AAP

Interest rates could be on their way up as early as June if official data due on Thursday confirms a further tightening in the labour market, economists say.

Shares in Spotless Group have jumped 14 per cent after the group received a $657 million takeover offer from a private equity firm.

Shares in Caltex Australia rose after the oil refiner and marketer flagged a lift in first half production.

Qantas engineers will stop work for an hour on Friday following a breakdown in wage negotiations with the airline.

BHP Billiton chairman Jac Nasser says the shift of economic weight and global rebalancing to Asia is the most significant event since the industrial revolution.

Business conditions worsened in April, hit by the rising Australian dollar and by an anticipated interest rate rise by the central bank, a survey shows.

Dentistry clinics, primary health care training facilities, renal dialysis chairs and patient accommodation are among the projects being funded by the federal budget for regional Western Australia.

The number of jobs advertised online and in newspapers has risen for the 12th month in a row, but recent trends suggest Australia's running as a two-speed economy, a survey shows.

Treasurer Wayne Swan has promised substantial savings in Tuesday's federal budget, countering accusations from the opposition that the government has lost control of the purse strings.

The Australian share market has opened higher as sentiment benefited from better than expected jobs data out of the United States.

The Australian dollar was trading higher today, after better than expected US employment data boosted risk sentiment on Friday.

Swan to boost skilled migrants – The Aus; Rampaging dollar 'could hit $US1.70' – The Aus; State agency 'wastes' millions – The West; Tax Office targets Bartlett's friends – The Fin; MinRes Kwinana port win - The West

The biggest corporate hiring spree in five years ended a weeklong slide in the US stock market on Friday.

Leonora has put its hand up to house more asylum seekers as the government seeks to ease overcrowding at its Christmas Island detention centre.

The federal government is adamant returning the budget to surplus is not reliant on continued growth in China, as it prepares to introduce its mining tax next year.

Takeover target Equinox Minerals has posted a first quarter loss of $21.4 million due mainly to costs associated with the copper miner's withdrawal of its own takeover bid, for a Canadian company.

Business leaders want next week's federal budget to deliver increased productivity, by addressing shortages in skilled labour and infrastructure, to rectify the country's increasing economic disparity.

Australian shares closed marginally weaker despite recovering from earlier lows caused by steep falls overnight in commodity prices.

The silver price has overshot the metal's fundamentals and a correction is due, an analyst says.

West Australian shadow attorney-general John Quigley says the government is lucky it's been able to plead guilty to such a minor charge in relation to the death in custody of an Aboriginal elder.

Travelling photographers are scamming thousands of dollars from indigenous families in Western Australia's Kimberley region, a consumer agency says.

"Short-term weakness, long-term strength" has been Treasurer Wayne Swan's mantra in the build up to his fourth budget.

Federal government climate adviser Ross Garnaut will release additional papers at the end of the month detailing how much money is expected to be raised by Labor's carbon tax and how it should be spent.

Australian construction activity fell in April for the 11th consecutive month, a report says.

Sharp falls in resources stocks after drops in commodity prices have seen the Australian share market open lower.

The Australian dollar was at two-week lows this morning after commodity prices plummeted overnight.

US equity markets plunged on Thursday after oil and gold prices dropped, pulling energy and commodity stocks sharply lower.

Pay young to head west, Barnett says –The Aus; Industry digs in its heels on PM's carbon tax –The West; FBT reform saves budget $1 billion –The Fin; HBF fights means test rebate threat –The West; Former Great Southern director tells of mistrust –The West

The federal government is to wind back generous subsidies for home solar electricity panels, a move welcomed by the industry as providing long-term certainty.

The federal government's draft marine parks plan for Australia's southwest will affect the commercial fishing industry, but the environment minister says it will be compensated.

The Australian share market recovered from a negative start to close marginally firmer.

Rio Tinto chief executive Tom Albanese has dismissed speculation the mining giant could be planning a takeover bid for aluminium giant Alcoa.