AAP

The Australian dollar fell to its lowest level in almost six weeks as the failure of US budget negotiations added to already negative market sentiment.

Prime Minister Julia Gillard says her travels to various parts of the globe in recent weeks have uncovered a common thread of concern amongst world leaders about Europe, and highlighted the merits

Petrol prices rose last week as fuel retailers held back from passing on falls in the wholesale price to motorists, an economist says.

The Australian share market closed marginally lower as wary investors held fire ahead of a Wednesday deadline for a long-term solution to the US debt crisis.

Fewer commercial passenger flights took off or arrived on time last month, when Qantas grounded its fleet for 46 hours due to an industrial dispute.

Steelmaker OneSteel expects conditions for the Australian steel industry to remain challenging.

Banks cannot rely solely on secured issuance, such as covered bonds, to meet funding needs, an Australian central bank official says.

Murchison Metals says it is continuing talks to sell its stakes in the beleaguered Oakajee port project and its sole producing mine in Western Australia.

Federal Treasurer Wayne Swan has dismissed opposition calls for a mini-budget before parliament starts its long summer break.

Shares in iiNet have soared after the internet service provider confirmed its intention to buy Canberra-based TransACT for $60 million.

The Australian market opened almost half a per cent lower as investors remain uncertain about the European debt crisis.

Labor is poised to win its battle to tax the profits of big coal and iron ore miners, after key independents bargained for closer checks on coal seam gas projects and a higher tax threshold.

Negotiations between Qantas and two unions representing its workers have broken down and talks with a third union are stalling.

The Australian dollar was largely unchanged as reports emerged that US politicians were still at odds over crucial debt negotiations.

Gold tracked equity markets to end slightly higher on Friday, even though persistent euro zone debt worries and margin liquidation from other markets sent bullion to its largest weekly loss since S

Air Australia Airways is looking to add Vietnam to its international network.

The Australian share market closed firmly in the red on low trading volumes as concern about the eurozone debt crisis continued to weigh on investors.

Optus has made a last-ditch bid to prevent Telstra from reaching an agreement with regulators over its participation in the national broadband network (NBN).

The prospects for the eurozone are gloomy and its break-up would be incredibly painful, federal shadow treasurer Joe Hockey says.

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.