AAP

Supermarket giant Woolworths has raised concerns in the dairy industry with a plan to deal directly with a group of farmers to secure milk supplies.

The Australian share market closed almost one per cent higher as investors took their cues from positive news in the US.

Federal Opposition Leader Tony Abbott's plan to roll back the carbon tax will put the budget's bottom line under pressure, an investment banker says.

Prime Minister Julia Gillard has left open the possibility the federal government will raid wealthy people's superannuation tax concessions in the May budget.

In its role as overseer of financial stability, it's the Reserve Bank of Australia's job to keep a sharp eye out for things that could go wrong.

Qantas and Emirates have been given the green light to form a global alliance, albeit with special conditions for flights across the Tasman.

Australian stocks have opened firmer, with a recovery among the big miners leading the broader market higher.

The peak union body has called for a $30-a-week pay rise for Australia's lowest-paid workers.

Virgin Australia has received approval from the High Court of Singapore for its purchase of Skywest Airlines.

US stocks surged higher on Tuesday as favourable sentiment towards equities more than compensated for a mixed bag of economic indicators.

The Australian dollar is slightly higher as uncertainty in the euro zone helped support the local currency.

Superannuation Minister Bill Shorten says people's retirement nest eggs should be "above politics", but the opposition continues to press the government to reveal what changes it intends to make to

Changes to global bank regulations have been more difficult than anticipated, with only Australia and 10 other jurisdictions so far adopting key parts of the reforms.

Premier Colin Barnett is talking "nonsense" in claiming Gonski education reforms are a power grab by Canberra, Prime Minister Julia Gillard says.

The Australian share market has closed lower as markets worldwide were spooked by comments by the Dutch finance minister over the Cyprus bailout.

Wharfies at Fremantle have refused to work on a vessel that doesn't comply with minimum safety standards and say their employer Patrick has responded with "standover tactics".

The federal government is not surprised by another slump in Labor support after what Prime Minister Julia Gillard described as an appalling week for the party.

Engineering and property services provider UGL is reviewing its corporate structure now that the property business generates nearly 50 per cent of group earnings.

Cash Converters has obtained $60 million from Westpac Bank that the second hand dealer and short-term loan provider will use to grow its personal loan book.

The Australian share market has opened lower over renewed jitters about the euro zone, following a bailout deal for Cyprus.

New resources minister Gary Gray has ruled out any changes to federal Labor's controversial mining tax.

US stocks have tumbled after a top European finance official suggested the Cyprus bailout framework could serve as a template for other European bank crises.

The federal government is seeking feedback from business on its plan to make company tax payments monthly instead of quarterly.

The federal opposition has demanded the government deliver an "honest budget" on May 14, rather than its usual "fudges" and "money shuffling".

Hundreds of journalists have pledged support for a Fairfax reporter facing court action by billionaire Gina Rinehart to reveal sources for an unauthorised biography about her.

Petrol could be up to three cents a litre cheaper in the next few weeks, an economist says.

Australian stocks closed higher led by the major banks as Cyprus struck a bailout deadline-day deal with the European Central Bank.

The West Australian government should open up competition in the electricity market for small customers and let providers decide whether it's financially viable, the Economic Regulation Authority (

Animal welfare protesters calling for a halt to live exports and exporters angry over new supply chain checks will rally outside a community cabinet meeting in Perth.

Australia's energy players are looking at offshore gas processing to ensure resources such as the Browse and Scarborough fields are exploited in the near future.

Some 150 construction workers have walked off the job at the Mundaring Water Treatment site after a near miss with a runaway truck.

Gary Gray's appointment to the important resources portfolio has got the nod of approval from the sector.