AAP

The Australian dollar ended the local session higher ahead of the US Federal Reserve Chairman Ben Bernanke's testimony on the economic outlook before the American Senate.

Administrators have been appointed to the retail group that operates the Borders and Angus & Robertson bookstores, Australia's largest booksellers.

AMP says the year ahead remains uncertain for the wealth manager despite overcoming market volatility and consumer caution to post a five per cent increase in full year net profit.

The Australian sharemarket closed at a two-and-a-half-year high on Thursday, propelled by signs of recovery in the United States economy and positive company earnings reports.

Wesfarmers has confirmed its potential interest in acquiring Australia's biggest ammonia producer, Burrup Fertilisers, which is in receivership.

Virgin Blue Holdings says it's increasing the fuel surcharge for flights to the US and is also lifting its baggage charges.

Demand for seamless globalised trading platforms is relentless and governments should be aware of this when approving ownership of bourses, ASX Ltd's chief executive says.

Union boss Paul Howes has hit out at critics of his aggressive campaign against Rio Tinto, dismissing a federal cabinet minister as "immature" and unnamed critics as "gutless bastards".

Iron Ore explorer Brockman Resources has received final environmental approvals to develop its flagship Marillana ron Ore Project in Western Australia.

Wesfarmers says it increased first half profit 33 per cent as it continues to be optimistic about the future performance of its retail businesses.

The Australian sharemarket was stronger in opening trade, following positive leads on Wall Street overnight.

Oil and gas producer Santos has reported a 15.2 per cent increase in full year net profit on higher prices for the fuels.

Solid earnings from computer maker Dell helped lift US stock markets Wednesday and as traders also welcomed an upbeat economic assessment from the Federal Reserve.

Bunnings Warehouse Property Trust has bought 10 Bunnings Warehouses and three properties to be developed for $241.7 million.

The Australian dollar has opened higher this morning, as weaker than expected US economic data saw the greenback lose value.

Barnett lays down the law on Oakajee – The Fin; Wesfarmers a suitor for Burrup Fertilisers – The Aus; Oswal tries to rescue shipping company – The Fin; Aspen men lose Margaret River project - The Fin; London law behemoth scoops up Perth firm – The West

Qantas Airways has signalled a double-digit increase in capacity across its group of airlines after posting a fourfold lift in first half net profit led by its mainline operations.

The Australian dollar ended the local session weaker and back below parity with the US dollar after Prime Minister Julia Gillard said she would not alter the proposed mining tax on super profits.

West Australian Premier Colin Barnett says the federal government's mining tax is still the "most hopeless piece of public policy" despite BHP Billiton announcing a record half-yearly profit.

West Australian Premier Colin Barnett should drop compulsory acquisition of land for a gas hub after a court ruling cleared the way for a negotiated deal, the Kimberley Land Council says.

Australian Workers Union boss Paul Howes is "out of touch" and trying to recreate the "glory days" of the union movement in his attack on Rio Tinto, West Australian Premier Colin Barnett says.

The Australian sharemarket was flat on Wednesday with investors taking profits after BHP Billiton announced a massive profit.

Cameron Mansell, the man accused of murdering Perth millionaire Craig Puddy, has fired his legal team for the second time.

The expected pace of economic growth over the next three to nine months has increased for the first time in nine months, according to a survey.

Qantas Airways says it will increase the use of wide-bodied aircraft and pour an additional 15 per cent capacity on the key business routes between Perth and Australia's east coast capitals.

Skilled job vacancies fell by 1.2 per cent in February compared to a month earlier, while over the year Western Australia was the only state to record an increase, national data shows.

Prime Minister Julia Gillard is refusing to make any changes to Labor's planned mining tax, despite Treasury figures showing the modified version will collect $60 billion less in revenue.

Westfield Group has reported a $1.1 billion profit for the year to December 2010, compared with a loss of $457.8 million in the prior corresponding period, the Sydney-based group said in a statement on Wednesday.

The Australian sharemarket has opened lower following negative leads from offshore trading as Wall Street finished lower on all major indices.

BHP Billiton has reported net profit of $US10.524 billion ($A10.51 billion) in the first half of financial year 2011, and says it is confident of the outlook for commodities as emerging markets continue to drive growth.

US stocks slipped on Tuesday as investors mulled mixed signals on the economy, including a disappointing retail sales report and stronger-than-expected growth in manufacturing activity in the New York region.

The Australian dollar has weakened this morning on expectations that China may soon tighten policy to rein in inflation.