AAP

The Australian market has closed higher propelled by climbing Rio Tinto shares after its chief Tom Albanese resigned in the wake of the miner's billion worth of write downs.

Fund managers controlling high proportions of Australians' savings have shifted large amounts of money out of cash and bonds and into the share market in recent months.

The Australian market is higher as news of Rio Tinto chief Tom Albanese's resignation drives up mining stocks.

The Australian dollar has opened higher after some positive US economic data and a rally on global equity markets lifted demand for the currency.

US stocks have closed solidly higher after US data pointed to an improving employment and housing picture.

News Limited has agreed to sell its online business directory TrueLocal to Telstra's advertising and directories arm Sensis.

Paladin Energy's efforts to make its operations more efficient has put the uranium miner in a good position to meet its full year production forecast.

Australian shares have closed at a fresh 19-month high as firming expectations of a February interest rate cut helped banking stocks.

Treasurer Wayne Swan is on his way to the United States for a meeting with Federal Reserve officials to discuss the state of the world economy.

Mineral sands miner Iluka will cut production resulting in job losses after tough trading conditions led to a loss of nearly one-third in revenue in 2012 compared to the previous year.

Santos's production costs blew out by up to $50 million in 2012, highlighting the risks to its massive Queensland Gladstone liquefied natural gas (LNG) project.

Travellers will soon know how much it will cost to fly on a combined Qantas-Emirates network after the alliance received interim authorisation from the competition watchdog.

Woodside Petroleum has achieved a record 2012 production result and hopes to do even better this year as it develops more projects overseas.

Australian shares have opened flat as traders wait to see if the market surpasses a 19-month high reached after the New Year.

A Leighton Holdings subsidiary will carry out work to prepare Telstra's pits and pipes in two states for the national broadband network (NBN), in a deal worth $90 million.

The Australian dollar has opened marginally higher ahead of the release of domestic jobs data.

US stocks have turned in a mixed performance, as Boeing's latest aircraft problem overshadowed strong earnings from leading banks.

Australian shares closed half a per cent higher, buoyed by the big banks and a major restructure by Boral, one of the nation's biggest manufacturers.

Federal and state authorities would be "nuts" to allow Woodside to replace the gas hub proposed for James Price Point with a floating processing plant, Western Australia's Premier Colin Barnett has

The owners of Australia's dominant supermarket chains are fighting for supremacy among the world's largest retailers after Wesfarmers joined rival Woolworths in the world's top 20.

Up to 300 jobs are at risk across Australia after Vodafone announced it would shut down its Crazy John's mobile phone operation.

Australian shares have opened flat despite expectations of more interest rate cuts boosting banking stocks.

Australian consumers started the new year with little enthusiasm as concern about the family budget outweighed positive sentiment about the state of the economy.

Less than 10 per cent of jobs Boral will slash will come from Western Australia as the building products maker targets reduced costs and increasing competitiveness in a company-wide restructure.

US stocks have closed mixed after the government reported better-than-expected retail sales in December.

The Australian market closed marginally lower after investors decided to reap their profits later in the day.

One of the country's largest investors has backed the two-strike rule for executive pay, saying it has given shareholders greater sway.

Rio Tinto has signalled that predictions of falls in iron ore prices hold no fear for it as it posts record annual production, and says its massive expansion plans are on track.

Australian shares were slightly higher mid-morning amid directionless trading after mixed overseas leads.

Federal Reserve chairman Ben Bernanke says it is important that Congress raise America's borrowing limit before the Treasury runs out of manoeuvring room to avoid a potential default on US debt.

Shares in Billabong surged 13 per cent when they resumed trading after the troubled retailer received its sixth takeover bid in less than six months.

The federal government is resisting pressure to reveal how much it is receiving from the minerals resource rent tax.