AAP

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.

The Australian dollar continues to rally on the back of weaker-than-expected US jobs figures.

Australia's two biggest supermarket chains Woolworths and Coles continue to punch above their weight, cementing their place among the world's top 20 retailers.

Anti-fraccing campaigners are gearing up for a showdown with unconventional gas explorers in WA's Kimberley region ahead of a series of public hearings next month.

The Australian share market has closed lower following the release of disappointing US jobs figures.

Leighton Holdings subsidiary Thiess has won a $135 million contract from Western Desert Resources to lead the mining operations at the Roper Bar iron ore mine in the Northern Territory.

Telstra has sold a majority stake in its shrinking directories business Sensis to a US-based private equity investor, as it builds up a multi-billion dollar stockpile of cash to fund investment and, possibly, higher returns for shareholders.

A rise in home loan approvals during November means there won't be another interest rate cut, an economist says.