AAP

Atlas Iron appears poised to secure control of takeover target FerrAus, amid indications that a major Chinese investor in the iron ore explorer will accept Atlas' all-scrip $240 million offer.

The Australian dollar was half a US cent higher following positive leads from equity markets as investor sentiment continued to improve.

US stock markets rallied on Monday as upbeat data on consumer spending lifted hopes that economic growth would pick up speed, and Hurricane Irene caused less damage than feared.

PM rebuffs calls for industry, IR inquiry – The Fin; For consumers, the outlook is gloomy – The Aus; Rio tells Barnett to think nuclear – The West; Perdaman-Lanco coal deal 'will lapse' – The Fin; 'Strings' sink Neptune bid – The West

Australian shares pared back earlier gains, but still closed higher as strong company earnings at the end of the reporting season buoyed investor sentiment.

Franchisors are forecasting a 17 per cent increase in profit growth over the next 12 months after recording double digit growth last year, a report shows.

Oil and gas company AWE has posted a $117.6 million full year loss after taking hits on writedowns and unsuccessful exploration costs.

Tectonic Resources is holding talks with Chinese parties about funding for its $145 million, potentially wind-powered Phillips River copper and gold project near Ravensthorpe.

Federal Schools Minister Peter Garrett says the government's continued focus on skills will help the manufacturing industry more than changing the industrial relations system.

Tiger Airways Australia is losing another chief executive, with Tony Davis leaving the airline and its Singapore-based parent company.

QR National chief executive Lance Hockridge says he is open to cooperating with BHP Billiton on new rail projects in Queensland.

Homeloans has booked a 25 per cent drop in annual net profit and warns subdued housing market conditions are likely to continue for the first half of 2011/12.

The Australian share market opened higher on after a strong US lead as investors looked past a highly anticipated speech by US Federal Reserve chairman Ben Bernanke which dashed immediate hopes for

The industrial relations system is not working, especially for small businesses, the former head of the Australian Building and Construction Commission says.

Ways to boost the ailing manufacturing industry will be on the agenda when Prime Minister Julia Gillard meets unions and industry groups on Monday.

The Australian dollar was close to one US cent higher, reflecting broad-based US dollar weakness after a speech by the leader of the US central bank left markets cold.

US stocks closed solidly higher on Friday, shrugging off central bank chief Ben Bernanke's "no new stimulus - yet" message and locking on his statement that growth should pick up in the second half

Unions escalate IR war with 'out of touch' RBA – The Aus; Labor defends open economy – The Fin; Boom puts people on move – The Aus; Water restrictions on WA miners – The Fin; Reboot for rare-earth mine – The West

Bill payments operator BPAY has axed its Me and My Bank Online (MAMBO) project after ANZ Bank and National Australia Bank (NAB) withdrew from the online payments identity project.

Companies brave enough to provide detailed forecasts were even rarer than stellar performers this earnings season, analysts say.

Perpetual's shares jumped to a 10-week high after the wealth manager and trustee announced a $70 million off-market share buy-back and an annual profit in line with expectations.

Australian shares closed lower, ending a flat day of trading ahead of a speech by US Federal Reserve chairman Ben Bernanke, which is scheduled for after the local market closes.

The nation's peak oil and gas body has urged the federal government to ensure proposed changes to tax laws designed to give Australians a fairer share of return of resources profits do not cripple

Four months after it was first announced, Fortescue Metals Group founding director Russell Scrimshaw has stepped down from the iron ore miner's board to focus on other projects.

The head of Australia's central bank has given no indication there will be an interest rate cut as inflation worries linger.

The world's largest scrap metal recycler, Sims Metal Management, has posted a 51.6 per cent lift in full year profit on the back of a vastly improved performance by its ferrous (iron) division.

Protesters have clashed with police and at least one person has been arrested at the site of proposed gas hub near Broome.

Gold miner Ramelius Resources has tripled its full year net profit due to high prices for the precious metal and increased production.

It's too soon to say how much of a hit global growth will take from weakness in the US and Europe, federal Treasurer Wayne Swan says.

Singapore-based budget carrier Tiger Airways Holdings says it plans to raise about $S159 million ($A126 million) to fund an expansion of its fleet by offering stocks to existing shareholders.

ASX Ltd has appointed the head of Tabcorp to replace chief executive Robert Elstone when he steps down from the top job, ahead of the launch of the rival bourse Chi-X.

The Australian dollar was higher at noon, after the Reserve Bank of Australia gave an upbeat assessment of the country's financial system.