AAP

Commonwealth Bank's CommInsure life insurance unit has been charged with 87 counts of unlawfully selling life insurance policies over the phone.

The Australian share market has opened higher, joining Wall Street in recording gains after two sessions of significant losses.

US crude futures were slightly lower overnight, drawing some support from the stock market after earlier touching nearly two-month lows on weak economic data.

Gold jumped more than 1.0 per cent to its highest in a week overnight as weak US data deepened concerns over economic growth and bolstered bets for further interest rate cuts by the Federal Reserve.

The Australian share market has dived for a second straight day, losing $49 billion in value amid a rout of global equities.

\Webster Limited is set to become the latest Aussie agribusiness firm snapped up by Canadian interests, with a proposed $854 million takeover by PSP Investments sending the nut and livestock producer's shares soaring by more than 50 per cent.

The Australian share market has opened sharply lower, with every sector losing at least 1.0 per cent, after a second day of significant falls on Wall Street.

Gold prices rose more than 1.0 per cent overnight as a report showing weaker-than-expected hiring by US private employers stoked economic fears the day after another report showed weak manufacturing activity in the world's largest economy.

Oil prices fell more than 2.0 per cent overnight after official data showed a rise in US crude inventories, adding to worries about an oversupplied market as weak economic readings in the United States depressed global financial markets.

A major sell-off in global shares has battered the Australian share market following fears the mighty United States economy is slowing.

National Australia Bank is set to cop a $1.18 billion hit in its full-year results including an extra $832 million in customer remediation costs related to dodgy insurance and the fees-for-no-service advice scandal.

Westpac and ANZ have followed the lead set by rivals Commonwealth Bank and NAB and will not pass on Tuesday's 0.25 per cent rate cut in full.

The Australian share market has opened sharply lower, mirroring falls on Wall Street overnight.

Oil prices slipped overnight, pressured as weak US economic data dimmed crude's demand outlook while reports of an output decline from the world's largest oil producers in the third quarter kept prices from falling further.

Gold jumped 1.0 per cent overnight, reversing course from earlier in the session when it touched a near two-month low, as the US dollar pared gains after weak US manufacturing data bolstered bets for another interest rate cut by the US Federal Reserve.

The Australian share market has enjoyed its best day in nearly a month following the Reserve Bank's decision to cut the cash rate for a third time this year.

The Reserve Bank of Australia has cut the cash rate to a new record low of 0.75 per cent, with the board prepared to go even lower if the nation's economy does not respond.

Iconic Aussie sportswear brand Rip Curl has agreed to be acquired by Kathmandu in a $350 million deal that will create a $1 billion Australasian surfing and outdoor adventure company.

Platinum plunged more than 5.0 per cent and gold shed 2.0 per cent overnight, leading a sharp decline across precious metals driven by a soaring US dollar, with deficit-hit palladium too giving up some gains from a record rally in which it breached $US1,700 per ounce.

Oil prices fell overnight on fading concerns of supply shortfalls and conflicts in the Middle East as global benchmark Brent posted its biggest quarterly loss this year on demand fears due to the escalating US-China trade conflict.

The Australian share market has closed higher, with gains across the board, but the ASX still suffered its first losing week since mid-August.

Labor Leader Anthony Albanese has branded Bunnings underpaying some workers' superannuation for almost a decade as "wage theft".

Oil slid overnight as new details connected to the impeachment inquiry into US President Donald Trump weakened demand sentiment while moves to quickly restore Saudi output after attacks on its oil infrastructure promised more oil supply.

Gold prices rose overnight after a nearly 2.0 per cent slide in the previous session triggered buying interest for the safe-haven metal, although a strengthening US dollar capped gains.

The Australian share market has fallen for a third straight day, underperforming compared to its peers in the region.

Oil shed more than 1.0 per cent overnight, logging a second straight day of losses after US crude stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected recovery of its oil production.

Gold slid 2.0 per cent overnight, retreating from a multi-week peak as political uncertainties in the United States stemming from an impeachment inquiry into President Donald Trump drove investors to the safety of the US dollar and limited bullion's appeal.

The Australian share market has fallen following an overnight sell-off on Wall Street as more political instability rocked the United States.

Voluntary assisted-dying laws have easily passed Western Australia's lower house, with the Bill now headed to the upper house of parliament where it will face a tougher passage.

The Australian share market has opened sharply lower, mirroring falls on Wall Street overnight.

Oil prices plunged more than 2.0 per cent overnight to their lowest since the September 14 attacks on Saudi Arabia's key oil facilities after US President Donald Trump rekindled fears the US-Chinese trade conflict that has crimped energy demand is far from over.

Gold climbed to its highest level in nearly three weeks overnight as calls for impeachment proceedings against US President Donald Trump pushed stocks into the red, with bullion getting a further boost from disappointing consumer confidence data.