AAP

The Australian share market has opened higher amid views that investors over-reacted to Europe's debt problems with heavy sell-offs yesterday.

The twin villains of Australian businesses in recent years - the high dollar and increased household savings - have saved the economy from overheating and spared consumers from outsized price hikes

Kitchen appliance maker Breville has lost a key distribution contract in Canada worth up to five per cent of its revenue.

Former state Labor minister Alannah MacTiernan has stepped back from a statement that the prime minister should be replaced as Labor leader.

US stocks have fallen for a second straight day as the Cyprus banking crisis sent jitters through markets.

The Australian dollar has closed flat, with the currency finding support despite fresh jitters from Europe stemming from a proposed Cyprus deposit levy.

Leighton Contractors has secured a $656 million contract from Hong Kong rail operator MTR Corporation for part of a new rail link in the Chinese province.

 Coal hauler Aurizon's shares shone after a well-timed sell down of its stake by the Queensland government netted it $806 million.

The Australian share market lost two per cent as spooked investors sold off local stocks amid bailout plans for Cyprus.

A bid to halve Sunday penalty rates for workers in the retail, fast food and hospitality industries has been rejected by the national workplace relations tribunal.

Treasurer Wayne Swan believes the challenge for this year's federal budget will be weaker revenues.

Australia's corporate regulator has proposed further rules on trading in dark pools, but described public concerns over high frequency trading as overstated.

Australia is the third most popular investment destination for Chinese companies and funds are being directed not just to mining and resources.

Consumer confidence in Western Australia is on the rise after hitting record lows in the December quarter, a survey shows.

Southern Cross boss Rhys Holleran insists the TV and radio broadcaster has not yet made up its mind on a possible takeover bid from Nine.

The Australian market has fallen by almost 1.5 per cent due to concerns about a bailout of Cyprus and falls on Wall Street.

Hefty credit card surcharges could be on the way out after Visa became the first company to ban Australian retailers from slapping on the fees.

US markets have taken a needed pause after a relentless 10-day run, marked by the Dow setting new records for eight straight sessions.

Western Australia will have a newly sworn-in government at the end of next week after finalisation of results in two knife-edge electoral seats.

The Australian dollar is slightly higher, holding on to the gains made on Thursday after the release of stellar jobs figures.

Seven West Media chief Don Voelte says proposed media law changes are a blunt attempt to impose federal government control over the free press.

The Australian share market bounced back on Friday as traders decided the economy is doing better than a preceding three-day run of losses would suggest.

Gyms, travel agents and car hire companies have been put on notice that they face being sued over contracts that rip off consumers.

Former police minister Rob Johnson has put up his hand for the job of speaker in the new parliament, saying he was previously endorsed for the role by Premier Colin Barnett.

There are still good times ahead for the mining sector, says Australian and UK-listed fund manager Henderson Global Investors.

A union says $50,000 in disability allowances owed by Qantas to 400 workers will be donated to a charity if the airline pays up.

 A Reserve Bank of Australia official says the large surge in employment growth in February will not, by itself, have an impact on the interest rate outlook.

Australian cattle numbers have grown substantially, partly as a result of the federal government's temporary suspension of live cattle exports to Indonesia in mid-2011, says beef producer Australia

The National Broadbank Network has awarded another $334 million of work to Leighton Holdings company Visionstream.

The banks involved in Australia's most expensive and longest-running court case have won the right to take their battle to the High Court.