AAP

Australian consumers started the new year with little enthusiasm as concern about the family budget outweighed positive sentiment about the state of the economy.

Less than 10 per cent of jobs Boral will slash will come from Western Australia as the building products maker targets reduced costs and increasing competitiveness in a company-wide restructure.

US stocks have closed mixed after the government reported better-than-expected retail sales in December.

The Australian market closed marginally lower after investors decided to reap their profits later in the day.

One of the country's largest investors has backed the two-strike rule for executive pay, saying it has given shareholders greater sway.

Rio Tinto has signalled that predictions of falls in iron ore prices hold no fear for it as it posts record annual production, and says its massive expansion plans are on track.

Australian shares were slightly higher mid-morning amid directionless trading after mixed overseas leads.

Federal Reserve chairman Ben Bernanke says it is important that Congress raise America's borrowing limit before the Treasury runs out of manoeuvring room to avoid a potential default on US debt.

Shares in Billabong surged 13 per cent when they resumed trading after the troubled retailer received its sixth takeover bid in less than six months.

The federal government is resisting pressure to reveal how much it is receiving from the minerals resource rent tax.

Australian shares have opened flat after mixed overseas leads, with mining stocks expected to drag the market down during the day.

The Australian dollar is slightly higher ahead of a speech by US Federal Reserve chairman Dr Ben Bernanke.

Stock markets have had a mixed day as the Dow Jones industrials finished in positive territory while other leading indices closed in the red.

Troubled surfwear retailer Billabong has received an alternative takeover offer from a consortium comprising US private equity firm Altamont Capital Partners and retailer VF Corporation.

The Australian market closed higher after a day of consolidation with gains across most of the board, despite light trading.

Job advertisements fell to their lowest levels for three years in December as firms held back on employing new staff amid difficult times.

The federal opposition says the government should come clean with the public on how much the mining tax has raised to date, then immediately move to scrap it.

Iron ore explorer Flinders Mines has received environmental approvals for its proposed mine in Western Australia's Pilbara region.

Altona Mining has to go it alone or find a new partner to develop its Queensland copper project after global miner Xstrata changed its mind and decided not to buy a majority stake in the project.

The Australian market was just higher mid-morning on cautious trading following mixed leads from Wall Street.

Consumer prices are rising in line with the Reserve Bank of Australia's target for inflation, a report says.

Employees at steelmaker BlueScope's Western Port facility have started the working year to news of major job cuts.

Delivering a budget surplus is certainly possible, a federal Labor MP says.

The Australian market has opened higher despite mixed leads from Wall Street.

US stocks closed in mixed territory on Friday as tepid earnings from Wells Fargo kept markets restrained.

BHP blasts PNG over ban – The Fin; Mining tax take stuck at zero – The Aus; Barnett stretches pre-poll margin – The Aus; LNG exports at risks as US stakes claim – The Aus; Iron ore price a $1.3 billion fillip for Barnett – The Fin

The Australian dollar has fallen after disappointing US trade figures weakened global market sentiment on Friday.

Japan's new government has unveiled a massive .5 billion ( billion) stimulus plan in the latest bid to boost the world's number three economy, with plans to rebuild disaster-hit areas and beef up t

The Australian share market closed lower amid profit taking on Friday and mixed messages about economic data out of Asia.

Australian homeowners can look forward to three more interest rate cuts in 2013, one of the country's biggest banks says.

Shares in Base Resources have soared after the mineral sands miner convinced the Kenyan government not to enforce new nationalist laws on it requiring local ownership.

The pace of construction on the government's $37.4 billion broadband network will continue to ramp up after exceeding its 2012 year-end rollout target, the federal government says.