AAP

The $900 million cost blowout and delay to Woodside Petroleum's Pluto project offshore in Western Australia could be a forerunner of more problems in the liquefied natural gas sector, says ratings agency Fitch.

The minutes of the June 7 monetary policy meeting, to be released tomorrow, should reveal whether the board and staff of the Reserve Bank of Australia (RBA) disagreed over the need for higher interest rates.

Motorists should enjoy a further fall in petrol prices over the next couple of weeks, given the recent tumble in global oil prices, Commonwealth Securities (CommSec) says.

The Australian stock market reversed early gains to shed three quarters of a per cent, as skittish sentiment triggered a broad-based sell-off.

The Australian Greens are prepared to compromise on a deal to finalise Prime Minister Julia Gillard's carbon tax, but say there is a long way to go before reaching agreement.

Virgin has suspended all flights out of Adelaide and Mildura on Tuesday as the leading edge of a volcanic ash cloud that caused six days' havoc for air travel returns.

Western Australia's peak business lobby group says state government "tinkering" with retail trading laws is just frustrating retailers and confusing shoppers.

Chi-X Australia has reached an agreement with the nation's main stock exchange operator, Australian Securities Exchange (ASX), for the provision of clearing and settlement services.

Retailers have won the right to cut minimum shift lengths worked by young casual employees to just one and half hours a day.

Independent federal MP Andrew Wilkie has demanded heads roll at Meat and Livestock Australia (MLA) for blighting Australia's animal welfare record.

Internet service provider iiNet has welcomed a decision by its largest shareholder to offload its holding, describing the move as logical.

Caltex Australia has downgraded its first half profit guidance to between $100 to $115 million, prompting shares in the oil refiner to fall more than six per cent.

The investigation by the International Atomic Energy Agency (IAEA) into whether a planned Australian-built rare earth refinery in Malaysia presents radioactive risks is due to report this month.

Opposition Leader Tony Abbott's push for a plebiscite on the carbon tax has been howled down by Labor and the Australian Greens as a stunt.

A Leighton Holdings and GE consortium has been awarded a $130 million contract to build the Mumbida wind farm south-east of Geraldton in Western Australia.

The Australian share market opened higher, supported by financials as investors cautiously returned to the market despite continued uncertainty over an outcome on Greece's debt crisis.

Call to boost carbon aid for industry – The Fin; Indonesia cattle trade may restart in 21 days – The Aus; Barnett rejects call to set aside coal – The Fin; Woodside ratings at risk over blowout – The Fin; Retailers intensify IR attack – The Aus

US stocks were mixed over the past week, with the Dow Jones industrials posting its first weekly gain since late April amid hopes Europe would tackle its debt crisis and some positive domestic economic data.

The Australian dollar has opened half a US cent higher as concerns about the possibility of Greece defaulting on its debts eased.

The coalition has rejected Assistant Treasurer Bill Shorten's assertion the opposition is split on the government's plans to boost compulsory superannuation.

A move by the Senate next week to overturn the federal government's planned ban on mortgage exit fees will end up hurting consumers, Choice says.

Depositing your hard-earned cash in a bank now yields less than owning bank shares, traders say.

Mining giant Rio Tinto Alcan will face a Darwin court next month over a petrol leak at its alumina refinery in Arnhem Land.

The WA opposition has branded Premier Colin Barnett irresponsible for revealing that ASIO was called in when the government fell victim to international cyber hacking.

The Australian share market ended the week with a flat result as a production downgrade from energy major Woodside put an end to a positive morning session.

The advertising company contracted to sell the federal government's carbon tax has started work on the campaign despite key independents warning no deal has been reached.

Rio Tinto intends to compulsorily acquire the remaining shares in coal miner Riversdale Mining after India's Tata Steel sold its 26 per cent stake.

Musician John Butler has joined a protest group blocking access to the proposed site for a $30 billion gas hub at James Price Point in the Kimberley.

A green group has released analysis that suggests exemptions for big polluters under the renewable energy target (RET) will cost households and businesses $7.1 billion by 2030.

The Australian share market opened higher today after two of the major United States indices rose, but worries continued that Greece's debt troubles could spread.

Labor's plan to create a single national regulator for offshore petroleum and gas storage is bad policy, Liberal Senator Alan Eggleston says.

The Australian dollar is a fifth of a US cent stronger, after the currency recovered some of its recent losses overnight and as the market waits for developments on Greece's debt crisis.