AAP

The Australian dollar is firmer as profit takers sell the greenback.

Global oil prices have rallied modestly from five-year lows after a US agency trimmed its forecast for 2015 US output because of drilling-budget cutbacks.

Gold futures have surged to their highest level in more than six weeks as losses in US stocks and the greenback stir up investor appetite for haven assets.

Prime Minister Tony Abbott has announced the government will ditch plans for the $7 Medicare co-payment and instead pursue an optional co-payment, to be introduced at the same time the Medicare rebate to GPs is reduced by $5.

Shares in energy company Santos have shed more than a third of their value in less than three weeks after further falls in oil prices and a credit rating downgrade.

Treasurer Joe Hockey insists the mood inside federal cabinet is good despite a difficult year for the government.

National Australia Bank has become the second of the big four to reverse its interest rate forecasts, predicting the Reserve Bank will need to slash rates twice in 2015.

Further changes will be made to the way official employment statistics are compiled following an independent review of the process, but not this month.

Australian tax officials have been embedded in the offices of 10 multinationals as the federal government tries to capture as much as $3 billion in dodged revenue each year.

An academic who's doing a thesis on the politics of shark attacks has compared Western Australia's policy to the Hollywood blockbuster Jaws.

Further rate cuts from the Reserve Bank could create more concern for consumers, ANZ's chief economist says.

Business confidence and conditions have taken a tumble, as the lower Australian dollar fails to stoke an upturn.

The Australian share market is lower, pulled back by the big miners and oil stocks.

Petroleum equities and tech names, including Apple, have led US stocks lower following weak Chinese and Japanese data.

Global oil prices have tumbled more than four per cent to fresh five-year lows on mounting oversupply worries as global economic growth slows.

The Australian dollar is straining to keep its head above 83 US cents following disappointing Chinese numbers and surprisingly strong US jobs data.

Gold futures have edged up amid signs of slowing global growth and concerns that central banks around the world could respond with stimulus measures that would drive currency values lower.

The Australian share market has closed higher, with the big banks well up on the back of the Financial System Inquiry's call for them to hold more capital.

Commercial TV networks say the decision to allow SBS to run more advertising will affect local content and damage their businesses.

It's not often that industry begs government for more regulation, but private education providers are doing just that.

Beverages supplier Coca-Cola Amatil (CCA) will axe more jobs as part of its $100 million cost-cutting campaign.

Prime Minister Tony Abbott has finally announced a new head of Treasury.

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.