AAP

Having riled even coalition colleagues with his comments about the fuel tax, Treasurer Joe Hockey is now warning everyone else they may have to swallow tougher budget measures.

The Australian stock market has opened higher following positive leads from Wall Street and a raft of encouraging local earnings results, including telecommunications giant Telstra.

Telstra has increased its dividend after lifting its full-year profit by more than 14 per cent.

The Australian dollar has bounced back above 93 US cents after soft US retail sales figures weakened the greenback.

Oil prices have pushed higher as investors shrugged off a surprise increase in US commercial crude-oil stockpiles.

US stocks have finished solidly higher despite a lacklustre US retail sales report and some disappointing earnings reports.

Premier Colin Barnett is waging a "phoney war" by calling for a greater share of the GST, and should be battling with Canberra for more infrastructure funding, federal member for Perth Alannah MacT

The Swan-Canning river system is not being properly protected despite conservation efforts made by the Swan River Trust, a new report has revealed.

The stock market has closed lower after a mixed day of earnings reports, highlighted by a negative reaction to Commonwealth Bank's record profit.

The local share market has opened lower despite a record profit from Australia's biggest bank.

Commonwealth Bank has posted a record $8.68 billion full-year cash profit, with gains across each of its core divisions.

The Australian dollar is slightly higher thanks to encouraging business figures.

Wall Street stocks have finished lower following disappointing German economic data and ahead of Wednesday's report on US retail sales.

Oil prices have dropped with the main European benchmark contract sinking to a 13-month low after a prominent petroleum forecaster slashed the demand outlook for 2014 and 2015.

The Australian share market has rallied as investors bank on a record annual result from Australia's largest bank on Wednesday.

Business confidence is at its highest level in almost four years, but it is uncertain whether the improvement will last.

The Australian Bureau of Statistics has said capital city house prices continue to rise, boosted by a strong Sydney housing market.

Hundreds of thousands of Australians could share in the nation's biggest class action, which has been launched against a number of banks over late payment fees.

Online travel group Wotif.com has suffered a 15 per cent slide in its full year profit amid increasing costs and a fall in a accommodation bookings.

Woolworths' home improvement business has hit troubled waters, with the retailer warning of a blowout in losses.

Telstra is taking a controlling stake in US video streaming and analytics platform Ooyala as it looks to expand beyond its traditional telecommunications business.

The Australian share market has opened higher.

David Jones boss Paul Zahra has quit the department store chain, to be replaced by Country Road head Ian Nairn.

The Australian dollar is hovering below 93 US cents following a quiet trading session overnight.

Oil prices have finished mixed as traders kept watch on turmoil in Iraq, while anticipating another drop in US crude-oil inventories.

US stocks have finished higher, capping a sunny day for global markets in a rally that gained force from a more optimistic perception of conflicts in Ukraine and Iraq.

Bendigo and Adelaide Bank has delivered a better than expected profit in the face of growing competition and customers getting ahead on loan repayments.

The Australian share market has closed higher, snapping a six-session losing streak.

Lending has risen to its highest level in more than six years, as businesses and individuals take advantage of low interest rates.

Woodside Petroleum has bought a 40 per cent stake in a joint venture deep water exploration project off west Africa.

Treasurer Joe Hockey has rejected advice from his Liberal predecessor Peter Costello that he cut his losses and scrap unpopular budget measures such as the $7 GP co-payment.

Vital Healthcare Property Trust, a New Zealand-based medical and healthcare property investor, has bought a 31-bed psychiatric hospital in Perth for $13.5 million.