AAP

US stocks finished sharply lower after a news-packed week that bolstered confidence in the economy even as speculation grew that the Federal Reserve will more quickly raise interest rates.

The Reserve Bank is expected to go 18 months without a change to its interest rate, but a string of interest rate hikes are expected in the new year.

The Australian share market has retreated on the eve of Australia's company earnings season.

Federal Treasurer Joe Hockey's call for everyone to take a "chill pill" over the budget has brought a heated response from opposition leader Bill Shorten.

The Health Services Union of Western Australia has called off all industrial action in the state's public hospitals after the government agreed to go to arbitration to resolve a pay dispute.

The consumer watchdog is concerned that Australians are bearing the brunt of the unnecessarily high costs mobile operators charge each other for taking calls and text messages.

Andrew Thorburn has shaken up NAB’s executive team in his first day on the job.

Manufacturing activity has recorded its first positive result in eight months, helped by increased activity in the food, beverages and tobacco sub sector.

Woodside Petroleum shareholders are set to vote on a $2.92 billion plan to buy back shares from Royal Dutch Shell.

The Australian share market has opened sharply lower.

The Australian dollar has fallen to its lowest level in almost two months as big falls in overseas equities markets and the prospect of interest rate hikes weigh on the local currency.

Oil prices in New York have tumbled to their lowest level since mid-March helped by unplanned refinery shutdowns in the US midwest.

US stocks have plummeted about two per cent in a broad sell-off attributed to a range of factors, including weak eurozone data, the Argentine debt default and disappointing US corporate earnings.

The Australian share market has continued to hold above the 5,600-point mark - its highest level since the GFC in 2008.

Three-dimensional printer 3D Group is seeking a presence on the Australian Securities Exchange, in a reverse takeover.

Energy Resources of Australia (ERA) has reported a first half net loss as the uranium price hovers around nine year lows amid weak demand.

If Joe Hockey is relieved that Australia's triple-A rating remains intact, he isn't about to show it.

The Maritime Union of Australia has called off a strike at Mermaid Marine's Dampier supply base, saying recent constructive talks will hopefully lead to settlement of a new enterprise bargaining agreement.

Outgoing National Australia Bank chief executive Cameron Clyne rejects the assertion that banks are bastards.

Gold miner Northern Star has easily beaten its quarterly production target following a string of acquisitions.

Last-ditch talks between Argentina and the US hedge funds it has branded "vultures" failed to reach agreement, effectively pushing the country into default.

Prime Minister Tony Abbott has dismissed Clive Palmer's call for a mini-budget as the government struggles to win crossbench support for its tough measures.

Australians can pay up to 50 per cent more to legally download movies than elsewhere in the world, a disparity Communications Minister Malcolm Turnbull warns is not helping the case against internet piracy.

Woodside Petroleum's plan to buy back $US2.7 billion worth of shares from Royal Dutch Shell appears set to fail.

The Australian dollar is lower after US economic growth bounced back in the June quarter after a decline earlier in the year.

Gold futures have continued their losses after the Federal Reserve's monetary policy statement turned out to be in line with investors' expectations.

Wall Street stocks have finished mixed after the US Federal Reserve kept interest rates near zero and government data showed surprisingly strong second-quarter US economic growth.

Oil prices have fallen, putting the US benchmark futures contract within a whisper of $100 a barrel despite a larger-than-expected decline in US crude supplies and heightened geopolitical tensions.

The Australian share market has reached a new six-year high, finishing above 5,600 for the first time since the GFC.

Gold miner Ramelius Resources has reduced its cash costs and produced more than 25,000 ounces of gold in the June quarter.

The latest mining tax take would barely cover the annual salary of a single senior public servant.

The Australian share market is higher with resource stocks the early gainers.