AAP

Employment Minister Tony Burke denies the country is seeing a wage price spiral as policy makers seek to tackle inflation.

The Australian share market has closed modestly higher despite losses by iron ore miners and oil producers on recession fears.

The reassessment of a proposed new bridge over the Helena River near Midland will represent a rare win for local traditional owners regarding heritage concerns.

An inquiry into sexual misconduct within Western Australia's mining sector is set to deliver its report, days after another alleged on-site assault.

The Australian share market has resumed its downward march after snapping a seven-session losing streak, closing down 0.2 per cent.

The Australian Energy Market Operator has outlined a staged approach to restoring the national energy market following its intervention last week.

The ASX has enjoyed its first winning day in the past eight sessions after bargain hunters swooped in to snap up bargains and some positive sentiment returned.

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

Hefty losses in energy and mining stocks have weighed heavily on the benchmark ASX indices.

A candidate backed by billionaire Clive Palmer will join the Senate crossbench following the declaration of the vote count in Victoria and Western Australia.

Energy regulators have put forward a "capacity mechanism" that would pay generators to guarantee supply to an evolving national grid, similar to the scheme already in effect in Western Australia.

The ASX has dropped to a 19-month low after its sixth straight losing session and worst weekly performance since March 2020.

The ASX200 index fell to its lowest level since November 2020 at midday, dropping 2.1 per cent in morning trade as global markets continue their meltdown.

Prime Minister Anthony Albanese met with state and territory leaders in Canberra face-to-face on Friday for the first time since being elected.

The Australian share market has been unable to sustain its morning gains, closing lower for its fifth straight session.

Industry says Australian businesses are faced with workforce shortages supply chain disruptions and impacts of rising inflation.

The local bourse has closed lower for the sixth session in the past seven as traders digest the possibility of a supersized US rate hike overnight.

The Fair Work Commission has recommended a 5.2 per cent pay rise for Australia's low-paid workers, equating to an extra $40 a week.

The local share market has suffered its worst losses since 1 May 2020, and is now down 7.3 per cent in June.

As the federal government weighs up its options to deal with the energy crisis, a former prime minister says decisive action is needed in the gas market.

The local share market has closed at its lowest level in 14 months following three sharp declines in the past four days.

Small businesses are feeling the pinch from rising energy costs, with confidence dropping during the past six months, particularly among young business owners.

It's been another brutal day for Australia's banks and non-bank mortgage lenders, with the financial sector on track for its worst week since March 2020.

New wind and solar farms will be used to power Rio Tinto's aluminium assets in the Gladstone region, as the mining giant looks to halve emissions by 2030.

Energy sector players have broadly backed plans by federal, state and territory governments to work together to stabilise Australia's power sources.

The Australian share market has finished 0.36 per cent higher amid gains for oil producers and coalminers, while the big banks posted losses.

National Disability Insurance Scheme Minister Bill Shorten says the agency's chief will step down ahead of a new head being confirmed in the coming months.

The local bourse has suffered its worst day in nearly three weeks after the Reserve Bank delivered a supersized 50 basis point rate hike.

The Reserve Bank of Australia has lifted the cash rate by 50 basis points, the largest single increase in more than 20 years.

Confidence has dropped to its lowest level since mid-August 2020 as cost of living pressures mount, not helped by an expected further rise in interest rates.

The Australian share market has alternated between losses and gains but finished up 0.78 per cent for the week.

The government will consider using whatever mechanisms are available to counter constrained gas supply on the east coast as price hikes begin to bite.