AAP

US stocks surged on Tuesday after companies including IBM, Coca-Cola and Wells Fargo reported strong second-quarter profits.

The Australian dollar was trading nearly one US cent higher this morning, after a bi-partisan plan to avoid a US debt default emerged in the US overnight.

PM's global push to save carbon tax – The Fin; Inflation key to rate rise – The Aus; WA ups ante on mining royalties – The Fin; Woodside puts brakes on Pluto train – The Aus; Future of island's historic lodge founders on rocky receivership – The West

The jailing of a Western Australian company director for tax fraud should send a clear message to everyone, the boss of the Australian Tax Office has warned.

Innovative businesses will find ways to reduce the nation's emissions by 5 per cent by 2020 without a carbon tax, under the coalition's direct action plan, Opposition Leader Tony Abbott says.

Treasurer Wayne Swan says the nation's coal and gas industries have a bright future considering the investment they are attracting in the knowledge of a carbon price.

OZ Minerals has maintained its full year copper and gold production targets but says its priority for increasingly profitable copper may dampen gold production.

Australian exporters looking to protect themselves against currency moves may be eligible for a foreign exchange guarantee of up to a quarter of a million dollars from the federal government.

The Australian share market closed flat as uncertainty about debt issues in the US and European weighed on investors.

Shares in Grange Resources rose after the iron ore producer said it was in talks with companies near its Savage River mine in Tasmania about possibly providing processing services.

Shares in nickel miner Western Areas rose after the it announced it had exceeded its full year production forecast by 10 per cent.

Qantas long-haul pilots will take industrial action for the first time in 45 years to stop jobs going offshore, but they say they have no desire to disrupt flights.

An Aboriginal group wants the state government to appoint a mediator to help end a dispute with iron ore producer Fortescue Metals over a proposed multi-billion dollar mine in the Pilbara.

The central bank says time is on its side and it will wait for more economic data before moving on interest rates.

Woodside Petroleum shares edged higher after stronger commodity prices increased its June quarter revenue.

The Australian share market opened lower this morning, in the wake of falls on United States and European markets overnight.

The Australian dollar is slightly higher, as hopes strengthen that Europe and the US are edging closer to resolving debt problems.

US stocks took a beating on Monday as the debt-ceiling battle in Washington and the broadening debt crisis in Europe weighed on investor confidence.

Foreign worker solution for Perth – The West; $21bn bid bonanza for resources – The Fin; WA power experts seek grid constraints – The Fin; EnGen changes hands for $101m – The West; Global funds target local property – The Fin

Mining magnate Andrew Forrest has been accused of being a "corporate bully" in pushing ahead with an iron ore project in the Pilbara without traditional owner consent.

The Australian share market rebuffed positive offshore leads to finish slightly lower as losses in energy and financial stocks and heavy falls in News Corporation weighed on a benign market.

Premier Colin Barnett will ignore a recommendation by the state's economic watchdog that homeowners bear 90 per cent of the cost bury powerlines.

Two former directors of failed stock lender Opes Prime have formally pleaded guilty to breaching their duties as company directors.

Australia's biggest trade union has embraced the federal government's carbon pricing scheme, giving Labor a much-needed boost on an otherwise bad day.

Prime Minister Julia Gillard believes Australia's underlying economic fundamentals are strong and ripe for reform despite unease in Europe and the US.

Western Australia's economy is now judged as the strongest in the nation, while NSW's financial performance remains in the doldrums, according to the latest CommSec State of the States report.

Santos will buy the majority of Eastern Star Gas's coal seam gas permits in a deal worth $924 million.

Hanlong Mining Investment has made its second bid for a Western Australia-based resources company in a week, unveiling a takeover offer for Africa-focused iron ore miner Sundance Resources that valued it at $1.44 billion.

Australian stocks have opened lower, defying a positive finish on Wall Street as weakness in the energy and consumer discretionary sector, particularly another big decline for News Corporation, offset gains among telecoms and gold stocks.

The Australian dollar has started the trading day weaker, with both Europe and the US still struggling to find a solution to ward off potentially catastrophic sovereign defaults.

US stocks rose on Friday after a blockbuster earnings report from Google and a pair of multibillion-dollar takeover bids helped overshadow the debt-ceiling debacle in Washington.

Miners move to lock in labour – The Fin; Growth in west to soar by 6.75 per cent – The Aus; Citic's budget blown as costs soar – The Aus; Job cutbacks looming in banks, retail – The Aus; Raisama steps up oil and gas project – The Fin