AAP

Andrew Forrest's legal team has begun its appeal of a Federal Court ruling that the Fortescue Metals chairman and his iron ore company misled financial markets eight years ago.

Treasurer Wayne Swan has described the opposition's varying positions over the new parliamentary budget office (PBO) as an "economic circus".

The Australian dollar has risen above 108 US cents on strong domestic retail data.At 1200 AEDT, the Australian dollar was trading at 107.95 US cents, up from 107.83 cents yesterday.

Retail spending is continuing to maintain a low growth rate as optimism about the global economy improves, economists say.

Commonwealth Bank's ATM and EFTPOS services have been restored after crashing across the country.

The federal government has promised to take strong action if an investigation into slaughter practices at Indonesian abattoirs reveals breaches of its new regime to protect Australian cattle.

Australian stocks opened firmer this morning after a solid overnight session on Wall Street.

The Dow Jones industrial average on Tuesday finally reclaimed the ground it held before the carnage of the Great Recession - bailouts bank failures layoffs by the million and a stock market panic t

The Australian dollar rose to its highest level in two weeks on improved optimism about the euro zone government debt crisis.

The major federal political parties have dismissed the Australian Greens' proposal to pursue a sovereign wealth fund, while providing themselves the opportunity to attack each other.

Retiring QBE Group boss Frank O'Halloran will return to the insurer as a board member next February, a year after posting a 45 per cent plunge in annual net profit.

 Southern Cross Austereo says there has been no lasting financial impact from the Kyle Sandilands controversy.

The Australian share market closed flat after a directionless trading session in the absence of firm leads from offshore markets.

James Hardie shares have fallen after a strong rise in underlying profit still failed to meet market expectations.

Virgin Australia says its domestic ticket prices will rise by as much as $6 per flight due to the federal government's carbon pricing scheme.

The mining sector has given Martin Ferguson its backing as the prime minister considers the ministerial future of the resources minister and other key backers of Kevin Rudd.

Oil and gas producer AWE has booked a near $30 million first half net profit, driven by higher oil prices and lower operating costs, and says it will continue to pursue investments in the energy in

Perth has recorded its second hottest summer on record, its hottest summer in 34 years and its wettest summer in 12 years.

The approval of the structural separation of Telstra means the government can go ahead with the rollout of the national broadband network, offering genuine competition in telecommunications, Prime

The uranium industry has achieved a remarkable turnaround in the 12 months since the nuclear meltdown at the Fukushima power plant in Japan, a key industry figure says.

Heavy rains in NSW and Queensland has led a tough start to 2012 for building products maker Boral.

Optus has failed to gag AFL chief executive Andrew Demetriou from claiming the telco was "lifting" content owned by sporting bodies, behaviour "akin to stealing".

Australian stocks opened firmer this morning, led by strength in the telecoms and information sector.

A substantial drop in Atlas Iron's interim net profit was due largely to project value write-downs, but the miner remains on target to meet its full year production forecast.

The Australian dollar is higher on optimistic global sentiment, ahead of a European operation to boost liquidity.

The Dow Jones industrial average narrowly missed 13,000. Again.

Internet-based shopping is growing at ten times the pace of the struggling traditional retail sector, with annual sales surpassing $10 billion for the first time.

The Australian dollar has fallen more than a quarter of a US cent as demand rises for European currencies.

Telstra Corporation will start selling internet plans to be delivered over the national broadband network from tomorrow.

Caltex Australia says the it expects the recent deterioration of its refining business to be sustained for a prolonged period.

Motorists can kiss goodbye to cheap petrol from tomorrow, with prices set to hit $1.55 as world oil prices surge due to supply concerns in the Middle East.