AAP

New figures suggest the Australian economy is still crawling along at a growth rate below two per cent, but Reserve Bank governor Philip Lowe has made it clear that negative interest rates are "extraordinarily unlikely" in response.

Woolworths chief executive Brad Banducci has given up a potential $2.6 million bonus over the supermarket giant's wage underpayment scandal.

The Australian share market has risen, with every sector advancing after stocks on Wall Street hit record highs.

Oil prices rose overnight after news that US and Chinese officials discussed trade while predictions for a weekly draw on US crude stockpiles lent some support as well.

Gold edged higher overnight from a two-week low hit earlier on Tuesday after data showed US consumer confidence slipped in November, with investors eager for more details on the long-awaited trade agreement between the United States and China.

The Australian share market has closed higher for a third day, with gains across every sector except consumer discretionary shares.

Evolution Mining has agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corporation for $US375 million ($A553 million) in cash.

Cleanaway says it will rebuild its fire-damaged recycling facility northeast of Perth.

Westpac chief executive Brian Hartzer is stepping down and chairman Lindsay Maxsted will follow as Australia's second largest bank tries to keep hold of customers appalled at its money laundering and child exploitation scandal.

Caltex Australia has received an $8.6 billion unsolicited takeover offer from Canadian convenience store operator Alimentation Couche-Tard.

The Australian share market has opened higher, with every sector advancing, following gains on Wall Street overnight.

Oil prices edged higher overnight as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal to end their trade conflict.

Gold fell for a fourth straight session overnight, hitting a two-week low as investors' appetite for riskier assets increased on renewed optimism that a resolution to the protracted US-China trade conflict will soon be reached.

The Australian share market has moved higher after signs that China is willing to raise penalties on intellectual property theft, a key sticking point in its trade war with the US.

The company behind Masters dairy products is moving from Japanese to Chinese ownership, after the dairy heavyweight behind the $1.5 billion bid for organic infant formula maker Bellamy's Australia agreed to acquire Lion Dairy & Drinks.

Caltex Australia shares have jumped on plans by the fuels operator to launch a property IPO and float a 49 per cent stake in 250 retail sites.

The Australian share market has moved higher after a positive lead from overseas at the end of last week.

Oil prices fell on Friday, pulling back from two-month highs as concern over US-China trade talks overshadowed expectations of an extension to OPEC+ production cuts.

Gold prices edged lower on Friday as the US dollar and Treasuries strengthened after data showed US manufacturing output and services activity picked up, limiting demand for the yellow metal.

The Australian share market has closed higher for the first time since Tuesday, despite Westpac dragging the financial sector down.

Metcash shares have dropped more than 10 per cent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August.

One in three Australians were losing out on $6 billion a year in super, a parliamentary inquiry has been told.

WeWork is laying off about 2,400 employees, almost 20 per cent of its workforce, as the office-sharing company seeks to drastically cut costs after it transformed from a Wall Street darling into a pariah in a matter of weeks.

The Australian share market has moved higher despite a negative lead from Wall Street and another fall from Westpac.

Oil prices rose more than 2.0 per cent overnight to the highest in nearly two months following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020 and fresh signs that China had invited US trade negotiators for a new round of talks.

Gold prices eased overnight as a report that Chinese officials had invited top US negotiators for a new round of talks rekindled some hopes regarding the US-China trade deal but mixed signals on the progress of talks limited bullion's losses.

The Australian share market slumped for a second day, with losses across the board as passage of a US-China trade deal appears less and less likely anytime soon.

Racing and Wagering Western Australia (RWWA) is withholding prize money to high-ranking bureaucrat Paul Whyte and his co-accused as the thoroughbred owners face accusations they stole tens of millions of dollars in taxpayer funds.

Westpac shares have hit a nine-month low after the prime minister urged Westpac to consider chief executive Brian Hartzer's position over the bank's money laundering and child exploitation scandal.

The Australian share market has slumped as the heavyweight mining and financial sectors both fell more than 1.0 per cent.

Oil prices climbed more than 2.0 per cent overnight after a better-than-expected US crude inventories report and as the Russian government said it would continue its co-operation with OPEC to keep the global oil market balanced.

Gold fell overnight, retreating from a two-week high hit earlier in the session, after the United States started issuing licences for some companies to supply goods to Chinese firm Huawei, rekindling hopes for trade negotiations that had shown signs of turning more contentious.