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Perth's housing recovery has hit a stumbling block, with prices dropping in April and new home sales declining in March, but analysts are describing the falls as a temporary blip.

Australian stocks have started the month weaker, with investors appearing to book profits after the market hit a fresh five-year high yesterday.

The prime minister's warning about a tough budget outlook have wide implications; they apply to state and federal governments, now and into the future.

A cocktail of negative factors has left many Western Australian farmers worried about the coming season, according to new survey results.

The Australian dollar has reached its highest level in two weeks amid gains on share markets and disappointing US manufacturing figures.

US stocks have risen amid solid data on housing and consumer confidence and as reports of a $US17 billion ($A16.5 billion) Apple bond sale cheered investors.

Focus Minerals has put its Laverton gold mine on stand-by, after a review of operations found the project is no longer commercially viable due to increasing costs and the falling gold price.

Australian stocks have closed higher as ANZ's $3 billion plus half-year profit dragged its shares to record highs and the local market along for the ride.

There are plenty of theories floating around today as to why the Australian Government has failed so badly at managing its finances but behind the politics is a simple fact; it has never understood that business creates wealth and jobs, not government.

Gindalbie Metals has secured an agreement for a second $30 million loan from its joint venture partner in the Karara magnetite iron ore development, after delays in the project's production ramp up

Waste management technology company Tox Free Solutions has expanded its footprint on Australia's east coast, acquiring three related firms for $85 million.

Endeavour Mining has sold its 38.5 per cent stake in Toronto-listed Namibia Rare Earths for $5.3 million.

NRW Holdings' joint venture with indigenous group Eastern Guruma has won a $180 million deal at Rio Tinto's Nammuldi iron ore operation in the Pilbara.

Diversified miner Rio Tinto has opened its $US2.2 billion Argyle underground diamond mine in the eastern Kimberley.

Woodside Petroleum has announced a new agreement with Royal Dutch Shell to lay out an action plan to develop the Browse gas field off the Western Australian coast with floating processing technolog

Marengo Mining has entered a convertible notes agreement with its major shareholder to raise $US15 million.

Poseidon Nickel says its historic Windarra nickel mine will cost $197 million to re-start, with a feasibility study flagging a 10-year mine life and first production in 2014.

Finance Minister Penny Wong has indicated the government is considering imposing a levy to fund its national disability insurance scheme.

Australian stocks have opened firmer, with the big retail banks leading the broader market higher.

We need to get over our blinkered opposition to high-density living in Perth.

ANZ Bank has posted a first half profit slightly above expectations, and increased its dividend.

The Australian dollar has rallied to its highest level in 11 days following gains on global share markets.

The S&P 500 has closed at a fresh record high amid renewed confidence in the eurozone after the formation of the Italian government.

The prime minister's aid package for farmers has carried the day when compared to the Barnett government's more modest offering.

The Australian dollar has closed firmer, pushing above 103 US cents and moving in line with the rising price of gold.

Indian conglomerate Lanco Infratech will pay Perdaman Chemicals and Fertilisers $7.5 million plus legal costs as settlement for a long-running $3.5 billion legal battle that erupted after Lanco pur

Oil and gas producer Santos has committed to a $100 million drilling and appraisal program over the next 12 months in the Northern Territory.

Claims of 457 visa rorts are just a desperate attempt by the federal government to draw attention away from its border protection failures, the opposition says.

Australian shares closed on a positive note as the four major banks lifted the market.