AAP

Airbnb says 4.5 million people booked rooms on its online lodging platform in regional Australia last year, with 260,000 guests visiting regional Western Australia, confirming the widespread uptake of its accommodation services.

The Yamatji Indigenous community has celebrated a landmark economic package and native title recognition for more than 100,000 hectares of land in Western Australia’s Mid West.

Rare earths miner Lynas Corporation has threatened defamation action against opponents aiming to prevent it from operating in Malaysia following attacks in the local media.

The Reserve Bank has kept its word and left its growth forecast unchanged through to the end of the year, while continuing to insist the GDP hit from bushfires, drought and coronavirus outbreak will be short-lived.

Heavyweight mining and energy stocks have dragged the Australian share market down at noon after three straight days of gains.

Oil futures gave up early gains overnight as OPEC and its partner Russia gave mixed signals about possible further output cuts to mitigate the impact of the coronavirus outbreak that has amplified concerns about weak global oil demand.

Gold rose overnight as expectations of central banks keeping interest rates low and uncertainties around the economic impact of the coronavirus epidemic fueled appetite for the safe-haven metal.

The local bourse has enjoyed its best single day in nearly a month, climbing back over 7,000 following a strong lead from Wall Street.

National retail spending fell by a worse-than-expected 0.5 per cent in a fire-affected December, however, retail giant Coles recorded a surprisingly strong Christmas period.

Indian miner Adani has been fined $20,000 for giving the Queensland government false or misleading information about land clearing.

Nationals MPs Keith Pitt and Darren Chester have been elevated to federal cabinet in a ministerial reshuffle.

Property group Mirvac has lifted its interim dividend following a 21 per cent gain in first-half operating profit to $352 million, though the firm's net result slipped. 

The big banks and oil-boosted energy stocks have powered the Australian stock market higher in a solid morning's trade.

Oil prices have jumped about two per cent on media reports that scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found.

Gold rose on Wednesday on bargain hunting, reversing course from a two-week low touched earlier, as investors latched on to the metal's overall uptrend on the back of a low interest rate environment globally and lingering uncertainties.

Australian stocks have finished higher for a second day but could not sustain a move above 7,000 as the death toll from the coronavirus outbreak in China neared 500.

Shares in CIMIC Group are up 8 per cent, a day after the international contractor named a new chief executive and announced a $1 billion full-year loss related to its decision to exit the Middle East.

Mining services provider Perenti Global says it is considering buying Downer EDI's mining servicing business, but dismissed a report of a $700 million offer.

Investor services group Computershare will buy registered agent provider Corporate Creations for $142.9 million in a move to improve its reach in the US.

Australian stocks are higher on renewed confidence about how China is handling the coronavirus crisis.

Oil prices edged lower overnight as fears that energy demand would take a long-term hit from the coronavirus outbreak offset prospects for more cuts in crude production from OPEC and its allies.

Gold slid more than 1 per cent overnight as Chinese steps to mitigate the economic impact from the coronavirus epidemic drove some investors away from safe havens and back into riskier assets.

Australian shares have closed higher as China took steps to prop up its economy and global manufacturing data showed factory activity rebounding in January.

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.

Gage Roads Brewing Company shares have lost a bit of fizz with the WA company's stock plunging to a more than two-year low after it flagged a shortfall in sales was likely contribute to a full-year guidance miss.

Deputy Prime Minister Michael McCormack has repelled a leadership challenge from Barnaby Joyce, emerging victorious in a party room ballot this morning, while Adam Bandt has been elected unopposed as Greens leader following the resignation of Richard Di Natale.

Australian shares have recovered from morning jitters as investors wait for news on the deadly coronavirus and a rates decision by the Reserve Bank of Australia.

Oil prices fell to the lowest in more than a year overnight as the coronavirus outbreak curtailed Chinese demand and sparked potential supply cuts by OPEC and its allies.

Gold fell 1 per cent overnight as the dollar firmed and investors opted for riskier assets after China took steps to relieve pressure on its economy from the impact of the coronavirus outbreak.

The local share market has nosedived amid fear that the deadly coronavirus epidemic will cause a prolonged shutdown of Australia's biggest trading partner.

Andrew Wood has retired as chief executive of engineering giant Worley and been replaced by the company’s chief operating officer, Chris Ashton, in a move that has surprised the markets.

Building approvals in Western Australia rose by 3.6 per cent to 982 in December, while total housing approvals across Australia dipped 0.2 per cent.