AAP

Tony Abbott's paid parental leave scheme is "expensive" and will be the most generous in the world but it's money well spent, Malcolm Turnbull says.

Troubled surfwear company Billabong has made a net loss of $860 million with major writedowns and a drop in revenue.

Prime Minister Kevin Rudd says it makes long-term strategic and economic sense to move the navy's main east coast base from Sydney to Brisbane.

The Australian dollar is slightly lower after weak US economic data and worries over Syria pulled it in opposite directions overnight.

US stocks have closed sharply lower after Secretary of State John Kerry warned that the US will demand "accountability" after an "obscene" chemical weapons attack on Syrian civilians.

The Australian dollar edged higher in a quiet day of trade.At 1700 AEST on Monday, the local unit was trading at 90.38 US cents, up from 90.03 cents on Friday.

Australian shares finished higher as investors bought banking stocks in the absence of local drivers.

Pressure is mounting on the state government to abandon plans to run light rail down Perth's busiest shopping mall.

Finance Minister Penny Wong doubts a coalition government can deliver a budget surplus without cutting services.

Tony Abbott says the coalition will have more to say about budget savings this week, but maintains the opposition's full costings won't be released until the final week of the campaign.

Drilling companies Swick Mining Services and Boart Longyear have provided a snapshot of conditions in the resources drilling sector, with underground and surface mining-focused Swick booking a reco

The Australian share market has opened higher after Wall Street made solid gains on Friday.

Gold prices have settled at their highest level in 11-weeks high after weaker US home sales data stoked hopes of sustained stimulus measures from the Federal Reserve.

The Australian dollar is a third of a US cent higher after the release of weak US housing data sparked concerns about the America's economic recovery.

US stocks scored solid gains to finish last week, with the market getting a jolt from Microsoft's announcement that chief executive Steve Ballmer will retire within the next 12 months.

A new medical school will go ahead in Western Australia regardless of whether federal government support is provided, Premier Colin Barnett says.

The Australian share market has closed higher on the back of encouraging international data.

Shareholders have slammed as too lenient the $50,000 fine handed to former Gunns chairman John Gay for insider trading.

BHP Billiton's board has granted more than $36 million in long-term bonuses to executives despite investors' shares losing value over the same period.

Western Australia "deserves" at least $100 million in federal funding towards Perth's new high-tech sports stadium, according to Premier Colin Barnett.

Human rights group UNICEF is appealing to the state government to reconsider its plan to charge 457 visa holders $4,000 a year to educate their children at public schools.

Property group Mirvac has suffered a 66 per cent drop in net profit following a massive writedown of its development projects, including a $74 million hit to the value of its developments in Wester

Treasurer Chris Bowen is putting renewed pressure on the coalition to release its costings after an independent analysis found a $30 billion hole in their figures.

The local share market has opened higher after solid gains on Wall Street overnight and encouraging Chinese manufacturing data.

The Australian dollar has been boosted by stronger-than-expected Chinese manufacturing data.

US stocks have managed solid gains despite a three-hour shutdown of the Nasdaq market that disrupted trade on other exchanges as well.

The Australian dollar fell to a two week low below 90 US cents as it looks increasingly likely the US Federal Reserve will soon start tapering its massive economic stimulus program.

More heat is being applied to Education Minister Peter Collier, with the state opposition demanding an independent inquiry into allegations he tampered with an inquiry into alleged bullying behavio

Australian shares fell on Thursday as local investors followed offshore leads and sold riskier stocks, including those in resources companies.

A rising share market has lifted the full year profit of market operator ASX.The company made a net profit of $348 million in the year to June, up 2.7 per cent from the previous year.