AAP

Qantas Airways is splitting its international and domestic operations into two separate businesses from July.

Australian stocks have opened higher, as market players took their cues from a positive night on Wall Street.

The domestic economy might be still chugging along but small business is missing out on investment opportunities as they worry about the wider global outlook.

The Australian dollar has headed back above 99.00 US cents amid optimism that a new approach to the euro zone government debt crisis will work.

US shares have racked up strong gains with the Nasdaq adding nearly 2.5 per cent helped by an Apple surge, but Facebook shares flipped below their IPO price on their first full day of trading.

Agribusiness and automotive interiors supplier Elders has returned to profitability, boosted by a large tax win.

Industrial emissions are already threatening Western Australia's rock art-rich Burrup Peninsula, where a new $US800 million ($A815.87 million) ammonium nitrate plant will be built, Greens

Building products maker James Hardie fears Australia's soft housing market will be a drag on the company's earnings this year.

The Australian dollar has rebounded to finish back above US98 cents after its recent big falls to the lowest levels in six months.

Australian stocks closed higher, driven by a rebound in resource and finance stocks, as world leaders reaffirmed they wanted beleaguered Greece to remain in the euro zone.

Anti-gas hub protesters have allowed a Woodside Petroleum convoy to pass without incident in the Kimberley, as about 30 police stood guard.

Laboratory group Campbell Brothers' full year profit is up 68 per cent and the company expects more growth in the year ahead, on the back of its strong-performing minerals testing division.

Qantas Airways will axe 500 jobs as it restructures its heavy aircraft maintenance and engineering operations in Queensland and Victoria.

Trade Minister Craig Emerson is to sign a free trade agreement with Malaysia in Kuala Lumpur tomorrow.

The state's environmental watchdog has backed Toro Energy's plan to construct its Wiluna uranium mine in the Mid West.

Disgraced former Firepower boss Tim Johnston is believed to have squirrelled away millions of dollars offshore despite being declared bankrupt after the company's fuel pill scandal.

The Australian share market has started strongly after the 11th worst week on record last week.

Retail spending rose for the ninth straight month in April but it is unclear whether the outlook is favourable.

A dull debut for Facebook, one of the most heavily anticipated public offerings in years, crowned another down week for United States markets as eurozone instability kept fear levels high among inv

The Australian dollar has plunged to its lowest level in almost six months as concern deepens about the euro zone debt crisis.

Prime Minister Julia Gillard says people can have confidence in the Australian economy, as other countries fight high levels of unemployment.

Credit markets are already closing as the euro zone debt crisis continues, ANZ chief executive Mike Smith says.

Treasurer Christian Porter says a broken federal government promise to help fund native title compensation is "the lowest act".

 A dearth of customers and heavy discounting are expected to have kept Myer's sales in the doldrums.

Uranium miner Paladin Energy's mine in Malawi is back at full production following an industrial dispute sparked by demands for a 66 per cent pay rise from local workers.

Australian stocks have sunk to their lowest level this year as investors begin to panic over the crisis in Europe after reports of a run on Spanish banks.

Australian-made Holdens are to make a return to the streets and racetracks of North America with the production of a new Chevrolet SS performance sedan.

US stocks have closed with losses well above one per cent as negative news continued from Europe, with Greece's woes deepening and Spain falling into recession.

The Australian dollar is higher but still below parity, helped by comments that the US Federal Reserve is open to stimulate the American economy.

 Australia should be the world's biggest exporter of liquefied natural gas by the end of the decade, says the vice president of the world's biggest petroleum company.

The Australian share market closed slightly lower as Asian markets rallied and concerns about Greece's future in the euro zone eased temporarily.