AAP

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.

 Indigenous Business Australia (IBA) is set to take on a new role, helping native title groups pursue economic development opportunities.

Australia posted a much larger current account deficit in the first three months of 2012, mainly due to a large rise in mining equipment imports.

The majority of Australians oppose government plans to price carbon, new polling reveals.

The federal government has suspended the approval process for the $6.4 billion Alpha coal mine project in Queensland.

Qantas shares have hit an all-time low after the airline forecast a drop of up to 91 per cent in its full year underlying profit.

The Australian share market opened slightly higher, with most sectors posting gains as investors await the Reserve Bank of Australia's (RBA) latest interest rate decision.

Australia needs to learn lessons from countries such as Denmark, Germany and China to develop its clean energy technology industry, a global environmental group says.

US stocks have closed mixed after a day of bumpy trade, as eurozone turmoil kept a shadow over the markets.

Australian shares have closed at a six-month low after being battered by bleak economic data from China, Europe the United States and locally.

Pallet supplier Brambles has aborted the planned sale of its data management business because of a lack of reasonable offers, instead announcing a $448 million capital raising.

The Australian share market plunged 1.75 per cent in opening trade to its lowest level since November after Wall Street suffered its worst day of 2012 and fell into bear market territory.

Export commodity prices fell to a 17-month low in May.

The Australia dollar fell to a fresh six-month low following the release of weaker Chinese manufacturing data but regained some ground later in the day.

More effort needs to be put into luring labour from the eastern states to Western Australia, say some of the nation's top executives.

Australian stocks have closed lower for a third straight session as weak economic data from offshore prompted investors to abandon resources-linked sectors of the market.

Australia needs to open up its northern regions to agricultural expansion or face a potential food shock from Asia, says the chief executive of Australia's biggest beef producer, Australian Agricul

Australia's largest goldminer Newcrest Mining says it would not be further expanding its Australian operations while costs remain high.

The minimum wage increase handed down by Fair Work Australia is a sign of confidence in the Australian economy, Workplace Relations Minister Bill Shorten says.

 Norton Gold Fields is recommending its shareholders accept a friendly $229 million takeover offer from China's biggest gold company.

The West Australian Farmers Federation has called on the state government to impose a moratorium on gas fracking amid concerns about unknown environmental impacts.

Nationals senator Barnaby Joyce is urging the federal government to allow a local company to purchase farming land in northern Australia ahead of Chinese interests.

Veteran MP Max Trenorden has asked the Nationals to expel him from the party, saying he has been treated poorly by its members but doesn't want to be forced to quit.

The Australian share market suffered falls in opening trade, driven by weaker materials stocks, aggressive short selling of the top 50 stocks and a soft lead from Wall Street.