AAP

Prime Minister Julia Gillard has challenged state Treasurer Christian Porter to step down if he can't balance his state's books with $800 million less GST revenue.

Prime Minister Julia Gillard has accused mining magnate Andrew Forrest of peddling "rehashed old nonsense" about finalising an agreement with Kevin Rudd on a revised mining tax deal in 2010.

The Bank of Queensland has outlined it much-anticipated turnaround plan after posting a $90.6 million first half loss.

Funding cuts to the state Department of Corrective Services will put the community further at risk because prisons are already overcrowded, the Prison Officers' Union says.

Prime Minister Julia Gillard says the government remains determined to deliver a surplus and has rejected comments from former Commonwealth Bank head Ralph Norris that such a goal is "mindless".

The builder of the national broadband network says its satellite launch plans are on course after a United Nations agency confirmed its procedures are correct.

Opposition communications spokesman Malcolm Turnbull says the high cost of building the national broadband network is likely to lead to increased prices for internet services.

Western Australia should get its full share of the infrastructure funding due to come out of the federal government's mining tax revenue, state Opposition Leader Mark McGowan says.

Nickel miner Mincor Resources has reported a lift in third quarter output and says it is on track to meet its full year production targets.

Shares in Grange Resources rose after the iron ore pellet producer reported an improvement in first quarter production from its Savage River mine in Tasmania.

 Japan's Chubu Electric Power Company has inked a non-binding deal with Chevron to buy liquefied natural gas (LNG) from the US energy giant's Wheatstone project.

The Australian economy continues to perform weakly, an industry study has found.

 About 40 per cent of Australian businesses are finding it difficult to recruit staff despite the subdued labor market, research shows.

Perseus Mining says it is on track to deliver on its gold production targets for the June quarter.

Federal Opposition Leader Tony Abbott says another downgrade of Australia's economic growth rate by the International Monetary Fund (IMF) shows the local economy is "underperforming".

 Australian stocks have opened more than one per cent higher after a successful Spanish bond auction eased concerns over the euro zone debt crisis.

US shares have surged, led by a huge jump from Apple as several positive earnings surprises and the IMF's improved outlook for world growth inspired buyers.

Rudd's secret mining tax deal – The Fin; PM's swipe at Barnett – The West; Diggers fear new burden – The Fin; Alinta tests Barnett's gas-pricing resolve – The West; Chevron secures 20-year Wheatstone gas export deal with Japan – The Aus

Fortescue Metals Group founder Andrew Forrest says the government needs to build a deeper relationship with China otherwise Australia risks losing opportunities with the Asian superpower.

The Australian share market has closed slightly lower, following falls in resource stocks.

 Greedy landlords, including the state government, are forcing housing and living costs up across the state's resource-rich regions, harming productivity, iron-ore miner Fortescue Metals Group

The most pressing problem vexing chief executives is how to keep young employees, a national organisation for senior-most managers says.

Rio Tinto's lucrative copper unit has taken a hit, booking an 18 per cent slide in first quarter output, but the mining giant's cash-cow commodity, iron ore, once again has come to the rescue.

Rio Tinto will spend more than $300 million renewing and expanding the town of Wickham to support its iron ore production expansion.

 Next week's March quarter inflation figures are building up to be a crucial set of numbers for borrowers hoping for another official interest rate cut by the central bank.

Treasurer Wayne Swan has described the appointment of Jim Yong Kim as next president of the World Bank as an excellent addition for the development agency.

Australian stocks have opened higher, led by strong gains in the healthcare and info tech sectors in quiet trading conditions.

Private equity firm KKR will benefit from economies of scale if it buys diamond assets being offloaded by mining giants BHP Billiton and Rio Tinto, an analyst says.

US stocks have traded mixed as investors weighed better-than-expected March retail sales numbers, a sharp slowdown in New York manufacturing and renewed eurozone debt tensions.

Dozens of sacked Toyota workers who were marched from their workstations by security guards will fight to get their jobs back.

Telstra Corporation is set to outline by the end of April a massive restructure of its workforce as it switches from the ageing copper network to the national broadband network (NBN).

 The Australian dollar has continued to fall on concerns around euro zone debt and Spanish bond yields.