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Shares close 45pts higher

The Australian share market has staged an end-of-week recovery as investors rekindle their belief that US President Donald Trump will be able to address the issue of tax cuts regardless of the outcome of his efforts to repeal Obamacare.

ANZ, CBA follow rivals with mortgage hikes

ANZ Banking Group and Commonwealth Bank of Australia have raised mortgage rates, with all four of Australia's big banks now having moved out-of-cycle since the US Federal Reserve hiked its cash rate last week.

Downer down on $1.01bn raising plans

Shares in infrastructure and mining services company Downer have fallen more than 20 per cent after institutional investors showed limited enthusiasm for a capital raising to help fund its $1.26 billion takeover of cleaning and catering firm Spotless Group.

GST share below expectations

New state Treasurer Ben Wyatt has labelled the latest recommended GST distribution "abysmal" and a threat to the state's finances after the Commonwealth Grants Commission recommended Western Australia receive 34.4 per cent of its per capita share. 

Fortescue to pay off another $US1bn debt

Iron ore miner Fortescue Metals Group is taking further advantage of stronger iron ore prices by paying off another large chunk of its debt.

Shares open 33pts higher

Australian shares are sharply higher, bucking the lead from Wall Street which closed mostly flat due to concerns over a delay to President Trump's first major reform bill's passage through Congress

Wall St down as US healthcare vote delayed

Wall Street has declined after US lawmakers delayed a vote on a healthcare bill seen as President Donald Trump's first policy test.

$A down against $US

The Australian dollar is lower against its US counterpart, and the yen and the euro, as the local currency underperforms while the greenback remains steady.

Oil slips as inventories curb recovery

Oil prices have dipped, struggling to recover from four-month lows because of investor concerns that OPEC-led supply cuts were not yet reducing record US crude inventories.

Gold edges down on firmer US dolla

Gold prices slip as the US dollar firms slightly, while palladium extends gains to hit a two-year high on economic data and demand from the automobile sector.

Asic reviewing Harvey Norman's accounts

Two days after Harvey Norman rejected a claim that the Australian Securities and Investments Commission was reviewing its accounts, the retail giant has said the corporate watchdog is undertaking a "routine review".

Shares close 23pts higher

The share market has posted a small gain as investors recuperated some of the losses from a Wall Street-led sell-off on Wednesday.

Rising domestic fares a boost for airlines

Domestic airfares hit a five-year high in the first three months of the year, as airlines cut back on flights to Western Australia.

Shares open 11pts higher

Energy and mining stocks have helped lift the Australian share market in a modest recovery from its sharpest one-day fall in more than four months.

$A higher against $US

The Australian dollar is higher against its US counterpart which has lost further ground as investors rethink the growth expectations under US president Donald Trump's administration

Oil drops to lowest since Nov

Oil prices have again slipped, falling to their lowest since late November, with Brent testing the $US50 per barrel support, after data showed record high US crude inventories rising faster than expected, raising doubts over the viability of OPEC-led output cuts.

Gold hits 3-wk peak amid Trump worries

Gold has climbed to a three-week high as the US dollar has fallen to seven-week lows and bond yields sink on uncertainty over the economic policies of US President Donald Trump.

Ex-AWU official in Perth court over $400k fraud

A former Australian Workers Union official has appeared in a Perth court over the alleged misappropriation of more than $400,000.

Shares close 90pts lower

Almost $30 billion has been wiped from the value of the Australian share market as concerns about delays to US President Donald Trump's healthcare and tax reforms rattled Wall Street and markets around the world.

City of Perth $500k audit 'waste': McGowan

Premier Mark McGowan has urged the controversy-plagued City of Perth to not waste money on a $500,000 audit of its entire operation as his government contemplates sacking the council.

Mining downturn adds to mortgage stress

Western Australia is driving a nationwide rise in Australians who are falling behind on home loan repayments, according to a report by ratings agency Standard & Poor's.

Bankwest shifts non-WA corporate customers

Bankwest is shutting its corporate banking services outside of Western Australia and moving customers to its parent, Commonwealth Bank of Australia.

McGowan calls for PM 'backbone' on GST

Premier Mark McGowan has urged the prime minister to show some backbone and change the GST carve-up, saying agreement with all other state and territories is not necessary.

Rinehart family trust feud escalates

Bianca Rinehart has been given the go-ahead to sue her mining-magnate mother over her handling of the family's multibillion-dollar trust.

Shares open 74pts lower

The Australian share market is lower in early trade with investors spooked by a sharp sell-off overnight on Wall Street.

$A treads water against $US

The Australian dollar is treading water against its US counterpart as the greenback falls to a six-week low against a basket of currencies but the local central bank minutes fail to shed fresh light on its likely moves.

US oil hits Nov low on fresh glut fears

Oil prices have fallen, with US crude dropping to its lowest since November, as concerns about new supplies overshadow the latest talk by OPEC that it was looking to extend output cuts beyond June.

Gold at near 3-wk high as $US falls

Gold has rallied to the highest level in nearly three weeks after a strong debate performance from French centrist presidential candidate Emmanuel Macron and as fading expectations for near-term US interest rate rise pushs the US dollar lower.

RBA warns of rising risk in housing market

The Reserve Bank of Australia says there is reason to believe commodity prices could rise higher than expected but is concerned about increasing risks in the housing market.

Shares close 4pts lower

The Australian share market has closed slightly lower as falls from the major miners and the big four banks offset gains for retailers and China-exposed baby formula and vitamin makers.

Spotless shares soar on $1.3bn Downer bid

Shares in cleaning and catering company Spotless Group have jumped nearly 50 per cent after infrastructure and mining services firm Downer lobbed a $1.26 billion takeover offer.



Grylls concedes seat

WA Nationals leader Brendon Grylls, who was the target of a $2 million mining industry advertising campaign, today conceded he's lost his seat of Pilbara to Labor's Kevin Michel.

McGowan may sack City of Perth council

The entire City of Perth council may be sacked over the lord mayor's travel scandal if Labor wins the state election and the Local Government Act allows it, opposition leader Mark McGowan says.

Woodside cuts CEO pay after first strike

Woodside Petroleum's boss received lower pay in 2016 despite the energy giant posting a surge in profitability, after the company restructured executive pay following a shareholder vote.

McGowan to determine cabinet by Friday

Premier-elect Mark McGowan says his ministry will be a mix of experience and youth, and has again indicated he'll have the final say in its makeup.

most commented

Grylls concedes seat

WA Nationals leader Brendon Grylls, who was the target of a $2 million mining industry advertising campaign, today conceded he's lost his seat of Pilbara to Labor's Kevin Michel.

WA Treasury confirms Liberal costings

Treasury costings of theLiberal Party's campaign promises have shown the estimates to be reasonable, with the Liberal's plan showing the state getting back to a small surplus in 2019-20.

Halting Roe 8 not justified: Jacob

Western Australia's environment minister says there is no justification to stop work on the Roe 8 project, despite a Senate inquiry saying the Commonwealth should suspend approval for it.

TPG profit up on strong iiNet performance

Internet provider TPG Telecom has delivered strong interim financial results - thanks largely to the contribution of its iiNet operations - and has reaffirmed its underlying earnings guidance for the year.