AAP

The operator of a Perth take-away food outlet has been ordered to back-pay an employee who was not paid at all during a three-month probation period.

This week's jump in iron ore prices to 15-month highs delighted investors and politicians hoping that mining revenue would pour in again, but analysts are nervous about Chinese volatility.

Property group Australand's major shareholder is reviewing its investment in the company.

The Australian market had a cautious opening as investors waited for the release of building approval figures to give a clearer picture of consumer sentiment.

US stocks have reversed two days of losses to close higher as cautious investors await fourth-quarter earnings results.

The Australian dollar has opened above 105 US cents after a flat offshore session that offered little direction for the currency.

The Australian market closed higher to end a three day run of losses and defy market falls in the US and Europe overnight.

The Australian market was 0.4 per cent higher mid-morning as weaker than expected retail sales figures failed to dampen local enthusiasm.

The activist at the heart of the Whitehaven Coal hoax says the corporate watchdog has seized his phone and laptop.

The Australian market has opened higher as investors anticipate improved retail sales over the festive season.

Western Power has been charged by the energy watchdog over an incident in Geraldton last year.

The Australian dollar builds on yesterday's gains.

US stocks have fallen for a second day as the fourth-quarter earnings season opens and as confidence slips after big gains.

The Australian market has finished lower in line with overseas leads, as investors locked in profits on the busiest trading day of the year.

Australia is set to post its hottest day on record today after the country reached a new high yesterday. 

A perfect storm of lower commodity prices, a high dollar and strong imports has pushed Australia's trade balance deeper into the red than at any time since the global financial crisis.

The Australian market was higher mid-morning as low interest rates on savings accounts continued to increase investor demand.

Chinese-owned Yancoal Australia has secured $US596 million ($A570 million) in funds from its parent company.

Shares in Macmahon Holdings face pressure after the mining services company denied receiving an offer for its construction business before entering into a sale agreement with its major shareholder

A new survey shows a further decline in Australia's construction industry.

The Australian dollar is higher after the US dollar fell back from its strong gains made last week.

US stocks have closed lower amid profit taking from last week's rally and caution on the eve of the start of corporate earnings season.

The popularity of online shopping has continued its surge among Australians, with online retail sales growing 27 per cent in the year to November 2012.

The corporate watchdog will investigate if any laws were broken when Whitehaven Coal lost more than $276 million in market value after falling victim to a hoax media release.

Australian stocks finished slightly lower as weakness among the major resources companies outweighed optimism in the US.

Australian stocks were slightly higher at noon after positive US economic data led to investor optimism.

 Rare earths miner Lynas expects to be producing finished products from its controversial plant in Malaysia within weeks.

The Australian dollar is a third of a US cent higher after encouraging jobs data from the United States pushed world markets higher.

US stocks closed higher on Friday, with the S&P 500 hitting its highest level in five years, helped by a steady December jobs report and a surprise improvement in a key index for the service se

Macmahon Holdings says an existing agreement to sell its construction operations to Leighton Holdings means it is unable to let an Indian-based bidder conduct due diligence on the assets.

The Australian dollar has fallen to its lowest level in two weeks on concerns about US debt, after a plan to raise taxes for millionaires divided Republicans in Congress.

Treasurer Troy Buswell says his legal team is assessing an offer to settle court action between himself and his former lover, independent MP Adele Carles.