AAP

The Australian dollar is slightly lower after peaking at a two-week high, following the release of weak Chinese and Australian manufacturing data.

Arrium is considering selling or dumping businesses in its loss-making steel division, raising the prospect of more heavy job cuts.

The Australian stock market has closed lower, with weakness among the major miners helping snap a two-day rally.

Qantas has pulled back the number of seats in the domestic market for a second consecutive month.

Premier Colin Barnett has outlined three reasons the government wants to push ahead with acquiring land at James Price Point, despite Woodside shelving its original plan for the Browse gas project.

Australia's biggest telco, Telstra, has maintained its full-year earnings guidance and is aiming to lift dividends over time.

Premier Colin Barnett has again baulked at signing up to the national disability care scheme, saying the increased Medicare levy is the "easy" part of funding the plan.

Perth’s housing recovery has hit a stumbling block, with prices dropping in April and new home sales declining in March, but analysts are describing the falls as a temporary blip.

Australian stocks have started the month weaker, with investors appearing to book profits after the market hit a fresh five-year high yesterday.

A cocktail of negative factors has left many Western Australian farmers worried about the coming season, according to new survey results.

The Australian dollar has reached its highest level in two weeks amid gains on share markets and disappointing US manufacturing figures.

US stocks have risen amid solid data on housing and consumer confidence and as reports of a $US17 billion ($A16.5 billion) Apple bond sale cheered investors.

Australian stocks have closed higher as ANZ's $3 billion plus half-year profit dragged its shares to record highs and the local market along for the ride.

Diversified miner Rio Tinto has opened its $US2.2 billion Argyle underground diamond mine in the eastern Kimberley.

Service quality at the increasingly busy Perth Airport has fallen along with prices, says the Australian Competition and Consumer Commission.

Finance Minister Penny Wong has indicated the government is considering imposing a levy to fund its national disability insurance scheme.

Australian stocks have opened firmer, with the big retail banks leading the broader market higher.

ANZ Bank has posted a first half profit slightly above expectations, and increased its dividend.

The Australian dollar has rallied to its highest level in 11 days following gains on global share markets.

The S&P 500 has closed at a fresh record high amid renewed confidence in the eurozone after the formation of the Italian government.

The Australian dollar has closed firmer, pushing above 103 US cents and moving in line with the rising price of gold.

Oil and gas producer Santos has committed to a $100 million drilling and appraisal program over the next 12 months in the Northern Territory.

Claims of 457 visa rorts are just a desperate attempt by the federal government to draw attention away from its border protection failures, the opposition says.

Australian shares closed on a positive note as the four major banks lifted the market.

Leading Australian economist Ross Garnaut has told a Senate committee that the mining tax is highly flawed and may never raise any revenue in its current form.

The share price of minerals explorer Aquila Resources took a hit after its Japanese joint venture partner pulled out of some of its Queensland coal exploration permits.

Low income earners in Perth are battling harder to find homes to rent, new research by Anglicare shows.

BHP Billiton has sold a copper mine in the US for $US650 million ($A634 million) as the resources giant continues to off-load assets.

The Australian market has opened higher, led by gains for the four major banks.

Prime Minister Julia Gillard says the May budget will be more about the economic challenges facing the nation, rather than the upcoming federal election.

Only one out of every two private businesses in Australia intends to hire staff over the next six months, according to a survey by financial advisory firm PwC.