AAP

The Australian stock market has closed lower as investors worry that the US Federal Reserve may accelerate its tapering program.

The Australian stock market has opened flat following a soft lead from Wall Street and ahead of the release of key economic figures in the US and China.

New claims for US unemployment insurance benefits fell last week, the government has said in a report suggesting improvement in the labour market.

US stocks have closed mostly lower amid concerns about Friday's monthly US labor report and the kick off of corporate earnings season.

The Australian dollar is a little bit higher, trading in a tight range ahead of the release of US employment figures early on Saturday morning, Australian time.

The parties battling for Warrnambool Cheese and Butter are still a long way off from gaining control of the target, with the offer of one suitor set to expire on Friday evening, and the other suitor trapped in the regulatory process.

Australian shares have finished flat as cautious investors worry about a slowdown in China following the release of lower-than-expected inflation figures.

Worries about China continue to weigh on the nation's biggest iron ore miners, despite the release of record shipping figures.

A strong rise in house building approvals is an encouraging sign of economic growth ahead, as low interest rates continue to stimulate the housing market.

Government backbencher Sharman Stone's fight with senior colleagues resisting calls to support food processor SPC Ardmona highlights the division in Liberal ranks, Opposition Leader Bill Shorten says.

Retail sales figures have come in stronger than expected, giving the Reserve Bank of Australia confidence that the current record-low cash rate is supporting economic recovery.

Qantas Airways credit rating has been downgraded to junk status by Moody's - the second ratings agency to do so in a month.

The Australian market looks set to open lower after falls on Wall Street overnight.

US stocks have closed mostly lower after US Federal Reserve meeting minutes showed most Fed policy makers thought the US economy could withstand reduced monetary stimulus.

The Australian dollar is lower after the release of some good US employment data and the minutes of the US Federal Reserve's December policy meeting.

Australians are expected to have spent close to $15 billion shopping online during 2013 and local retailers received most of the benefit.

The Australian share market has finished flat as weakness among mining stocks dampened earlier gains.

Shares in Buru Energy have closed lower as the Kimberley-focused oil and gas player prepares to ship its first crude oil order from Wyndham Port.

The long-hoped-for recovery in Australia's residential construction sector may finally be underway, with low interest rates driving the fastest expansion in new home building since 2005.

A federal Liberal MP has advanced the case for changing statutory ownership limits on Qantas, saying the national carrier is operating with a regulatory straitjacket.

The Australian share market has fallen into the red despite a positive start, led downwards by mining stocks.

The price of oil rose to near $94 a barrel Tuesday as unusually cold weather in the U.S. was expected to fuel demand in the world's largest market for energy.

US stocks have registered their first gains of the new year, with the Nasdaq adding nearly one per cent, helped by a solid November trade report.

The Australian dollar has held its ground as optimism returned to markets helped by the release of some positive US and German economic data.

The Australian stock market has finished in the red, weighed down by poorly performing resources stocks.

Takeover target Warrnambool Cheese and Butter Factory says suitor Murray Goulburn is unlikely to overcome hurdles obstructing its bid.

Woodside Petroleum's partners in the Leviathan gas project in Israel have signed a deal to sell $1.2 billion worth of gas to the Palestine Power Generation Company for 20 years.

Australia's international trade deficit has narrowed for the fourth consecutive month as mining and resources exports increase.

The Australian stock market has opened stronger as local investor confidence offset negative leads from global markets.

The majority of Australian businesses are more upbeat about growth in 2014 than they were last year, with business expectations rising to a one-year high.

US stocks have finished lower amid mixed US economic data to kick off the first full week of trade of 2014.

The Australian dollar has bounced back after suffering a brief fall on the back of some disappointing Chinese economic data.