AAP

US stocks have finished little changed following mixed economic data as investors keep watch on continued unrest in major oil-producer Iraq.

Australian Sandalwood producer TFS Corporation predicts it will generate exports of $1 billion over the next decade as its oil fetches $5,000 per kilogram overseas.

The tough federal budget has exacerbated already difficult market conditions for grocery wholesaler Metcash.

The share market has posted solid gains as investors were buoyed by China's best manufacturing activity data in six months.

The Department of Mines and Petroleum has given the green light to Buru Energy's planned fracking program at a gas project in the Kimberley.

The Australian share market is higher following a strong lead from Wall Street.

Welfare cuts due to come into effect next week are in limbo with the federal government conceding it has run out of time to pass the measures through parliament.

The Australian dollar has drifted lower as investors await the release of key Chinese economic data.

Gold prices have risen to within striking distance of a 10-week high as some investors breath easier after the Federal Reserve stuck to a dovish monetary policy while others buy the precious metal amid worries about Iraq.

US stocks jumped to fresh records this week as the Federal Reserve's promise of continued low interest rates offset turmoil in Iraq that lifted oil prices.

Australian shares slumped on Friday, giving up most of the previous day's gains.

Economy-wide spending has fallen, weighed down by weaker consumer confidence brought about by the tough federal budget.

Westfield will leave its Australian shopping centres behind in search of growth opportunities overseas after winning a tough shareholder battle over its $70 billion restructure.

The share market has opened lower as the major miners and big four banks all post losses.

The Australian dollar has backed away from its two-month high as traders sell the currency and take profits.

Gold prices have posted the biggest daily gain in nine months, driven by investors who were caught flat-footed by the Federal Reserve's outlook for continued low interest rates.

$10b ore project takes shape

Another 230 Ford workers will be clocking out for the last time as part of the car maker's planned exit from manufacturing in Australia, a union says.

The S&P 500 has edged to a new record as investors weighed solid economic data with ongoing violence in Iraq that pushed oil prices to a new nine-month high.

Oil prices have soared on escalating violence in Iraq, as government troops recaptured a major refinery and the US said it was sending in military advisers to train Iraqi forces.

Australian shares have rallied after the US central bank decided to retain ultra-low interest rates.

Stockland boss Mark Steinert has indicated the company may not increase its $2.5 billion bid for rival property developer Australand to match a higher bid from Singapore.

The competition watchdog is taking legal action against Virgin Australia and Jetstar, accusing them of slapping hidden fees on passengers seeking discount airfares.

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.