

The Australian stock market has opened higher thanks to strong gains in the US and Europe overnight.

The Australian dollar has dropped below US 81 cents after a weak overnight trading session as the US dollar stabilised.

Gold hit a three-month high on Thursday as the US dollar came under pressure following a new batch of mixed US data that pushed back expectations of when interest rates in the world's largest economy will rise.

Oil prices have retreated on concerns the market has risen too much given lofty supplies.

The S&P 500 has bolted to a fresh record high close, led by strong gains in Apple, Facebook and other technology stocks.

The share market fell today, with the Australian dollar surging and investors unwilling to continue Wednesday's post federal budget rally.

Frank Lowy's Westfield Corporation expects to decide on an offshore stock market listing for the international shopping mall giant by early 2016.

A no-fault catastrophic motor vehicle injury insurance scheme will be introduced in Western Australia on July 1.

The stock market has started the day weaker following a strong rally in the Australian dollar and the continued selloff in bonds globally.

Gold prices have jumped two per cent, rising well above $US1,200 an ounce to a five-week high as US the dollar hit a three-month low after disappointing US employment data.

The Australian dollar has surged past 81 US cents to an almost four month high on speculation the Federal Reserve could delay raising its interest rate.