AAP

Penfolds maker Treasury Wine Estates says its performance so far this financial year is on track and ahead of the prior year.

A bid by the Western Australian government to allow a certain amount of genetically modified material in certified organic food has failed.

This week, Treasurer Joe Hockey and Finance Minister Mathias Cormann said this was the year that the government "commenced the critical task of repairing the budget".

Telstra has paid a $102,000 penalty for misrepresenting the price of its iPhone 6 plan.

Consumers are becoming more pessimistic heading into Christmas, with weak September quarter economic growth figures not helping their mood.

Crown Resorts has announced the resignation of director Ashok Jacob, who has had a long association with the Packer family.

The high-speed communications network linking federal government departments and agencies could be sold.

The Australian sharemarket has started on the backfoot again after continued weakness in oil prices pushed global stocks lower overnight.

The Reserve Bank believes the Australian dollar is still too high, especially considering recent significant falls in commodity prices.

Woodside Petroleum will spend $US2.75 billion ($A2.98 billion) to buy LNG and oil projects in Australia and Canada.

US stocks have followed European markets lower after another big drop in world oil prices.

The Australian dollar has again threatened to fall below 82 US cents, under pressure from low oil prices and a siege in central Sydney.

Global oil prices have slid to new multi-year lows after a top OPEC official suggested that speculation largely was driving the market lower, indicating the cartel would keep output unchanged.

Gold prices have fallen, as the US dollar firms ahead of a Federal Reserve meeting later in the week.

The deficit forecast for the federal budget has blown out to $40.4 billion, with a surplus projected for 2019-20 in the mid-year economic and fiscal outlook.

US-based logistics giant Iron Mountain is bemused with Australian data management business Recall Holdings' dismissal of its $2.2 billion takeover offer.

The share market has fallen for a fifth consecutive session amid lower trading volumes due to a siege in Sydney's CBD.

Trading on Australia's key financial markets has been hit by the hostage crisis in Martin Place.

The corporate watchdog has cancelled the registrations of more than 400 self managed super fund auditors who failed to pass a competency test.

Newcrest Mining expects to save up to $US2.5 billion by splitting the development plan for a mine in Papua New Guinea into two stages.

The board of global drinks giant The Coca-Cola Company has approved a proposed $US500 million ($A540.98 million) investment in Australian subsidiary Coca-Cola Amatil's Indonesian business.

Supermarket giant Coles has apologised and offered refunds to suppliers after admitting it crossed the line with many of them.

The Australian share market has opened sharply lower following another slide in oil prices.

The Dow has plummeted more than 300 points as US stocks took cues from a rout in European equities following another big drop in oil prices.

The Australian dollar threatened to break its four-and-a-half-year low after oil and gold prices fell at the end of last week.

Gold has locked in a three-day losing streak as some investors chose to sell their holdings ahead of next week's Federal Reserve meeting.

Another big-four lender has announced a reprieve for drought-hit farmers in NSW and Queensland.

Illegal, unsafe, job killing, job creating, monopoly-busting, money saving - Uber may be the taxi industry's worst enemy but it's the adjective's best friend.

More cuts, new spending and a deeper deficit will be spelt out in the federal government's budget update next week.

The share market has fallen for a fourth straight day after Reserve Bank governor Glenn Stevens scotched expectations of interest rate cuts early in 2015.

Westpac expects the economy to improve in 2015, fuelled by further interest rate cuts and a lower Australian dollar.

A single contractor has won a $66 million tender to book $2.1 billion worth of federal government travel over four years.