AAP

The state government has gone back on its decision to slash by half the amount paid to households that feed solar power into Western Australia's energy grid.

The Australian dollar is higher as the currency continues to extend gains following the release of strong Chinese data.

US stocks have retreated from record peaks and finished lower after a sluggish week light on news and trading volume.

The Australian dollar is higher despite the Reserve Bank of Australia's weaker outlook for economic growth.

Australian shares rallied late, but closed slightly lower on Friday after being dragged down by the banks.

Prime Minister Kevin Rudd says the price of an average jar of Vegemite will rise by about 50 cents, if the rate of the GST is increased.

ANZ is the last of the big four banks to pass on the Reserve Bank of Australia's quarter of a percentage point interest rate cut.

The deterioration in the economic outlook underpinning the latest interest rate cut was so minor it is barely detectable in new forecasts from the Reserve Bank of Australia.

Australian shares have opened weaker despite a recovery on Wall Street, but local resource giants are defying the trend.

The Australian dollar is near its highest level in almost two weeks after Chinese international trade data showed the world's second largest economy is still going strong.

US stocks have snapped a three-day losing streak, catalysed by stronger Chinese trade data and better sentiment on the European economy.

The Australian dollar is higher despite weak jobs figures, boosted by better than expected trade data out of China.

Rio Tinto's profit for the first half of 2013 has fallen by 71 per cent to $US1.72 billion ($A1.92 billion).

Gold miner Newcrest will take a $6.2 billion hit to its bottom line from writedowns on its assets in the 2012/13 financial year.

The Australian share market has clawed back some of Wednesday's losses due to positive Chinese trade data and a strong profit result from Telstra.

Premier Colin Barnett says he hasn't given up pushing for the Woodside-led Browse gas project to be developed onshore in the Kimberley.

The Australian share market has opened higher.

Kevin Rudd's stoush with media mogul Rupert Murdoch is showing no signs of easing, with the prime minister demanding to know what talks, if any, Tony Abbott has had with him over the future of the

Telstra has reported a 12.9 per cent rise in full-year net profit to $3.9 billion, with revenue up two per cent to $26 billion.

There was good news and bad news for the Labor government in the latest jobs data.

The Australian dollar is higher as the US dollar falls against all the major currencies on fears about the Japanese economy.

US stocks on Wednesday retreated for the third straight session on another quiet news day that left investors searching for direction.

Australian shares have fallen as healthy housing finance figures convinced investors the latest interest rate cut could be the last.

Sundance Resources expects to sign up customers by the end of the year as it pins its hopes on producing iron ore in west Africa by 2017.

Home loan approvals continue to rise, showing that low interest rates are working their way into the housing sector.

Global demand for resources will soar by up to 75 per cent over the next 15 years, but Australia is facing fiercer competition from rival nations, the head of BHP Billiton says.

On the eve of the state budget, Premier Colin Barnett has foreshadowed program cuts and "revenue measures" as the once-boom state struggles with lower income.

The coalition's plan to cut company tax will boost jobs, opposition leader Tony Abbott says.

The High Court has upheld Labor's controversial Minerals Resource Rent Tax, rejecting a challenge launched by miner Fortescue Metals Group.

The Australian stock market has opened lower, following falls on Wall Street overnight.

The gold price is expected to improve over the long term thanks to strong demand in China and India, the World Gold Council says.

The Australian dollar has held onto its gains after the Reserve Bank of Australia gave no indication there would be a third interest rate cut this year.