AAP

The Australian dollar is trading back down from its previous highs, based on global banking activity.

US stocks have closed mixed after China lowered interest rates to spur its slowing economy, while Federal Reserve Chairman Ben Bernanke dented stimulus hopes for the United States.

The Australian dollar has continued its upwards march back towards parity with its US counterpart following unexpectedly strong domestic employment data.

A fall in the number of strikes in Australia proves the Fair Work Act does not need to be overhauled, according to a union.

Australian shares finished stronger for the third consecutive day amid renewed optimism about Europe's ability to avert a financial disaster in Spain.

Woodside Petroleum will soon learn if it has to down tools on its proposed $30 billion Kimberley gas hub due to a legal challenge.

Independent MP Janet Woollard has agreed to pay $250,000 to settle boat-crash victim Kate Campbell's civil action against her son, Luke.

Former Greens leader and outgoing senator Bob Brown has compared the fight over a proposed $30 billion Kimberley gas hub with his successful Franklin River dam campaign.

Indonesia's appetite for beef continues to rise and should lead to a recovery in live imports from Australian producers, a leading agribusiness firm says.

Oil company Shell will close a Sydney refinery in September, creating uncertainty for up to 275 employees and at least 100 contractors.

Australia's unemployment rose to 5.1 per cent in May, official figures show, while Western Australia’s jobless rate was steady at a nation-low 3.8 per cent.

Australian building activity has contracted for its 24th consecutive month, based on weak commercial activity and new orders, a private study has found.

Australian stocks have opened more than one per cent higher as investors make up for Monday's big losses with renewed confidence in global markets.

The Business Council of Australia has warned the nation's unprecedented pipeline of investment is at risk because of high costs and low productivity.

US stocks jumped more than 2.3 per cent Wednesday after the European Central Bank said it would keep open its unlimited liquidity loans for eurozone banks at least through 2012.

The Australian dollar rose to its highest level against its American counterpart in more than two weeks following better than expected domestic growth data.

Prime Minister Julia Gillard says Australia's best economic growth figures in almost five years prove the "doomsayers and sceptics" wrong.

Australian stocks have closed higher for a second straight day despite giving up early gains after a closer inspection of the latest economic growth figures.

The state Liberal Party is eyeing independent MP Janet Woollard's seat amid controversy over her treatment of a young woman who was almost killed in a boat crash by the MP's drunken son.

Better than expected gross domestic product (GDP) figures could help push the Australian dollar toward 99 US cents, with the currency half a cent higher at noon.

Australian March quarter economic growth was much stronger than expected, helped by strong household consumption and continuing strong business investment especially in the mining sector.

The Queensland government has warned a squabble with Canberra over environmental approval for the $6.4 billion Alpha coal mine project could continue indefinitely.

 Treasurer Wayne Swan does not believe the major banks when they say they can't afford to pass on the latest official interest rate cut.

The Australian share market made modest gains in opening trade thanks to a positive lead from Wall Street and as investors await more developments in Europe's debt crisis.

Finance Minister Penny Wong has acknowledged concerns that economic events overseas are affecting the spending habits of Australian households.

Ten Network is raising $200 million to strengthen its balance sheet through the offer of new shares to existing shareholders.

US stocks have managed to eke out moderate gains in choppy trade as investors weighed stronger-than-expected growth in the crucial services sector and Europe's long-running financial crisis.

Etihad Airways has bought a 3.96 per cent stake in Virgin Australia.

The Australian dollar is more than one US cent higher after the central bank delivered a smaller than expected interest rate cut and G7 finance ministers called an emergency meeting on Europe's deb

Australian shares closed higher, clawing back a large part of Monday's losses, after the central bank cut official interest rates to their lowest level since the global financial crisis.

Rail freight company QR National has announced that it plans to cut 500 jobs.The redundancies are part of what it is calling its restructure and reform program which it began last year.