AAP

Gold has ended lower, but futures pared earlier losses as weaker US economic data helped offset pressure from investors looking to lock in recent gains.

The Australian dollar is slightly lower, staying in a tight range as the continuing US budget crisis overshadows mixed economic data from the US.

US stocks have suffered hefty losses as the partial government shutdown dragged through a third day and worries climbed that the budget battle could escalate into a debt default.

Former Telstra boss Ziggy Switkowski has been appointed executive chairman of the new NBN Co board, Communications Minister Malcolm Turnbull says.

Strength in resources and banking stocks has pushed the Australian share market higher despite the continuation of a US Congressional stand-off over budget negotiations.

The resources boom is not over and the sector is entering a new export growth phase that will deliver Australia "serious money", Industry Minister Ian Macfarlane says.

The extensive and expensive measures taken to keep Perth bus passengers safe from potential injury in another dangerous fire have been revealed for the first time.

Seven West Media has promoted the head of its magazines division to chief operating officer as it looks to increase its revenue from new technologies and content.

Uranium miner Paladin Energy says three workers have been injured at its Langer Heinrich Mine in Namibia.

An extortion charge has been dropped against a discredited whistleblower at the centre of corruption claims levelled at a Western Australian hospital.

Gold miner Ramelius Resources has made its first $5 million payment to acquire Goldfields' Vivien gold project in Western Australia and has also achieved record production at its Mt Magnet project.

Shares in construction giant Leighton have dropped by nearly 10 per cent after reports corruption and cover-ups were rife in the company and known to its top executives.

The share market has opened higher despite a partial US government shutdown pushing other markets around the world into the red.

Activity in the services sector fell at a much slower rate in September, thanks to improvements in sales, new orders and supplier deliveries.

US stocks have fallen as the reality of the government shutdown depressed markets and raised concerns about the possibility of a US debt default due to political gridlock.

The Australian dollar is higher with the greenback falling against most currencies as it looks like the American government shutdown will continue for a few more days.

Oil prices rallied Wednesday, despite a larger-than-expected jump in US crude stockpiles, on news that TransCanada's southern leg of its Keystone pipeline is near completion.

Australian shares firmed as investors expect the partial US government shutdown to be resolved soon.

The WA government's chemical analysis and forensic science unit says it is rethinking its structure and business model after a $3 million reversal of fortunes in 2012/13.

The average house price in Perth fell by about $14,000 in the September quarter, and rental prices have also eased, the Real Estate Institute of Western Australia says.

Greens Senator Scott Ludlam says he'll appeal the Australian Electoral Commission's decision not to conduct a recount of votes for Western Australia's Senate seats.

The housing sector's recovery seems to be softening, with a fall in building approvals in August, but economists are confident construction activity will strengthen later in the year.

Senior federal government ministers say any proposal by Indonesia to buy Australian farmland for cattle grazing will be under joint venture arrangements.

Rail travel in Australia is growing in popularity with new figures showing an escalation in the number of passenger journeys.

The Australian share market has opened nearly half a per cent higher.

The Australian dollar has slipped from a one-week high reached after the central bank appeared to play down the need for more interest rate cuts.

US stocks have jumped amid hopes the partial government shutdown will not seriously harm the economy.The Dow Jones Industrial Average rose 62.03 points (0.41 per cent) to 15,191.70.

Weaker than expected economic figures from China and renewed concerns about the Ukraine have caused a significant fall on the local sharemarket.

It costs $317 per day - or more than $115,000 a year - to keep each prisoner locked up in West Australian jails, new figures have revealed.

The Reserve Bank of Australia has left the cash rate unchanged at a record low of 2.5 per cent, saying the current setting of monetary policy remained appropriate.

Prime Minister Tony Abbott has vowed to rebuild confidence between Australia and Indonesian businesses, lamenting that a "mature" economic relationship has not yet been reached.

Billionaire mining magnate Gina Rinehart wishes to relinquish her role as the trustee of her family's multibillion-dollar trust, a Sydney court has heard.