AAP

Caltex Australia has played down the strong turnaround for its refining business that it plans to partially close, after the company posted a big rise in profits.

National Australia Bank chief executive Cameron Clyne says talk of the resource boom being over is premature.

The Australian share market has closed slightly lower as investors wait to see if the United States and China will take further measures to stimulate their economies.

A leading business lobby group has backed fresh calls for a return to individual employment contracts.

Former prime minister John Howard has let the coalition's workplace relations agenda slip out, the Australian Council of Trade Unions says.

Troubled surfwear retailer Billabong believes it can improve its earnings in fiscal 2013 after reporting a $275.6 million loss for 2011/12.

Transport and logistics group Toll Holdings says its priority in the current financial year will be to resolve problems in its business in Japan and its marine shipping operations in Asia.

Atlas Iron expects the price of iron ore to increase over the next two months as China's demand for steel remains strong.

BHP Billiton has sold its Yeelirrie uranium deposit near Wiluna to Canada's Cameco Corporation for $US430 million ($A414 million).

The mining boom - or at least investment in it - will peak in 2014, but the non-resources sector will then drive growth, a report has found.

Australian stocks have opened firmer amid broad-based gains as local market players took their cues from a positive night on Wall Street.

The Australian dollar is slightly higher as the possibility of the US central bank starting a new round of economic stimulus is looking more likely.

US stocks turned lower this week after six straight weekly gains as fresh signs of frailty in the global economy emerged and a number of companies cut their corporate profit forecasts.

The Australian dollar is at it's lowest level in five weeks amid pessimism about the outcome of talks between the Greece, French and German leaders on the weekend.

Central bank governor Glenn Stevens says he doesn't think Australian bank profits are excessive.

The Australian stockmarket closed lower on Friday, also finishing down for the week and ending a run of five weeks of gains.

ANZ chief executive Mike Smith has sold $10.9 million worth of shares to meet an income tax bill and reduce his debt.

Up to a dozen enterprise migration agreements (EMAs) are expected to be inked by the federal government, Special Minister of State Gary Gray says.

Fairfax Media shares have plunged to record lows after the company's biggest shareholder, mining magnate Gina Rinehart, tried to sell a chunk of her shares.

The opposition says the federal government needs to go back to the drawing board on its proposed network of marine parks.

The federal government's Future Fund will pay $2 billion to take a stake in several Australian airports, including Perth.

Automotive Holdings Group says it will be on the look out for more acquisitions in the current year after reporting a hefty jump in full year net profit.

Australian stocks have opened weaker as declines in the mining and energy sectors dragg the broader market lower.

BHP Billiton's decision to shelve two high profile projects has not changed the central bank's upbeat view about the economic outlook.

Woolworths shares slipped today after it posted a 15 per cent fall in full year profit because of its exit from the Dick Smith electronics chain.

The Australian dollar has fallen close to three-quarters of a US cent on weak Chinese data and concerns about the domestic mining industry.

Sharp falls by blue chips Boeing and Hewlett-Packard have helped give US stocks their worst day so far this month, amid more signs of weak growth in major economies.

Prime Minister Julia Gillard says she never personally benefited from a union fund which she helped set up for free, and off the books, when she was a lawyer 17 years ago.

Signs the US Federal Reserve may introduce fresh stimulus measures sooner than expected have pushed the Australian dollar higher.

Transport magnate Lindsay Fox has compared Western Australia's iron ore boom with the eastern states' goldrush of the 1850s.

The world's biggest scrap metal recycler, Sims Metal Management, wants to expand its presence in the Chinese market after gaining a foothold there this year.

The top brass of the Reserve Bank of Australia will face further grillings about scandals involving its note-making companies when they appear before a powerful parliamentary committee.