AAP

The Australian share market opened slightly higher on the back of offshore gains.

The Australian dollar was stronger after global equity markets posted another night of gains on the back of better than expected manufacturing and jobs data from the US.

US stocks gained on Wednesday, boosted by better-than-expected data on manufacturing in the country's industrial heartland, while still ending the month of August with losses.

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The Australian share market closed slightly higher, with late gains in financial and mining stocks helping the bourse out of earlier negative territory.

Prime Minister Julia Gillard is adamant the nation doesn't need a sovereign wealth fund when it already has a trillion-dollar superannuation treasure chest.

The coalition has seized on research which suggests retail electricity prices will be pushed up by at least 15 per cent for large users as the carbon tax is rolled out.

Opposition Leader Tony Abbott says Labor's Fair Work laws have "swung the pendulum" too far away from business and industry.

Qantas is to enter conciliation talks with long-haul pilots at Fair Work Australia in an attempt to resolve a continuing dispute over pay and conditions.

Paladin Energy managing director John Borshoff has called for an overhaul of the uranium pricing system, saying it is "peculiar" and disadvantages the commodity's producers.

Mining groups have warned that the heritage listing of the Kimberley may put projects in the region at risk, despite Woodside Petroleum's proposed gas hub at James Price Point being excluded.

Australian stocks opened flat,  with weakness among the big retail banks and energy companies offset by gains in the telecoms and gold sector.

Concerns over Telstra's blueprint for the structural separation of its retail and wholesale arms should not delay the national broadband network (NBN) roll out, the competition watchdog says.

Mining giant BHP Billiton has backed the introduction of the new arbitration rules designed to speed up the resolution of cross-border and international commercial disputes.

The Australian dollar hit a four-week high overnight, as equity market strength was fuelled by suggestions the US Federal Reserve may yet act to boost the ailing economy.

US stocks closed with modest gains on Tuesday after newly released minutes from the Federal Reserve's key policy committee raised hopes that the Fed would act to boost the ailing economy.

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Australian stocks pared back earlier gains to close marginally stronger as investors awaited firmer direction from economic events offshore.

Shares in Kingsgate Consolidated backtracked after the gold miner booked a sharp fall in full year net profit due to lower sales of the precious metal.

The competition watchdog says it cannot accept a crucial aspect of Telstra's move to structurally split its retail and wholesale arms.

Forge Group has won a $200 million contract to provide engineering, procurement and construction work for primary iron ore crushing hubs at Fortescue Metals Group's Solomon mine.

Melbourne has knocked Vancouver off its perch as the best city in the world to live in, while Perth has scraped into the top ten, ranked the world’s eighth most liveable city.

Premier Colin Barnett says he's concerned a blanket heritage listing for the west Kimberley region will create more red tape.

Retailer Harvey Norman says it remains cautious into fiscal 2012 due to global volatility and weak domestic conditions after posting a nine per cent increase in full year profit.

The federal government and the coal industry have criticised a new report which says Labor's carbon tax compensation package is too generous and will protect companies that don't deserve to survive

Commonwealth Bank of Australia (CBA) has swooped on Count Financial, offering its shareholders $373 million to acquire the national network of financial planning accountants.

The home building sector could continue to stagnate for the next six months, with worse than expected home building approvals figures showing a recovery is not in sight.

Macarthur Coal has advised its shareholders to accept a revised, $4.8 billion joint takeover offer by the world's largest steel maker, ArcelorMittal, and US coal miner Peabody Energy.

The corporate regulator has proposed a significant number of changes to the way financial products are advertised, including outlawing indecipherable warnings or disclaimers.

Cash from the resources boom should be used to build a $100 billion rail link between Brisbane and Melbourne, federal Greens leader Bob Brown says.

The state government has rejected a call by mining giant Rio Tinto for it to consider using nuclear energy plants to supply some of the state's future electricity needs.

Resolute Mining says it swung back to profitability in 2010/11 and expects gold production to rise in the current year.