AAP

The Australian share market opened higher today, led by bargain hunters and defying expectations following a weak lead from Wall Street.

The Australian dollar was higher this morning although risk appetite was waning, after the release of contrasting economic data from the US and Europe overnight.

Jobs lost as economic reality hits – The Aus; Sheep stuck in new export dilemma – The West; RBA fears consumer fright – The Aus; Chinese scout for farms – The West; Rio Tinto agrees to union collective agreement – The West

Atlas Iron chief executive David Flanagan will press federal independent MPs about the Gillard government's "bad decisions", including the new mining tax.

Takeover target Macarthur Coal says it remains in a strong position to double its 2009 production levels by the 2014 financial year.

The Australian share market has closed lower, ending a three-day rally after a week of market volatility as investors pulled back in response to the local dollar rising in afternoon trade.

The land of the rising sun is about to get an orange star.

Australia appears to be "leading the race" on climate change action in a way that could hurt resource companies competing internationally, a key mining group says.

Engineering services group Cardno has posted its seventh consecutive year of record profits and earnings per share growth as a listed company and says the outlook remains positive.

OneSteel has flagged more job cuts and possible closures in its loss-making steelworks division after retrenching 400 workers, as the industry reels from weak demand and a high Australian dollar.

A report by the Climate Commission has predicted up to 28,900 coastal homes in Perth and the southwest will be flooded by the end of the century due to rising sea levels.

Howard government minister Peter Reith has slammed Premier Colin Barnett for his inaction on industrial relations and allowing an "open-door policy" for unions.

Global economic uncertainty is weakening local demand and could dampen the inflation outlook over the medium term, the central bank says.

A new push by Westpac Banking Corporation to improve productivity is likely to result in job losses and outsourcing overseas.

Federal Treasurer Wayne Swan says the best way to address global economic uncertainty is with conviction and resolve.

Copper and gold miner OZ Minerals remains on the hunt for acquisitions and has booked a 72 per cent slump in first half profit after spending $60 million settling a class action.

Unions are gearing up for a fight against Qantas, following the airlines's announcement it plans to cut up to 1,000 jobs.

Australian shares opened higher after a strong lead from Wall St but were expected to drift lower on a poor trading update from Westpac.

US stocks rallied on Monday, erasing last week's losses, after a raft of big merger and acquisition announcements spurred buying momentum.

Miners dig deep to battle carbon tax – The Fin; More power to Labor bid for uranium ban – The Fin; Premier won't scrap weekend penalty pay – The West; Fortescue debt deal can wait – The Fin; UWA ranks among world's best – The West

Australian shares closed sharply higher, extending earlier gains in the day, led by bargain hunters on the back of positive company results.

Almost half of Australia's voters believe the world is on the cusp of another widespread financial crisis, while over a third say it is a 50-50 call, a new survey has found.

ThinkSmart has increased first half profit by five per cent as the computer and office equipment leasing company recorded a strong performance in the UK.

Shares in Leighton Holdings have jumped more than seven per cent as the construction giant forecasts a "positive" long-term outlook and a return to profit in fiscal 2012.

Mining company Mirabela Nickel has posted a first half $US37.2 million ($A36.1 million) net loss because of costs associated with ramping up operations at its flagship mine in Brazil.

An Australian Greens push to give farmers a greater say over coal seam gas miners accessing their land looks set to fail, with Opposition Leader Tony Abbott changing his tune on a veto.

The Australian market has opened the week higher, buoyed by the gains at the end of last week.

The Australian dollar was nearly one US cent higher this morning, as the dust settled after last week's wild ride.

The wildest week in Wall Street since 2008 ended with a second day of gains.

High court ramps up pressure – The Fin; States warned on $30bn bid – The Aus; Markets hope for confidence shot – The Aus; Sunday shopping pledge sparks pay rates dispute – The West; Green delays hold back $220m Ord River plan – The West

Security contractor G4S has been fined $285,000 for its part in the death of a man in the back of a prison van in the goldfields region.