AAP

A Chinese state-owned uranium firm has launched a takeover bid for Extract Resources' largest shareholder, Kalahari Minerals.

Militant West Australian unionist Joe McDonald has had his appeal against a $8000 fine for taking unlawful strike action at a Perth construction site dismissed in the Federal Court.

Australia set a new natural gas production record in 2010, while the value of liquefied natural gas exports also hit fresh highs.

Greens Senator Scott Ludlam has praised Prime Minister Julia Gillard for taking a "gutsy" stance on climate change despite popularity for the government sinking to record lows.

Rare earth miner Lynas Corporation says it may sell its Crown polymetallic deposit at Mount Weld in Western Australia to Forge Resources, but that any transaction would not be material.

Dairy industry representatives have called for the competition watchdog to investigate how supermarket operators set prices for milk.

Prime Minister Julia Gillard says she can convince the public to come around on carbon pricing.

The Australian share market opened lower today, as rising oil prices continue to threaten economic recovery by pushing up manufacturing and transport costs.

The Australian dollar opened lower this morning, after Greece's debt was downgraded below junk status by rating agency Moody's.

US stocks sank Monday as Libya veered toward civil war and unrest continued to roil across Arab countries, driving crude oil above $106 a barrel in New York.

Shell keen to drill off proposed heritage reef – The Aus; Scheme liquidators hamstrung – The West; Unions demand back pay to 'slaves' – The West; ASX faces another threat as rival seeks licence – The Fin; Orica moves on Burrup purchase – The Aus

Almost 100 dairy producers, shop owners and organisations are rallying against a decision by the major supermarket chains to slash the cost of milk.

The Australian sharemarket closed lower on Monday as uncertain investors deserted miners and financial stocks, leading the market downwards.

The Australian economy is not doing too badly, but it is hardly breaking any speed records.

Nine Entertainment has sold its 49.1 per cent stake in website operator Carsales.com for $565.5 million.

Prime Minister Julia Gillard will push for a better deal for Australian exporters when she meets with US President Barack Obama at the White House.

Petrol prices rose to a near 29-month high in the past week, and motorists should prepare for fuel to rise by another four cents a litre in the next fortnight, an economist says.

Australian construction activity contracted for the ninth consecutive month in February amid tight credit conditions, weaker demand and higher interest rates, a report says.

Lower milk prices won't hurt the dairy industry, supermarket Coles says.

The number of jobs advertised online and in newspapers rose for the 10th straight month in February, suggesting demand for labour is accelerating reconstruction in Queensland continues.

The Australian share market followed Wall Street lower on Monday as oil prices surged on continued political tensions in the Middle East and several local stocks traded without a dividend.

Shares in Ramelius Resources rose after it reported high-grade gold results from deeper drilling its Wattle Dam mine in Western Australia and was admitted to the S&P ASX 300 index.

Crescent Gold has downgraded its third quarter gold production forecast after flooding hampered its Laverton mine in Western Australia.

Hong Kong-based Wah Nam International Holdings has extended its parallel takeover bids for West Australian iron ore explorers Brockman Resources and FerrAus by one month.

Australia's resource giants are taking measures to increase the amount of local work on major projects, West Australian Premier Colin Barnett says.

The Australian sharemarket ended the week on a high note, driven by gains in the materials sector after a positive lead from Wall Street overshadowed geopolitical concerns in the Middle East.

Rio Tinto says Sir Rod Eddington and Yves Fortier will retire as non-executive directors of the mining giant at the end of the annual general meeting on May 5.

Wayne Bergmann, the Kimberley Land Council head who has spearheaded Aboriginal negotiations over a controversial gas hub near Broome, is stepping down from the role.

Australia's biggest gold miner Newcrest Mining has nearly doubled its estimate of deposits at a mine in Papua New Guinea to more than 30 million ounces of gold.

The Australian sharemarket opened higher this morning after a positive lead from United States markets on the back of encouraging US economic data.

US stocks soared on Thursday sparked by new data showing steady improvement in the jobs market, retail sales and the economy's service sector, and as oil prices eased slightly.

The Australian dollar was weaker this morning after a battery of US data signalled the US economic engine is firing up once again.