AAP

Australian businesses are experiencing another decline in retail spending as fickle consumers hold on to their money after two months of opening their wallets.

The federal opposition has seized on a survey which suggests half of small businesses are already feeling the effects of Labor's carbon tax.

The Australian share market has opened lower, pulled back by several large companies trading ex-dividend.

BlueScope Steel expects its financial performance to improve in the year ahead after posting a $1.04 billion loss in the 12 months to June.The company had forecast the massive deficit.

US stocks racked up their sixth straight weekly gain on Friday, despite a thin diet of news and low market volume, with the Dow hitting its best level since the end of 2007 and the S&P 500 just

Australian shares have finished almost one per cent higher as investors continue to buy into local companies following better than expected earnings results this week.

The Takeovers Panel has declined to make declarations in relation to complaints brought before it by takeover target Alesco Corporation and predator DuluxGroup.

Myer chief executive Bernie Brookes says the traditional big retailers will overcome their reluctance to adapt to the internet by becoming the top 10 shopping sites within five years.

The June quarter national accounts should confirm that reports of the death of productivity have been greatly exaggerated.

Two issues stood out in the central bank's latest quarterly statement, apart from the usual warnings about Europe and China - productivity and the Australian dollar.

A man who jumped the fence of Premier Colin Barnett's home and chained himself to the front gate is being removed by police.

The Department of Treasury has been told mining companies may be forced to use less experienced staff to proceed on a significant pipeline of construction in the sector.

Shares in online movie company Quickflix have risen by more than four per cent on the back of the release of its new movie and TV streaming application for Samsung tablets.

The Australian dollar is higher on comments by German Chancellor Angela Merkel about the role of the European Central Bank (ECB) in the region's debt crisis.

Oil and gas producer Santos has increased its underlying first half profit and maintained its full year production guidance.

The Australian market has opened cautiously higher following gains from markets overnight and amid growing optimism that a eurozone break-up is less likely.

ANZ says its expansion into Asia gives it an advantage over rivals competing in an Australian market where credit growth is set to remain weak.

US stocks have put on solid gains after two flat days helped by fresh employment and housing data and German Chancellor Angela Merkel's supportive comments in Canada for the European Central Bank (

The Australian dollar is higher, trading in a tight range as the market awaits further economic data out of the US and more clues as to whether the US economy will get a helping hand.

The Australian share market closed sharply higher after a string of strong earnings results, with Wesfarmers and AMP among the best performers.

Ivanhoe Australia plans to cut costs by almost $100 million and reduce spending by up to $74 million over the next two years as it tries to improve cash flow and look to joint ventures in volatile

Alumina Ltd has flagged an end to China's control over aluminium prices as it posts a $US14.6 million ($A13.95 million) half year loss.

Equity market operator ASX Ltd has reported a four per cent drop in annual net profit, blaming decreased investor activity arising from Europe's debt crisis.

Building materials provider Adelaide Brighton is optimistic of increasing its full year earnings, despite the challenges facing the residential and commercial property markets.

Damning findings have been made against organisers of the 2011 Kimberley Ultramarathon which left runners suffering horrific burns after a bushfire swept through the race route.

Global miner BHP Billiton has flagged potential job losses at some of its Australian operations as it reins in costs amid falling commodity prices.

Prime Minister Julia Gillard says the federal budget will return to surplus as planned, despite the additional cost of its new asylum seeker measures.

Entrepreneur Dick Smith is calling on federal parliament to support farmers and local manufacturers, including his own food business.

Shares in Brambles have slumped despite the pallet and logistics company unveiling a higher annual profit and flagging stronger revenues in the year ahead.

AMP expects further growth after its $4 billion merger with AXA Asia Pacific contributed to a seven per cent rise in underlying first half profit.