AAP

The federal opposition has seized on comments from a senior power industry figure as proof removing the carbon tax will bring down electricity prices.

The resources boom in Western Australia is showing signs of levelling out rather than bracing for a bust, the state's mines and petroleum minister Norman Moore says.

Treasurer Wayne Swan has accused Opposition Leader Tony Abbott of sinking to new depths of negativity and economic recklessness by linking Europe's debt crisis to Australia's economy.

Building approvals and retail trade posted rises in August, but in both cases the gains made up less than half the ground lost by falls in July.

ANZ Banking Group will spend up to $1.5 billion on new mobile banking apps and upgrades of its branches as it looks to attract more customers.

Australian stocks have opened firmer, with the financial sector leading the broader market higher.

The Australian dollar is slightly higher after a significant fall in recent days on weak trade data and monetary easing from the Reserve Bank of Australia.

Hewlett Packard shares have plunged on concerns about the company's turnaround strategy but the markets overall closed higher, helped by firm reports on services sector growth and private hiring.

The Australian dollar has fallen to a one-month low following the release of weak domestic trade data and may be on its way back to parity with its US counterpart.

Federal political leaders are urging retail banks to pass on the latest official interest rate cut in full, as new economic data justifies the central bank's surprise decision at its monthly board

The world's largest drilling company Boart Longyear has shocked the market by sacking its chief executive in an attempt to tackle its plunging share price.

The Australian share market has closed at its highest level in more than 14 months despite enduring a flat day of trading.

First home buyers are locking in more fixed rate home loans than they were four years ago as arrears rates continue to improve.

Origin Energy has raised 500 million euros ($A634.6 million) through a bond issue to raise funds for the $23 billion Australia Pacific LNG (APLNG) project in Queensland.

Mining giant Rio Tinto is using surplus water from its Marandoo mine in Western Australia to irrigate fields of hay.

Dutch far-right politician Geert Wilders won't be welcome in Western Australia because he would offend Muslims and could trigger violent protests, Premier Colin Barnett says.

Opposition Leader Tony Abbott says the federal government must ensure the central bank's latest interest rate cut is passed on in full by the retail banks.

A sharp fall in commodity prices has dragged Australia's trade balance deeper into the red, where it's expected to stay for most of the next two years.

Australian stocks have opened firmer, extending gains from the previous day in response to the Reserve Bank of Australia's interest rate cut.

Chinese demand for Australian commodities - not interest rate cuts - will determine whether the budget is in surplus in 2012/13, a leading budget forecaster says.

US stocks closed mixed after a day of bumpy trade, with the Nasdaq gaining ground while the Dow blue chips bowed to selling pressure.

African countries are looking to Western Australia's "state agreements" regime as a model for fostering big resources sector developments.

The Australian dollar has dropped to a three-week low after the central bank surprised economists with an interest rate cut.

Australia's big four banks are facing mounting pressure to slash their interest rates after the central bank delivered its fifth cash rate cut in 12 months.

Three companies that were part of the collapsed engineering conglomerate Hastie Group have been sold in a management buy-out for an undisclosed sum.

The Australian share market finished one per cent higher as investors piled into equities after the Reserve Bank of Australia cut the cash rate by a quarter of a percentage point.

Qantas Airways has bulked up its freight operations by taking full ownership of Australian Air Express and selling road freight business StarTrack Express.

Recent interest rate cuts have helped house prices in Australia's capital cities post their strongest monthly gains in more than two years.

Borrowers will be raising their glasses to the Reserve Bank of Australia after the central bank delivered its fifth interest rate cut in 12 months.

Central Petroleum shares have risen more than 11 per cent after the company announced a $150 million joint venture with oil and gas producer Santos.

Rallies will be held around the nation this weekend to protest against animal cruelty and the live export trade, following reports that Australian sheep were inhumanely slaughtered in Pakistan.

Business trading conditions have hit the weakest level in 14 years, prompting calls for 50 basis points worth of interest rate cuts before Christmas.