AAP

Low commodity prices and falls in major overseas markets have caused the Australian share market to open almost two per cent lower.

The Australian dollar has eased off its highs gained following a startlingly strong jobs report.

Wall Street has been hit by a broad sell-off, dragged lower by downbeat views of the world economy and US rate rise concerns.

Gold has fallen to its lowest level since early 2010, under pressure from expectations the US Federal Reserve is on track to raise interest rates in December for the first time in nearly a decade.

Oil prices have sunk after the US government reported a big jump in US crude-oil inventories, reinforcing worries about the long-running global oversupply.

A Labor rival to Matt Keogh's bid to win preselection for the new West Australian federal seat of Burt has pulled out.

The Australian share market is slightly higher as the big banks gained ground after the release of a better than expected jobs report.

A rift is developing between the Western Australian Nationals leader and the Liberal premier over fly-in, fly-out (Fifo) worker camps, with speculation mounting it could end their alliance.

More than 200,000 ANZ customers will share in $13 million in compensation after the banking giant failed to pay them enough interest on their savings accounts.

Australia's largest rail freight operator Aurizon has defended its decision to carry out share buybacks rather than offering a special dividend.

If you can't afford to buy a home at least you can take heart that rents are steady, and are likely to remain so for quite a while.

Seven West Media chief executive Tim Worner says the TV network is "facing and embracing" the challenge of digital and has sought to position the broadcaster's scale as an edge in reaching new online audiences.

Unemployment has hit its highest level in Western Australia in more than a decade, at 6.4 per cent, despite the state's employment reaching its highest level on record, in trend terms.

BHP Billiton boss Andrew Mackenzie has described as "heartbreaking" the devastation wreaked by a deadly dam burst at a mine in Brazil and pledged to set up an emergency relief fund.

The Australian share market has opened lower.

The Australian dollar is slightly lower, weighed down by firming expectations of a US interest rate rise in December.

Worries about US retail sales and sinking oil prices have sent Wall Street shares lower.

Gold has edged down to a three-month low, failing to benefit from a softer US dollar, as pressure from an anticipated US rate rise as soon as December persists.

Oil prices tanked after a private report showed an unexpectedly big jump in US stockpiles, adding to concerns about the persistent global oversupply.

The Australian share market has closed higher, but gains have been crimped as investors hold back ahead of a flurry of Chinese economic data.

TPG Telecom is raising $300 million through a placement of shares to local and overseas institutions to repay debt accrued during its acquisition of Perth-based rival iiNet.

Mount Gibson Iron has lifted its sales targets for fiscal 2016, saying it can navigate through uncertain market conditions.

Fortescue Metals Group chairman Andrew Forrest has strongly criticised the strategies of the state's other major iron ore miners at the company's annual general meeting today, although the board experienced a close shave on its remuneration report.

The Australian share market is slightly higher, with its gains being reined in by falls in Westpac and BHP Billiton shares.

The US dollar index has touched its highest since April on growing expectations the Federal Reserve will raise interest rates next month, while US stocks ended up after a late-session bounce.

The Australian dollar is lower as the US dollar extends the rally sparked by expectations of an interest rate rise in December.

Gold has fallen toward a three-month low as the US dollar hits a seven-month peak on prospects the US Federal Reserve will raise interest rates in December, while silver and platinum extend losses to multi-week troughs.

Mining services group Bradken has flagged more cost cutting as the mining downturn drags on for years.

Positive Australian consumer data and better than expected housing figures have failed to stop the local share market from closing sharply lower.

Construction giant CIMIC Group has launched a takeover bid for east coast residential developer Devine.

The contest for Asciano looks set to heat up after a QUBE Holdings-led consortium sought to trump Brookfield Infrastructure with a $9.02 billion takeover proposal for the ports and rail operator.

The Australian share market has opened lower following a weak lead from overseas markets.