AAP

US stocks dropped more than one per cent on Thursday, a day before a closely watched report on the jobs market will show whether prospects are improving for the world's largest economy.

Investment boom is more than mining – The Fin; Jobs to go in GESB revamp – The West; Oswal loses bid to stall $100m Burrup case – The Aus; Prices to soar as homes dry up – The West; ALH grabs Compass pubs – The Fin

Treasurer Wayne Swan believes the latest surge in building and equipment spending by business highlights the "great faith" investors have in the nation's economic outlook.

Sundance Resources continues to say that a $1.44 billion takeover bid by the iron ore explorer's largest shareholder is not sufficiently priced.

The average price of Australia's export commodities rose 0.4 per cent in foreign currency terms, hitting a new all-time high in the process.

Worldwide iron ore production growth will need to grow by at least 100 million tonnes a year over the next eight years to meet rising demand, Rio Tinto says.

The Australian share market pared back earlier gains on offshore leads to close slightly higher, led by telecom stocks.

Business growth and confidence among small and medium sized legal and accounting firms slumped in the first half of 2011, a survey shows.

Mineral sands mine developer Base Resources says the top two titanium dioxide producers in the world, Dupont and Cristal Global, are interested in becoming customers for its planned Kwale project i

Ghana-based gold miner Adamus Resources expects to complete its planned merger with Toronto-listed Endeavour Resources by November.

Brick manufacturers will be heavily impacted by a carbon tax compared to other manufacturers, Opposition Leader Tony Abbott says.

Australia's economy is performing slightly better than expected, with a small pick-up in retail sales in July and strong growth in business investment plans for capital expenditure.

Australian manufacturing activity contracted further in August, with the sector continuing to suffer from strong overseas competition and the high Australian dollar, an industry group says.

Businesses were evacuated and motorists warned away after a fierce blaze broke out at an aged care furniture factory in Perth's north-east and spread to neighbouring buildings.

Construction giant Leighton Holdings will vigorously defend claims it did not properly inform the market of its massive turnaround in financial performance.

Ratings agency Standard and Poor's has revised its outlook on Qantas Airways to stable from negative, based on the airline group's new international strategy.

Rio Tinto has appointed former BHP Billiton chief financial officer Chris Lynch to its board as a non-executive director.

The Australian share market opened slightly higher on the back of offshore gains.

The Australian dollar was stronger after global equity markets posted another night of gains on the back of better than expected manufacturing and jobs data from the US.

US stocks gained on Wednesday, boosted by better-than-expected data on manufacturing in the country's industrial heartland, while still ending the month of August with losses.

Abbott signals shift on workplace laws – The Aus; Earnings defy global jitters – The Aus; Local content dearth 'a myth' – The West; Environmentalists target financiers – The Fin; Call for interest rate cut grows – The West

The Australian share market closed slightly higher, with late gains in financial and mining stocks helping the bourse out of earlier negative territory.

Prime Minister Julia Gillard is adamant the nation doesn't need a sovereign wealth fund when it already has a trillion-dollar superannuation treasure chest.

The coalition has seized on research which suggests retail electricity prices will be pushed up by at least 15 per cent for large users as the carbon tax is rolled out.

Opposition Leader Tony Abbott says Labor's Fair Work laws have "swung the pendulum" too far away from business and industry.

Qantas is to enter conciliation talks with long-haul pilots at Fair Work Australia in an attempt to resolve a continuing dispute over pay and conditions.

Paladin Energy managing director John Borshoff has called for an overhaul of the uranium pricing system, saying it is "peculiar" and disadvantages the commodity's producers.

Mining groups have warned that the heritage listing of the Kimberley may put projects in the region at risk, despite Woodside Petroleum's proposed gas hub at James Price Point being excluded.

Australian stocks opened flat, with weakness among the big retail banks and energy companies offset by gains in the telecoms and gold sector.

Concerns over Telstra's blueprint for the structural separation of its retail and wholesale arms should not delay the national broadband network (NBN) roll out, the competition watchdog says.

Mining giant BHP Billiton has backed the introduction of the new arbitration rules designed to speed up the resolution of cross-border and international commercial disputes.

The Australian dollar hit a four-week high overnight, as equity market strength was fuelled by suggestions the US Federal Reserve may yet act to boost the ailing economy.