AAP

Australian shares have closed higher led by the big miners following strong overnight leads from Wall Street as fears of a trade war between the US and China receded.

Copper miner OZ Minerals has launched a $444 million takeover bid for Avanco Resources, sending shares in the Subiaco-based ASX-listed exploration company soaring.

Fortescue Metals Group has cut the amount it expects to receive for its iron ore shipments this year, saying slow Chinese construction and the recent Trump-inspired trade war fears are weighing on forecasts.

Australian shares made solid gains in morning trade after Wall Street had a strong rebound on easing anxieties over US trade protectionism.

The Australian dollar is higher, as US stocks start to recover after their worst weekly performance since January 2016.

US stocks have risen across the board as fears about a trade war between the US and China eased following reports that the two countries were willing to negotiate tariffs and trade imbalances.

Gold prices rose to more than five-week highs on Monday after the United States said it would expel 60 Russian diplomats, prompting investor flight into assets considered safe havens.

Gold miners were the one bright spot today as Australian shares fell back to levels not seen since mid-October, with almost every other sector in negative territory as worries of a protectionist trade war continue to weigh down global markets.

Telstra is being taken to court by the consumer watchdog, and is facing fines of up to $10 million and user refunds of $5 million after the telco allegedly charged its own customers unawares through a third-party billing service.

Wealth manager AMP has announced chief executive Craig Meller will step down at the end of the year, as the hunt for his successor begins.

Incoming chief executive Matt Comyn has already started his overhaul of the Commonwealth Bank's leadership team, with three senior executives set to depart.

Australian shares have started the day lower, following a plunge in industrial metal prices and US stocks amid ongoing concerns of a possible trade war between the US and China.

The Australian dollar is back where it finished the local session on Friday, managing to hold its ground despite falls in base metals prices and US stocks.

Crude prices on Friday hit their highest level since late January after the Saudi energy minister said OPEC and allied producers would need to keep coordinating supply cuts into 2019, and as concer

Gold prices surged to a one-month high on Friday as the threat of a global trade war sent investors scrambling for safe assets.

Australian shares have plunged to a six-week low after fears of a US-China trade war, with Bluescope Steel and a number of local resources stocks suffering the worst impact.

Internet service providers Dodo, iPrimus and M2 Commander will compensate almost 6,000 customers after admitting they likely breached consumer law by offering national broadband network speed plans they could not deliver.

Australian shares are sharply lower after the Trump administration slapped sanctions on $US48 billion worth of Chinese imports, and imposed restrictions on Chinese investment.

Oil prices have dropped after investors took profits after this week's rally and as US stock markets fell, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.

US stocks have fallen about 1 per cent on the growing threat of a global trade war as the Trump administration plans to impose import tariffs on China and as technology stocks stayed under pressure

Most of the 63 Myer stores around Australia are likely to be at break-even and the veteran retailer must shrink to survive, a new analyst's report says.

The Australian share market has closed lower after the US central bank lifted interest rates and forecast further hikes in the years ahead.

The Australian share market is trading lower after US stocks dropped in late trade following the US Federal Reserve's first interest rate hike for the year.

The Australian dollar has rallied almost one US cent, after the US Federal Reserve raised its interest rate for the first time this year and paved the way for more rate hikes later this year.

Oil prices hit a six-week high on Wednesday, closing in on a three-year peak set in late January, on a surprise decline in US inventories, strong compliance on OPEC production cuts, and persistent

Gold rose more than one per cent from a three-week low after the US Federal Reserve increased interest rates and forecast at least two more hikes for 2018, falling short of the three more increases

The Australian share market closed higher on a day of light trading volumes ahead of a decision on interest rates by the US Federal Reserve.

The tourism industry has thrown its support behind the government’s new two-year plan to increase visitation to Western Australia, but says the plan needs to be backed with the right leadership, skills and financial resources.

Internet plans over the national broadband network are getting cheaper, a new report says, despite recent criticism from retailers that their NBN costs are too high.

Billionaire James Packer has quit the board of casinos operator Crown Resorts because he is suffering from mental health issues.

Myer's executive chairman has issued a damning indictment of the department store chain's performance under ex-chief executive Richard Umbers after it slumped to a $476.2 million first-half loss.

Australian shares have opened comfortably higher after a strong surge in oil prices gave energy stocks and the major US stocks indexes a boost.