AAP

Figures released by the Australian Bureau of Statistics show retail spending rose 1.2 per cent in January, three times the 0.4 per cent rise economists had expected.

Western Australian sandalwood producer TFS Corporation, through its US joint venture entity Santalis Pharmaceuticals, is about to ship 100 kilograms of oil to an unidentified global pharmaceutical company - at $US4,500 per kilogram.

The Australian market has opened weaker due to falls by the mining giants and a soft lead from Wall Street.

The federal government insists it is working to stop global companies avoiding tax.

A disappointing production forecast from oil giant ExxonMobil has pushed the Dow into negative territory on an otherwise flat day for US stocks.

Gold has gained for the second time in three days as weaker US economic growth and Russia-Ukraine tension underpin demand for haven assets.

A majority of ministers voted in favour to repeal foreign ownership limits in Qantas after the Abbott government introduced legislation to parliament today.

The Australian dollar is firmer on positive local economic growth figures and renewed global risk appetite as troubles in the Ukraine appear to de-escalate.

The Australian share market has closed higher, hitting a five-and-a-half year peak.

Verve Energy's claim that Woodside Petroleum breached its obligation to provide gas at its usual price during the Varanus Island disaster has been rejected by the High Court.

Supermarket giant Coles will open 70 new stores in the next three years, creating more than 16,000 jobs.

GDP rose by a better than expected 0.8 per cent in the December quarter, taking economic growth to 2.8 per cent for 2013.

Teachers angry at funding cuts will walk off the job on April 1st to rally in Perth and protest outside the WA Parliament.

The Australian market has rallied strongly after Russian president Vladimir Putin announced he had no plans to invade Ukraine.

Prime Minister Tony Abbott has urged Qantas to lobby Labor, the Australian Greens and crossbench MPs to support government changes to allow greater foreign ownership of the airline.

Engineering firm Downer EDI has won a $70 million contract to perform structural, mechanical, piping and electrical work at the Technical Ammonium Nitrate Plant project on the Burrup Peninsula in Western Australia.

US stocks have soared and investors pushed the S&P 500 to its second record close in three days on signs of easing tensions over Ukraine.

The Australian dollar is firmer as global risk appetite grows on the back of hope tension between the Ukraine and Russia is easing.

Gold prices have dropped, as easing fears over the situation in Ukraine drain trader interest in haven assets in favour of riskier bets such as stocks.

A scrapyard in the South West has been fined $80,000 over an unsafe work environment where a worker was fatally crushed under a piece of metal.

The Australian share market has closed higher, underpinned by gains by the big four banks.

Mining magnate Gina Rinehart has tumbled 10 places on a list of the world's wealthiest, despite getting richer.

The Reserve Bank of Australia has kept the cash rate at 2.5 per cent, amid signs that the local economy is starting to improve.

The Australian market has opened flat after already adjusting to the news of unrest in Ukraine.

Federal government plans to allow Qantas to be majority foreign-owned appear stuck on the runway, with only two of six key crossbenchers supporting the coalition in the new Senate.

US stocks have fallen sharply as investors recoiled from equities in the face of mounting tensions over Ukraine.

Global oil prices have soared to the highest levels this year as the Ukraine crisis raised concerns about disruptions to energy supplies.

The Australian dollar is treading water as the Ukraine crisis hits appetite for riskier assets.

Electrical and homewares retailer Harvey Norman has lifted its half year profit by 36 per cent, overcoming a tough retail market to grow sales.

The sharemarket took a slight fall on the last day of the month, but enjoyed growth in February after a solid corporate earnings season.

Western Australia will go back to the polls on April 5, after governor Malcolm McCusker confirmed the date of the re-run of last year's Senate election.

Woolworths has lifted its first half profit 14.5 per cent amid solid sales growth from its core supermarkets business.