AAP

The Abbott government's paid parental leave scheme is expensive, unfair and will do nothing to boost numbers of working women, a new report argues.

The Australian dollar has regained some of last week's losses amid light trading volumes as the US celebrated the Independence Day holiday.

Asian markets have rallied after the United States said its economy created more than a quarter of a million jobs in June, sending Wall Street to new records and boosting the US dollar against the yen.

China's Baosteel and Aurizon are in control of miner Aquila Resources after increasing their stake to 81 per cent.

The share market has achieved a third straight day of gains, with miners leading the way.

Australian stocks are higher for the third consecutive day, following the lead of US markets which rallied to fresh highs on strong jobs growth figures.

Gold prices have ended lower, after better-than-expected jobs data showed the US recovery may be gaining traction, prompting traders to take profits on the precious metal's recent gains.

The Australian dollar is lower following strong US jobs figures and comments from the Reserve Bank governor about the currency being too high.

Wall Street rode improving economic data to fresh records this week, spawning comparisons to July 4 fireworks on the eve of the US Independence Day holiday.

Oil has extended losses on prospects that Libya will begin exporting more crude and as concerns eased about the Iraqi crisis.

Commonwealth Bank boss Ian Narev has apologised to customers hurt by misconduct in its financial planning business, but critics have hit out at the bank's latest review into the maligned division.

Australian shares have risen as home building approvals posted their strongest monthly gain in eight months following strong offshore leads.

Premier Colin Barnett says he would have preferred to see state members of parliament receive a lower pay rise than they were granted last week.

The Reserve Bank of Australia still has "ammunition" on interest rates but governor Glenn Stevens says previous cuts are still working their way through the economy.

The Australian stock market was higher in early trade following on from Wednesday's strong gains and Wall Street hitting record highs overnight.

Commonwealth Bank boss Ian Narev will front the media for the first time since a damning report called for a royal commission to investigate its financial advisers.

Oil prices tumbled on Wednesday on the prospect of higher Libyan output joining ample global supplies and as traders continued to book profits from a sharp rally a week ago.

The Dow and S&P 500 edged to new records Wednesday ahead the official US jobs data for June, with the outlook buoyed by a strong ADP private sector report.

The Australian dollar is lower, weighed down by disappointing trade figures and a stronger greenback.

Gold prices have shuffled between gains and losses, as traders weigh violence in Ukraine and the Middle East against the possibility of a stronger-than-expected US jobs report.

Signs of stronger manufacturing activity in the world's second largest economy have outweighed a blowout in Australia's trade deficit and fuelled gains on the share market.

Property giant Stockland’s hopes to snare rival Australand have been dealt a massive blow, with the takeover target agreeing to a $2.6 billion offer from Singapore.

Meadow Lea margarine and Mighty Soft bread are the latest Australian household brands set to fall into foreign hands.

Australia's international trade balance has spent a second consecutive month in the red following a fall in mining exports.

Wesfarmers is facing a $774 million hit to its bottom line from its struggling Target chain and the restructure of its liquor business.

A rebound in the local banking sector has helped the Australian share market to open higher, after Wall Street stocks surged to new records.

The Australian dollar has shot up above 95 US cents after the Reserve Bank of Australia gave a more neutral statement than the market expected following its interest rate decision.

World oil prices have slipped on profit taking and marginally easing concerns about the Iraq crisis, while in the US a storm sparked fears about lower gasoline demand.

Wall Street stocks have barrelled higher to new records, opening the third quarter with big gains following strong US auto sales and Chinese manufacturing data.

Big falls by the banks have caused the share market to lose ground on the first day of the new financial year.

The Reserve Bank of Australia has kept the cash rate unchanged, saying the economy is improving but it will be some time before unemployment drops consistently.

The future of 2,500 jobs at discount retailers Crazy Clarks and Sam's Warehouse is uncertain after their owner fell into receivership.