AAP

Australia's largest gold miner, Newcrest Mining, has made a $2.2 billion full-year net loss on the back of previously flagged write-downs.

Gold prices fell to the lowest level in nearly two weeks on Friday as signs of health in the US economy outweighed news of a skirmish near the Ukraine-Russia border.

The Australian dollar remains above 93 US cents amid disappointing US economic data last week.

A flare-up in tensions in Ukraine threatened to derail the climb in US stock markets, but traders finally dismissed geopolitics to deliver another week of gains on Wall Street.

 The Australian dollar has hit another one week high as concerns about Russia ease and after another batch of weak US economic data.

The Australian share market has closed at a two-week high on the back of a strong week of company earnings and a potential demerger of assets by BHP Billiton.

Mining giant BHP Billiton appears set to establish a separate $20 billion company comprising its aluminium, bauxite and nickel assets.

Mining giant BHP Billiton is expected to report a bumper full year profit next week after achieving a 15th straight year of record iron ore production.

The Australian market is higher at the open after strong overseas sessions and a week of mostly strong company results.

ANZ made a cash profit of $5.2 billion for the nine months to June 30, an increase of 8 per cent.

The Australian dollar has bounced back above 93 US cents after soft US economic data weakened the greenback.

Oil prices have tumbled, with the US benchmark dropping 2.1 per cent, as investors weighed a mounting batch of weak economic data from around the world.

US stocks have advanced, extending the prior day's gains after jobless claims increased but overall the data continued to suggest an improving labor market.

Australia's second biggest telco, Optus, has suffered a slide in profit and revenues during the first quarter of its financial year.

The Australian share market has closed higher thanks to strong profit performances by local companies, including market heavyweight Telstra.

Federal opposition leader Bill Shorten has accused the Western Australian government of being asleep at the wheel for not immediately passing on savings from repeal of the carbon tax.

Profits at James Packer's gaming company Crown have soared, but weak consumer sentiment is hurting trade at its Perth and Melbourne casinos.

Having riled even coalition colleagues with his comments about the fuel tax, Treasurer Joe Hockey is now warning everyone else they may have to swallow tougher budget measures.

The Australian stock market has opened higher following positive leads from Wall Street and a raft of encouraging local earnings results, including telecommunications giant Telstra.

Telstra has increased its dividend after lifting its full-year profit by more than 14 per cent.

The Australian dollar has bounced back above 93 US cents after soft US retail sales figures weakened the greenback.

Oil prices have pushed higher as investors shrugged off a surprise increase in US commercial crude-oil stockpiles.

US stocks have finished solidly higher despite a lacklustre US retail sales report and some disappointing earnings reports.

Premier Colin Barnett is waging a "phoney war" by calling for a greater share of the GST, and should be battling with Canberra for more infrastructure funding, federal member for Perth Alannah MacT

The Swan-Canning river system is not being properly protected despite conservation efforts made by the Swan River Trust, a new report has revealed.

The stock market has closed lower after a mixed day of earnings reports, highlighted by a negative reaction to Commonwealth Bank's record profit.

The local share market has opened lower despite a record profit from Australia's biggest bank.

Commonwealth Bank has posted a record $8.68 billion full-year cash profit, with gains across each of its core divisions.

The Australian dollar is slightly higher thanks to encouraging business figures.

Wall Street stocks have finished lower following disappointing German economic data and ahead of Wednesday's report on US retail sales.

Oil prices have dropped with the main European benchmark contract sinking to a 13-month low after a prominent petroleum forecaster slashed the demand outlook for 2014 and 2015.

The Australian share market has rallied as investors bank on a record annual result from Australia's largest bank on Wednesday.