AAP

Australia's major airlines say domestic travellers will bear the full brunt of the federal government's carbon plan.

The cost of building a new home will rise under the carbon pricing scheme, with the lowest emission building products suffering the greatest price rises, the building and construction industry says.

Almost one in six future first time property investors would drop out of the market if interest rates rose another half a percentage point, a survey has found.

Australian stocks closed sharply lower as reaction to the federal government's proposed carbon plan and a weak offshore lead pushed key market sectors into the red.

Western Australia is on track to become the world's largest or second-largest producer of liquefied natural gas (LNG) by 2020, Premier Colin Barnett says.

There is no respite in sight for renters in the booming Pilbara, with rents remaining at a staggering $1,650 a week, cementing its status as the most expensive area to rent in Australia.

The federal opposition is not conceding the carbon pricing scheme is a done deal as Prime Minister Julia Gillard and her ministers cross the nation talking up the plan.

If all goes according to the government's plan, the new Climate Change Authority is going to end up looking much like the Reserve Bank of Australia.

Foreign Minister Kevin Rudd has urged Australian businesses to recognise the vast opportunities available to them in China's growing services sector.

The carbon tax will force many older factories to close because they can't afford to switch to cleaner energy sources, Premier Colin Barnett says.

Shares in Carbon Conscious and CO2 Group jumped more than 12 per cent as investors bet the carbon sink developers would be key beneficiaries of the government's carbon pricing scheme.

Qantas long-haul pilots have voted to take protected industrial action against the airline for the first time in 45 years.

Wesfarmers has renewed its Australian and New Zealand reinsurance program for the new financial year and increased its event limit to $750 million due a spate of natural disasters.

The Australian share market fell sharply in opening trade as investors reacted to poor US jobs figures, China's inflation data and dumped stocks while they digested the carbon tax.

The Australian dollar was two thirds of a US cent lower, following news that Portugal's government debt had been downgraded to junk status by ratings agency Moody's.

US stocks ended the week with a modest gain, despite being punished on Friday by a disappointing jobs report that showed growth was still limping along in the world's largest economy.

Gillard's carbon blueprint – The Fin; Miners and big business say investment will suffer – The West; Inflation spike could force Reserve's hand on rates- The Aus; Gorgon too risky for UGL, Downer – The Fin; Wellard contemplates float – The West

The federal government's carbon tax is a vital step towards a cleaner, low-carbon economy, Western Australian unions say.

The carbon tax will damage the international competitiveness of many businesses and the resources sector, Western Australian industry groups say.

The carbon tax is east coast-centric and will increase the cost of living for middle to high income earners, Premier Colin Barnett says.

Prime Minister Julia Gillard says her government's carbon price will reduce Australia's carbon footprint by 160 million tonnes by 2020.

OneSteel is seeking to reduce its use of coking coal in steel manufacturing, but says the sector is technologically constrained in its ability to reduce carbon emissions.

Curtin University will close its English-language test centre in Bentley after a West Australian corruption hearing into the falsification of test scores for immigrants.

The Greens have called on the federal government to heavily scrutinise Thai-based oil and gas producer PTTEP over its plans to produce LNG from floating vessels.

Australians have turned their backs on buying luxuries over the past two years, but are still more willing to pay a premium to buy green products and services than US and UK consumers.

The Australian share market closed firmer after strong gains in the resources, retail and telecommunication sectors.

Truck drivers have staged a noisy protest through Perth's main business district, sounding their horns in a slow convoy of rigs to the state parliament.

Conservationists say they may appeal a federal government decision to allow Shell to drill near the World Heritage-listed Ningaloo Reef off the West Australian coast without an environmental review.

Is it the end of Tiger Airways Australia, and with it low airfares? The grounded budget airline maintains it will be back in Australian skies, and for the long term.

Victoria and NSW have received poor marks in terms of getting value for money out of the Building the Education Revolution program, while Western Australia achieved good outcomes, according to a report released today.

The man who was commissioned by the Western Australian government to review the state's industrial relations system has accused Premier Colin Barnett of trashing his reputation.

It will revolutionise our understanding of the universe and could reveal how galaxies and stars were formed.