AAP

A contractor who paid more than $133,000 to a former council building co-ordinator has been jailed for 18 months after pleading guilty to a corruption charge.

Wesfarmers says it expects to book $90 million pre-tax profit on the sale of its Premier Coal business to Chinese-owned Yancoal, after the deal was given regulatory approval today.

Australian stocks ended modestly higher as positive leads from the United States helped the local market claw back some ground after a week of heavy losses.

Qantas has struck a new three-year deal with its short-haul cabin crew.

Law firm Maurice Blackburn will file class actions against the other big banks for charging exorbitant customer fees after the partial success in a court case against ANZ.

Leighton Holdings subsidiary John Holland has won a $100 million Opera House project to build a new loading dock and upgrade the forecourt roadway.

ANZ Banking Group has echoed what has been said by the other major banks, saying that the European debt crisis is increasing the cost of funds.

Bendigo and Adelaide Bank will pay about $130 million for Bank of Cypress Australia, which caters to the Greek and Cypriot communities in NSW, Victoria and South Australia.

Oil refiner Caltex expects a drop in profit in 2011 due to challenging trading conditions and disruptions to its operations.

Australian stocks broke their three-day losing streak following positive data from the US and a surge in demand at Spain's latest bond auction.

The Australian dollar has risen slightly on stronger than expected data from Europe.At 0700 AEDT the Australian dollar was trading at 99.15 US cents, up from 98.78 cents on Thursday.

Positive data on the US jobs market, industrial activity and trade has given a boost to US stocks, but eurozone clouds continued to hover over the markets.

A new communications watchdog and an overhaul of media ownership rules are among the recommendations of the federal government's media convergence review.

More than $300 billion worth of resources projects are either underway or on the cards in Western Australia, according to state government data.

Consumer products retailer JB Hi-Fi has flagged its first fall in earnings despite adding new stores, as the retail slump catches up to the seller of low-priced audio visual products.

National Australia Bank says the current exposure to European government debt is "negligible" and it is committed to retaining a presence in the UK.

Australian stocks fell to a two-week low as poor data out of Asia and the growing prospect of a recession in Europe sent investors running for cover.

Gas pipeline owner Hastings Diversified Utilities Fund (HDF) has rejected a surprise takeover offer by APA Group but says it's still open to a higher bid.

ANZ Banking Group says it could take several weeks to fix a security problem with its online banking service.

BlueScope Steel says retail shareholders took up less than half of the new shares available under a $600 million capital raising share offer.

Jetstar Airways is on the lookout for a new head of its Singapore-based operations after announcing Chong Phit Lian would step down in February next year.

Wharfies have returned to work at Fremantle and Bunbury ports in Western Australia, ending a nationwide maritime dispute with stevedoring company POAGS.

Iron Ore Holdings plans to buy back up to 10 per cent of its shares on market, saying the iron ore explorer's share price does not reflect the fair value of its assets.

An Asian investor will match the federal government dollar for dollar as part of a $200 million scheme to help local renewable energy companies get started.

Prime Minister Julia Gillard's salary will rise to $481,000 and backbenchers will get a base rate of $185,000 from 2012, under a plan released today.

National Australia Bank says volatile global markets are pushing up the cost of funds and 2012 will be a challenging year.

Australian stocks fell as fears that France may face a downgrade to its sovereign debt rating sparked renewed concerns about the fall out from the euro zone debt crisis.

Moments after becoming federal workplace relations minister, Bill Shorten announced last night a breakthrough in the waterfront dispute at Australian ports.

Australian shares clawed back lost ground to end flat after the largest monthly fall in consumer confidence since 2008 dragged down markets.

More than 1,000 businesses affected by alleged price fixing between cardboard manufacturers Amcor and Visy have received an early Christmas present, as the two companies finally come through with $

Poker machine reforms proposed by federal independent MP Andrew Wilkie are too simplistic, casino and media tycoon James Packer says.

Australia's entertainers copped their share of economic woe in 2011, but it's unlikely they'll find a shoulder to cry on.