AAP

US stocks have tumbled after Dow components Cisco and Walmart spotlighted the weak economic outlook in their earnings reports.

The Australian dollar has firmed after Japan's economics minister, Akira Amari, said Australia's second largest trading partner was halfway out of deflation.

The share market edged lower due to mixed reactions to corporate earnings reports.

Rio Tinto's dispute with the Mongolian government has intensified after the mining giant said it would sack up to 1,700 mostly local workers.

Federal Labor would set up a special economic zone in northern Australia if re-elected, Prime Minister Kevin Rudd says.

Wesfarmers is optimistic about the year ahead after supermarket giant Coles helped it grow annual profit by 6 per cent to $2.26 billion.

Australian stocks have opened slower on the back of disappointing data out of the United States.

Penalty rates for workers are firmly in the sights of the coalition if it wins the federal election, unions say.

Chilean workers have gone on strike at BHP Billiton's Escondida, the world's largest copper mine, over demands for an annual bonus and better working conditions.

- The Australian dollar is a quarter of a US cent higher, helped by some positive European economic data and higher metals prices.

US stocks on Wednesday closed lower after anaemic inflation data and a disappointing earnings report from Macy's suggested economic weakness.

The Australian share market is slightly lower after strong earnings reports from major companies failed to hearten investors

Average wage rates across the national economy grew by just 2.9 per cent over the past financial year, and economists tip continued low growth as rising unemployment signals a weakening labour market.

The mining sector's slowdown and fewer construction projects have caused a nine per cent fall in annual profit for services and engineering firm WorleyParsons.

Construction and mining services giant Leighton Holdings has reported a significant lift in half-year profit, a result which was boosted by the $620 million sale of its telecommunications assets ea

Specialist workforce provider SKILLED Group has grown its profits by almost 14 per cent despite a weakening mining sector dragging business down.

The resources sector union has been granted leave to appeal a decision allowing workers at Woodside's Pluto gas plant to be denied accommodation during wage-related industrial action.

Oz Minerals has blamed lower production volumes at a South Australian gold and copper mine and big write-downs for a half-year loss of $268 million.

The Australian share market has nudged slightly lower in early trade.

The federal opposition is refusing to say when it will return the budget to surplus, with Liberal treasury spokesman Joe Hockey claiming the bottom line figures are "almost too unpredictable".

Commonwealth Bank of Australia has posted a record $7.68 billion full-year profit.CBA's net profit for the year to June 30 was up 8 per cent from $7.09 billion in the previous year.

The Australian dollar is lower after the greenback was boosted by positive US retail sales data that sustained speculation the US Federal Reserve will begin tapering soon.

US stocks have closed in positive territory as corporate raider Carl Icahn revealed a large stake in Apple, sending the technology titan 4.8 per cent higher.

The Australian dollar is lower against a US dollar strengthened by moves from investors expecting strong US economic data to be released this week.

The Australian share market has hit a three month high, with investors buoyed by positive local earnings performances potential stimulus measures in Japan.

Millionaire Perth property developer Nigel Satterley has snapped up a $17.5 million bargain, buying one of Western Australia's most historic and prestigious homes for well below

Ford says its committed to Australia after a multi-million dollar launch of its new line of cars.

Voters are being prepared for Tony Abbott to emulate Premier Colin Barnett and backflip on numerous election promises, according to high-profile Labor candidate Alannah MacTiernan.

The departments of Treasury and Finance expect the federal budget deficit to be $30.1 billion in 2013/14, unchanged from the government's own forecast.

Business conditions remain at four-year lows, while low interest rates and the falling Australian dollar have failed to boost business confidence.

The Australian share market has opened fractionally higher, boosted by the big miners.

Property developer Stockland has seen its net profit fall almost 80 per cent due in part to weakness in the housing market and a major writedown.