AAP

Australia's resources and energy exports are set to reach a new record this financial year, though the growth will not be as strong as previously anticipated because of easing commodity prices.

Carbon dioxide (CO2) can be safely and reliably stored underground, an Australian-led team of researchers has concluded.

Junior minerals explorer Blackthorn Resources has extracted the first ore from its joint venture Perkoa project in Africa, and production remains on target to begin in the second half of 2012.

Maritime workers in Fremantle and Bunbury have been locked out of their berths indefinitely by stevedoring company POAGS.

Australia will need $240 billion of investment in its gas and electricity industries over the next two decades to ensure a reliable supply, a draft federal government white paper says.

Farm exports are expected to grow by six per cent in 2011/12 despite an expected slowdown in world economic growth, the federal government's commodity forecaster says.

Business conditions improved slightly in November, thanks to a boost in mining, retail and services sectors, a private survey has found.

Australian shares slumped 1.6 per cent as warnings from two ratings agencies doused hopes that the measures outlined at Europe's debt summit will be enough to resolve the crisis.

Australian shares rose more than one per cent after US data topped market expectations and a debt deal from Europe boosted hopes for the global economy.

The Australian dollar rose half a US cent as European leaders continued to discuss ways of combating their debt problems.

Whitehaven Coal and billionaire Nathan Tinkler's Aston Resources have agreed to a $5.1 billion merger.

Former ABC Learning Centres boss Eddy Groves and CEO Martin Kemp want to be tried separately on charges relating to the collapse of Australia's biggest childcare chain, a court has heard.

Employers face penalties of up to $50,000 if they hire illegal workers under new draft laws the government will introduce to parliament in 2012.

Qantas is continuing with plans to establish a premium Asian airline despite its own gloomy outlook for the global economy.

China Petrochemical Corp (Sinopec) has increased its stake in Origin Energy and US giant ConocoPhillips' Australia Pacific liquefied natural gas (LNG) project.

Economists have been unsurprised by the release of higher housing finance figures, given the growing trend upwards in recent months.

Nick Sherry has stepped down from the federal ministry, ahead of a wider reshuffle by Prime Minister Julia Gillard.

Australian shares surged 1.6 per cent after key offshore bourses rallied on the back of Europe's latest plan to address its economic crisis.

Wesfarmers anticipates a $190 million writedown in its Coregas business as a result of amendments to its contracts with BlueScope Steel.

Treasurer Wayne Swan says the major four banks have looked after their customers leading into Christmas by moving inline with the central bank's interest rate cut.

BlueScope Steel has applied for $100 million of industry assistance from the federal government.

Australian shares ended near their lowest point this month as investors took cash off the table ahead of a weekend of crunch talks on the future of the eurozone.

Energy ministers from across Australia have agreed to draft a plan for dealing with coal seam gas (CSG) development by September 2012.

West Australian teachers are set to remain the highest paid in the nation after reaching a tentative pay deal.

Harvey Norman says it did not knowingly mislead consumers when it advertised 3D televisions in regional areas where such broadcasts were not available, although a court has found otherwise.

Mount Gibson Iron managing director Luke Tonkin has left the miner ahead of his planned departure date after talks with other board members about his termination package collapsed.

Qantas baggage handlers and ground staff are calling for job security as they lodge their draft agreement with the industrial umpire.

Ten Network chairman Brian Long says conditions in the advertising market are still difficult and were expected to remain so, although December has provided some encouraging signs.

Australian shares have dropped as dealers fear failure of a crucial summit in Europe could spell the break up of the eurozone.

Telstra says its revised submission to the competition regulator regarding its participation in the national broadband network does not require further shareholder approval.

Australian shares fell after disappointing jobs data added to an already muted market tone as investors awaited the outcome of the eurozone debt crisis summit.

WA Premier Colin Barnett says major resource projects will be delayed and deferred as a result of a slowdown in the global economy.