AAP

JB Hi-Fi is on track to lift its profit this financial year by about 10 per cent despite winding back its sales expectations.

The Australian share market is up on strong leads from the US after the Federal Reserve retained its policy of ultra-low interest rates.

The S&P 500 has bolted to a new record after the Federal Reserve kept its policy of ultra-low interest rates and did not accelerate the time-frame for raising them.

The Australian dollar is higher after the US Federal Reserve said economic growth would be slower than it previously expected.

Gold prices have held near steady after the Federal Reserve's monetary policy statement came in line with market expectations.

Fallen former Treasurer Troy Buswell could be forced to pay the $14,700 damage bill for his crashed ministerial car, the premier says.

The organic famer who unsuccessfully sued his neighbour for allegedly contaminating his crops with genetically modified canola has decided to appeal the Supreme Court judgment against him.

Gold miner Newcrest Mining has been fined $1.2 million in Australia's largest ever penalty for selectively providing market sensitive information.

Shares in Woodside Petroleum have fallen by 4.6 per cent after Royal Dutch Shell completed a sell-down of more than 78 million shares in the oil and gas producer.

The share market has fallen for a second straight day, due to a drop by energy stocks, including Woodside Petroleum, and weakness in the banking sector.

The share market has opened lower as the impact of Shell's reduced ownership of Woodside Petroleum dragged the energy sector down.

South African retailer Woolworths has moved closer to seizing control of David Jones after its shareholders approved a $2.2 billion takeover of the department store chain.

Gold prices have closed lower, as US inflation data and its possible effect on the Federal Reserve's decision making overshadowed investors' desire for safety amid crises in Iraq and Ukraine.

The Australian dollar has hit a one-week low after some negative comments on the local economy from the Reserve Bank of Australia.

Global oil prices have been mixed, a day ahead of US data expected to show a rise in crude inventories, while traders kept watch on the escalating Iraq crisis.

Wall Street stocks finished higher as investors weighed continued violence in Iraq with mixed US economic data and looked ahead to a Federal Reserve policy statement on Wednesday.

The head of BC Iron concedes the industry is apprehensive after iron ore prices fell to 2012 levels of $US89 per tonne.

Shares closed weaker as worries about Iraq and the sudden sale of nearly 10 per cent of Woodside shares weighed on the market.

The federal government is to model the impact of fuel tax rises after concerns were raised in the coalition party room.

The share market has opened lower after the iron ore price dropped to a two-year low and tensions in Iraq hurt overseas markets.

Air New Zealand has increased its cornerstone shareholding in Virgin Australia to the maximum allowed under Australia's foreign investment rules.

Gold prices have carved out a modest gain as worries about escalating violence in Iraq are tempered by stronger US equities.

The Australian dollar is slightly lower as concerns about political tensions in Iraq and eastern Europe weighs on the market's mood.

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US stocks have finished a choppy day of trade slightly higher as investors weighed the Iraq crisis and merger news ahead of a US Federal Reserve policy decision.

US oil has traded with little change at nine-month peaks, while Brent rose modestly as investors watched the unfolding sectarian conflict in Iraq for signs it could disrupt oil supplies.

The share market has recovered from early falls to close higher as investors brushed off worries about iron ore prices.

Treasurer Joe Hockey is confident Australia can avoid the 6.25 per cent jobless rate predicted by Labor.

The Australian share market has opened lower as weak iron ore prices continue to weigh on mining stocks.

Palladium and platinum have continued to retreat as supply worries ease because of the prospect of a wage deal that could end a 21-week strike in South Africa.

The Australian dollar is slightly lower, weighed down by profit taking and a lower iron ore price.

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