AAP

The Australian dollar surged close to 92 US cents as traders interpreted the minutes of the Reserve Bank's July meeting as a sign interest rates won't be cut in August.

Australian shares have closed slightly higher, boosted by gains from resource companies on the back of record production results from mining heavyweight Rio Tinto.

Strike Energy has taken advantage of concern about an east coast gas supply shortage by negotiating a $52.5 million offtake deal with Orica to fast-track development of its Cooper Basin assets. Orica has agreed to buy up to 150 petajoules of natural gas over 20 years.

Negotiations between Western Australia and Canberra over the proposed schools funding plan are at a standstill, the prime minister's office has revealed.

Australia's biggest owner of natural gas pipelines APA Group has approached leading natural gas distributor Envestra Limited about a merger proposal.

Beleaguered surfwear icon Billabong is expected to announce asset sales and new loans within days as it fights to overcome weak revenues and oversized debt.

The Reserve Bank says another interest rate cut could be on the cards thanks to a benign inflation outlook.

Prime Minister Kevin Rudd says he's taking a wait-and-see approach to Indonesia's stance on live cattle export quotas.

The Australian stock market is higher, following Wall Street's lead after the Dow Jones Industrial Average and S&P 500 both reached fresh record highs for the third session in a row.

Prime Minister Kevin Rudd is under fire from unions, business and the Greens over his plan to start emissions trading in 2014, but insists it will help ease living costs while maintaining pollution

The tax office is set to target builders and sales and marketing managers over incorrect work-related expense claims this year.

Defence Minister Stephen Smith has bagged coalition suggestions that Indonesia would accept a policy of towing back asylum seeker boats.

The Australian dollar is higher after weaker US retail sales figures made it look less likely the US central bank will taper its economic stimulus program any time soon.

US stocks have closed higher, edging to new all-time highs as in-line Chinese economic growth data offset disappointing US retail sales figures.

Encouraging signs for the housing sector have driven a rise in banking shares, which pushed the market to a fifth straight day of gains.

The Australian dollar got a modest bounce from China's latest economic growth figures, but remains lower.

Competitive car prices and the relatively strong Australian dollar are tempting more Australians to upgrade to a new set of wheels.

Winemaker Treasury Wine Estates will take a $160 million hit as it attempts to address a glut of stock in the United States.

Australia's second largest energy retailer AGL Energy plans to buy smaller rival Australian Power & Gas for about $100 million.

Sundance Resources is now fighting legal action on three continents over a 2010 plane crash in west Africa which killed the company's entire board of directors.

Labor's scrapping of the carbon tax will ease living costs but households shouldn't get too excited.

Shares in mining hopeful Oakajee Corporation have been placed in a trading halt as the company moves to raise funds.

Resources lawyer Melissa Price has been endorsed as the federal Liberal candidate for Durack in Western Australia, after sitting Liberal MP Barry Haase announced he'll retire at the next election.

US stocks edged higher to new highs on Friday after strong banking earnings helped offset a profit warning from UPS and fresh trouble for Boeing's Dreamliner aircraft.

The Australian dollar is one US cent weaker after the People's Bank of China said a short-term jump in interest rates would not hurt the world's second biggest economy.

Strength in the resources sector has pushed Australian shares higher, although the market lost some ground after China's finance minister lowered expectations for the country's economic growth.

A cut in mining investment will leave Australia with a steeper capital expenditure downturn than during the global financial crisis, Standard & Poor's says.

A rise in home loan approvals is a sign that record-low interest rates are working to stimulate the housing sector.

The man responsible for rolling out Australia's national broadband network will retire after four years in the job.

The Australian market has opened higher after the Dow Jones Industrial Average and S&P 500 surged to record highs overnight.

Building products group CSR predicts a sustained recovery in the Australian housing construction sector, led by Western Australia and New South Wales.

The Dow Jones Industrial Average and S&P 500 have vaulted to new records, after Federal Reserve chairman Ben Bernanke pledged to maintain the Fed's easy-money policy for the foreseeable future.