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Tony Abbott has called a special cabinet meeting ahead of the resumption of parliament in a bid to reboot the government's floundering budget sales pitch.
The Australian dollar is lower against the strengthened greenback after a neutral speech by US Federal Reserve chair Janet Yellen surprised the market.
US stocks enjoyed a week of solid gains following a batch of good economic data and mostly strong corporate earnings as concerns about geopolitical hotspots ebbed somewhat.
Iluka Resources says it will continue cutting production until conditions improve and blamed lower prices for a fall in first half net profit by two thirds.
Santos has lifted its dividend to shareholders, despite suffering a 24 per cent slide in its first half profit as writedowns in Indonesia offset higher production and sales.
The S&P 500 has set a new record as US stocks powered higher, shrugging off geopolitical problems elsewhere and gaining from fresh signs of strength in the US economy.
An improving housing market has helped Mirvac Group to triple its full-year profit, with the property group expecting to grow its earnings further over the next 12 months.
Caltex says it will defend claims by Australia's consumer watchdog, that it used a third-party website to collude with other major players on petrol prices.
The Australian share market has pushed again to new post-global financial crisis highs, following an encouraging lead from the United States market and positive sentiment generated by local company earnings.
The share market has closed higher as a positive investor response to a generous payout from Coles owner Wesfarmers outweighed a sharp fall in BHP Billiton shares.
Australia needs to grasp opportunities to expand into the Chinese food and milk markets as quickly as possible, Reserve Bank of Australia governor Glenn Stevens said.
Woodside Petroleum has increased half-year net profit by 27 per cent and says it is confident about gas demand despite a large number of new projects coming online.
The government has warned MP Clive Palmer against using his position in parliament to insult China amid a high profile legal battle with a Chinese company.
World oil prices have fallen, with the New York benchmark below $US95 a barrel for the first time since January ahead of the weekly US inventories report and the contract's expiration.