AAP

Former Leighton Holdings chief executive Wal King says he hasn't been offered, nor is he seeking, a position on the construction company's board.

Retailers will be forced to cut down on staff and reduce hours for casuals on the back of the minimum wage rise, a lobby group says.

Australia's lowest paid workers will get an extra $19.40 a week but unions say the increase is not enough and fails to close the gap between minimum wage earners and the rest of the workforce.

Qantas hopes 350 or five per cent of its cabin crew will take up voluntary redundancy, as the airline tries to cut costs in the face of rising jet fuel prices.

Rio Tinto has secured land use partnerships with five indigenous groups, paving the way for the group's planned $3.9 billion Pilbara iron ore expansion.

The Australian market has opened flat after suffering its worst one-day performance in a year yesterday.

The Australian dollar was higher this morning, helped by some good news about he Greek debt crisis and poor US economic data.

Rio brokers indigenous deal – The Fin; Pilbara miners could be hit with higher port bills – The West; Mine v wine debate heats up – The Fin; Wesfarmers to keep cash for expansion – The Fin; Cattle baron lays down export law – The Fin

Wall Street stocks finished mixed on Thursday as investors braced for the May jobs report and digested Moody's warning on the US debt.

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.