AAP

Australian shares closed higher, clawing back a large part of Monday's losses, after the central bank cut official interest rates to their lowest level since the global financial crisis.

Rail freight company QR National has announced that it plans to cut 500 jobs.The redundancies are part of what it is calling its restructure and reform program which it began last year.

Indigenous Business Australia (IBA) is set to take on a new role, helping native title groups pursue economic development opportunities.

Australia posted a much larger current account deficit in the first three months of 2012, mainly due to a large rise in mining equipment imports.

The majority of Australians oppose government plans to price carbon, new polling reveals.

The federal government has suspended the approval process for the $6.4 billion Alpha coal mine project in Queensland.

Qantas shares have hit an all-time low after the airline forecast a drop of up to 91 per cent in its full year underlying profit.

The Australian share market opened slightly higher, with most sectors posting gains as investors await the Reserve Bank of Australia's (RBA) latest interest rate decision.

Australia needs to learn lessons from countries such as Denmark, Germany and China to develop its clean energy technology industry, a global environmental group says.

US stocks have closed mixed after a day of bumpy trade, as eurozone turmoil kept a shadow over the markets.

Australian shares have closed at a six-month low after being battered by bleak economic data from China, Europe the United States and locally.

Pallet supplier Brambles has aborted the planned sale of its data management business because of a lack of reasonable offers, instead announcing a $448 million capital raising.

The Australian share market plunged 1.75 per cent in opening trade to its lowest level since November after Wall Street suffered its worst day of 2012 and fell into bear market territory.

Export commodity prices fell to a 17-month low in May.

The Australia dollar fell to a fresh six-month low following the release of weaker Chinese manufacturing data but regained some ground later in the day.

More effort needs to be put into luring labour from the eastern states to Western Australia, say some of the nation's top executives.

Australian stocks have closed lower for a third straight session as weak economic data from offshore prompted investors to abandon resources-linked sectors of the market.

Australia needs to open up its northern regions to agricultural expansion or face a potential food shock from Asia, says the chief executive of Australia's biggest beef producer, Australian Agricul

Australia's largest goldminer Newcrest Mining says it would not be further expanding its Australian operations while costs remain high.

The minimum wage increase handed down by Fair Work Australia is a sign of confidence in the Australian economy, Workplace Relations Minister Bill Shorten says.

Norton Gold Fields is recommending its shareholders accept a friendly $229 million takeover offer from China's biggest gold company.

The West Australian Farmers Federation has called on the state government to impose a moratorium on gas fracking amid concerns about unknown environmental impacts.

Nationals senator Barnaby Joyce is urging the federal government to allow a local company to purchase farming land in northern Australia ahead of Chinese interests.

Veteran MP Max Trenorden has asked the Nationals to expel him from the party, saying he has been treated poorly by its members but doesn't want to be forced to quit.

The Australian share market suffered falls in opening trade, driven by weaker materials stocks, aggressive short selling of the top 50 stocks and a soft lead from Wall Street.

The federal government is standing by its budget forecasts despite a slowdown in China's growth.

Qantas denies it misled a Senate inquiry over the timing of a decision to ground its entire fleet in 2011.

Stumbling Facebook shares got a shot of adrenalin Thursday and pushed five per cent higher as US stocks traded lower Thursday on dull jobs and economic growth data.

Fortescue Metals Group boss Neville Power says he is confident China's continued growth will help the company generate enough cashflow to pay down its large debt.

The Australian market has closed lower, dropping for a second straight day as ongoing worries from Europe hit financial stocks hardest.

Australia's housing industry says it has fallen into a recession after building approvals plunged to their lowest level since the global financial crisis, driven largely by a change in the approval