AAP

A former business manager at Curtin University in Perth has pleaded guilty to 54 charges of stealing more than $570,000 from her employer.

The Australian market closed higher today but whittled back earlier strong gains on profit-taking.

Consumers could be slugged more for everything from fruit and veg to the latest designer fashions due to a rise in EFTPOS transaction fees, the nation's peak small business group warns.

Australia's securities watchdog is calling for greater disclosure of the extreme risks of an investment product marketed at Mum and Dad investors.

Prime Minister Julia Gillard is demanding answers from the federal opposition over how it intends to make up a "$70 billion black hole" in its budget costings.

The federal government is not yet considering a new stimulus package, despite signs the economy is slowing.

Former ABC Learning Centres boss Eddy Groves is expected to learn next week when he will stand trial on a charge relating to the collapse of Australia's biggest childcare chain.

The Australian share market opened strongly this morning, following rebounds overnight in Europe and on Wall Street, ahead of what is tipped to be a quiet day of trading.

Prime Minister Julia Gillard is committed to introducing the carbon tax despite global economic turmoil and calls from the opposition for the controversial policy to be dropped.

The Australian dollar has opened more than half a US cent higher this morning, following an overnight rally on global equity markets sparked by a recovery in risk sentiment.

US stocks made another dramatic comeback after a stunning fall on Thursday, in another day of extreme volatility in markets around the world.

Watchdog warns about full cost of green power - The West; Key MPs demand to see mining fine print – The West; Jobs threat as steel buckles – The Aus; Woodside to stand firm on Browse – The Aus; Court blow to Perdaman bid to halt Griffin – The West

The Australian share market recovered from earlier heavy loses to close flat after a better than expected profit from Telstra offset negative offshore leads.

A Perth couple who returned home to find their property had been sold without their knowledge or permission might not be the only victims of a real estate scam targeting absent owners.

Perth-based Protean Energy has signed agreement with the Shire of Northampton that paves the way towards installing a commercial-sized wave energy conversion platform north of Geraldton.

Telecommunications provider Optus has posted a 4.9 per cent fall in quarterly profit to $161 million, describing the result as "resilient" amid intense competition and discounting.

Federal government plans to return the budget to surplus in 2012-13 will be just "a dream" by the weekend, Opposition Leader Tony Abbott says.

Inbound passengers at all of Australia's international airports are expected to be hit by delays this afternoon as government quarantine staff walk off the job.

Cooper Energy shares jumped after the junior oil and gas producer said it had been approached by several parties for a merger or outright takeover.

India's prime minister has pulled out of the Commonwealth Heads of Government Meeting in Perth, stunning organisers who considered him a major drawcard for the October event.

David Jones has downgraded its profit forecast for the first half of fiscal 2012 as first quarter sales show no improvement from the preceding quarter.

The gold price continues to climb to fresh all-time highs as global markets return to bear territory amid concerns about debt contagion in Europe spreading to France.

Telstra shares are one of the top performers on the Australian market after the company reported a 17 per cent fall in annual profit but forecast improvements in revenue and earnings in the year ah

The Australian share market recovered early heavy losses to be only slightly lower at noon, after a negative lead from global markets overnight was offset by better-than-expected results from Telst

Federal Assistant Treasurer Bill Shorten has taken aim at Western Australian Premier Colin Barnett, accusing him of playing petty politics over a national disability insurance scheme.

The Australian dollar was trading close to two US cents lower today, after rumours of bad economic news out of France sparked a global sell-off.

US stocks plummeted over four per cent yesterday, more than wiping out a rebound as European debt troubles and worries of a new US recession kept investors nervous.

Business chiefs see more turmoil – The Fin; India's PM pulls out of CHOGM – The West; Disability scheme could cost WA $600m – The West; Taxes 'will drive investors away' – The Aus; Lanco ends threat to stop coal supply – The Aus

The live cattle trade to Indonesia is slowly recovering, with Wellard Rural Exports the latest company to apply to the federal government for a permit.

Australian consumers aren't happy about the frantic swings in financial markets in the past week, with new data showing confidence sinking to its lowest level in two years.

The world isn't headed for a second global financial crisis, it just hasn't shaken off the first one, Commonwealth Bank of Australia chief executive Ralph Norris says.