AAP

Atlas Iron has given ASX-listed rival Mineral Resources three days to respond to the $390 million takeover bid by Gina Rinehart's Hancock Prospecting.

The Australian share market is higher in early trading, with gains across the board led by energy stocks.

The Australian dollar has continued its slide against the US dollar, performing poorly versus an unchanged US currency.

Oil prices have risen in volatile trade as market participants lower their expectations for how much OPEC might increase production and investors assess the impact of a trade dispute between the United States and China.

The price of gold has held close to five-and-a-half-month lows, with a strong US dollar offsetting the upward influence of an escalating trade dispute between the United States and China.

The Australian share market has recovered from early weakness to eke out a tiny gain despite fears of a US-China trade war and lower commodity prices weighing upon mining and energy stocks.

Rural newspapers in Western Australia are set to shed staff with Seven West Media announcing a fresh round of voluntary redundancies as it moves to centralise its regional business.

South32 has made a $US1.3 billion ($A1.75 billion) bid to take sole ownership of US-focused Arizona Mining.

The Australian share market has opened lower, hurt by resource and energy companies, amid concerns about the global economic implications of the tit-for-tat tariffs battle between the US and China.

The Australian dollar has slipped a little further against its US counterpart as the spat between the US and China over trade hurts commodities and commodity currencies, including the Aussie.

Oil prices have fallen more than $US2 a barrel after two of the world's biggest producers indicated they might increase output at next week's OPEC meeting, while US exports were threatened by potential Chinese tariffs on crude oil and refined products.

Gold prices have slumped to a near-six-month low, as investors from China jittery about trade skirmishes with the United States unloaded bullion, and others joined the selling spree after prices breached below technical support of $US1,290 per ounce.

The Australian share market has closed at a four-week high after investors decided it was time to buy back into beaten-down banks, and the major miners and energy stocks made solid gains.

Australia's corporate watchdog has started legal action against Westpac over poor financial advice provided by one of the bank's former financial planners, Sudhir Kumar Sinha.

The Australian share market has rallied in early trade thanks to higher commodity prices boosting the miners and a strong start from the big banks after a positive lead from Wall Street.

Gold prices have risen to a one-month high after the European Central Bank pledged to keep interest rates steady through to the northern summer of 2019 and investors fret over weak Chinese data.

Oil prices are mixed, with Brent slipping and WTI gaining, as a stronger US dollar weighs and a key supply-setting meeting of the Organization of the Petroleum Exporting Countries looms.

The Australian dollar has slipped below 75 US cents, dropping more than half a cent as the greenback soars with the US dollar index up 1.1 per cent.

Australian shares have closed the day weaker after soft local job figures and weak economic data out of China weighed on a market already under pressure from overnight falls on Wall Street.

The Western Australian government has downplayed security worries around the expected award of a $120 million Public Transport Authority contract to Chinese telecommunications giant Huawei.

The former executive officer of a Western Australian Aboriginal corporation has been ordered to pay more than $430,000 in compensation and penalties after he borrowed money from the non-profit entity that he couldn't repay.

Western Australia’s unemployment rate fell slightly in May to 6.4 per cent despite the local economy losing nearly 2,000 jobs, according to the latest data from the Australian Bureau of Statistics.

The Australian share market has lost marginal ground following a negative lead from Wall Street after the US Federal Reserve hiked interest rates and foreshadowed a brisker pace of rises for the rest of 2018.

The Australian dollar is a little higher against its US counterpart after a jump then fall in the greenback following the Federal Reserve's lifting of its key interest rate by a quarter of one per cent.

Oil prices have turned positive after a bigger-than-expected decline in US crude inventories along with surprise drawdowns in petrol and distillates indicated strong demand in the world's top oil consumer.

Gold prices have turned lower after the US Federal Reserve announced it was raising interest rates.

The Australian share market has closed lower as investors await a decision overnight on interest rates from the US Federal Reserve, and also the European Central Bank.

The Australian share market has opened lower, hurt by financial, material and energy stocks following mixed leads from offshore and as investors await the outcome of the US Federal Reserve meeting.

The Australian dollar is lower after the US currency strengthened following a report that Federal Reserve chair Jerome Powell was considering more post-meeting press conferences.

Oil prices have closed mixed, with US crude settling higher before falling in post-settlement trading, and Brent slipping as investors prepared for a key meeting of the OPEC producer group next week.

Gold prices remain locked just below $US1,300 an ounce as investors wait for clues on the pace of US interest rate rises following the impending conclusion of a Federal Reserve policymaking meeting.

Virgin Australia chief executive John Borghetti will leave his role in 2020, ending a decade at the company.