AAP

Two of Perth's top radio stations are under new ownership after Fairfax Media sold 96FM for $78 million and merged its other national radio assets, including 6PR, with Macquarie Radio Network.

Coles will pay $11.25 million in fines and costs but could end up paying more than double that refunding its suppliers, after a court agreed to the supermarket giant's settlement with the competition watchdog.

The Australian stockmarket has opened higher, boosted by gains in commodity prices.

US stocks went from famine to feast this week, starting out fearful of crashing oil prices and finishing it with a "Santa Claus rally".

The Australian dollar is lower amid expectations that the US Federal Reserve will increase its interest rate sooner that most people are expecting.

Gold prices rose Friday, buoyed by comments from the Federal Reserve earlier in the week that suggested the central bank is in no hurry to raise US interest rates from rock-bottom levels.

Incitec Pivot has warned shareholders of a challenging future, as it deals with a weak cycle for the mining sector and a looming jump in manufacturing costs.

Quickflix is going cap in hand to its customers for money after shareholders snubbed the online streaming service's latest capital raising.

A "Santa Claus rally" has driven the share market to its strongest session in almost 18 months.

Assistant Treasurer Arthur Sinodinos has resigned from the ministry today, and the decision is expected to trigger a ministerial reshuffle.

Telstra has secured a contract to provide planning and design for the National Broadband Network worth up to $390 million.

Energy giant Santos has secured $1 billion in new debt ahead of a potential balance sheet shake up in the new year.

The Australian stockmarket has opened sharply higher, following a rally on Wall Street.

The Australian dollar has followed metal prices and Wall Street higher, bouncing from the record lows it reached after the US Federal Reserve meeting.

US stocks have surged for the second day in a row following Wednesday's Federal Reserve meeting as investors brushed aside concerns over another drop in oil prices.

Oil prices have skidded sharply lower in volatile trade, pushing the US benchmark futures contract to a new five-year low amid concerns about ample global supplies.

Gold prices edged higher Thursday after Switzerland's central bank said it would introduce negative interest rates next year and as traders continued to adjust their outlook on US monetary policy.

Fairfax Media's radio merger talks with the owner of Sydney station 2GB are back on.

ANZ chairman David Gonski insists the bank has a heart, but not the power to cancel debts owed by investors in failed agribusiness Timbercorp.

People who use ride sharing taxi services are being warned to be cautious when booking private cars.

National Australia Bank chairman Michael Chaney launched a defence of coal-fired power as the lender, and rival ANZ, rejected calls to stop funding mining projects.

Energy and mining stocks have led the share market nearly one per cent higher.

The falling Australian dollar may take expected interest rate cuts off the table next year, National Australia Bank chairman Michael Chaney says.

Building materials firms Boral and CSR have been given the all-clear to merge their east coast clay brick operations.

Plans to upgrade a major Perth highway using proceeds from a trucking toll have drawn widespread criticism, with the Chamber of Commerce and Industry, the Labor Party and the Greens all finding fault with the project and its funding.

Grains marketer and maltster GrainCorp is facing a challenging year, with smaller crops, dry weather and tough competition from rivals.

Gina Rinehart's Roy Hill mining company has told caterers to tighten food security after a worker at its West Australian site bit into a poisoned piece of fruit.

Agribusiness Elders says initiatives undertaken so far as part of a major plan to improve the performance of the company are making progress.

Flight Centre shares have dived by more than nine per cent after the travel agency issued a surprise profit warning.

Quickflix's effort to raise almost $6 million to allow it to compete with the likes of Netflix in 2015 has fallen dramatically short of target.

The Australian sharemarket is one per cent higher after an upbeat assessment of the American economy by the US central bank and a bounce in oil prices.

The Australian dollar has fallen to a new four-and-a-half-year low after the US central bank issued a more upbeat assessment of the US economy.