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Engineering firm Downer EDI has won a $73 million contract to build locomotives for iron ore miner Fortescue Metals Group.

The Australian dollar has fallen to a one-week low after weak manufacturing data from the US and China sparked renewed concerns about global economic growth.

US stocks have slid sharply, with the Dow Jones Industrial Average sinking two per cent, as disappointing economic data from China and Europe followed the Federal Reserve's slashing its growth fore

The Australian dollar is a a third of a US cent lower after data showed China's manufacturing sector continued to contract.

The Australian share market closed sharply weaker on negative economic news.

Myer shares have slumped to a record low, but chief executive Bernie Brookes insists the troubled department store chain has a positive future.

Victoria-focused A1 Consolidated Gold has slipped on debut on the Australian Securities Exchange, the company's shares losing 6.5 cents on its first day on the local bourse.

Construction and contracting group VDM has told its shareholders to brace for a second half loss of $5 million, after the company took a $4.8 million hit on one of its projects.

Mining giants BHP Billiton and Rio Tinto will not be affected by new laws in the United Kingdom requiring firms to list their greenhouse gas emissions because they say they already do so.

Aspire Mining has taken a step towards the development of its Ovoot coking coal mine in Mongolia, launching discussions with Russia's main rail operator to provide the mine access to the country's

Contractor Macmahon Holdings has won a $220 million contract to realign the Great Northern Highway at Port Hedland.

Perth-based broking firm Elliott Insurance Brokers has acquired The Accord Insurance Brokers Group for up to $2 million.

Former WA Liberal leader Matt Birney has gone back to his revhead roots, taking up a general manager position at Automotive Holdings Group.

ustralian households are paying banks an average of $470 a year in fees and charges.That might sound like a lot, but it is less than the year before.

Troubled surfwear company Billabong has launched a $225 million fund raising venture and issued another profit warning amid tough trading conditions in the retail sector.

With properties prices high and the housing market slow, Australians are holding on to their homes for longer.

Engineering contractor RCR Tomlinson has increased its profit expectations for this financial year, tipping a 15 per cent jump on previous predictions.

Australians are moving to the nation's mining states and paying handsomely to live there.

Fairfax management has agreed to halt their restructure plans and proposed job cuts while a consultation process with unions is under way, unions say.

Pacific Energy has announced it has won a deal to build a power station at the Tropicana gold project, its largest project win for several years.

Australian shares opened flat after the US Federal Reserve announced it would extend its bond-swapping program which led to falls on Wall Street.

As Prime Minister Julia Gillard struts the world stage emphasising the virtues of the Australian economy, there are signs back home not all is going well.

US stocks have closed mostly lower after the Federal Reserve extended its bond-swapping program, known as Operation Twist, for six months to help boost the flagging economy.

Perth-based car dealer network Automotive Holdings Group has moved to strengthen its Victorian presence, snapping up a Melbourne-based Ford dealer for $2 million.

The Australian dollar is higher as the market awaits whether the US central bank goes ahead with further stimulus measures for the American economy.

The housing industry is reeling after national homebuilding starts dropped below global financial crisis levels, falling 12.6 per cent in the March quarter.

The Australian share market finished slightly higher as cautious investors await any action by the US central bank to stimulate the faltering American economy.

Prime Minister Julia Gillard has warned of "further stumbles" in the global economy, but says Group of 20 leaders have made good progress toward restoring growth and stabilising European banks.

Greens MLA Giz Watson has applauded a move by the state's Mining Warden's Court to reject three bauxite exploration licenses in the tourist-haven southwest region.

Rio Tinto and its partners have agreed to spend $US5.2 billion expanding their massive iron ore operations in the Pilbara, with Rio saying the demand outlook is positve and that competing supp

Embattled miner Atlantic has confirmed it is in discussions with the state government regarding a deferred payment of royalties for its Windimurra vanadium project in the Mid West.

People hoping for some relief from the carbon tax debate after the pollution price begins in 10 days shouldn't hold their breath, Climate Change Minister Greg Combet says.