AAP

Nearly 11 years on since it was first introduced the federal grant for first home owners still stands at $7000, even though the average house price has more than doubled in that time.

A record 14.3 million hectares of wheat is expected to be planted for the winter crop, a seven per cent increase on the previous season, the federal government's commodity forecaster says.

Consumer sentiment has fallen to its lowest level in two years, as households worry that interest rates will rise soon, a survey shows.

Qantas Airways shares slumped to their lowest level since May 2009 after the carrier said that weak domestic conditions prompted a cut in capital expenditure and fewer planned aircraft deliveries for 2011/12.

Australian shares have opened slightly weaker, despite positive leads from the US and Europe, after a strong day of local trading yesterday.

Rio Tinto says it will accelerate its Pilbara iron ore expansion program by spending $US350 million ($A329 million) on early works and procurement.

Mining magnate Andrew Forrest does not mind paying higher royalties to the West Australian government, saying they help the salaries of teachers and nurses and build roads.

The Australian dollar is trading half a US cent higher this morning, after better than expected Chinese and US data encouraged investors into riskier investments.

Budget pain hits state reforms – The Fin; Gillard support hits record low – The Aus; Non-mining business still battling – The Fin; Grubb investors set for belated windfall – The West; Top WA men named – The Fin

US stock markets jumped more than one per cent on Tuesday, giving investors some relief after a six-week losing streak culminated in a brutal sell-off last week.

The two-speed economy is alive and kicking, albeit with only one of its legs.

West Australian Premier Colin Barnett says it's highly likely the state will become an emergency supplier of gas to Europe to ensure its energy security.

Insurance Australia Group is phasing in premium rises across its businesses as it anticipates higher reinsurance costs next calendar year.

West Australian Deputy Premier Kim Hames says he is looking at stepping out of politics after one more term in office.

Promising economic data out of China saw Australian shares stage a turnaround, closing higher despite significant falls earlier in the session.

West Australian Premier Colin Barnett says there's no reason the live cattle trade to Indonesia cannot resume immediately to existing abattoirs that meet Australian standards.

Prime Minister Julia Gillard insists that overall "there will be more jobs in mining" under a carbon tax even if some of the country's dirtiest coal mines are forced to close.

More than 1,000 people are set to lose their jobs as 140 outlets in the Colorado clothing group close in a major restructure.

Junior explorer Iron Road says a prefeasibility study shows its flagship Central Eyre resource will be among the nation's top tier magnetite projects.

An aircraft safety expert says airlines must take into account the weather and advice from experts when deciding whether to reopen routes affected by volcanic ash.

West Australian Premier Colin Barnett has returned home from a trip to Europe saying the federal government's proposed resource tax is seen there as a risk to investment.

The federal parliament's sole veterinarian says Australia faces its own animal welfare disaster if 150,000 cattle can't be exported.

Federal Treasurer Wayne Swan believes that while some sectors of the economy are struggling with a high Australian dollar, Asia will provide a wide range of opportunities.

Businesses find that being a responsible corporate citizen pays dividends in terms of recruitment, public attitudes and cost management.

Virgin Australia and Delta Air Lines have received US government approval to form a joint-venture on trans-Pacific routes, the two airlines said in a joint-statement.

Resources Minister Martin Ferguson says the federal government will deliver on its mining profits tax as agreed with industry, and not bow to pressure from some mining bosses or the Labor left.

Australian stocks opened weaker this morning, with metals, mining and materials companies leading the broader market lower.

US stocks were mixed on Monday, with markets largely stable after a brutal sell-off last week driven by concerns about a slowing economic recovery.

The Australian dollar is marginally lower this morning as traders await key data from the United States and China, expected to show slow growth in both economies.

ATO's stance boost bankruptcies–The Fin; Carbon tax 'will cost 4000 coal jobs'–The Aus; 'A penalty for being Australian': Forrest–The Fin; Indonesia wants cattle trade restart in weeks–The West; Archer adds Quick Service chicken chains to menu-The West

The Australian stock market will reopen tomorrow after the three-day Queen's Birthday long weekend on the back of weak leads from overseas.

The science fiction film Moon portrayed a future where the lunar surface had become a mine site and driverless machines extracted helium-3 for energy.