AAP

The growth of the Australian economy is set to pick up pace in 2012, according to the Westpac-Melbourne Institute Leading Index.

The Australian share market finished higher despite a late-session weakness by resource heavyweights and the dark shadow of Europe's debt crisis overhanging the market.

Virgin Australia says it will provide additional capacity to minimise the impact of ongoing Qantas industrial action on the Australian travel and tourism industry.

Household confidence is gradually rising and spending could increase as Christmas approaches, research says.

Prime Minister Julia Gillard says new modelling showing many Australians will be better off under Labor's carbon tax shows the Coalition's fear campaign is without foundation.

Rail operator QR National says a contract renewal with aluminium maker Alcoa in Western Australia will contribute revenue of more than $400 million over 10 years.

The Reserve Bank of Australia is optimistic about the stability of the Australian banking system, despite recent worries about the European banks and government debt problems.

Chinese economic strength will "trump" any slowdown in Europe and the US to bolster the state's finances, according to treasurer Christian Porter.

Signs reading "No gas", "Respect indigenous culture" and "Barnett crucifying the Kimberley" have cropped up in the northern coastal region of Western Australia.

Moody's Investors Service says Telstra Corporation's rating is unchanged following shareholder approval for the telco giant's participation in the national broadband network.

Copper and gold miner OZ Minerals estimates its newly acquired Carapateena asset will cost about $A2 billion to develop and the company will, at the same time, continue to hunt acquisitions.

Iron ore and petroleum increasingly dominate BHP Billiton's production, making some investors nervous, even as the world's biggest miner posts record iron ore shipments.

The Australian share market opened higher this morning as investors grow hopeful that measures to stem Europe's debt crisis are being finalised.

US stocks rallied Tuesday after a British newspaper reported that France and Germany were ready to sharply boost the eurozone's rescue fund in a bid to address the public debt crisis.

The number of new personal bankruptcies has fallen to its lowest level in five years as consumers cut down on their credit card use, but businesses are still doing it tough.

The Australian dollar is one US cent lower amid worries that a clear resolution to the eurozone government debt crisis may not be coming soon.

India's state-owned National Mineral Development Corporation (NMDC) has cemented a deal first announced late last month to buy half of junior mineral explorer Legacy Iron, under plans to snap up mo

Western Australian police officers have accepted a wages deal just days before engaging in a massive security operation for the Commonwealth leaders' meeting in Perth.

Standard & Poor's Ratings Services has lowered its credit rating on engineering and construction company Leighton Holdings, citing a weaker business profile.

Australian shares closed sharply lower with local resources stocks hit hard, amid renewed pessimism over Europe's ability to manage its debt crisis.

Premier Colin Barnett has rejected concerns that protesters arrested during the Commonwealth leaders' meeting in Perth will cause overcrowding in the state's prisons.

Consumers may become the Grinch who stole Christmas for both credit card issuers and retailers, with most planning to ditch credit in favour of using savings to pay for major purchases.

The new boss of the Future Fund believes the vehicle is well positioned to cope with "clearly challenging" conditions in global financial markets.

Prime Minister Julia Gillard says the upcoming European nation meetings and the G20 leaders summit must put "important ballast" under the global economic recovery.

Qantas will ground another two aircraft and cancel a further 80 domestic flights over the next month in response to industrial action by its engineers.

The Australian Greens have called for commonwealth nation leaders to agree on a common approach to tackling climate change.

Seven West Media has finalised a new $1.95 billion credit facility so it can steadily reduce debt.

Proxy and direct votes show Telstra Corporation shareholders have overwhelmingly approved the telecommunication giant's deal with the federal government over the National Broadband Network (NBN).

The federal government's top finance bureaucrat has told a Senate hearing that a return to a budget surplus in 2012/13 remains the current plan.

The central bank says it may be prepared to cut the cash rate if inflation looks as if it is under control, against a backdrop of deteriorating domestic and global economic conditions.

The Australian share market opened almost 1.5 per cent lower, reversing yesterday's gains, after German officials dampened optimism over the European bailout plan.

The Australian dollar has fallen more than one US cent as comments from Berlin dampen expectations an upcoming European Union (EU) summit will solve the eurozone's debt crisis.