AAP

OZ Minerals has pulled out of a uranium exploration joint venture with Toro Energy in South Australia, saying no economic uranium has yet been found at the Mt Woods project.

Energy giants Shell and Woodside have snapped up the lion's share of petroleum exploration permits which will see more than $300 million of investment in waters off Western Australia.

Skilled labour in the residential building industry has hit surplus for a consecutive quarter, an industry group says.

Coalition MPs won't vote to increase super contributions to 12 per cent when legislation goes to parliament, Opposition Leader Tony Abbott says.

Telstra could reach agreement with regulators over its participation in the national broadband network before the end of the year, the telco says.

Key independent MP Tony Windsor says he is more than likely to support the government's proposed minerals resource rent tax when the bill enters parliament next week.

The Australian share market has opened more than one per cent lower as expected, following falls on Wall Street and European markets overnight.

The Australian dollar is lower this morning, falling below parity with the US dollar ofor the first time since October 12.

US stocks have taken a sharp plunge as fears over the contagion in the eurozone crisis trumped some mildly positive data on the US economy.

BHP Billiton has become more way about the global outlook for commodities as Europe's debt problems start to worry its big Chinese iron ore customers.

Federal Labor's mining tax is on the table for debate next week but is not yet a done deal as talks with crossbench independent MPs continue, Treasurer Wayne Swan says.

Treasurer Wayne Swan expects the economy will still be growing at trend in the current financial year when he hands down Treasury's latest economic forecasts with the mid-year budget review.

The Australian share market closed slightly higher as investors shrugged off significant falls on overseas markets and focused on domestic corporate news.

The Reserve Bank of Australia is focusing more on managing risk, given the financial volatility seen over the past few years, its governor, Glenn Stevens, said.

Industrial services company Spotless Group says a $698 million takeover offer from a private equity firm undervalues the company.

Property developer Mirvac Group does not expect a correction in the residential market, and believes demand for office space is set to remain strong.

The Australian Greens will seek to broaden the minerals resource rent tax to cover uranium.

Qatar Airways says it will add Perth to the fast-growing airline's network next year.Flights would be launched over the "next few months", Qatar Airways said in a statement.

Seven West Media has attributed the sharp fall in the media group's share price to equity market turmoil but says its stock should be pushed higher by investors after a recent debt refinancing.

Western Australia's non-genetically modified (GM) grain sector could vanish within the next 10 years due to contamination from GM crops, some farmers and conservation groups fear.

US President Barack Obama says America is "all in" when it comes to the Asian century and will turn the full focus of the global power's trade and defence policies to the region.

A motion to wind up Meat and Livestock Australia (MLA) is doomed to fail but beef producers hope it ultimately will lead to a new industry body.

Australian stocks have opened lower but outperformed significant declines on offshore markets.

BHP Billiton has priced a $US3 billion ($A2.96 billion) global bond from which proceeds will be used for general corporate purposes.

German Chancellor Angela Merkel has admitted the eurozone has still not identified the road to recovery from its crippling debt crisis, after talks with Irish Prime Minister Enda Kenny.

US stocks closed sharply lower Wednesday as turmoil on the eurozone bond markets indicated little confidence in Europe's efforts to manage its debt crisis.

The Australian dollar is close to falling below parity after dropping by more than one US cent as investors continued to worry about Europe's debt crisis.

Smiles were everywhere at the Qantas jet base in Sydney as the lucky, chosen few caught a glimpse at what chief executive Alan Joyce described as the star attraction - the Australian debut of Boein

The Australian share market closed lower after a positive lead from United States markets was outweighed by continued concerns about Europe's debt problems.

BC Iron expects ongoing volatility in the iron ore price, but says the market will remain healthy.

Former District Court judge Roger Macknay QC has been confirmed as the new head of the state's corruption watchdog.

At $1,000 per bottle, it's Australian wine brand Penfolds' most expensive red at the time of its release, and the first customers to see the luxurious drop are in China.