AAP

An early rally fuelled by Spain's banking bailout fizzled prompting US stocks to head into negative territory, as the reality of more imminent risks confronting the eurozone sank in.

Prime Minister Julia Gillard has urged Liberal premiers in Queensland and Western Australia to attend a major federal government economic forum, despite the mining boom state leaders

Australia would create the biggest protected marine area in the world if draft plans to lock up large areas of ocean were accepted, federal environment Minister Tony Burke says.

Qantas chief executive Alan Joyce says shareholders are backing his strategy for turning the airline's fortunes around, despite a tumbling share price due in part to hedge fund activity.

Europe's debt crisis and sluggish US economic growth drove share market volatility higher last week, but market players are calling for anxious equity investors to keep the faith.

Only 49 Holden dealers across Australia will sell and service the new Volt electric car when it goes on sale later this year.

More wild weather is forecast for the southern half of Western Australia as efforts continue to restore power to hospitals and more than 110,000 homes.

Finance Minister Penny Wong has poured cold water on a union push to co-invest in manufacturing and other ailing sectors.

Four giants of modern Australian politics, three world-renowned scientists and a judge have received the highest accolades in the 2012 Queen's Birthday honours.

After five weeks in a slump, US investors turned their backs on more worrisome news from Europe and poor US economic data to deliver the markets their best week so far this year.

BHP Billiton will move more than 3,000 staff into its newly completed office tower in Perth by October.

Qantas shares have slumped below $1.00, capping a horror week in which $1.1 billion was wiped off the airline's market value.

The Australian share market has closed lower as investors fretted over comments made by the head of the US central bank over the risk that the troubled euro zone posed to the US economy.

Australian corporate chiefs and unions will use an economic forum next week to urge the federal government to ease the cost of doing business, boost jobs and improve skills and training.

The federal opposition appears to have two different messages when it talks about the Australian economy.

Aurora Oil and Gas's attempted takeover of Eureka Energy might succeed even if the suitor no longer wants it to.

Woodside Petroleum has agreed to stop drilling at its contentious Browse gas project near Broome until a court dispute about planning approvals is resolved.

Qantas has been placed on a ratings watch by Standard & Poor's as its shares edge closer to falling below $1.00.

Australia's top central banker says recent interest rate cuts are not designed to spare mortgage holders the pain of falling house prices.

Commodity prices and Chinese growth are still affecting Australia's trade story, but improvement could be on the way, economists say.

Northern Australian cattle producers say more stringent government regulations are giving exporters confidence, despite many of them sliding further into debt.

A $554 million Russian takeover of Pilbara-focused iron ore miner Flinders Mines may be scuttled by legal action.

Prime Minister Julia Gillard and Opposition LEader Tony Abbott are on rare common ground, both ruling out an extension of the GST.

The Australian share market has opened flat with strength in materials stocks offsetting weakness across the financials sector after a disappointing trading session on Wall Street.

The Australian dollar is trading back down from its previous highs, based on global banking activity.

US stocks have closed mixed after China lowered interest rates to spur its slowing economy, while Federal Reserve Chairman Ben Bernanke dented stimulus hopes for the United States.

The Australian dollar has continued its upwards march back towards parity with its US counterpart following unexpectedly strong domestic employment data.

A fall in the number of strikes in Australia proves the Fair Work Act does not need to be overhauled, according to a union.

Australian shares finished stronger for the third consecutive day amid renewed optimism about Europe's ability to avert a financial disaster in Spain.

Woodside Petroleum will soon learn if it has to down tools on its proposed $30 billion Kimberley gas hub due to a legal challenge.

Independent MP Janet Woollard has agreed to pay $250,000 to settle boat-crash victim Kate Campbell's civil action against her son, Luke.

Former Greens leader and outgoing senator Bob Brown has compared the fight over a proposed $30 billion Kimberley gas hub with his successful Franklin River dam campaign.