AAP

The immediate prospects for the retailing sector look set to go from "bad to worse" as a result of sharemarket volatility, an independent forecaster has warned.

Prime Minister Julia Gillard has told Australia's steel industry that it remains critical to the nation's future even as the country moves towards a low-carbon economy.

The Australian share market remained in positive territory at noon, with strength in energy, materials and bank stocks.

Western Australia receives far less of the national GST take than it would if the funds were distributed according to population, Nationals MP Tony Crook says.

The Australian dollar is firmer this morning after a volatile night characterised by risk aversion and further Eurozone concerns.

US stocks closed higher on Monday, shrugging off troubles in the eurozone and worries about a possible Greek default to stage a healthy rebound.

Chinese investors looking for opportunities in Australia remain focused on the resource and agricultural sectors, according to the head of a major Chinese accounting firm.

Climate Change Minister Greg Combet is talking tough ahead of the introduction of the carbon tax legislation, telling retired workers he learnt from his union days to "stand and fight" for what he

An increase in the GST rate would boost economic growth, help cut business and personal taxes, and get rid of inefficient taxes, accounting experts say.

Office blocks with solid green credentials can be worth up to 10 per cent more than other office buildings, new research shows.

Australia is expected to remain an attractive country for international retailers after some major Australian retailers recently bucked the gloomy trend, new research shows.

The Australian share market closed lower, plunging by more than 3.5 per cent on the worst trading day in a month.

Australian household grocery bills have fallen by a total of $175 million after supermarkets reduced the price of milk, retailing giant Coles says.

Household budgets are set to be squeezed further as fuel prices continue to rise in the near term, an economist says.

Linc Energy plans to buy back on-market up to five per cent of the company's shares, worth about $51 million.

The Australian Greens believe an independent inquiry into the manufacturing sector should be able to be conducted without the name-calling of "protectionism".

Tiger Airways has announced former Virgin Blue chief operating officer Andrew David as the new chief executive of its Australian operation.

More dairy farmers are feeling confident about the future of their industry despite global economic uncertainty and the continuing impact in some areas of drought, flood and the supermarket milk wa

Finance Minister Penny Wong says opposition claims the government is about to withdraw monies from the Future Fund are "completely incorrect".

Australia has posted a trade surplus for the fifth straight month, as mining exports continue to hold weight in the face of a global economic slowdown.

Australian shares retained early losses at noon after the market opened almost three per cent lower due to investor fears on the European debt crisis.

Labor could turn a landslide election defeat into a winning position by bringing Kevin Rudd back as prime minister, according to a poll showing support for Julia Gillard at a record low.

The Australian dollar was nearly two cents lower this morning, after risk aversion among traders spiked on rumours of a Greek default and the resignation of a senior European banker.

US stocks plunged on Friday, with the Dow Jones Industrial Average sliding more than 300 points, as global stock markets were stung by increased anxiety in the eurozone over Greece's bailout.

The Australian share market closed slightly higher, led by consumer staples and telecom stocks, but shed some of its earlier gains as traders took a wait-and-see approach to the US debt crisis.

Hundreds of timber jobs are at risk because of foreign companies that sell their wares at prices much lower than the going rate, the industry says.

Australia's banks can easily meet a new official timeframe for introducing new Basel III capital reforms, global ratings agency Moody's Investors Service says.

Australian companies that register a vessel in Australia will be exempted from company tax from July 2012.

Mining giant Rio Tinto has agreed to surrender its entitlement to a key Pilbara water supply in return for a government waiver on secondary iron ore processing obligations.

The Australian share market opened higher despite a weak lead from Wall Street, after US President Barack Obama delivered a $US447 billion ($A423.06 billion) plan to Congress to stimulate the Ameri

The Australian dollar was trading lower this morning, as traders await a key speech from President Barack Obama on the economy and on US dollar strength.