AAP

The Australian shares are higher despite falls on Wall Street and European markets overnight.

Treasurer Wayne Swan says the latest assessment by the International Monetary Fund (IMF) shows how strong Australia's economic fundamentals are compared with the rest of the advanced world.

US stocks have closed lower after an unexpected fall in retail sales in June, the third consecutive drop that fuelled concerns about the strength of consumer spending, a key driver of the economy.

The Australian dollar is half a US cent higher thanks to higher commodity prices and some relief over the Chinese economy.

Prime Minister Julia Gillard has accused Premier Colin Barnett of trying to fool the public about the impact of the carbon tax.

 The Australian share market finished higher, with investors feeling more confident about taking risks following positive Chinese economic data last week.

Seven West Media says it is still interested in gaining the television rights to at least some National Rugby League games, but only if the price is right.

Motorists are set to pay up to five cents a litre more for unleaded petrol in the next fortnight as global oil prices rise on a more stable outlook for the world economy, an economist says.

Prime Minister Julia Gillard says she understands the state government's push to protect beach goers from sharks.

 Beef producer Australian Agricultural Company (AACo) has reached a tentative agreement with Western Australia's Bunuba people to manage the Leopold and Fairfield cattle stations in the Kimber

Westpac Banking Corporation is raising $500 million through the issue of subordinated notes.Westpac said the notes would be offered at an issue price of $100 each.

The Australian share market has opened almost one per cent higher as investors snapped up resources stocks following commodity price rises and gains on Wall Street.

Seven West Media has renewed its faith in its print media assets and expects an eventual turnaround in the moribund advertising market as it taps shareholders for $440 million.

Iluka Resources managing director David Robb has defended his decision to surprise the market with a sales downgrade and dire short-term outlook for the global economy.

The Australian dollar is higher, with the market relieved over China growth figures.

US stocks broke a six-day losing streak on Friday, helped by better-than-feared JPMorgan Chase results that bared a $US5.8 billion ($A5.7 billion) loss on its bungled London derivatives trading ope

The Australian dollar fell in late trade, unable to hang on to the early gains it made in response to China's latest economic growth figures.

Australia blew the last mining boom and can no longer rely on high commodities prices, federal Resources Minister Martin Ferguson says, as China's economy continues to slow.

The Australian share market finished higher after China reported economic growth had slowed to a more sustainable pace.

China's latest economic data should be welcomed by Australian businesses, as the Asian giant appears to have reined in growth to a more sustainable pace.

Qantas has for the first time been trumped by Virgin Australia in the annual global airline rankings.

Hundreds of companies hoping to win contracts on Gina Rinehart's Roy Hill iron ore project were clamouring to hear how they could improve their chances during recent roadshows.

Energy company AWE has publicly attacked its far bigger joint venture partner Origin Energy after the latest cost blow-out at the troubled gas project in Bass Strait.

Pipeline Partners Australia looks set to succeed in its $1.23 billion takeover bid for energy infrastructure investor Hastings Diversified Utilities Fund (HDF).

Former Liberal MP Bernie Masters says he will run against Treasurer Troy Buswell in the March state election because past indiscretions make him unfit to sit in parliament.

Australian Infrastructure Fund (AIX) says that passenger growth at its portfolio of airports grew by 1.3 per cent in May compared with the same month a year earlier.

Greedy resource companies are lying about the need to import foreign workers into Australia, outspoken federal independent MP Bob Katter says.

The federal government insists the GST does not apply to its carbon tax, warning action would be taken against businesses that claimed otherwise.

The Australian share market has opened flat in anticipation of a slew of economic data from China.

Britain is a champion of energy efficiency while the United States and Canada lag behind in conserving power, according to a new report.

The Australian dollar has pulled back a bit after dropping to its lowest level in two weeks overnight ahead of the release of key Chinese economic data.

The Nasdaq stock index led Wall Street lower Thursday, as traders shrugged off data showing US unemployment claims fell to their lowest level since March 2008.