AAP

Concerns about the global economy have prompted the Australian dollar to fall more than half a US cent, reversing its rally following the Australian reserve bank's decision to keep the official int

US stocks have closed mixed after a key report showed the third straight monthly contraction in the manufacturing sector, a key engine behind the economy's still-sluggish recovery.

The Australian dollar has climbed closer to 103 US cents after the central bank suggested interest rates could remain unchanged for the remainder of the year.

The fare war over Australia's domestic skies appears to be starting to bite at Qantas Airways, new figures suggest.

Australian stocks have slid more than half a per cent, as falls among the big retail banks pushed the broader market lower.

Australian fashion retailer Ojay has gone into administration with store closures and job losses predicted.

The Reserve Bank of Australia has left the cash rate unchanged at 3.5 per cent for the third board meeting in a row.

More mining projects will be deferred as the nation leaves the heady days of the resources boom behind, Qantas chairman Leigh Clifford predicts.

The Business Council of Australia has backed calls by coalition-led state governments for GST revenues to be distributed by the commonwealth according to population.

Western Australia won't hand control of its education system to Canberra and won't be dictated to by the prime minister, Premier Colin Barnett says.

Prime Minister Julia Gillard has urged the mining industry to recruit Australians willing to work on projects rather than bring in temporary skilled migrants.

The head of iron ore miner BC Iron says China's demand for the steel making commodity will pick up again under its next head of government.

Australian shares have opened flat due to a lack of direction from the US after Wall Street was closed for a public holiday.

The Reserve Bank of Australia (RBA) is expected to keep its official interest rate on hold when its board meets later this morning.

Europe's main stock markets have risen amid growing hopes the European Central Bank could unveil a bond-buying program later this week, while investors digested poor manufacturing data.

Petrol prices appear to have topped out after rising sharply over the past few months to a 13-week high, and could ease a little further over the next couple of weeks, Commonwealth Securities says.

The Australian dollar has fallen to a fresh five-week low on concerns about global growth.

The Australian share market has finished slightly higher, as investors positioned themselves ahead of key announcements from overseas.

A fall in company profits for the past three quarters points to a broad-based slowing of the economy in the months ahead.

Hundreds more Darrell Lea workers will lose their jobs after a deal was struck to sell the troubled chocolate maker.

Shipping delays are expected at the commodities port of Geraldton as authorities prepare to shut down operations before a major storm buffets the area.

National Australia Bank shareholders are being urged to join a class action relating to its 2008 heavy losses over toxic US subprime home loans.

Gold miner Newcrest has renewed loans worth a total of $US2.5 billion ($A2.4 billion), extending its repayment dates for up to five years.

The corruption trial of former Western Australian premier Brian Burke has been put on hold pending discussions between defence lawyers and the prosecution.

Qantas should not be written off as it remains a very strong national carrier and is addressing problems with its international service, Tourism Australia boss Andrew McEvoy says.

Job advertisements have fallen for the fifth consecutive month, marking the weakest trend since late 2011.

The Australian dollar has fallen to a fresh six-week low after the release of weaker-than-expected retail data.

Retail spending has slumped as shoppers kept away from department stores in big numbers and the effect of government handouts wore off. 

A private measure of inflation has posted its largest monthly increase in almost 18 months but very little is from the carbon tax.

Australian stocks have opened weaker, as disappointing Chinese economic data and a slew of companies that started trading without a dividend pushed the market lower.

The demand for skilled workers has risen to its highest level in 12 months, but poor consumer and business confidence was slowing the recovery, research shows.

US stock markets got a good bump on Friday from Federal Reserve Chairman Ben Bernanke's much-awaited endorsement of more stimulus action, but still ended lower on a week of lacklustre end-of-summer