AAP

The Australian share market has pushed above the 5,500 mark at the open on the back of a positive lead from markets in the United States last week.

Shadow treasurer Chris Bowen has rejected suggestions Labor is taking a "wrecking approach" to the government's budget.

The Australian dollar has drifted lower against a stronger greenback amid an improving US economic outlook.

US stocks have finished a bumpy week on a high note as technology and small-cap equities shook off the blues from recent weeks and led the overall market higher.

Cleaning and catering services firm Spotless Group has made a strong return to trading on the Australian Securities Exchange.

The Australian share market has closed slightly higher as investors bide their time ahead of developments in the US and Europe.

The Drumstick and Choc Wedge ice-creams could be about to go the way of iconic Australian brands Victoria Bitter and Victa Lawnmowers and be sold overseas.

Australian beer drinkers are shunning traditional brands like VB, Carlton Draught and Crown Lager due to high-end competition and less demand for tap beer.

The Australian share market has opened higher after markets in the United States lifted overnight and iron ore prices stabilised.

The Australian dollar is lower after a rally sparked by strong Chinese data fizzled out during the offshore session.

World oil prices slipped on Thursday as dealers took profits from the previous day's bumper gains that were driven by signs of strong US crude demand.

Wall Street stocks have finished higher following mixed US economic data as a closely watched index of small-cap equities outperformed the broader market.

James Hardie has more than doubled its annual profit and is upbeat about future sales as conditions improve in the US and Australian housing markets.

Western Australian public servants have postponed a planned strike over a new wage deal because talks with the government have become more fruitful since the stopwork threat was made.

The Australian share market has closed higher on signs Chinese manufacturing activity has picked up significantly.

Abbott government plans to tackle climate change, sell assets and slash the public service will come under scrutiny when Senate committees examine the federal budget next week.

Perth-based mineral testing company SGS Australia has been fined $5,500 for failing to properly identify the presence and location of asbestos at one of its worksites.

The launch of a Google-backed driver hire company in Perth has caught Transport Minister Dean Nalder off guard.

The share market has made a strong start to trade, with all sectors higher after a positive session on Wall Street.

Woodside Petroleum chief executive Peter Coleman says he needs time to consider options for excess cash after the company's exit from the $US2.5 billion Leviathan project.

The Australian dollar is slightly higher after bouncing from a three week low.

Gold extended losses after minutes from the Federal Reserve's April meeting reinforced the central bank's outlook for a gradually improving economy.

Wall Street stocks have finished with sharp gains following mixed retail sector earnings and Federal Reserve policy meeting minutes that showed little change in policy.

Consumer confidence has slumped to its lowest level in over two years, with Australians worried about the impact the government's tough budget cuts will have on their family finances.

The Australian share market has climbed back from early losses to close slightly higher.

The share market has opened lower as further falls in the price of Australia's largest export, iron ore, hit the mining sector.

Energy giant Woodside Petroleum has abandoned a $US2.7 billion gas deal in Israel, one of the company's two major long-term growth prospects.

Fortescue bolsters iron ore reserves

The Australian dollar fell to a three week low, coming under pressure from weaker iron ore prices and concerns about the Chinese economy.

Oil prices have closed mixed as traders tracked the supply outlook amid unrest in Libya, the Ukraine-Russia crisis and the eve of US inventory data.

Wall Street stocks have slumped on a batch of mostly-disappointing retail earnings and after a US Federal Reserve official endorsed a speedier rise in benchmark interest rates than some expect.

Telstra customers will share access to their home wi-fi networks in a plan to create one of the world's largest networks of public hotspots.