AAP

Woodside Petroleum has lifted its annual production target after enjoying a double-digit rise in second quarter production levels and sales.

The $2.2 billion foreign takeover of David Jones will go ahead, after the Federal Court approved the sale of Australia's oldest department store to South Africa's Woolworths.

Four hundred global business leaders gathered in Sydney to reach consensus on a pathway for jobs growth will hear from Prime Minister Tony Abbott this morning.

The Australian dollar has recovered some of its losses following the release of Chinese economic data.

The Dow Jones Industrial Average has bolted to a new record as strong Intel earnings and a new IBM venture boosted the blue-chip index.

The big miners pushed the Australian share market higher after some record iron ore production reports, but the big banks all made losses.

Fortescue Metals Group said it planned to buy eight iron ore carrier ships from China for $550 million.

Shares in Sirius Resources have shot up by more than 13 per cent after its latest nickel discovery in Western Australia's south-east.

Caltex Australia has signed a $200 million deal to supply diesel fuel to Gina Rinehart's $10 billion Roy Hill iron ore mine in the Pilbara.

Iluka Resources has indicated that zircon sales could be affected by a property downturn in China.

Rio Tinto has lifted quarterly iron ore production and sales by 11 per cent and 23 per cent respectively, in line with market estimates.

Qantas has welcomed a decision to raise foreign investments caps on the airline, but said it still wants to see the restrictions removed completely.

The Australian market has opened higher off the back of strong performances in the resource sector.

The Australian dollar has moved little overnight, despite US Federal Reserve chair Janet Yellen saying interest rates could be raised sooner than expected.

US stocks have finished mostly lower with the Nasdaq dropping more than 0.5 per cent after the Federal Reserve warned that some technology stocks appear to be overvalued.

Global oil prices have dropped, with the US futures contract sinking below $US100 for the first time since May on receding worries about Iraq supply disruptions.

The first review of the financial system since 1997 may result in lower superannuation fund fees and slow the erosion of retirement nest eggs.

The Australian share market has closed flat as investors wait for a sufficient catalyst to make a stronger push beyond the 5,500-point mark.

Health workers at Perth's major hospitals have begun rolling stoppages over a pay dispute with the state government.

The Reserve Bank of Australia said it was difficult to judge whether low interest rates would be enough to offset the effect of budget cuts and mining investment slowdown.

Consumer confidence has bounced back to levels not seen since before the federal government's tough budget was released in May.

Supermarket giant Coles is taking on the big four banks by offering customers the ability to pick up loans and other personal finance products at the same time as their groceries.

The Australian share market has opened higher following positive overseas leads.

US stocks have scored solid gains, lifted by Citigroup's better-than-expected earnings and a rash of merger and acquisition activity.

The Australian dollar is trading within a narrow range in the absence of any major economic news or data.

Global oil prices have risen as turmoil in Libya clouded expectations of a return of the country's crude supplies to the market.

Gold prices slipped Friday as traders locked in profits after a sharp rally the day before, but the metal ended the week higher, for a sixth straight weekly gain.

The Australian share market has closed modestly higher in the wake of positive leads from markets in the US, Europe and Asia.

Australia's biggest blind and curtain maker, Kresta Holdings, has received a formal bid from Chinese sunshade manufacturer with a $34.5 million takeover offer.

Clive Palmer has said the repeal of the carbon tax lies in the hands of the Abbott government.

More than 176 years after its first store opened in Sydney, David Jones is passing into foreign hands after shareholders overwhelmingly backed a $2.2 billion takeover.

The Australian share market was higher in early trade following positive leads out of the United States and Europe.