AAP

Santos' full year net profit has dropped by nearly a third but the oil and gas producer still expects to meet its production targets in 2013.

James Packer's casino operator Crown has posted a 34 per cent drop in first half profit, as weak consumer sentiment and refurbishment work affected its business.

The Australian market has opened stronger despite a fall on Wall Street overnight, earning back some of Thursday's massive losses.

The Reserve Bank of Australia says the mining investment boom is close to its peak.

Troubled surfwear retailer Billabong has posted a $537 million first half loss and downgraded its expectations for underlying earnings in the full year.

US stocks closed lower Thursday, hit by weak data on US manufacturing and a glum turn downward in the much-watched Markit purchasing managers index that suggested more recession in the eurozone.

Oil and gas giant PetroChina wants to buy part of ConocoPhillips' stake in two oil and gas exploration projects in Western Australia.

Woolworths has questioned calls for more supermarket regulation as the competition watchdog signals a renewed focus on market power.

The Australian dollar is more than one US cent lower after speculation the US Federal Reserve could wind back its stimulus program earlier than expected caused a slide in global share markets.

Burswood is the best spot for the new $1 billion football stadium, according to West Coast Eagles coach John Worsfold.

More than $36 billion has been wiped from the value of Australian shares in the market's largest one-day decline in nine months.

The issue of electricity prices has finally emerged in the state campaign after weeks of both major parties obsessing over major infrastructure projects.

Mark McGowan has done another flip flop on Perth's waterfront development, the incumbent Liberals say, suddenly backing a new plan and calling for the immediate closure of Riverside Drive.

Wealth manager AMP has posted another year of profit growth as the consolidation of its $4 billion purchase of AXA Asia Pacific coincides with improving financial markets.

The federal opposition says earnings on retirement savings are lower than they should be because of Labor government red tape.

Share market operator ASX's first half profit has fallen by 2.5 per cent due to lower investor activity in the first three months of the 2012/13 financial year.

Construction materials maker Adelaide Brighton has built a full year profit increase despite weak home building activity, but the carbon tax is causing concern.

Telstra is axing 648 jobs from its troubled Sensis division, which runs Yellow Pages, White Pages and Trading Post.

Alumina's full year net losses have blown out and the troubled aluminium producer is bracing itself for more uncertainty ahead.

Embattled media group Fairfax says gloomy conditions in the advertising market are still dragging on its revenues.

Qantas has nearly tripled its first half profit as it begins to realise the benefits of recent tough decisions, its chief executive says.

US stocks have piled up losses after Federal Reserve minutes showed divisions over asset purchases, with some officials suggesting to wind them down before the jobs market picks up.

The Australian dollar is stronger against the greenback after statements from New Zealand's central bank led currency traders to move their money across the Tasman.

Mining on the moon may move from science fiction to reality faster than most people think and Australia can play its part, a lawyer says.

The $440 million Elizabeth Quay development has become a hot election issue as the riverside development causes major traffic congestion in the city.

The Australian market has closed at a fresh four-year high as gains by financial stocks offset falls by the big miners.

Foreign ownership of Western Australia's agriculture assets will be closely watched if the opposition wins the March 9 election.

Leighton Holdings is set to sell part of its $885 million phone and internet infrastructure assets to a Canadian pension fund.

Company collapses hit a record high in 2012, with the construction industry bearing the brunt.

Premier Colin Barnett says he may have "played some role" in controversial Dutch MP Geert Wilders being forced to cancel his speaking engagements in Perth.

A lull in the jobs market over the past couple of years is showing up in slower wages growth, clearing the way for a further round of interest rate cuts.