AAP

Woolworths has overcome tough trading conditions in the retail sector to lift its sales by 4.7 per cent to $56.7 billion in the 2012 financial year.

The Australian share market has opened almost one per cent lower amid renewed worries over government debt in Europe re-emerge.

Western Australia remains by far the nation's strongest state on most economic valuations, and even its weakest parts outstrip many other jurisdictions, CommSec says.

The Australian dollar has fallen back, as concerns around the euro zone return to the market.

The Australian dollar is trading close to its three-month highs but it looks as if it is running out of steam after a week-long rally.

Economists at the nation's biggest home lender, the Commonwealth Bank of Australia (CBA), still expect an interest rate cut next month ahead of a likely benign inflation result on Wednesday.

The Australian sharemarket has closed slightly lower as investors took profits on stocks that rose steadily during the week.

Virgin Australia's boss has joined its new financial backers Etihad Airways in attacking Qantas over its campaign against the Middle Eastern airline's investment.

Perth has been praised in a federal government report for managing to make rail an attractive alternative to roads.

The chief executive of up-for-sale poultry business Inghams says there is interest in the family-owned company from Australian buyers but there is no certainty they will be able to compete with for

Asciano has struck a fresh deal with Bluescope Steel and Arrium to continue providing them with rail linehaul services across Australia.

Recent rate cuts and household stimulus have helped economy-wide spending rise for the sixth consecutive month in June.

Foreign trade price figures suggest the terms of trade, a key indicator for the Australian economy, have stayed in negative territory.

Darrell Lea's administrators say they are in talks with 90 local and international parties interested in buying the troubled chocolate business.

Broadcaster Ten Network Holdings has agreed to sell its outdoor advertising business, Eye Corp, to Outdoor Media Operations (OMO) for up to $145 million.

A new $33 million supercomputer bound for Perth will help scientists around the world to uncover the secrets of the universe, Minister for Science and Research Chris Evans says.

Hastings Diversified Utilities Fund's (HDF) investors are still being urged to reject a takeover offer from APA Group, despite the competition watchdog giving the green light to the deal.

The Australian share market has opened lower, despite a positive lead from Wall Street.

The surge in the number of people accessing the state government's Hardship Utilities Grants Scheme could be just the tip of the iceberg, the opposition says.

US stocks notched gains for a third straight day as investors looked past disappointing economic data to a batch of positive corporate earnings reports.

Traditional retailers will get a better idea of their competition when official data on online sales starts being published next year.

The Australian share market closed at a two-month high, boosted by good production reports from oil and gas producers Woodside Petroleum and Santos.

Etihad Airways says it has received the all clear to double its stake in Virgin Australia to 10 per cent.

Perth-based iron ore explorer Equamineral Holdings has been admitted to the ASX after completing a $2.5 million initial public offering.

Shares in oil and gas producer Santos have shot up by more than two per cent after it released higher quarterly production and sales revenue results.

Federal Skills Minister Chris Evans says low-skilled jobs are disappearing from the economy and the workforce will need to adapt quickly.

The Australian dollar has hit a fresh all-time high against the European currency, fuelled by a disparity between the two economies and monetary policy.

Federal Treasurer Wayne Swan concedes falling iron ore prices could hit the revenue raised through the mineral resources rent tax (MRRT).

The timeline for the state's planned first uranium mine has slipped following a rigorous environmental assessment phase.

Woodside Petroleum has increased its full year production target after enjoying a 43 per cent surge in the second quarter.

Australian business conditions weakened in the three months to June, according to a private survey.

Shares in Seven West Media have fallen nearly five per cent after coming out of a trading halt.At 1058 AEST, Seven West Media was 7.505 cents, or 4.94 per cent, lower at $1.445.