AAP

Economic growth is expected to remain below trend well into the new year as Australia struggles to transition away from being a mining focused economy.

A leading business group is unimpressed at how the federal election campaign has shaped up after what had been a promising start.

Australia's second-largest internet provider iiNet is proving there's nothing wrong with being number two, after posting a 64 per cent rise in profit.

Miner Iluka Resources' first-half profit has been smashed in an environment of plunging mineral sands prices and weak demand.

The local stock market has opened flat as gains by the major banks offset losses by mining giant BHP Billiton.

Ports and rail operator Asciano has lifted its net profit more than 40 per cent due to growth in its coal haulage business.

The Australian dollar has regained some of its losses following the release of the Reserve Bank of Australia's August minutes, thanks to stronger gold futures on the back of greenback weakness.

Gold futures have hit a two-month high as losses in the US dollar stoked demand for the metal a day ahead of closely watched minutes from the Federal Reserve's latest meeting.

US stocks have closed mostly higher following some solid retail earnings reports.The Dow Jones Industrial Average fell 7.75 (0.05 per cent) to 15,002.99.

Australian shares have finished lower as investor concerns about emerging markets hit resource stocks.

Global resources giant BHP Billiton's full-year profit has fallen by 29 per cent to $US10.9 billion ($A12.0 billion), as falling commodity prices outweighed efforts to cut costs.

Greens leader Christine Milne has warned the botched approvals process for James Price Point is a sign of things to come under a coalition plan to return environmental decision-making powers to the

About 500 jobs could be lost from the Western Australian education system after the state government unveiled a new funding model.

Oil and gas producer Oil Search says its first half profit is up six per cent, but production had fallen marginally and is likely to remain flat in the next six months.

Perth has a new radio leader and it may surprise many people to learn it is Triple J.

The central bank has left the door open for more interest rate cuts but doesn't plan to walk through it just yet.

Premier Colin Barnett's push to keep the Browse gas project onshore has suffered another blow, with lead proponent Woodside recommending, as expected, the construction of a floating offshore plant

Premier Colin Barnett says he's received clarification of the federal coalition's paid parental leave plan and the state will cooperate with it.

The Australian share market has opened nearly one per cent lower.

Australia's largest business lender, National Australia Bank, is on track for a $6 billion full year profit, helped along by improvements in its troubled UK division.

The Australian dollar is lower, dragged down by a fall in commodity prices and the strength of the greenback which was boosted by high US Treasury yields.

Gold futures have fallen as jitters ahead of the Federal Open Market Committee's meeting minutes prompt some investors to exercise caution and move to the sidelines.

US stocks have closed lower, continuing their trend downward on mediocre economic news and higher bond yields.

The Australian dollar has firmed as the gold price reached its highest point in two months.

Australian stocks finished flat as some of Australia's biggest companies went ex-dividend ahead of the release of major profit reports this week.

BlueScope Steel shares have been hammered after the steelmaker reported a solid turnaround but ruled out dividends, warned of a flat outlook and increased its exposure to Australia's steel market w

The state government has been dealt an embarrassing blow to a planned multi-billion dollar gas hub in the Kimberley, with the state's chief justice ruling the environmental approval for the project

Federal Opposition Leader Tony Abbott has played up the benefits of his $5.5 billion a year paid parental leave scheme for small business.

Minerals explorer Metals X has acquired Rio Tinto's interest in the Mt Davies joint venture in South Australia, which it hopes will add value to its Wingellina nickel project.

Australia's largest freight rail operator Aurizon has flagged more job cuts as it deals with a growth slowdown in China.

Australian shares are flat, with rises in energy companies underpinning much of the market.

Federal Resources and Energy Minister Gary Gray says it was "inappropriate" for Premier Colin Barnett to make public a letter the minister sent to him about the Browse Basin.