AAP

Soft drink supplier Coca-Cola Amatil (CCA) says it will re-enter the beer market despite having to give up its beer operations if SABMiller succeeds in taking over Foster's Group.

The Australian dollar has fallen below parity, as last week's news of the United States' credit rating downgrade continues to spook investors.

Australia is "flavour of the month" in Asia as a reliable resources supplier and is strongly placed to weather the current global economic troubles, federal Resources Minister Martin Ferguson says.

The economy is growing below its trend rate and continuing to lose momentum, the National Australia Bank's monthly business survey has found.The survey was undertaken in July.

Official figures show the owner occupied housing sector is holding up well, and won't affect the outlook for interest rates, economists say.

Origin Energy and ConocoPhillips have finalised an agreement so China's Sinopec can take a 15 per cent interest in the Australia Pacific LNG project in Queensland.

Westpac Banking Corporation has cut the interest rate on its three-year fixed rate home loan by 20 basis points.

Australian shares made a remarkable turnaround to be flat after falling as much as five per cent during the morning.

The Australian dollar was more than 1.5 US cents weaker this morning, as last week's Standard & Poor's historic downgrade of America's credit rating continues to drag on risk sentiment.

US stocks plummeted more than five per cent on Monday, with the Dow Jones Industrial Average losing 634 points, after Standard & Poor's dealt the United States an unprecedented downgrade.

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The price of gold struck a record high above $US1,700 an ounce with dealers flocking to the safe haven metal as Asian stocks tumbled following Standard & Poor's downgrade of US debt.

The Australian dollar fell by almost a full US cent to a four-month low as the United States' credit downgrading caused traders to seek less riskier investments.

Panicked investors shaved about $32 billion off the Australian share market, sending it to a two-year low on fears of a volatile Wall Street following the first downgrading of US sovereign debt by

Voters would put more trust in a coalition government to manage the economy should current financial market turmoil result in a second global financial crisis, a new survey has found.

Big profits are expected from major banks this week but investors are more focused on how lenders plan to grow revenue when consumers and businesses are borrowing less.

Older Australians would contribute up to $60,000 for the cost of their aged care and face "uncapped" charges for nursing home accommodation under a proposal being considered by the federal governme

Energy utility investor Duet Group has successfully completed the $174 million institutional component of its capital raising, which was oversubscribed despite the share market turmoil of the past

Ratings agency Standard and Poor's says its unprecedented US credit rating downgrade will have no immediate impact on Asia-Pacific sovereign ratings, but could have negative consequences over the l

A mining maintenance company in the Goldfields has been fined $90,000 after a 15-year-old apprentice was badly injured by the descending tray of a dump truck.

It will be harder for the federal government to provide another stimulus package should it be needed in the current global economic circumstances, the opposition says.

The boss of Rio Tinto says the turmoil that wiped $100 billion off the value of Australian shares last week reinforced that the federal government should not be experimenting with the economy.

Bendigo and Adelaide Bank has increased annual profit by 41 per cent to $342 million and has expressed confidence in its ability to source loan funding in volatile markets.

Shares in Coal & Allied surged more than 27 per cent after Rio Tinto and Mitsubishi Development made an informal takeover proposal for the NSW-based miner.

JB Hi-Fi Ltd shares have opened more than four per cent lower after the company reported a 7.55 per cent decline in full year net profit.

The Australian share market had clawed back some losses at noon after Standard and Poor's downgraded the United States credit rating for the first time in history over the weekend.

Treasurer Wayne Swan says Australia's economy is in good shape and can cope with the worst the world can throw.

The Dow Jones Industrial Average gained 0.54 per cent on Friday to close at 11,444.61 after a roller-coaster day on the markets, ending the week with steep losses.

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Grounded airline Tiger Airways Australia should know by the end of next week whether it can resume flights, after a court hearing on the suspension was again adjourned.

The federal government should abandon plans to introduce a carbon tax while international markets are in turmoil, Acting Opposition Leader Julie Bishop says.