AAP

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.

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.