AAP

The share market has fallen more than one per cent on the prospect of higher interest rates in the United States.

The Abbott government has failed in its first bid to scrap the carbon tax, with the Senate refusing to pass a package of bills to repeal the Gillard-era climate change policy.

Myer shares have fallen by almost five per cent after a slide in the retailer's half year profit.

The share market has opened lower after the US Federal Reserve flagged the possibility of an interest rate hike in 2015.

Australia will resume exporting sheep and cattle to Egypt after the government struck a deal with Egyptian importers to ensure animal welfare standards.

Gold futures have extended their losses after the Federal Reserve announced another reduction in bond purchases and delivered a more positive view of the US economy than some expected.

US stocks have dropped after Federal Reserve Chair Janet Yellen offered a rough timetable for when the central bank could raise benchmark interest rates.

The Australian dollar has regained some ground after falling more than one US cent following the Federal Reserve's announcement it would keep winding back its bond-buying program, designed to stimulate the US economy.

The share market has edged higher as investors wait to see how quickly the United States will continue to wind back its economic stimulus measures.

Tony Abbott's embattled assistant treasurer Arthur Sinodinos has stood aside after being dragged into a corruption inquiry, with Finance Minister Mathias Cormann assuming his responsibilities.

David Jones boss Paul Zahra says Myer's $3 billion merger proposal doesn't make sense for his company in its current form.

Prime Minister Tony Abbott has lit his "bonfire of regulations", promising there will be many more repeal days to come.

While many investors are steering clear of Qantas in the wake of its record $252 million half year loss, the company's biggest shareholder has continued to lift its stake in the airline.

The sharemarket is flat in early trade as investors ignore positive offshore leads.

It's looking more likely that the Australian economy will grow at a sluggish pace in 2014.

US stocks have barrelled higher despite Russia's move to absorb Crimea following a controversial weekend vote by the region to secede from Ukraine.

US oil prices have surged on news of a key pipeline expansion that will help to draw down bulging crude supplies at the Cushing depot.

The Australian dollar has risen to a three-month high, helped by easing tensions between Russia and the West and a stable local interest rate outlook.

Former Treasurer Troy Buswell is unlikely to return to parliament until at least April 10 but it remains to be seen whether he intends to remain an MP.

Labor senators look set to ignore a plea from business groups to ditch the mining tax after opposition leader Bill Shorten reaffirmed his commitment to vote down the government's repeal legislation.

The Australian share market has closed higher as global markets rallied on the back of encouraging US factory production figures and relief that sanctions imposed on Russia after the Crimea vote were not too severe.

The Reserve Bank is more optimistic about the economy, meaning a likely end to its interest rate cuts.

Agricultural chemicals and seeds supplier Nufarm will shut its Welshpool manufacturing facility as part of a cost-cutting restructure of its Australian operations, which will likely result in 105 j

The head of Australia's largest rail company, Aurizon, says a free trade agreement (FTA) with China is critical to the country's economy.

Australian stocks have opened stronger following a rally on global markets overnight.

Retailer David Jones will undertake a thorough assessment of a merger proposal put by rival Myer.

The Australian dollar is higher as financial markets seem unconcerned by an escalation of tensions between Russia and the West.

Oil prices have fallen modestly as markets downplayed fears of disruptions to Western European energy supplies after Crimea voted in a disputed referendum to leave Ukraine and join Russia.

US stocks have bolted higher, brushing off geopolitical concerns after a controversial vote by Crimea to secede from Ukraine and join Russia.

The sharemarket is slightly lower as investors monitor the situation in Crimea following a controversial referendum.

Hochtief has flagged widespread job cuts to construction group Leighton Holdings' 56,000-strong global workforce as shareholders consider a $1.2 billion bid to increase its stake in the company.

The sharemarket is higher after a stabilisation in iron ore prices helped lift resources stocks.