AAP

US stocks have pared early sharp losses to close with moderate falls after European Union (EU) officials confirmed that Greece would get the next installment of bailout funds this week.

Fears gripping global markets have seen the Australian dollar fall almost one US cent and could could sink it below parity with its American counterpart in the next few days.

The Australian share market has closed lower over the uncertain future of austerity measures aimed at stabilising some debt-ridden countries in the euro zone, especially Greece.

Optus added 80,000 customers in the three months to the end of March, taking its total to nearly 9.5 million.

Gina Rinehart's children can now claim their share of the family's multimillion-dollar trust, after Australia's richest person unexpectedly brought forward the vesting date of the disputed fund.

The ultramarathon tragedy that left two women runners with life-threatening burns may have affected the reputation of Tourism Western Australia, a parliamentary inquiry has heard.

The success of a $200 million class action case against the property group Centro Retail Australia is a win for all Australian investors, lawyers for the shareholders say.

Australia remains vulnerable to macroeconomic headwinds and too reliant on the central bank to stimulate the economy, says former Liberal leader John Hewson.

A Leighton Holdings subsidiary has been named preferred contractor for the Fortescue Metals Group-owned Solomon iron ore project in WA's Pilbara region.

Australian shares opened lower after falls on Wall Street and the absence of an expected company tax reduction in the federal budget.

Opposition Treasury spokesperson Joe Hockey says the business community is confused by mixed signals in the federal budget.

Treasurer Wayne Swan says small business has been looked after in the federal budget despite the surprise decision to axe the promised cut to the company tax rate.

The latest federal budget could not have been worse for Western Australia, with the state losing more than $1 billion in government funding compared with 2011/12, the state government says.

Turmoil in the eurozone and a clutch of disappointing earnings reports have sent US markets tumbling.

The federal government intends to spread the benefits of the mining boom, but from what continues to be a shrinking pot.

Australian companies have been abandoned by the federal government, the Tax Institute says.

The federal government has reportedly scrapped a promise to cut the company tax rate.

The Australian dollar has moved slightly higher, recovering some of the gains lost in Monday's sell-off, despite renewed concerns about Europe's debt crisis.

CO2 Group has gained $3.8 million in federal government grants to fund carbon sink projects in Western Australia and New South Wales.

The federal government says it was always confident its carbon tax would withstand any legal challenge, after one of its biggest critics backed down.

The Australian share market has closed slightly higher, in the wake of better than expected trading on United States and European markets.

OneSteel shareholders have voted in favour of changing the company's name to Arrium.

Leighton Holdings insists that its portfolio of projects is performing well despite its two big ticket developments costing the construction giant $254 million in pre-tax earnings.

The Senate has remembered Judith Adams for her bravery and stoicism during a long battle with cancer.

The Commonwealth Bank of Australia is cutting interest rates on its one- and three-year fixed home loans by up to 0.34 percentage point.

Mineral sands miner Iluka says it will cut its annual production of zircon in 2012 because the global economic outlook remains unclear.

Australia's trade deficit widened in March after flooding and industrial action held back coal exports, economists say.

Australian shares opened slightly higher after gains for European stocks when their markets had a change of heart about the election of France's first Socialist president in nearly two decades.

The price of oil has dropped to its lowest level of the year after elections in Europe created uncertainty over the region's plan for recovery.

US stocks have closed mixed, showing little impact from the weekend votes in France and Greece which cast doubt on the path of financial reform across the troubled eurozone.