AAP

The rise in the number of home owners falling behind in mortgage repayments is concerning, a senior executive of a major Australian bank says.

Overseas online retailers are still a big threat to local businesses and recent figures are proof tax reform is needed, a lobby group says.

More than $33 billion was wiped from the value of the Australian share market, which in fell in line with other global bourses on renewed concerns about a world economic slowdown.

Transport Minister Troy Buswell says the state will be relying on revenue from the federal government's mining tax to help fund one of its major road projects.

Illegally harvested sandalwood in the Goldfields is fetching millions of dollars on the black market, a state government department says.

Fremantle MP Melissa Parke has lodged a petition with the federal parliament signed by 40,000 Australians calling for an end to live animal exports.

Constructing a new stadium at Subiaco would be "more problematic" than building at the government's preferred site of Burswood, West Australian Transport Minister Troy Buswell says.

Taxpayers subject to the Fringe Benefits Tax on their motor vehicles will now pay a flat rate of 20 per cent regardless of the kilometres they clock up.

The Department of Treasury has already started making preparations for the federal government's planned two-day tax forum in October.

The world's biggest resources company, BHP Billiton, has exercised its right to buy a gas exploration permit offshore Western Australia from Tap Oil, ahead of a Japanese consortium.

Research funded by the federal government has raised doubts about the effectiveness of its proposed expansion of marine parks in Western Australian.

The outlook for interest rates has not changed appreciably, despite a surprisingly strong rise in retail trade in April, as coal exports are struggling to recover.

As Australian retailers wake up to a growing demand from customers for internet-based shopping, some of the major players are vying to become the biggest and best online shopping mall.

Treasury secretary Martin Parkinson has admitted the latest national accounts, showing a sharp drop in growth in the March quarter, was marginally larger than he had expected.

Six West Australian workers employed by an engineering and construction company have been sacked following allegations some were planking on site while others watched.

The last nine Borders book stores in Australia, including Perth's Hay Street shop, will close with another 315 jobs to be lost.

Federal government climate adviser Ross Garnaut says more "true information" is getting out on global warming and the need for Australia to do its fair share to solve the problem.

Retail trade figures for April rose higher than expected, led by a recovery in department store sales.

Ord River Resources has signed a memorandum of understanding with its Chinese construction partner to develop a $US600 million ($A565 million) alumina refinery in Laos.

Wesfarmers says heavy rainfall during the April quarter at its Curragh metallurgical coal mine in Queensland has hampered recovery efforts, forcing the company to downgrade sales guidance.

Qantas is investigating how five rats got on board an aircraft that had to be grounded in Sydney on Tuesday.

Treasury secretary Martin Parkinson has admitted the latest national accounts, showing a sharp drop in growth in the March quarter, was marginally larger than he had expected.

Rio Tinto says a tie-up with Chinalco, China's largest alumina producer, will give it unprecedented access to explore resource-hungry China for copper and other minerals.

The Australian securities market has opened more than 1.5 per cent lower after gains were wiped off US markets overnight.

The Australian dollar was over one US cent lower and investors sought safe have assets after batch of weak US economic data overnight.

Fears that the US economy is stalling sent the Dow Jones industrial average down 280 points, erasing more than a quarter of the stock market's gains for the year.

Labor eyes $20 a tonne for carbon – The Aus; WA powers as disasters rock rest of country – The West; Rottnest resort bid hits trouble – The West; Forrest steps back at FMG – The Aus; Farmer pins blame on abattoirs – The West

Former Treasury secretary Ken Henry has been appointed as a part-time adviser to Prime Minister Julia Gillard.

West Australian Treasurer Christian Porter says he expects his federal counterpart Wayne Swan to step in to stop the state being overpenalised for lifting royalty rates on iron ore.

Australian stocks overcame a weak start to finish flat, as market players digested positive manufacturing data from China and better-than-expected domestic gross domestic product (GDP) figures.

West Australian Health Minister Kim Hames has told a budget estimates hearing he prefers the more expensive option in redeveloping the state's largest hospital.

Retailers are urging the Reserve Bank of Australia to leave interest rates alone when it meets next week, after Australia's economy suffered its biggest quarterly contraction in two decades.