AAP

The Australian market has opened firmer as Wall Street rallied to fresh five-year highs.

Debt won't fall to levels seen under the previous state government while big developments continue in the state, Premier Colin Barnett says.

Seven West Media has posted a loss of $109.3 million for the first half of the financial year because of restructure costs and the lower value of its magazines.

US stocks pushed higher on Tuesday, sending the Dow Jones Industrial Average and the S&P 500 to their best levels in more than five years.

Perth waste management company Tox Free has been fined $50,000 after an explosion left an employee with burns and needing surgery on his wrist.

The Australian dollar is higher against its US counterpart after the greenback sold off against most major currencies during the local session.

Mount Gibson Iron says the sharp drop in iron ore prices last year that forced it to strip out costs means it is well positioned now that the market has recovered.

The Australian share market has closed at its highest level in more than four years, with reporting season delivering mostly positive results.

Australian businesses need to loosen the purse strings and start spending again, a prominent bank economist says.

The Australian Greens have accused Labor of putting the interests of big miners ahead of the national interest and the environment.

The Liberal Party has pledged $30 million over four years for health and medical research in their latest state election announcement.

Reserve Bank of Australia board member Heather Ridout says a federal government plan to fund a work-boosting program for manufacturers by scrapping business tax concessions could hurt foreign inves

Industrial action by Western Australian nurses is "irresponsible", and seriously damaging care in major hospitals, the state's health boss argues.

One of Australia's biggest unions is to campaign for a national domestic gas reserve to make energy cheaper, boost manufacturing jobs and produce cleaner energy.

Engineering services company Calibre has lifted its first half profit by 12.3 per cent due on the back of continued new contract success. 

The Reserve Bank of Australia is waiting to see how recent interest rate cuts flow through the economy before deciding if it needs to cut the cash rate further in 2013.

Unions will try to repeat the success of the labour movement's Your Rights at Work campaign in the lead-up to this year's federal election.

Beverage company Coca-Cola Amatil's annual profit has fallen by 22 per cent as it deals with weak consumer spending and the high Australian dollar.

The Australian market has opened slightly lower as investors remain cautious ahead of Italy's general election.

Shares in Transfield Services have dived by more than six per cent after it warned it would have to make up to $285 million in asset writedowns.

 Ports and rail operator Asciano has increased its first half profit by 74 per cent and forecast more earnings growth in the second half of the financial year.

Steel and mining group Arrium has fallen further into the red as the high Australian dollar and weak construction markets cause a massive writedown on its assets.

Shares in engineering construction firm Monadelphous have tumbled despite the group posting a record first half profit.

The Australian Greens will push for another inquiry into the mining tax to try to work out why the big resource giants aren't paying as much as expected.

 Gold has moved lower, with volumes easing as US markets closed for the President's Day holiday, while a lower euro and flat European shares also hurt investor interest.

The Australian dollar is more than half a US cent lower after a meeting of G20 finance ministers helped fuel a continued sell-off in the Japanese yen.

Car parts retailer and logistics group Automotive Holdings has lifted its first half profit by a quarter and predicted a solid finish to the financial year.

The Australian share market has closed higher, led by the major banks.

Western Australia's financial ratings outlook remains negative, because of the boom state's mounting debt, as it spends big on infrastructure for a growing population and resources sector.

Australian small businesses face tough conditions and finished 2012 on a pessimistic note despite a series of interest rate cuts.

Union boss Paul Howes says Australia does not have a carbon tax - it has a fixed price on carbon.