AAP

Australia will support global efforts to improve corporate governance and transparency in the resources sector.

European leaders have agreed on a crucial plan to reduce Greece's debts and provide it with more rescue loans so that the faltering country can eventually dig out from under its debt burden.

Customs workers say they are close to a new pay deal with management, ending weeks of rolling strike action.

Newcrest Mining has warned that the proposed carbon tax threatens the wellbeing of gold producers.

Opposition Leader Tony Abbott says he is yet to speak to a Liberal backbencher who indicated he might cross the floor in support of Labor's mining tax.

Treasurer Wayne Swan says there would be no excuse for retail banks not to lower their loan rates should the Reserve Bank cut the cash rate next week.

Ten Network Holdings full year profit plunged 90.5 per cent as the broadcaster continues an operational and strategic review.

Woolworths has reported a "patchy" first quarter sales result, with its supermarkets, liquor and new homeware divisions performing well, while sales declined at Big W.

The nation's air traffic boss wants mining companies in Western Australia to re-roster staff to reduce congestion at Perth Airport.

Australian shares jumped almost two per cent, after the market finally opened, as European leaders agreed on a crucial plan to reduce Greece's debts and provide it with more rescue loans.

Strong growth in deposits and home lending has helped National Australia Bank increase its annual profit by 23.6 per cent to a record $5.22 billion.

The Australian dollar saw a slight rise overnight, as traders await news from Europe on developments in the region's debt crisis talks.

US stocks closed with solid gains Wednesday after a choppy session focused on the EU crisis summit, which produced no comprehensive plan but gave hints at real progress.

Woodside Petroleum's new chief executive has not ruled out an onshore processing plant in East Timor for the multi-billion-dollar Sunrise liquefied natural gas project, although the company is stil

The Australian dollar is three-quarters of a US cent lower against the background of delays in Europe's debt crisis talks and soft local inflation figures.

Western Australia's population will double over the next 40 years on the back of a continuing resources boom, Regional Development Minister Brendon Grylls says.

Australian explorer Karoon Gas has told its shareholders that its Brazilian fields are part of the biggest oil discovery in 70 years.

The battle to protect Australia's terrestrial environment from feared effects of coal seam gas (CSG) mining is at fever pitch.

Mining giant Rio Tinto has weighed into Africa's nationalism debate, with chief executive Tom Albanese saying royalty regimes are better for host countries than direct equity ownership in projects.

Australian shares rebounded strongly to finish the day in positive territory after initially falling more than one per cent.

More than a quarter of nations represented at the Commonwealth leaders' meeting in Perth have failed to allow basic industrial rights for workers, the ACTU says

Treasurer Wayne Swan says Australian households are still doing it tough, despite encouraging news on inflation.

Specialty retailer Super Retail Group says it has started the current financial year well, despite uncertain conditions in the broader retail sector.

The resources sector could lose market share to other countries if new exploration incentives are not introduced and costs continue to rise, warns the nation's richest person, Gina Rinehart.

Australia's peak business group has backed Prime Minister Julia Gillard's support for free trade access to developing nations against rising calls for protectionism in international markets.

The rate of inflation has slowed but economists are divided on whether there will be an interest rate cut in the coming months.

Foreign Minister Kevin Rudd says decisions made by European leaders this week will determine the future of the world economy.

Australian shares opened lower as investors worried a resolution to the European debt crisis may not come as soon as hoped.

The Australian dollar fell on scepticism that Europe's leaders are close to resolving the region's debt crisis and as traders await local inflation data.

Fortescue Metals Group has borrowed $US1.5 billion ($A1.44 billion), half a billion more than initially intended, to fund the iron ore miner's expansion plans.

Global stock markets were lower in cautious trade as investors waited in hope for a second EU summit to produce a long-awaited plan to solve the eurozone debt crisis.