AAP

Australian shares are weaker as a mixed lead out of Wall Street dents the big banks.

The Australian dollar has hit fresh three-and-a-half-year lows amid concerns over China's shadow banking sector and growing strength in the US economy.

American Express's solid earnings has helped pushed the Dow higher but the broader market has fallen after a mixed batch of corporate earnings and economic reports.

Western Australia is still topping the other states when it comes to economic performance.

The Australian stock market has closed lower, despite solid gains in the resources sector.

It is the biggest, heaviest - and with a legal tender value of $1 million dollars - the most valuable gold bullion coin in the world.

Perth Arena has been named as one of the world's top entertainment venues, ahead of iconic venues including New York's Madison Square Garden and London's O2 Arena.

Spending has risen across the Australian economy for 16 consecutive months and a lower Australian dollar, along with improving consumer sentiment, should provide a further boost this year.

Australian shares are slightly weaker as disappointing US earnings results drag down the big banks, but the big miners power ahead.

Gold futures have settled near unchanged, edging slightly higher after data showing US inflation remains below the Federal Reserve's target.

US stocks have finished mostly lower following disappointing results from a number of big companies, including Citigroup and Best Buy.

The Australian dollar sunk to new three-and-a-half-year lows overnight on the back of weaker-than-expected employment data.

Four incidents involving worker safety at a Fortescue Metals Group mine site are being investigated by the Department of Mines and Petroleum.

Iluka Resources shares have risen seven per cent after the company reported a sharp increase in quarterly sales revenue.

The Australian dollar has dropped below 88 US cents for the first time since July 2010 after official labour force data showed almost 32,000 full-time jobs were lost in December.

Bega Cheese will sell its 18.8 per stake in Warrnambool Cheese and Butter to Canadian dairy giant Saputo, putting Saputo in prime position to win the takeover battle for WCB.

Australian shares have rallied as a sharp drop in the local currency helped give the mining giants a boost.

The Australian share market has opened higher, led by resources stocks, after a positive lead from markets in the United States.

A falling power pole on the property of an 82-year-old woman sparked the Perth Hills firestorm that destroyed 55 dwellings but the government's energy safety regulator says she is unlikely to be penalised.

Woodside Petroleum has flagged up to $400 million in writedowns ahead of the release of its 2013 full year earnings result next month, with the energy giant reporting lower sales revenue for the year.

Rio Tinto has achieved record iron ore production and shipments in 2013.

US stocks have closed decisively higher following a batch of mostly solid economic and corporate earnings reports, and an upbeat Federal Reserve report.

The Australian dollar is lower after sliding overnight on the back of weaker-than-expected Chinese loan data.

Consumer and business lending is growing at the fastest pace since the global financial crisis as record low interest rates trigger a recovery in personal loans.

Australian shares have recovered some of Tuesday's losses due to a strong lead from the US.

Paladin Energy says it is confident of securing the sale of a stake in its flagship Namibian mine as a fall in uranium prices weighed on its December quarter activities report.

Former Exxon Mobil executive Tony Cudmore has been appointed president of corporate affairs at BHP Billiton.

The World Bank has raised its growth forecasts for the global economy, but warned of potential volatility in capital flows as the United States withdraws its stimulus.

Australian shares have bounced back from Tuesday's losses, thanks to a positive lead from Wall Street.

Oz Minerals shares have jumped 17 per cent after the gold and copper miner said it had realised its production guidance and expects a boost in production and lower costs in 2014.

Fortescue Metals Group has paid back $US1.6 billion ($A1.79 billion) of debt early, lowering its total pile to below $US10 billion.

Gold futures have pulled back as investors cash out following the precious metal's jump to one-month highs.