AAP

The Australian share market has finished the week up two per cent, after posting gains every day of an entire week for the first time since October.

APRA has told lenders they can immediately change the way they assess customers' ability to meet mortgage repayments in Australia's new low-interest paradigm.

The Australian Labor Party is about to lose its national secretary Noah Carroll, as the party rebuilds following its shock federal election loss.

The Australian share market is flat at the start of trade with the mining sector down and no overnight lead from the US, where markets were closed for the July 4 holiday.

Oil prices fell in thin trade overnight, weighed down by data showing a smaller-than-expected draw on US crude stockpiles and worries about the global economy.

Gold prices eased overnight as investors locked in profits before this week's US non-farm payrolls data and as a rally in stock markets briefly halted the metal's recent strong run.

The Australian share market has finished higher for a fourth day, setting a fresh 11-1/2-year high, despite losses in the heavyweight mining sector.

The consumer watchdog is taking Samsung to court for telling consumers that many of the four million Galaxy phones sold in Australia were water resistant, while knowing they were not.

Australian workers could receive an extra $1,000 when they lodge their tax returns from next week, after the federal government secured crossbench support for its flagship tax cut package.

The Australian share market has risen at the start of trading after stocks on Wall Street hit new highs.

Oil prices edged higher overnight ahead of a US holiday, after falling steeply a day earlier as worries about a slowing global economy outweighed a decision by OPEC and allies to extend crude output cuts.

Gold steadied overnight, paring earlier gains as a rally in equities reduced the attraction of the non-yielding metal while global growth concerns and prospects for dovish monetary policy kept bullion supported.

The Australian share market has showed its resiliency, closing higher for a third day as markets across Asia slipped.

Australia's trade surplus hit a record $5.7 billion in May after a $925 million monthly rise largely on the back of iron ore exports to China.

Supermarket giant Woolworths is combining its liquor and hospitality businesses ahead of a divestment next year.

The Australian share market has opened flat despite a positive lead from Wall Street overnight.

Oil prices fell more than four per cent overnight, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand.

Gold prices rose 1.5 per cent overnight, a day after posting the biggest one-day percentage fall in two and a half years, as US Treasury yields fell on worries over global growth and renewed concerns over global trade.

The Australian share market fell flat after the Reserve Bank delivered a consecutive cash rate cut, with the big four banks and mining giants pulling in opposite directions.

The Reserve Bank of Australia has cut the cash rate to a fresh record low of 1.0 per cent, reducing the cost of borrowing for two months in a row for the first time since 2012.

The Australian share market has opened higher as investors await the central bank's cash rate decision.

Oil prices pared gains overnight after worries about oversupply persisted, pulling back from an early rally as OPEC extended supply cuts until March 2020 during a meeting in Vienna.

Gold slid by as much as two per cent overnight as the US dollar rallied and investors flocked to higher-risk assets after the agreement to resume trade talks between the United States and China.

The Australian share market has closed higher but failed to make strong gains after the US and China agreed to resume trade talks over the weekend.

The Australian share market has opened higher, with almost every sector recording a positive start on the first day of the new financial year after the US and China agreed to restart trade talks.

Oil prices fell on Friday but posted their second straight week of gains ahead of widely expected production cuts from OPEC on Monday.

Gold prices held steady on Friday ahead of the weekend's G20 summit and US-China trade talks while platinum surged more than three per cent.

The Australian share market remains has dropped across the board ahead of a meeting between the US and Chinese leaders at the G20 summit in Japan.

The Western Australian government has brokered a $250 million settlement with BHP over a royalties dispute.

Oil Search has exercised a $US450 million ($A642 million) option to double its stake in a string of Alaskan exploration leases, while also affirming plans to sell off a portion of its first major venture outside Papua New Guinea.

The Australian share market has opened lower as investors await a meeting between the US and Chinese leaders at the G20 summit in Japan.

Oil prices edged higher overnight on expectations that OPEC will extend an output cut agreement while investors awaited a meeting between the United States and China that could produce a breakthrough on trade talks.