AAP

A well-known member of the South Perth Yacht Club, Nick Norris, and reportedly three of his grandchildren were killed in the crash.

Santos has notched up a 25 per cent increase in revenue as the massive PNG LNG project starts production ahead of schedule.

The head of Australia's largest online employment website says more people will lose their jobs and will have fewer opportunities to find work as businesses increasingly replace labour with technology.

Treasurer Joe Hockey says governments are out of money and can only fund vital infrastructure with funds from the private sector.

Rail freight and ports operator Asciano has confirmed that it is in talks over a possible sale of a non-controlling interest in its terminal and logistics business.

Australian stocks are on the back foot following the Malaysia Airlines crash in Ukraine, but the local market has so far avoided the bigger sell-offs seen in other parts of the world.

US stocks have tumbled after a Malaysian airliner crashed in rebel-held eastern Ukraine.

The Australian dollar is lower amid fears a Malaysian Airlines flight was shot down in rebel-held east Ukraine in what is being called a "terrorist" attack.

Global oil prices have pushed higher after a Malaysian jetliner crashed in rebel-held eastern Ukraine, sparking concerns of an escalation in the crisis in the former Soviet state.

The Australian share market has firmed slightly to reach 5,522.4 points, its highest close in around six years, which was boosted by strength in the resources sector.

Revelations of Rupert Murdoch's $80 billion attempt to create the world's biggest media company has sparked speculation it will lead to a bid for Australia's Ten Network.

The Australian market has opened higher after a strong session on Wall Street and good news for the resources sector.

Woodside Petroleum has lifted its annual production target after enjoying a double-digit rise in second quarter production levels and sales.

The $2.2 billion foreign takeover of David Jones will go ahead, after the Federal Court approved the sale of Australia's oldest department store to South Africa's Woolworths.

Four hundred global business leaders gathered in Sydney to reach consensus on a pathway for jobs growth will hear from Prime Minister Tony Abbott this morning.

The Australian dollar has recovered some of its losses following the release of Chinese economic data.

The Dow Jones Industrial Average has bolted to a new record as strong Intel earnings and a new IBM venture boosted the blue-chip index.

The big miners pushed the Australian share market higher after some record iron ore production reports, but the big banks all made losses.

Fortescue Metals Group said it planned to buy eight iron ore carrier ships from China for $550 million.

Shares in Sirius Resources have shot up by more than 13 per cent after its latest nickel discovery in Western Australia's south-east.

Caltex Australia has signed a $200 million deal to supply diesel fuel to Gina Rinehart's $10 billion Roy Hill iron ore mine in the Pilbara.

Iluka Resources has indicated that zircon sales could be affected by a property downturn in China.

Rio Tinto has lifted quarterly iron ore production and sales by 11 per cent and 23 per cent respectively, in line with market estimates.

Qantas has welcomed a decision to raise foreign investments caps on the airline, but said it still wants to see the restrictions removed completely.

The Australian market has opened higher off the back of strong performances in the resource sector.

The Australian dollar has moved little overnight, despite US Federal Reserve chair Janet Yellen saying interest rates could be raised sooner than expected.

US stocks have finished mostly lower with the Nasdaq dropping more than 0.5 per cent after the Federal Reserve warned that some technology stocks appear to be overvalued.

Global oil prices have dropped, with the US futures contract sinking below $US100 for the first time since May on receding worries about Iraq supply disruptions.

The first review of the financial system since 1997 may result in lower superannuation fund fees and slow the erosion of retirement nest eggs.

The Australian share market has closed flat as investors wait for a sufficient catalyst to make a stronger push beyond the 5,500-point mark.

Health workers at Perth's major hospitals have begun rolling stoppages over a pay dispute with the state government.

The Reserve Bank of Australia said it was difficult to judge whether low interest rates would be enough to offset the effect of budget cuts and mining investment slowdown.