AAP

The Australian dollar has opened a quarter of a US cent higher amid encouraging signs Greece may avoid a credit default.

US stocks closed higher on Tuesday amid hopes that Greece's government would survive a confidence vote, a crucial first step in defusing the country's debt crisis and stabilising Europe's finances.

Full-strength Foster's bid tipped – The Aus; Cattle industry fears Jakarta will impose ban – The Fin; Hunger driving trade reform – The Aus; Labor's ploy to cut power bills – The Fin; Murchison caught in vortex of Mid West share price crash – The West

Opposition Leader Tony Abbott is still hopeful of securing Senator Steve Fielding's support for a national vote on the carbon tax after his Family First party boss backed it.

Australian shares held on to early gains to put in their best performance in about a week on the back of firm offshore leads.

The Australian Greens have suggested the federal government's hands-off approach to the equal pay case could be costly for the budget bottom line.

A former building contractor has been charged over a scam at a Perth council involving alleged fake work invoices and kickbacks.

A second agency has flagged downgrading Woodside Petroleum's credit rating following last week's $900 million cost blowout and delays to its flagship offshore gas project.

State agriculture minister Terry Redman says diplomatic damage caused by Canberra's sudden cattle trade ban will prevent a quick resumption of live cattle exports to Indonesia.

A larger ash cloud from the Chilean volcano could disrupt travel at Australia's major airports for two days, affecting hundreds of thousands of passengers.

The central bank has again signalled that interest rates will increase "at some point" but says it will wait for more news on the state of the international economy and on Australia's domestic demand.

Brewer Foster's Group has rejected a $9.51 billion all-cash takeover offer from international beverage giant SABMiller, saying the bid undervalues the company.

The financial position of Australian households has deteriorated, a survey that measures household savings shows.

Commodity export earnings are forecast to reach a record $256 billion in 2011/12, an 18 per cent increase on the previous financial year, the federal government's commodity forecaster says.

Federal Treasurer Wayne Swan has described as a "cheap stunt" an opposition move to overturn a looming ban on mortgage exit fees.

Australian stocks have made a bright start, opening higher on the back of strong gains in the materials and metals sector.

US stocks closed higher on Monday, as early fears of eurozone contagion gave way to optimism that Brussels and Athens would tackle the Greek debt crisis.

The Australian dollar has opened more than half a US cent higher, as a resolution on the Greek debt crisis appeared nearer.

Stun guns not vital to Indon cattle deal –The West; NZ leader urges low start to carbon cost –The West; BHP may move on Woodside after shares dive –The Aus; Incitec still in race for Burrup –The Fin; After-school jobs back with Fair Work victory –The Aus

Australia's Agriculture Minister Joe Ludwig has described discussions with Indonesian officials aimed at resuming live cattle exports as constructive.

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.