AAP

Nationals MP Max Trenorden says he's bitterly disappointed he won't contest West Australian elections in March after failing to win preselection for the Agricultural Region over the weekend.

The Australian market has opened higher despite weak leads from Wall Street, as buyers took advantage of cheaper resources stocks.

Shares in iron ore miner Flinders Mining have plunged by almost 20 per cent after court delays pushed its proposed $554 million takeover by a Russian steel maker past the expiry date of the deal.

Shares in iron ore miner Flinders Mining have plunged by almost 20 per cent after court delays pushed its proposed $554 million takeover by a Russian steel maker past the expiry date of the deal.

Union leaders have lashed out at a federal government skilled migration plan that will allow mining magnate Gina Rinehart to bring in 1700 foreign workers, saying it is a kick in the guts for Austr

Takeover target Eureka Energy has shrugged off criticism about its new $50 million debt facility after suitor Aurora Oil & Gas threatened to withdraw its offer.

The Australian share market has fallen into negative territory as concern about the future of the euro zone outweighed earlier positive sentiment about Greece's future witin it.

A high-level manufacturing taskforce is meeting with the federal government as it prepares to deliver a 10-year plan to support local industry.

A mystery illness causing the death of its Yellowtail Kingfish will add at least $17.5 million to Clean Seas Tuna's full year loss.

Electrical and refrigeration company Hastie Group will take a $20 million hit to its full year profit after discovering "deliberate" irregularities in its financial accounts.

The Dow has turned higher in the final hour of trade to finish in the black, but downturns across the board in tech stocks hit the Nasdaq for a loss in the day.

The Australian share market treaded water amid continuing uncertainty over a possible Greek exit from the euro zone and disappointing Chinese manufacturing data.

Myer chief executive Bernie Brookes has blamed brand distributors, not retail outlets, for higher prices in Australian stores.

Resources giant Rio Tinto is pressing ahead with expanding its robust iron ore business despite concerns about a slowdown in China.

Treasurer Wayne Swan says mining magnate Gina Rinehart's new standing as the world's richest woman shows she doesn't need the tax relief promised by Opposition Leader Tony Abbott.

Investment in the resources sector has hit a new record and will boost Australia's future supply of key commodities as the nation's commodities boom continues, a new government report shows.

Iron ore miner Flinders Mining has gone into a trading halt pending an announcement on the court hearing over its proposed $554 million takeover by a Russian steel maker.

The head of Rio Tinto's iron ore division has rejected the suggestion that the actions of miners were too quickly depleting the earth's resources.

Foxtel has completed its $2 billion takeover of regional counterpart Austar, and says pricing and billing procedures will not change for customers of either service.

Mining magnate Andrew Forrest has described the European debt crisis as a beat-up.But, he says Australia is still "lucky to be next to Asia and not Europe".

Sundance Resources and its Chinese suitor Hanlong Mining have altered a $1.65 billion takeover agreement to ensure the deal is finalised by November.

The Australian share market has opened slightly higher, led by major resources companies after a mixed night on overseas bourses.

More than 3,000 coalminers have started a week-long strike in Queensland's Bowen Basin as an 18-month dispute over working conditions rolls on.

Oil prices have slumped, falling to a six-month low under $US90 in New York as the US dollar rallied on eurozone debt tensions.

US stocks have closed mixed, with a late rally paring losses prompted by increased fears of a Greek euro exit and disappointing earnings from computer maker Dell.

Myer believes it can generate up to $300 million in online sales as women and young people head to its website to buy clothes.

 The outlook for economic growth has improved although it is still below average.

Gina Rinehart grows $1 million wealthier every half hour.Family financial squabbles have done nothing to stop her relentless rise as the richest woman in Australia, and now the world.

Australian stocks tumbled on fresh fears about a possible Greek exit from the euro zone, with all local stock sectors weaker and the Australian dollar touching a six-month low.