AAP

The Australian share market lifted slightly on Wednesday as investors looked beyond the political impasse over the United States budget and the possibility of a debt default by the US government.

Western Australian Premier Colin Barnett is "very optimistic" a new trade agreement will see hundreds of thousands of live cattle exported to China.

Retail giant Woolworths has appealed to the Western Australian government to deregulate the state's shopping hours, while urging them to repeal laws which regulate what times cigarettes, pantyhose and needles can be sold in petrol stations.

Gina Rinehart's oldest son John Hancock has decided to step down as a nominee to become trustee of the multi-billion dollar family trust, a court has heard.

Newcrest Mining has announced the retirement of its chairman Don Mercer and flagged the departure of chief executive Greg Robinson in the second half of next year.

Former trade minister Richard Marles believes a free trade agreement with China could be finalised within months but warns the Abbott government could face internal opposition from the Nationals.

Environment Minister Greg Hunt has made the case for the coalition's planned overhaul of the environmental approvals process, claiming its "one-stop-shop" approach will keep Australia green but make it more competitive.

Australia's unemployment rate is due to rise in 2014 as the International Monetary Fund downgrades growth prospects for the nation.

The Australian dollar remains in sideways trade amid continuing uncertainty over the US political stalemate.

US stocks have sunk and short-term bond yields jumped as the stalemate in Washington over passing a budget and raising the debt ceiling takes a deeper toll on financial markets.

Oil prices have edged higher as a US budget impasse continued and some production outages lingered in key Middle Eastern oil producers.

The Australian share market has closed lower as the political impasse in the United States over the budget and debt ceiling continues to spook investors.

Toro Energy shares are higher after the uranium mine developer upgraded the quality of resources at its Wiluna project in Western Australia.

New figures show that 12 per cent of homes sold in the three months ending June were sold for less than their purchase price, incurring a total loss of more than $500 million.

Job advertisements have risen for the first time in six months, a sign that the labour market is stabilising.

After welcoming Chinese investors to the Kimberley region, the Western Australian government is pitching the state's agribusiness opportunities to Vietnam and Thailand.

A trial involving Gina Rinehart, her children and a multi-billion dollar family trust fund has been delayed for several hours as a new trustee is appointed.

Five "super growth" industries could boost the national economy by $250 billion over the next 20 years.

Mining magnate Andrew Forrest will head up a federal government-initiated review into indigenous employment and training programs.

The Australian dollar is trading sideways amid growing concerns about the looming US debt ceiling deadline.

Gold prices have climbed as jitters over the continued US budget stalemate fanned interest in the haven asset.

US stocks have finished lower as a partial US government shutdown entered its second week with no sign of resolution.

Commodity price falls have driven local stocks lower despite the release of positive jobs numbers.

Greens WA senator Scott Ludlam is expected to find out mid-week whether his bid for a recount of senate votes is successful.

Jobs growth in September is not expected to have been strong enough to bring the unemployment rate down from its four-year high.

Bill Shorten wants to develop a national rehabilitation strategy to ensure injured workers and people on disability pensions can get back to work.

Woodside Petroleum has started up its $5 billion North Rankin redevelopment project and exported its first gas to the Karratha gas plant.

The share market has opened flat, with little to prompt investors as several Australian states enjoy the Labour Day public holiday.

Interim Labor leader Chris Bowen says the series of revelations about Prime Minister Tony Abbott and four other MPs claiming around $20,000 in travel expenses shows a pattern of poor judgement.

The lawyer leading a class action against construction giant Leighton has accused it of falsely playing down its involvement in corruption last year, leading to massive share price falls.

Energy chiefs anticipate a major industry shakeup in the decade ahead as more shale gas and renewable power becomes available.

US Treasury Secretary Jack Lew has warned that Congress is "playing with fire" as Republicans raise the threat of a US default if President Barack Obama refuses to negotiate on spending.