AAP

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.

US stocks have closed solidly higher, buoyed by a better-than-expected report on December retail sales covering the holiday shopping season.

The Australian dollar has lost more than three-quarters of a US cent overnight as investors position themselves ahead of the release of local jobs data.

Australia's largest gold miner Newcrest has extended its debt facility by more than $200 million as it faces a class action from shareholders over its massive financial writedown.

The Australian share market closed more than one per cent lower after a top US central bank official raised the prospect of ongoing reductions in the US's economic stimulus program.

The Abbott government has begun closing immigration detention centres across the country, claiming the move will save the federal budget close to $90 million a year.

Fire authorities say a devastating bushfire in the Perth hills that has destroyed more than 50 properties was probably sparked by a power pole on private land.

Australians have become increasingly worried about job security as the economy shows signs of slowing down.

Regis Resources says gold recovery at its Garden Well operation is likely to be lower than expected until plant upgrades are completed later this year, with quarterly production at the project coming in below guidance.

Mining giant Rio Tinto has paid more than $1.31 billion for 510 million Turquoise Hill shares under a rights issue, clearing the slate as it develops the Oyu Tolgoi mine in Mongolia.

Australian stocks have opened in the red following a sell-off on Wall Street overnight.

Australian bond futures prices continue to rally on the back of weaker-than-expected US jobs data.

US stocks have tumbled as Wall Street awaits a raft of financial reports as earnings season gets into full swing this week.