AAP

The public has a month to comment on draft legislation detailing how the federal government's carbon price will operate and be enforced.

Two Perth-based junior explorers have announced significant coal-related acquisitions in South Africa.

A Western Australian farmer is suing a neighbour for negligence after genetically modified canola seed blew onto his land, causing the loss of his organic crop certification.

David Jones will stock a range of new international and domestic brands as it tries to boost flagging sales at its stores across the country.

More than 300 Qantas warehouse workers across Australia will walk off the job on Friday in a dispute about job security and wages.

Wesfarmers-owned supermarket chain Coles has posted a weaker than expected fourth quarter food and liquor sales result amid declining prices and consumer confidence in financial 2011.

Treasurer Wayne Swan wants a robust debate about tax reform when a federal government-sponsored forum meets in October.

Australian shares have fallen 1.3 per cent with investors jittery about the US's political standoff that could force a default or downgrade of sovereign debt.

The Australian dollar set a new record overnight but drifted lower in the early morning session, on renewed concern about Europe's debt crisis.

US stocks plunged on Wednesday as the US edged closer to defaulting on its debt and the economy showed more signs of deteriorating.

Food prices soar as bank eyes rate rise – The West; Lanco accused of 'undermining' deal – The Fin; Brownes milk deal with Coles goes sour – The West; Cattle export ban 'cost 326 jobs' – The Aus; Worst performer, yearly data shows – The Fin

Rio Tinto-majority owned Coal & Allied has achieved a 25 per cent surge in first half revenue due to higher production and strong prices, and despite wet weather in NSW.

Former Opes Prime directors Laurie Emini and Anthony Blumberg have been jailed on dishonesty charges relating to the firm's collapse, which left creditors owed more than $630 million.

Commonwealth Bank of Australia's full year financial results next month will include several changes to the balance sheet it says will improve transparency.

Optus will axe up to 180 jobs from senior and middle management and leave a further 70 vacancies unfilled in a bid to cut costs at Australia's number two telco.

The Australian stock market closed lower after the release of worse-than-expected inflation data and as the US debt ceiling stalemate continued.

Aquila Resources is still pursuing legal action against its Issac Plains coal mine joint venture partner, Brazil's Vale, but the pair have resolved a dispute that threatened to close the operation.

Tiger Airways looks likely to seek a second adjournment in its Federal Court hearing until after the aviation watchdog hands down a decision on the airline's bid to return to the skies.

Business groups have warned it would be wrong for the Reserve Bank to lift interest rates next week in the wake of today's stronger than expected inflation numbers.

The escalating fuel price will have a greater impact on Australian air travel than the federal government's planned carbon tax, Qantas chief executive Alan Joyce says.

Developer Australand Property Group says it's well-placed to deliver guidance in fiscal 2011 after posting a 17 per cent first half profit in a cautious environment.

OM Holdings has hit back at attacks from its largest shareholder, Consolidated Minerals, by announcing record quarterly production at its flagship manganese mine.

The Australian dollar hit a 28-year high after stronger than expected inflation figures raised expectations of an interest rate rise, and continuing squabbling over US government debt.

Atlas Iron is gaining exposure to the large Brazilian iron ore mining sector by buying a 19.9 per cent stake in fellow Perth-based Centaurus Metals.

ROC Oil Company has trimmed its full year exploration and capital spend as it continues to seek new projects in Malaysia.

Shell will stop refining at its Clyde Refinery and will import petroleum products into Sydney because it can't compete with Asia's mega refineries.

IMF chief Christine Lagarde warned yesterday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world's top economy.

Shares in Mirabela Nickel eased after the miner reported a rise in June quarter cash costs at its flagship Brazilian operation, although nickel production rose by 20 per cent.

The Australian dollar is nearing its post-float record, broken earlier this year, as the United States debt crisis forces traders to sell their greenbacks and invest in other currencies.

A White House threat to veto legislation that would avert a debt default pushed stocks lower on Tuesday.

US ratings downgrade looms as crisis escalates – The Fin; Productivity critical now the good old days are gone: RBA – The Aus; BCA on attack over union strike-first laws – The Aus; Insurance premiums to rocket on disasters – The West; Golden bets $100m on Perth – The West

Australian shares closed higher despite the failure by the United States to resolve its debt-ceiling stalemate.