AAP

The commission of audit could recommend including the family home in the pension assets test, cuts to education and health and a maximum co-payment of $20 to see a bulk-billing doctor.

Gold prices have edged lower after the Federal Reserve cut bond purchases as expected and said economic growth is back on track after dropping off during the winter.

The Australian dollar has bounced on weaker-than-expected US gross domestic product (GDP) figures.

The Dow Jones Industrial Average has closed at a new record after the Federal Reserve said the US economy was picking up following a winter slowdown.

The share market has had a flat session as investors supported mining stocks, offsetting falls among high yielding financial stocks.

Shares in Woolworths have dropped 2.5 per per cent after its latest sales results left the market disappointed.

Hancock Prospecting is being compelled to hand back a stake in the Rhodes Ridge iron ore project after the Gina Rinehart-led company dragged its heels after a court ruling.

The share market is slightly down again after Tuesday's fall ended a seven-day winning streak.

Pharmacies supplier and health and beauty retailer Australian Pharmaceutical Industries has booked a loss of $115 million for the first six months of its fiscal year, after major asset writedowns.

The Australian dollar has drifted higher following a rally on global share markets and expectations that the greenback will trade within a narrow range.

Global oil prices have risen, supported by tensions over the Russia-Ukraine crisis and expectations of a drop in US commercial inventories at the key Cushing terminal.

US stocks have finished higher after mixed economic data and corporate earnings as a two-day US Federal Reserve monetary policy meeting got under way.

Former foreign affairs and defence minister Stephen Smith has been appointed a professor of international law at The University of Western Australia.

The final results of the re-run Western Australian Senate election have been announced, confirming Labor's assumption it has missed out on a second seat.

The share market's seven day winning streak has ended due to significant falls in the bank and mining sectors.

Fallen West Australian treasurer Troy Buswell has offered an apology after being fined $3,100 and disqualified from driving for one year over 11 traffic offences in one night.

Roc Oil and Horizon Oil have struck an $800 million deal to merge their assets, with the combined company looking to produce up to 20,000 barrels of oil per day.

The Australian share market is again higher, continuing the gains of the last seven consecutive trading days.

Coles' supermarkets and liquor stores sold $6.73 billion worth of goods during the March quarter, an increase of 3.9 per cent compared to a year earlier.

People earning more than $80,000 will be in the firing line if the federal government pushes ahead with a national debt levy.

The Australian dollar is weaker after stronger US data gave the greenback a boost.

US stocks have finished mostly higher as investors absorb new sanctions on Russia and look ahead to a busy week of economic news and earnings.

Oil prices have fallen in London but edged higher in New York with fresh Western sanctions on Moscow milder than feared and Libya taking more steps to increase exports.

Business conditions among small and medium-sized firms in Western Australia have declined despite the national average jumping to a four-year high.

The Australian share market has closed higher for the seventh straight session due to support for high yielding local stocks.

The $1 billion return of cleaning and catering services firm Spotless Group to the share market is set to be the largest listing in nearly four years.

Two Asian companies seeking control of food producer Goodman Fielder say they are undeterred by the company's rejection of their $1.27 billion takeover offer.

The share market has made a steady start to the week as renewed concern over tensions in Ukraine weighs on global markets.

The big four banks have defended their lending standards after a report linked them to companies accused of illegal land grabs in developing countries.

The Australian dollar is weaker amid escalating tension in Ukraine.

US stocks have slumped after a dim earnings outlook from Amazon sparked a big retreat in tech stocks and as world leaders signalled growing worry over Ukraine.

Western Australia remains the nation's best performing economy but the Northern Territory is a close second.