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Oil benchmarks fell on Wednesday after an unexpected build in US crude and gasoline inventories despite strong demand, and as traders weighed a possible increase in OPEC crude output to cover any shortfalls in supply from Iran and Venezuela.

Gold prices rose on Wednesday as the US dollar backed off its highs against a basket of currencies while investors interpreted minutes from the US Federal Reserve's latest policy meeting as dovish.

Westfield ‘done deal' for Unibail

High company taxes are one of the biggest impediments to Australia's economic success, according to the latest global competitiveness index by Swiss business school IMD, although improving infrastructure and government efficiency have helped boost the country's overall rating.

Interest is growing in Kwinana as a possible battery manufacturing hub, with Wesfarmers mooted to be considering a move into the sector and representatives from US electric car manufacturer Tesla in Perth to meet with Premier Mark McGowan today.

The long-delayed footbridge linking East Perth to Optus Stadium will not be ready by the end of May despite previous assurances by the McGowan government.

The Australian dollar is slightly lower after Wall Street fell, weighed down by comments from US President Donald Trump about the US-China trade talks.

Brent crude prices settled slightly higher on Tuesday after a volatile session in which potential supply concerns surrounding Venezuela and Iran jockeyed with comments from President Donald Trump, who said he was not pleased with US-China trade talks.

Gold prices have steadied just above their lowest point for the year as the US dollar fell from a five-month high, although risk appetite in the broader financial markets kept the metal's gains in check.

Santos rejects $14.5bn Harbour bid

Federal Labor is demanding the Turnbull government hand over details of the deal it struck with Pauline Hanson to get her support to cut business taxes, a pact One Nation is now reneging on.

The Australian dollar is higher, after US stocks, oil and copper prices gained ground overnight.

US crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.

Gold price have hit a new low for the year to date after US Treasury Secretary.

CBA ‘had no ulterior motive for loan default'

Gold prices rebounded on Friday, as the US dollar eased after Italian political tension sparked a sell-off in the country's bond markets and investors sought a safe haven in bullion.

The Australian dollar is flat after Wall Street stocks finished Friday's session flat or in negative territory.

Property cooling spreading

Australian businesses can be confident that strong personal relationships with their partners in China can help overcome any short-term problems between the governments of the two countries, according to two local business executives with close ties to the Asian powerhouse.

The GST is a potential sleeper issue as WA heads to three by-elections.

The state government has announced a partnership with Qantas that will provide discounted airfares for flights to Broome in an effort to boost regional tourism.

The Australian dollar is slightly lower after US stock ground as investors worry over as possible escalation of US-China trade tensions.

Oil prices climbed above $US80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and climbing US output to end unchanged.

Gold was flat after sliding to a fresh 2018 low on Thursday as another rise in US bond yields held the US dollar index near its 2018 peak.

Foreign property proposal

Entrepreneur lunch: Navitas managing director Rod Jones recently found a simple way to end in-house confusion about his phased handover to successor David Buckingham.

Entrepreneur lunch: Coogee Chemicals executive director Gordon Martin struck a chord at this year's Entrepreneur of the Year lunch when he said all businesses needed to re-engineer their cost structure every few years.

Entrepreneur lunch: Peter Prendiville, Rod Jones, Gordon Martin and John Rothwell have outlined the challenges they see in diversifying WA's economy.

Despite adding 8,300 jobs in April, Western Australia has retained the highest unemployment rate in the country, according to latest data from the Australian Bureau of Statistics.

The federal government has endorsed changes to the livestock export industry designed to improve animal welfare but the WA government says it may still try to ban live sheep exports to the Middle East during the northern hemisphere summer.

The Australian dollar has bounced back overnight and is higher against the US dollar which has preserved its recent gains but made little headway.

Wall Street has edged higher as retailer Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.