AAP

Macmahon Holdings is in line for its largest ever contract, after being named preferred contractor for a $1.8 billion contract with Fortescue Metals Group.

Mining magnate Gina Rinehart has failed in a bid to dismiss the NSW Supreme Court proceedings her three eldest children have taken against her.

Telstra chief executive David Thodey says strategic decisions the company makes in the next two years will determine its future in a dramatically changed telecommunications market.

Billionaire businessman James Packer has dismissed ongoing speculation he could buy back into the Nine Network, which recently escaped going into administration.

A consortium seeking to take over steelmaker Arrium has walked away from the proposal, after Arrium said an increased offer from the consortium was still too low and carried with it too many risks.

The Australian market opened higher following surging European markets and higher commodity prices.

National Australia Bank's full year net profit dropped 22 per cent to $4.08 billion due to millions of dollars in costs from its troubled operations in the United Kingdom.

European stock markets and the euro have rebounded as investors cheer positive company earnings and react to news of thousands of job cuts at Swiss bank UBS, despite a lull in trading caused by the

Shares in mining contractor Macmahon Holdings have been placed in a trading halt as the company prepares to announce the awarding of a new contract.

The Australian market finished slightly higher as the closure of Wall Street due to superstorm Sandy led to subdued local trading.

An appeal by Gina Rinehart's Hancock Prospecting over the big Rhodes Ridge iron-ore project in Western Australia has been dismissed but the company has indicated it will contest certain court order

Premier Colin Barnett was not amused by the gift of a train shaped cake from union officials to welcome him to his refurbished $26 million offices in Perth.

The threat of Asian geckos hitchhiking on ships bound for the $43 billion Gorgon gas project on Barrow Island has prompted scientists to develop an early warning system that sends a text if th

Foreign Minister Bob Carr says it may take some time to resolve the case of an Australian lawyer prevented from leaving Mongolia.

Further environmental protection conditions will be imposed on Woodside Petroleum's proposed $30 billion Kimberley gas hub following an investigation into appeals against a report supporting the pr

BHP Billiton expects its Queensland coking coal production capacity to grow by 50 per cent by the end of 2014.

Casino operator Crown wants to make Perth a major gateway for mass-market Chinese gamblers following the success of casino hotspot Singapore.

The state government has defended its selection of a South Korean associated company to build an artificial reef at Geographe Bay in the state's south.

Treasurer Wayne Swan expects a change of leadership in China will bring both new challenges and opportunities over the next six months.

Commonwealth Bank chairman David Turner says the bank expects demand for credit to remain subdued this financial year amid economic uncertainty around the world.

Virgin Australia has made a $98.7 million takeover offer for regional carrier Skywest.

The Australian market has opened marginally higher amid quiet trading with Wall Street closed because of Hurricane Sandy.

Woodside Petroleum has signed a preliminary agreement with the Japan Bank for International Cooperation to help finance future liquefied natural gas projects.

US stock markets are closed as Hurricane Sandy nears landfall on the heavily populated east coast and parts of New York City's financial district were evacuated.

Asbestos found in the roof at Fremantle's major police station has forced officers to relocate.

The Australian dollar has been boosted by better than expected US economic growth figures that helped turn around market sentiment.

Agribusiness and automotive interiors supplier Elders wants to sell its biggest business unit, its rural services business, before someone tries to take it over.

Prime Minister Julia Gillard has avoided opposition calls to directly guarantee there will be a budget surplus this financial year.

The Australian share market closed a touch higher as investors sold off shares ahead of some major annual general meetings this week.

Ramelius Resources expects to reach full production at its flagship Mt Magnet operation by the end of the year after boosting gold production by 15 per cent in the quarter.

A new species of lizard has been discovered in sand dunes outside Perth but scientists fear it faces extinction with urban sprawl rapidly closing in.

Greed triumphed over diligence when investors were promised unachievable returns by the now collapsed agribusiness group Great Southern, a court has heard.