AAP

Crude oil prices have slid as US commercial stockpiles mounted again and a report said OPEC might not cut output to deal with an oversupplied market.

The Dow and S&P 500 have bolted to fresh records on continued momentum from Wednesday's Federal Reserve decision and enthusiasm ahead of Alibaba's expected initial public offering Friday.

Gold fell Thursday to an eight-month low, while silver sank to a four-year low, as investors digested the Federal Reserve's plans for tighter monetary policy.

The Australian share market has closed marginally higher as a slightly positive performance from most of the major banks outweighed weakness in the resources sector.

A man has been sent to Royal Perth Hospital with serious burns after an explosion at a portable buildings workshop.

The forced merger of Perth's local councils shouldn't lead to higher rates, Western Australian Premier Colin Barnett claims.

Capital city land prices surged 6 per cent in the last 12 months, another factor in rapidly rising house prices.

Shares in iron ore and steel maker Arrium have dived more than 38 per cent in response to its $754 million capital raising.

Almost half of Australia's mid-sized companies could be at risk of failing within five years without innovation, a survey of company finance chiefs shows.

The Australian stock market is higher after the US Federal Reserve pledge to keep interest rates at close to zero until 2015 boosted investor sentiment.

The Australian dollar has dropped more than one US cent overnight to a fresh six-month low after the US Federal Reserve signalled more interest rate hikes next year.

Gold prices extended their losses on Wednesday as the dollar strengthened and traders mulled the Federal Reserve's policy statement.

Oil prices have dipped following mixed US crude-inventory data and reports suggesting an OPEC production cut is unlikely when the organisation meets in November.

The Dow has closed at a fresh record high after the US Federal Reserve stuck to a plan to begin raising near-zero interest rates only in 2015.

The Australian share market has closed lower for the sixth consecutive session as gains among the major miners failed to offset falls by the big four banks.

BHP Billiton won't confirm reports jobs have been axed at its Nelson Point operations in Port Hedland, but says some staff in the Pilbara town will be made redundant in coming months.

Australia's competition watchdog is taking Woolworths Holdings to court for selling faulty matches, deep fryers and other products.

Australia's longest-serving treasurer warns the country's luck is beginning to run out as wages fall and consumer pessimism grows.

The Western Australian government is poised to announce more cost-cutting measures as lower iron ore prices threaten to punch a big hole in the state's bottom line.

Australia's economy is expected to pick up pace in early 2015 as consumers become more confident and start spending again.

Foreign ownership of Qantas now stands at almost 45 per cent.

After five straight sessions finishing lower, the Australian share market has opened higher on reports of a new Chinese stimulus plan and a rise in commodity prices.

The Australian dollar has rebounded overnight, surging towards 91 US cents as the greenback takes a hit.

Gold prices rose Tuesday, getting a boost from a shift in expectations for this week's Federal Reserve policy statement that also weakened the dollar.

World oil prices have rebounded sharply after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015.

Wall Street stocks have posted solid gains following reports of a new Chinese stimulus plan as investors awaited Wednesday's US Federal Reserve monetary policy announcement.

The City of Canning has been sacked by the Western Australian local government minister and replaced by a panel of three commissioners until a new council is elected in October 2015.

Taxpayers have been burnt by the Western Australian government after it paid $30 million upfront for dozens of luxury apartments it cannot sell, the opposition says.

The share market has closed lower as investors pulled out of bank stocks in anticipation of a rise in interest interest rates in the US.

A former National Australia Bank employee and a public servant have pleaded guilty to a $7 million insider trading scheme.

Treasurer Joe Hockey says the G20 is close to putting together a set of measures that will help lift global growth by a further two per cent.

The Reserve Bank of Australia is confident business investment will increase in the coming months, but is still not offering any hints on the timing of its next interest rate move.