AAP

Oil Search says it is close to deciding on partner or partners for its natural gas exploration assets in resource-rich Papua New Guinea.

Australia was in a good position to avoid the global financial crisis and should continue to use its "lucky" position to shield against further economic shocks, the central bank governor says.

Alesco Corporation has plunged into the red with a $13.9 million loss for its 2012 financial year.

Funds for the National Disability Insurance Scheme should not be consumed by unnecessary bureaucracy, the state government has warned its federal counterparts.

Shares in troubled surfwear retailer Billabong have surged by more than 20 per cent after it received a second takeover offer from US private equity firm TPG.

Beleaguered miner Mirabela Nickel has axed hundreds of jobs in Brazil as it continues cutting costs at its Santa Rita operations while the nickel price languishes at depressed levels.

The Australian sharemarket had a surprise positive opening after investors took advantage of buying opportunities in the wake of Monday's losses.

Australia's economic growth should stay around current levels until 2017, but there's a risk the nation will become even more sensitive to commodity price swings than it is now, a report warns.

US stocks have skidded amid a global sell-off on renewed eurozone sovereign debt concerns that Spain was headed for a bailout and Greece could exit the eurozone.

The Australian dollar has fallen one US cent and the euro has hit a record two-year low against the US dollar amid renewed fears about the European government debt crisis.

Reports of the mining boom's demise are greatly exaggerated, some say, but few dispute the likelihood of continued easing in commodity prices.

The Australian sharemarket closed 1.7 per cent lower amid renewed fears about the European debt crisis and the end of Australia's mining boom.

A bitter industrial dispute at a Coles Melbourne warehouse may be close to an end as workers vote on a new deal brokered between the union and management.

Corporate observers will pay $6600 a head to attend events at the upcoming federal conference of the Nationals.

Queensland unions have lodged Federal Court proceedings against QR National, saying the company has ignored a dispute over its restructure.

A rise in Australia's June quarter producer price index could mean Wednesday's inflation data will be stronger, but it should not prevent more interest rate cuts by the central bank, economists say

Prime Minister Julia Gillard is confident her government will deliver a $1.5 billion budget surplus in 2012/13 as forecast in May.

Alesco Corporation has not been swayed by DuluxGroup's move to increase its takeover offer to $210 million.

Woolworths has overcome tough trading conditions in the retail sector to lift its sales by 4.7 per cent to $56.7 billion in the 2012 financial year.

The Australian share market has opened almost one per cent lower amid renewed worries over government debt in Europe re-emerge.

Western Australia remains by far the nation's strongest state on most economic valuations, and even its weakest parts outstrip many other jurisdictions, CommSec says.

The Australian dollar has fallen back, as concerns around the euro zone return to the market.

The Australian dollar is trading close to its three-month highs but it looks as if it is running out of steam after a week-long rally.

Economists at the nation's biggest home lender, the Commonwealth Bank of Australia (CBA), still expect an interest rate cut next month ahead of a likely benign inflation result on Wednesday.

The Australian sharemarket has closed slightly lower as investors took profits on stocks that rose steadily during the week.

Virgin Australia's boss has joined its new financial backers Etihad Airways in attacking Qantas over its campaign against the Middle Eastern airline's investment.

Perth has been praised in a federal government report for managing to make rail an attractive alternative to roads.

The chief executive of up-for-sale poultry business Inghams says there is interest in the family-owned company from Australian buyers but there is no certainty they will be able to compete with for

Asciano has struck a fresh deal with Bluescope Steel and Arrium to continue providing them with rail linehaul services across Australia.

Recent rate cuts and household stimulus have helped economy-wide spending rise for the sixth consecutive month in June.

Foreign trade price figures suggest the terms of trade, a key indicator for the Australian economy, have stayed in negative territory.

Darrell Lea's administrators say they are in talks with 90 local and international parties interested in buying the troubled chocolate business.