AAP

Wesfarmers chief executive Richard Goyder says Australia's supermarket trade is not a duopoly controlled by Coles and Woolworths and online retailer Amazon is a far greater threat to local retailing.

Small businesses are being gouged by bank fees while big business gets off lightly, Reserve Bank data shows.

The federal government has announced plans to streamline visa applications for Australia's international education sector but the tourism industry says its own outdated visa system risks robbing the country of billions of tourism dollars.

Demand for skilled labour is on the rise and expected to continue climbing as a recovery in new home building takes hold.

With hopes fading that non-mining sections of the economy will take up the slack of a waning resources investment boom any time soon, an independent forecaster believes government infrastructure spending must be encouraged.

The Australian market has opened lower following a run of gains, an absence of more positive drivers and flat offshore leads overnight.

ANZ boss Mike Smith says the bank is "firing on all cylinders" after posting a bumper $6.5 billion profit.

The head of the Reserve Bank of Australia says house prices aren't rising too fast but has warned buyers not to over-extend themselves when taking out a home loan.

Education Minister Christopher Pyne says the coalition government will investigate whether it is sensible to on-sell $23 billion of HECS debt to the private sector.

US stocks have ended a quiet day essentially flat ahead of a two-day US Federal Reserve policy meeting that concludes on Wednesday.

The Australian dollar is lower as traders await more information on the state of the US economy.

The Australian sharemarket has closed at a five year high as the major banks lifted ahead of the release of NAB and ANZ results.

More than 1,100 West Australian public servants have applied for generous voluntary redundancy packages, as the state government strives to trim the budget.

Shares in Perth-based minerals explorer Greenland Minerals and Energy have spiked after Greenland's parliament voted to remove a 25-year-old ban on uranium mining.

The husband of Perth federal MP Alannah MacTiernan plans to plead guilty to a charge that he mishandled money from his law firm's trust fund.

Billionaire Clive Palmer has accused the Australian Electoral Commission of "complete incompetence" after more doubts emerged during the recount of votes for Western Australia's new senators.

The Australian share market is up and approaching five-and-a-half year highs after shares in the US hit all-time highs overnight.

Gold futures have ended higher as weaker US economic data fanned hopes of sustained monetary stimulus measures from the Federal Reserve.

From Saturday, October 26:

he Australian dollar is slightly lower amid nervousness about the Chinese banking system.

Canadian diary giant Saputo has increased its offer for Warrnambool Cheese and Butter to $449 million, insisting its takeover of the local company would not reduce competition.

Australian shares defied falls on other Asian markets to end the week with a gain.

Sandalwood producer TFS Corporation has received about $49 million from a Middle Eastern sovereign wealth fund to plant 595 hectares of Indian sandalwood at a new plantation in the Northern Territory.

A Fortescue Metals Group mine site in Western Australia's Pilbara region has been evacuated due to a bushfire caused by lightning.

Australian shares have opened higher following a positive night on global markets.

Gold futures have climbed to a one-month high, lifted by expectations for continued easy-money policies from the Federal Reserve after a slate of mixed US economic data.

US stocks have risen amid a mixed bag of earnings reports, as investors punished underperforming companies while bidding the overall market higher.

The Australian dollar is slightly lower as traders take profits after the currency's three-week rally.

Australian shares have finished higher, driven by strong gains among the big banks.

Non-mining investment is at levels not seen since the 1990s recession but a falling Australian dollar, low interest rates and improving business confidence should turn things around.

Newcrest Mining's chairman and chief executive have told shareholders they acknowledge how disappointed they are with the company's performance and are taking action.

The federal government has announced the first stage of its promised sell-off of Medibank Private, saying a scoping study will be completed by the end of February 2014.