AAP

Mining billionaire Andrew "Twiggy" Forrest's court case against Facebook parent Meta will proceed after overcoming an argument about legal jurisdiction.

The local share market has suffered another plunge, with all sectors closing lower as sentiment again sours following last week's rollercoaster ride on Wall Street.

Health Minister Mark Butler has ordered his department to examine claims the Medicare system was being rorted by billions of dollars each year.

The federal treasurer is hoping Australia can avoid a recession due to its strong economic fundamentals.

Australian shares have finished up 1.75 per cent after a whipsaw session on Wall Street, which staged one of the biggest one-day reversals in its history.

Inflation remains public enemy number one as the treasurer expects the US central bank to keep hiking rates aggressively in response to a higher-than-expected inflation print.

The local share market has closed almost unchanged overall for a second day in a row, but the big banks finished ahead and Qantas rose on its profit outlook.

Global gas prices are tipped to surge by more than 50 per cent as Europe weans itself off Russian gas, with Australian producers in line to ship more LNG.

The West Australian government will close all its major COVID-19 vaccination clinics by early November.

The local share market has spent the day treading water, finishing little changed from where it began with gains for the banking sector and losses for miners.

The local share market is slightly higher this morning, with gains by the big banks outweighing losses by the mining and energy sectors.

An independent monitor has been appointed to oversee the operation of the Perth casino as the Crown Group works to establish its suitability to hold a casino licence.

The local share market has lost ground for a third day in a row, while the Australian dollar sank under 63 US cents for the first time since April 2020.

Several investigations have been launched following the massive Optus data breach, including one by the Office of the Australian Information Commissioner.

The local bourse has suffered its worst losses in two weeks after solid US jobs data suggested aggressive rate hikes would continue.

Defence Minister Richard Marles has promised more oversight after identifying billions of dollars in budget blowouts and major delays in military projects.

The ASX fell 0.8 per cent on Friday but still had a 4.46 per cent gain for the week, its best weekly performance since October 2020.

The opposition says the government is trying to till the soil for changes to the stage three tax cuts.

Minerals Council of Australia chief executive Tania Constable has pushed back against calls by former Australian Competition and Consumer Commission chair Rod Sims for higher taxes on mining profits.

Skills Minister Brendan O'Connor says the federal government is working with businesses and state counterparts to address critical skills shortages.

The local share market has rallied for a second day on hopes aggressive interest rate hikes are finally moderating.

A warrant has been issued for former WA senator Rod Culleton after he failed to appear on charges of giving false information to federal election officials.

The central bank has shifted gears and moderated its rate hikes, with some economists concerned this could prolong the rate hiking cycle.

Staff at a West Australian university have become embroiled in an unusual industrial dispute over the right to not answer phone calls or emails.

Pilbara Minerals hit an all-time high today as lithium stocks led a strong rally on the local bourse.

Home lending has dropped 15.4 per cent since the Reserve Bank started hiking interest rates, but dwelling approvals bounced back in August.

The nation’s central bank has reacted to concerns about the pace of interest rate rises with a softer-than-expected decision, lifting the official cash rate 25 basis points to be 2.6 per cent.

The local share market has rallied more than two per cent in early trading and is on pace for its best day since January 28.

The ASX200 index has finished down 0.27 per cent, clawing back most of its morning losses after almost hitting a two-year low.

The gas industry is predicting a tripling in its bill for tax and royalties after windfall profits brought on by high prices prompted by the war in Ukraine.

The local share market has fallen again, closing the week down 1.5 per cent and for the month down 7.3 per cent.

National cabinet has agreed to get rid of mandatory five-day isolation periods for people with COVID-19.