AAP

Kerry Stokes' Seven West Media has suffered a near $1 billion half-year loss after being forced to write down the value of its TV and newspaper businesses; underlying net profit, however, was only 8 per cent lower at $137.6 million.

The stock market is flat after giving back early gains made by the big banks.

Woodside Petroleum plans to cut more than 300 jobs this year as it slashes expenditure following a sharp fall in the oil price.

The Australian dollar has hit a one-week high, helped by optimism about the European economy and that a deal will be reached to keep Greece in the eurozone.

US stocks have shrugged off the latest stumble in Greek debt talks as the S&P 500 edged to a new closing high.

World oil prices have risen, reversing earlier losses, as traders kept an eye on the crisis in crude exporter Libya.

Gold prices have fallen, with thinner volumes seen as the market approaches the Lunar New Year.

Perth-based mining services company Ausdrill will take a pre-tax hit of up to $220 million due to falling commodity prices and slowing mining activity, while also disclosing the loss of a big contract in Africa.

A disappointing trading update from one of the big four banks and concerns about the Greek debt standoff have driven the share market lower.

ANZ Banking Group has started 2015 on a disappointing note, with its first-quarter results generating concerns about the outlook for Australia's third largest bank.

Mineral sands miner Iluka Resources has sunk from an $18.5 million profit to a $62.5 million full year loss but insists its financial health is sound.

Gina Rinehart's Hancock Prospecting has reached a settlement with Wright Prospecting over access to their joint venture documents.

The Australian sharemarket is lower, pulled back by the banks, especially market heavyweight Commonwealth Bank, which has gone ex-dividend.

Fortescue Metals Group has slashed its dividend after suffering an 81 per cent fall in first-half profit on the back of sharply lower iron ore prices.

Federal Social Services Minister Scott Morrison has ruled out including the family home in the pension assets test.

The Australian dollar is lower after Greece rejected the initial offer in its bailout negotiations with European officials.

Gold prices have risen as investors seek shelter from the uncertainty surrounding Greek debt talks and prepare for a slower week due to the Lunar New Year holiday in China.

QBE Insurance Group has entered into an agreement to sell its Australian and New Zealand agency businesses to insurance broker Steadfast Group in late March.

The Australian share market has overcome a poor start to finish slightly higher, led by the major banks and the resources sector.

Personal loan provider and pawn broker Cash Converters International issued $23 million in loans in December, a new record, as its online business continued to grow.

Bendigo and Adelaide Bank boss Mike Hirst is warning homeowners there is a limit to how far interest rates can fall.

An exploding tyre has killed one mine worker and seriously injured another man at a central Queensland coal mine.

The Australian share market has opened flat.

Australia's largest rail freight hauler Aurizon is continuing to focus on boosting shareholder returns, with its latest profit bolstered by major cost-cutting measures and future spending on growth projects dependent on a recovery in commodity prices.

The Australian dollar is lower, weighed down by expectations that the Reserve Bank will cut the cash rate for a second time in 2015 in the coming months.

When the Reserve Bank of Australia repeatedly throughout 2014 flagged a "period of stability" for interest rates, you could have been forgiven for thinking it was signalling a period of stability for interest rates.

Gold prices have risen as investors sought shelter from the uncertainty surrounding Greek debt talks and prepared for a slower week due to the Lunar New Year holiday in China.

The share market has rallied to a six-year high due to Rio Tinto's massive shareholder returns, rising oil prices and optimism from a ceasefire agreement in Ukraine.

New safety precautions have been put in place for a type of high-voltage switch involved in the fatal explosion last week at Morley's Galleria Shopping Centre.

Reserve Bank of Australia governor Glenn Stevens has warned that interest rate cuts may not have the same impact on growth as in the past.

Gold miner Newcrest has flagged the possible sale of the Telfer mine in Western Australia, one of its main assets.

The share market has opened higher as investors welcomed Rio Tinto's profit growth and massive return to investors.