AAP

The Australian dollar slipped to trade back below 105 US cents after soaring to its highest position since October.

More Australian businesses left bills unpaid for 90 days or longer during the December quarter than a year earlier, Dun & Bradstreet said. 

Australia's biggest gold producer, Newcrest Mining, has reported a 20 per cent drop in quarterly gold production compared with the prior corresponding December quarter.

Frustrated dairy farmers are leaving the industry while the government sits on three reports on the supermarket milk price war.

Oil Search expects flat production into 2013 as natural field decline and processing shutdowns are offset by new exploration success.

Prime Minister Julia Gillard says the federal government will help find jobs for the 350 Toyota workers made redundant and shore up the car industry overall.

 Treasurer Wayne Swan has supported calls for Europe to take more action to solve its debt crisis, saying no country is immune from the fallout.

Australian shares have opened higher as the weaker US dollar helps commodity prices and concerns over Europe's debt crisis take a back seat.

Toro Energy expects its Wiluna project will receive final government approval this year before a state election when the opposition Labor Party hopes to ban new uranium mines if elected.

The Australian dollar has soared above 105 US cents for the first time since October on renewed optimism that Greece will reach a deal with its creditors to avoid defaulting on its debt.

Oil prices rose modestly Monday after the EU slapped an embargo on Iran's crude exports as part of tough new sanctions aimed at stopping Tehran from funding its disputed nuclear program.

The Australian dollar has continued its solid performance over the weekend against the US dollar, influenced by relatively good economic fundamentals.

 The industrial relations umpire has signed off on a workplace agreement between Qantas and its engineers.

Another official interest rate cut is looking more likely as new evidence shows price pressures are easing.

 Toyota Australia has confirmed it will cut 350 jobs due to pressures caused by the high Australian dollar.

The Australian share market closed weaker as investors awaited an outcome to Greek debt restructure plans, with eurozone finance ministers scheduled to meet later today.

The multi-billion-dollar Australia-Pacific liquefied natural gas (APLNG) expansion project is nearing a decision to proceed.

Motorists will pay less for petrol in the weeks ahead after unleaded petrol prices hit an 11-week high last week, an economist says.

Treasurer Wayne Swan would welcome new foreign lenders to the Australian loans market, saying more competition would mean better deals for borrowers.

 A Chinese nuclear company has moved a step closer to bidding for Australian uranium explorer Extract Resources but the target says it is still seeking alternative suitors.

A lower than expected rise in producer prices is expected to set the tone for the release of key inflation figures later this week.

 Record production in the December quarter has helped Mirabela Nickel meet its 2011 targets, and the company expects higher production in 2012.

Western Australia continues to lead the nation's economic growth and is set to maintain its course for most of this year, a new report says.

Australian shares opened slightly weaker as cautious investors looked for news on the Greek debt situation following weak overseas leads.

The Australian dollar rose to its highest level in 12 weeks amid hopes Greece will reach a deal with its creditors to avoid a disastrous default on its debt.

European shares notched up a fifth straight week of gains last week, as the outlook for the global economy improved and on optimism Greece would avoid a messy default.

Defence Minister Stephen Smith says he is not concerned that incoming Western Australian Labor leader Mark McGowan could battle the federal government on infrastructure funding from the mining tax.

The Australian dollar rose more than a quarter of a cent during a quiet day of trading following a boost on news of successful European bond auctions.

Default superannuation funds included in workplace awards could be subject to new criteria decided by the Productivity Commission.

Australian shares ended the day on a strong note for their third successive week of gains.

Economists believe the rate of inflation in Australia is continuing to slow although it maybe the cooling world economy that will play a greater role in cutting interest rates.