AAP

Some of Australia's biggest industry groups have launched an advertising campaign against the federal government's proposed carbon tax.

Graziers, truckers and exporters are considering legal action against the federal government, saying its handling of the live cattle trade to Indonesia is sending them to the brink of ruin.

The relationship between the state government and Western Australia's main gas retailer has sunk even lower, with the premier refusing to meet with the company until it "calms down".

Australia's second largest listed gold miner Resolute Mining's full year production has declined six per cent to 330,859 ounces.

The Australian share market opened higher, shrugging off a flat performance on Wall Street overnight as markets await resolution of debt issues on both sides of the Atlantic.

The Australian dollar was stronger after trading sideways during the overnight session, as investors await developments from the US and Europe on debt problems.

US stocks fell slightly on Wednesday as investors waited for a resolution to the debt-ceiling standoff in Washington and digested a mixed bag of second-quarter earnings reports.

Treasury's warning on China – The Aus; Global meltdown fears send gold price soaring – The West;Court gags building unionist – The Fin; Barnett in backflip on $1b tax cuts pledge – The West; Meridian quits $78m mine deal – The West

The Australian share market closed strongly firmer for its best performance in over a week after a compromise was reached in the US to lift America's debt ceiling.

The company vying to develop the state's first uranium mine, Toro Energy, will next week provide its environmental plan for public scrutiny.

Australia is heading into the slowest patch of economic growth since the global financial crisis, bolstering the case for lower interest rates.

The government's contract with Telstra to build a national broadband network could be thrown out if the Liberal Party wins the next election, the opposition says.

The cyclones and floods that caused havoc on the state's mining industry earlier this year led to big falls in the production of iron ore, gold, nickel and copper, a report showed.

The state's gas retailer says slugging households with a 10 per cent increase on gas bills is a "bandaid solution" to cover up the state government's mismanagement of the energy sector.

Shares in Meridian Minerals jumped after the junior explorer's largest shareholder, a Chinese state-owned entity, revealed plans for a $67.5 million takeover offer.

Retailer Woolworths has reported a 4.7 per cent lift in annual sales to $54.1 billion despite a challenging year characterised by falling prices, natural disasters and declining consumer sentiment.

BHP Billiton says it achieved production records in four commodities in 2010/11, with production of iron ore posting its 11th consecutive record.

The Australian share market opened significantly higher on Wednesday as strong corporate earnings in the US and hopes of a resolution of that country's debt problems supported strong gains on Wall Street.

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.