AAP

Santos is sticking with its full year production targets despite suffering a slide in the first quarter.

Australian stocks have opened firmer, as investors defied a negative lead from Wall Street and took advantage of recent declines to get back into the local market.

Rio Tinto chief executive Sam Walsh says the company will focus on divesting non-core assets as it strives to save $US5 billion ($A4.87 billion) through to 2014.

The Australian dollar is lower as gloom about the global economy continues to weigh on stock markets.

US stocks have fallen for a second day in a row amid mixed earnings reports and gloomy sentiment over recent economic indicators.

Market analysts predict Australia's carbon price could crash to less than $3 per tonne when it links with Europe's emissions trading scheme in 2015.

The Australian share market has closed lower, led by sharp losses among the big miners.

Former West Australian MP Adele Carles has told a Perth court she cannot afford a lawyer to represent her in a defamation case brought by her ex-lover, controversial Treasurer Troy Buswel

Iluka Resources is eager for Chinese apartment dwellers to use tiles in their homes, as the company flags further cuts to production.

Wesfarmers' supermarket chain Coles has lifted its quarterly sales by 6.4 per cent despite it having slashed prices for shoppers.

Fortescue Metals Group is confident of meeting its full year production targets after unveiling its latest quarterly results.

Australian stocks have opened lower, with market players getting out of the resources sector and pouring into the big banks.

Australian businesses may be doing it tough, but at least real estate agents are feeling pretty good.

US stocks have closed sharply lower in the wake of disappointing earnings reports and a 5.5 per cent plunge in Apple shares, along with dreary economic sentiment in Europe.

The Australian share market turned positive again after two days of losses, with investors buoyed by strong overseas leads.

Prime Minister Julia Gillard is still hopeful most of the states and territories will sign up to Labor's schools funding reforms this week, despite the reluctance of Queensland and Western Australia.

Premier Colin Barnett says he isn't punishing Woodside for shelving its Browse gas project by casting doubt on its gas leases.

The federal government is expected to review modelling for its carbon tax in the lead-up to the budget, after a vote in the European Union sent the price of CO2 emissions tumbling.

An inquiry into claims of corruption and fraud at Peel Health Campus south of Perth has found no evidence of compromised patient care, but has made eight recommendations to improve its ma

Struggling farmers may be thrown a modest lifeline by the state government, with the premier saying it could help out with bank financing but it won't be assuming any debt on their behalf.

Treasurer Wayne Swan has deflected questions about whether slowing world economic growth will push out budget deficits, saying international forecasts show a "resilient" local economy.

Australian stocks have opened firmer, with the strong start to the trading day underpinned by gains among the big four retail banks and defensive sectors.

BHP Billiton's shares have opened higher after it maintained full year production guidance for key commodities in its latest quarterly report.

Gold snapped higher overnight, reboundinvg a day after the biggest selloff in 30 years amid signs that the lower prices were luring buyers of bullion, coins and jewellery.

US stocks have rallied strongly as investors took Monday's market rout as a buying opportunity.The Dow Jones Industrial Average jumped 157.58 (1.08 per cent) to 14,756.78.

The Australian dollar is trading lower in the wake of falls on global share markets and the Boston bombings.

Australian investors were left confused after $7 billion was wiped off the value of the sharemarket, taking the losses in two days to more than $22 billion. 

Mining giant Rio Tinto says global iron ore production increased to 61 million tonnes in the March quarter, up six per cent on the same period last year.

Cattle producer Australian Agricultural Company will lower the value of its herds, partly because continued dry weather has hit domestic cattle prices.

The Reserve Bank of Australia is ready to push interest rates lower if that's what the economy needs.

The Australian market was lower at open as investors became risk averse in light of the disappointing economic data out of China and the fatal bombings in Boston.

Premier Colin Barnett says the federal government is trying to take over state schools through its proposed funding plan.