AAP

Parliament will investigate a milk price war after concerns the major supermarkets are attempting to drive out competition.

Telstra Corporation's push to win back market share has led to a steeper than expected fall in first-half net profit, even though it netted more than one million new customers.

After three gruelling months, the Australian Baseball League is ready to crown its inaugural champion.

Rio Tinto has beaten expectations with a near $US10 billion ($A9.93 billion) leap in annual earnings due to strong prices for its key products of iron ore and copper.

Australian shares have risen slightly, taking the All Ordinaries over 5,000 for the first time in 10 months, as investors waited on the release of Rio Tinto's first half result and analysed other profit reports.

Prime Minister Julia Gillard will get a national agreement on health and hospital reforms if she can separate the GST from the deal, West Australian Premier Colin Barnett says.

Backers of West Australian Labor leader Eric Ripper have been rewarded, with the leader of the reformed right-wing faction Michelle Roberts believed to have been handed the shadow treasury portfolio.

Leighton Holdings subsidiary Thiess and joint venture partner Siemens have won a five-year deal with Telstra worth $350 million.

A Brazilian steelmaker has increased its stake in Riversdale Mining, fuelling speculation of a potential stalemate in Rio Tinto's $3.9 billion takeover bid for the Africa-focused coal miner.

Qantas has rejected claims that the jobs of its pilots are under threat, after a union threatened strike action.

Australia's unemployment rate stayed steady at at two-year low of 5.0 per cent in January, despite the economic impact of the Queensland floods.

The federal government has welcomed an agreement between Telstra and the NBN Co finalising key commercial terms for the rollout of the national broadband network.

Iron ore miner Atlas Iron has amassed a controlling stake in iron ore explorer Giralia Resources NL.

The Australian stock market has opened flat after gains throughout the week, with small movements across the board.

The Australian dollar opened domestic trade lower today, as currencies struggled to find direction during a cautious offshore session.

Taj-on-Swan buyer emerges – The Fin; Grylls floats supertown plan to revive the bush – The West; Hatfull hits back at bid to oust him – The West; Wheatbelt farmers faced with soil getting drier – The Aus; Big WA gas find for Chevron – The Aus

US stocks have closed mixed in listless trading as investors shrugged off Federal Reserve chairman Ben Bernanke's testimony to Congress and merger and acquisition activity in the stock exchange sector.

The West Australian government's long awaited legislation for fixed-term elections is expected to be introduced next week nearly two and a half years after it was promised.

Australia's economic outlook looks bright, despite a gloomy background of developed economies struggling to shake off the effects of the global financial crisis.

The Australian bourse closed in the black for the third consecutive day after a better than expected profit result from Commonwealth Bank drove gains in the financial sector.

The Australian dollar was lower today, as currency traders waited for local jobs data.

Stockland has upgraded its full year earnings after doubling first half profit from the previous corresponding period because of a solid increase in commercial and residential property sales.

Authorities in Western Australia have defended their warning procedures and burn-off regimes in the wake of a devastating bushfire that destroyed 72 homes in the Perth Hills.

Shares in Boral gained nearly six per cent after the building products supplier reported a 36 per cent rise in first half net profit.

Perth-based resources sector services provider NRW Holdings has flagged a rise in first half net profit of about 30 per cent, compared to the previous corresponding period.

Consolidated Minerals has won a Supreme Court case against JP Morgan regarding fees the investment bank had charged for advice to the manganese and chromite miner.

When then premier Alan Carpenter chose to make 2008 an election year in Western Australia, Labor stalwart Kim Beazley joined a handful of optimistic Liberals in foreshadowing a change of government.

BHP Billiton Ltd has posted steep production declines in several metals and minerals due to shut-downs and other difficulties with strong headline numbers, at its key Western Australian interests failed to excite analysts.