AAP

The Australian dollar rose to three-week highs overnight as approval of a European bailout fund looks more likely and after some negative comments about the US economy by its central bank.

US stocks posted solid gains Wednesday as investors took heart from signs of progress in Europe in dealing with the eurozone debt crisis.

The international economy may be going through its toughest times since the depths of the global financial crisis, but new research suggests Australia will enjoy a bumper trade performance over the

Julia Gillard's carbon pricing legislation is music to the ears of Matt Birney's Carbon Conscious, which has 190 million reasons to smile - and it's all about hot air.

Flight cancellations and big delays are expected across Australia when disgruntled Qantas employees and customs officials walk off the job over protracted pay disputes.

The Reserve Bank of Australia says it's still not fully clear what impact high frequency (HFT) trading is having on the currency market.

Consumer confidence rose slightly this month but is still well below the levels at the same time last year.

Consumer electronics chain JB Hi-Fi remains optimistic that sales will be strong this Christmas despite a fall in like-for-like revenue in the three months to September.

The Australian share market finished lower, pulling back from a week-long rally, but made up some of its earlier losses by the close.

Former Australian Test and one-day batsman Graeme Wood has resigned from his role as the WACA's chief executive officer to take up a position as state manager of Treasury Wine Estates.

Greens leader Bob Brown says the minor party was right to block Labor's then prime minister Kevin Rudd's emissions trading scheme (ETS) because Julia Gillard's carbon tax is "so much better".

Mining giant BHP Billiton has approved $US1.2 billion in pre-commitment capital for the first phase of the Olympic Dam mine expansion in South Australia.

Junior coking coal explorer Aspire Mining has raised $32.8 million via a discounted placement of new shares to fund exploration at its Ovoot project in Mongolia.

The federal government's controversial carbon tax will not work or deliver the benefits its proponents hope it will, Premier Colin Barnett says.

Fortescue Metals Group has increased its iron ore reserves at the Nyidinghu deposit by 980 million tonnes.

Prime Minister Julia Gillard and former Labor leader Kevin Rudd embraced on the floor of parliament after the House of Representatives passed the government's controversial carbon tax.

Energy Resources Australia (ERA) plans to raise $500 million with the issue of new shares to fund expansion plans.

Conservation and climate groups have welcomed the passage of the federal government's carbon tax bills through the lower house and urged their speedy progress through the Senate and into law.

The Australian dollar fell almost a quarter of a US cent after Slovakia rejected changes to the Eurozone's financial rescue fund.

US stocks drifted to a mixed finish Tuesday ahead of the start of company earnings season and a key vote in Slovakia that could decide the eurozone's rescue fund amid a sovereign debt crisis.

Rare earths explorer Greenland Minerals and Energy says it has made a major technical breakthrough at its flagship Kvanefjeld multi-element project in Greenland.

Premier Colin Barnett says he hopes federal Nationals MP Tony Crook will sink the Labor government's Malaysia solution when he votes on it this week.

The Australian dollar rose around one and a half US cents, after breaching parity several times, as traders awaited more news on Europe's debt crisis.

Australia's sharemarket will climb back to its pre-financial crisis record high by 2013/14 and investors will enjoy returns higher than six per cent a year in the meantime.

New Woolworths chief executive Grant O'Brien will be paid $1.9 million in his first year in the job, but that could more than double with performance-based incentives.

Petrol prices hit a five-month high last week and motorists should expect more tightening at the bowser, an economist says.

The Australian share market ended higher but pulled back from earlier gains, as investors digested news that France and Germany have a plan to fix the eurozone debt crisis.

Stable interest rates and improving economic conditions will drive rising house prices in the next three years, with Perth and Sydney leading the way, a major mortgage insurer says.

The vast majority of chief financial officers believe Australia will avoid a recession even though the general climate of uncertainty is a major drain on already-low levels of business confidence,