AAP

Australian banks are not "unquestionably strong" and need to hold more capital as a safety net against future external shocks, David Murray says.

Tony Abbott won't spell out the details of his revamped paid parental leave scheme despite opposition pressure to reveal the changes.

ANZ chief economist Warren Hogan said that employment growth is gradually improving and the unemployment rate is stabilising.

The share market is stronger, with banks rallying on the Financial System Inquiry's recommendation that banks hold more capital.

Qantas shares have soared after the airline flagged an improved first half with a return to profit, partly thanks to lower jet fuel costs.

A surprisingly strong US jobs report for November has powered US stocks to another record performance, with the S&P 500 registering its seventh straight weekly gain.

The Australian dollar has fallen to a four-and-a-half-year low after the release of very strong US employment growth figures.

Gold futures have fallen as a blockbuster US employment report prompts investors to bring forward their expectations for tighter US monetary policy and bolstered the US dollar.

Weakness in the resources sector has weighed on the share market as investor confidence continues to wane.

The share market is marginally firmer as gains in the retail sector offset falls in banking and the big miners.

Mount Gibson Iron has put its Koolan Island mine on care and maintenance after the recent flooding of the pit, resulting in most of the 360 workers being made redundant.

US stocks have followed European equity markets lower, falling slightly after the European Central Bank enacted no new stimulus measures.

The Australian dollar has stabilised after hitting fresh lows overnight, amid growing expectations that the central bank will need to cut rates again.

Oil prices have fallen in London and New York helped by reports that Saudi Arabia has trimmed its export prices and is doing nothing to tighten supplies.

Gold futures have ended lower after the European Central Bank stood pat on monetary policy and as investors brace for upcoming US employment data.

Atlas Iron will cut 80 jobs as the embattled iron ore miner slashes costs amid weak iron ore prices.

The share market has posted strong gains for a third straight day as investors returned to the dominant mining and banking sectors.

Drivers in Western Australia may pay more for vehicle registration or drivers' licences to help the state government pay for transport improvements, the premier has confirmed.

Shockingly weak economic growth figures have left leading economists rethinking their interest rate forecasts, with a growing number saying the Reserve Bank of Australia will be forced to cut in 2015.

Retail spending has risen for the fifth consecutive month, helped by solid gains in the household goods and department stores category.

Woolworths has won the exclusive rights to distribute the famous Hills brand of clotheslines and garden products.

Santos shares have hit a near eight-year low as the energy company shelved a debt raising and announced plans to slash spending due to weak oil prices.

The Australian share market has opened higher.

The Dow and S&P 500 have bolted to fresh record highs after a Federal Reserve report showed the US economy was growing amid widespread optimism about the outlook.

Oil prices in New York have gained following a drop in US crude inventories, while the international benchmark Brent has fallen on gloom after last week's OPEC decision to maintain output.

The Australian dollar is barely keeping its head above 84 US cents after disappointing economic growth figures triggered expectations of another interest rate cut.

Gold prices have risen as investors wait to see whether the European Central Bank will increase its economic-stimulus efforts at its monetary-policy meeting.

The Australian share market has closed higher, with gains in all sectors.

The bids are in but would-be buyers of Network Ten appear to be playing hard ball.

Australia's growth rate fell to 0.3 per cent in the September quarter, less than half the rate expected by market analysts, resulting in annual growth sliding to 2.7 per cent.

A second drug raid in as many days is taking place at a mine site in the Pilbara region.

Woolworths has bought itself a foothold in China's growing wine and drinks market, acquiring one of the country's largest alcoholic drinks distributors.