AAP

The Australian dollar is trading in a narrow range, having recovered some of its losses from earlier in the week.

Oil prices in New York have rallied after a surprisingly big drop in US crude inventories, even as higher output from Libya pressured the main London oil contract.

US stocks have finished with solid gains as a strong housing report helped equities regain territory after losses earlier this week.

The Australian share market has closed lower as the major banking stocks fell after the central bank warned it may take action against risky lending.

About 25 per cent of first home buyers have saved for more than five years before buying a property, according to a survey by financial services provider Mortgage Choice.

Western Australian Treasurer Mike Nahan has defended his government's optimistic outlook for the state's most valuable export commodity in the past financial year, saying iron ore prices are "bloody hard" to predict.

Virgin Australia says it will redesign and improve its business and economy class cabins throughout its aircraft fleet, relabelling business class as the ‘super diamond’.

A review of Western Australia's Office of Road Safety shows it has proved ineffective in managing a huge fund fed by speed and red light camera fines.

The amount of money Australia reaps from resources and energy commodity exports is expected to fall this financial year, despite a pickup in volumes shipped overseas.

The Singapore bidder for Australand will wrap up its takeover of the property developer by snapping up the remaining batch of securities it does not already own - a deal that thrusts the combined entity's Western Australian operations into the top 10 land developers.

Troubled rare earths miner Lynas Corporation has placed its shares in a trading halt as it prepares to reveal details of a new funding deal.

The Australian share market has opened lower after weak leads from overseas markets and several other negative factors.

Oil prices were mixed following better-than-expected Chinese manufacturing data but a poor showing in a key measure of eurozone activity.

Gold futures have settled higher after the US stepped up its involvement in Syria, stoking worries about instability in the Middle East.

Geopolitical concerns have weighed on the Australian dollar following US-led strikes in Syria.

The share market's gains for 2014 have been wiped out, the value of the country's biggest export is at a five-year low and the Aussie dollar has slipped below 89 US cents - all thanks to China.

Wall Street stocks have slumped for the third straight session as data showed a weakening eurozone economy and US tax rules to fight inversions hit pharmaceutical stocks.

Better than expected economic data from China has fuelled the share market's largest one day rally in more than three months.

Agricultural chemicals and seeds supplier Nufarm is banking on spring rains to help boost its profits.

Labor will back the free trade agreement with South Korea but has again raised concerns about giving foreign investors the right to sue the Australian government.

The first university in Australia to reveal big fee increases if the federal government deregulates higher education says it doesn't expect a large drop off in students.

About 700 jobs are being axed at BHP Billiton's joint venture BMA coal mines in Queensland.

Nuclear energy is off the table as a power source for Australia.

The Australian stock market has continued to slide following a selloff on Wall Street and a further fall in iron ore prices.

Internet provider TPG Telecom's golden run is set to continue as the company looks to lift earnings by a quarter over the next year.

The Australian dollar has dropped to a near eight-month low overnight.

Global crude oil prices have fallen as traders worried about the strength of demand especially in China ahead of the release of key Chinese manufacturing data.

US stocks have finished decisively lower, retreating from last week's records in a decline attributed to profit taking and anxiety about Chinese economic growth.

Gold futures have turned higher, as investors jumped in after prices slid to an eight-month low earlier in the session.

The Australian share market has fallen by more than one per cent - its biggest one-day fall in six weeks.

Woolworths boss Grant O'Brien's annual pay has grown 10 per cent to $5.3 million.

Independent senator Nick Xenophon is worried Woolworths selling its 85 cent homebrand bread could spell a death blow to independent retailers.