AAP

The Australian dollar is lower after minutes from the US Federal Reserve's last meeting suggested intensifying debate over plans for a rate hike.

Global oil prices have rebounded from multi-month lows after a surprisingly big drop in US oil inventories.

Wall Street stocks have finished mostly higher as US Federal Reserve minutes showed rising debate over recent improvements in the jobs market.

The share market has closed higher as a positive investor response to a generous payout from Coles owner Wesfarmers outweighed a sharp fall in BHP Billiton shares.

Clive Palmer hung up the phone during a radio interview to avoid answering questions about controversial comments made by a senator from his party.

Australia needs to grasp opportunities to expand into the Chinese food and milk markets as quickly as possible, Reserve Bank of Australia governor Glenn Stevens said.

The share market has opened slightly lower due to a big drop by mining giant BHP Billiton.

Wesfarmers will give an extra $1.1 billion back to shareholders after lifting its full year profit 19 per cent.

Woodside Petroleum has increased half-year net profit by 27 per cent and says it is confident about gas demand despite a large number of new projects coming online.

The Australian dollar is weaker against the strengthening greenback, following promising US economic data.

The government has warned MP Clive Palmer against using his position in parliament to insult China amid a high profile legal battle with a Chinese company.

World oil prices have fallen, with the New York benchmark below $US95 a barrel for the first time since January ahead of the weekly US inventories report and the contract's expiration.

US stocks have finished with solid gains following encouraging economic data and a solid earnings report from Home Depot.

BHP Billiton has lifted its full-year profit by 23 per cent, while at the same time confirming it will spin-off its aluminium, coal, manganese and silver assets into a new company, which is set to be headquartered in Perth.

The Australian share market has closed higher as better than expected corporate earnings reports and expectations of a good result from global miner BHP Billiton boosted sentiment.

The Reserve Bank of Australia is likely to keep interest rates low for the foreseeable future amid growing uncertainty about the economy.

Palmer United Party senator Jacqui Lambie has accused the government of refusing to listen to crossbenchers during drawn-out budget negotiations.

A private equity firm is holding onto its stake in Dick Smith Electronics as the retailer expects profit and sales to grow in the year ahead.

Treasurer Joe Hockey says Clive Palmer's extraordinary televised tirade against China is hugely damaging for Australia.

QBE Group expects the asset sales and equity raising to improve the quality and flexibility of its balance sheet and help lift the company's performance.

Steel and mining group Arrium is targeting further earnings growth after lifting its full year profit 83 per cent.

The Australian stock market is higher, following strong leads from the US and Europe.

The Australian dollar is hovering above 93 US cents amid a lack of market-moving news or economic data.

US stocks have rebounded from last week's Ukraine-linked setback as fears of a clash with Russia ebb, with the Dow surging 1.1 per cent and Nasdaq reaching a 14-year high.

Oil prices have slipped on easing concerns about conflicts in Ukraine and Iraq and increased output by Libya.

The Australian share market has closed modestly higher as investors look ahead to earnings results from global miner BHP Billiton and a dividend from the Commonwealth Bank on Tuesday.

Tony Abbott has said his government will consider adjustments to its unpopular budget but won't "sell out" on the fundamentals.

West Perth explorer Azure Minerals has entered into a joint venture agreement with Kennecott Exploration, part of mining giant Rio Tinto, to explore for copper at its Promontorio project in Mexico.

Property developer Stockland has lifted its full-year profit five fold, due to improvements in the property market and the impact of a major writedown in its previous result.

National Australia Bank is facing another £245 million hit to its books in relation to its troubled United Kingdom business.

Australia's largest freight operator, Aurizon, has posted a 43 per cent fall in full year net profit on the back of previously announced impairments.

The Australian stock market is higher as recent earnings results boosts investor confidence.