AAP

US stocks have retreated as a partial US government shutdown loomed due to Washington political gridlock over a new budget.

The Australian dollar is higher against a weaker US dollar as the US Congress struggles to pass budget legislation before the end of the financial year.

The Australian dollar has fallen slightly ahead of next week's Reserve Bank board meeting, amid anticipation that the central bank may lean towards another rate cut.

Woolworths boss Grant O'Brien earned $5.7 million last financial year, just over half as much as his rival at Coles.

The Australian share market has hit another fresh five year high as previously underperforming stocks pushed the market to its seventh consecutive week of gains.

Australia's largest automotive retailer says the outlook for car sales is encouraging, especially since proposed changes to the fringe benefits tax (FBT) were dumped.

Harvey Norman chairman Gerry Harvey's annual pay remained steady at $1.03 million last financial year, as the company's profit dropped by 17.5 per cent.

Origin Energy is headed to court over allegations its door-to-door salespeople harassed and lied to customers.

The City of Perth is pushing ahead with a bid to expand its boundaries, voting to add another prominent nearby landmark to its jurisdiction.

Tigerair Australia will begin flying between Sydney and Perth from December.

Federal Treasurer Joe Hockey says the budget has deteriorated and the projected deficit for this financial year is likely to be worse than Labor's forecast.

The Abbott government is reportedly considering a review of all welfare payments, including income-support payments for single parents.

The Australian stock market has hit a fresh five-year high, following Wall Street's positive overnight lead.

The Australian dollar is slightly lower as traders wait for a clearer picture on the progress of budget talks in Washington.

US stocks have risen for the first time in six days after some encouraging jobs and housing market data.The Dow Jones Industrial Average rose 55.04 points (0.36 per cent) to 15,328.30.

The Australian dollar is higher, boosted by risk sentiment in the Asian region on news that Japan may cut corporate taxes.

BHP Billiton says the environmental assessment of its multi-billion dollar Scarborough joint venture is progressing well amid support from the Western Australian government.

White London cabs are about to hit Perth streets as part of a four-year trial to improve the security, standards and availability of the city's taxis.

The Australian share market has closed higher for a second straight day despite the uncertainty caused by a US budget deadlock.

Australia needs to build many more houses and apartments if it wants to put the brakes on price rises and improve affordability, according to one of the country's top bankers.

About 140 workers have found out they will be without a job when pharmaceutical company Pfizer shuts down its Sydney manufacturing plant in 2015.

Global casinos operator Crown says it is working to improve the quality of its Australian resorts, while also keeping a close eye on costs.

Prime Minister Tony Abbott is confident of striking the right balance between farmers, the environment and prosperity when it comes to maximising gas extraction in Australia.

The Australian stock market has followed Wall Street lower as fears of a possible US government shutdown next week weigh on investors.

The Liberal-led Western Australian government has contradicted itself, revealing it doesn't have a clear policy for state-owned energy assets, the opposition says.

Even more job cuts could be on the horizon at Telstra after a decision to fire more than 1000 workers.

BHP Billiton has raised $US5 billion ($A5.3 billion) on global bond markets.

Australia's newest radioastronomy project is helping to detect potentially lethal space junk, an eminent scientist says.

The declining terms of trade means there must be a focus on productivity growth if wages growth is to be sustained, new research shows.

The US Federal Reserve is looking into allegations that traders received information about its policy decision last week ahead of the official release time.

Gold futures have risen as investors fear a potential impasse in US budget talks may bolster demand for the metal.

The Australian dollar is slightly higher against the US dollar as the greenback is pressured by weaker economic data and worries over US government budget negotiations.