AAP

Workplace Relations Minister Bill Shorten is undermining the independence of Fair Work Australia by opposing cuts in penalty rates for weekend work, the coalition says.

Shadow treasurer Joe Hockey predicts federal tax revenue has fallen by between $20 billion and $25 billion since the budget due to softening commodity prices and a decline in corporate tax.

Some fire management staff at Western Australia's Department of Environment and Conservation are working more than 28 days in a row when a blaze breaks out, a union claims.

Federal Resources Minister Martin Ferguson has warned there may be more east coast mine closures as global commodity prices soften and mining royalties rise.

Deputy Prime Minister Wayne Swan says the coalition is "splintering" under Tony Abbott's leadership and Labor has "some wind at its back".

Two Leighton subsidiaries have won new contracts worth a total of $437 million.

Mining companies should pay to offset the damage their developments cause to the nation's coastal environment, the federal government says.

Homeowners may be in for an early Christmas present, with the Reserve Bank of Australia expected to deliver at least one more interest rate cut before the end of 2012.

Australian stocks have opened weaker, with resources-related companies leading the broader market lower.

The Australian dollar is half a US cent lower, following sharp falls in commidity prices.At 0700 AEST, the local unit was trading at 104.76 US cents, down from 105.24 cents yesterday.

US stocks have closed lower in the aftermath of the Federal Reserve's new QE3 stimulus rally amid concerns about weakness in US manufacturing and anti-American unrest in the Middle East.

Brazilian authorities say they are fining US oil firm Chevron $US17.5 million ($A16.64 million), and likely will impose further penalties, over a major spill off Rio de Janeiro state last year.

The Australian dollar has fallen back more than half a US cent on profit-taking following last week's rally.

Qantas Airways and South African Airways have been granted a two-year extension on their code-share alliance on flights between Sydney and Johannesburg.

The Australian share market has closed at its highest level since May, as investors were encouraged by separate moves to stimulate the US economy and keep the bailout of the debt-ridden euro zone o

Car yards sold more new vehicles in August than ever before.

Surfwear brand Rip Curl is investigating approaches to invest in the company from several international organisations.

The banks involved in Australia's most expensive and longest-running court case are seeking to take their battle to the High Court.

The carbon tax is not totally to blame for higher electricity prices, gas and electricity supplier AGL Energy says as it calls for the deregulation of what consumers are charged.

Northern Iron has cut jobs and suspended its exploration program to help offset the effects of falling iron ore prices.

 Federal Labor continues to make gains on the coalition in two new opinion polls, as anger over the carbon tax wanes and state budget cuts rebound on Opposition Leader Tony Abbott.

Macmahon Holdings is poised to cut its earnings guidance, only a month after the mining services and construction group forecast 20 per cent profit growth for fiscal 2013.

Australian stocks have opened marginally firmer, with strong gains among resources-related companies offset by weakness in defensive market sectors such as healthcare and utilities.

Gold futures have eked out a new six-month high as optimism for demand remained strong in the wake of the US Federal Reserve's newest monetary-easing initiative.

A Chinese government office is forecasting economic growth of between 7.7 and 7.8 per cent for the year in a sign of an expected improvement in prospects for the world's second-largest economy.

The Federal Reserve's open-ended QE3 has pulled US stocks out of their slumber and into a two-day rally, taking indices to new multi-year highs.

The Australian dollar has surged to its highest level in a month after the US Federal Reserve announced a renewed program to give the flagging American economy a boost.

Fortescue Metals Group has had a High Court win that opens the way for a further review of its access to Pilbara rail lines owned by mining giants BHP Billiton and Rio Tinto.

Productivity Commission chairman Gary Banks will retire from his position in December, federal Treasurer Wayne Swan says.

Australian shares finished at a four-and-a-half-month high, after the announcement of fresh US Federal Reserve economic stimulus measures buoyed investor confidence.

Shareholders could lose their once-a-year opportunity to mingle with the company directors, if the government's corporate law adviser has its way and scraps annual general meetings.