AAP

Residents of the Margaret River region remain on alert as a bushfire that has destroyed 34 houses and holiday chalets continues to threaten properties.

Shares in Woodside Petroleum slumped six per cent to a seven-week low after the oil and gas producer's 2012 production target fell short of expectations.

The Australian sharemarket has opened weaker for the sixth consecutive day as investors shy away from mining and resources stocks and after European markets suffered more losses.

Federal Treasurer Wayne Swan has approved an application by US brewer SABMiller to acquire the Foster's Group.

European stock markets have closed mostly lower, slipping back from a modest technical rebound made as a strong survey of German business confidence helped sentiment amid the eurozone debt gloom.

Australian economic growth is likely to accelerate in 2012 but it won't be enough to get the federal budget back into surplus, economists say.

Two leading business figures have spoken out against the recently introduced two-strikes executive pay rule, arguing it could be used for mischief and does not improve corporate governance.

David Jones shares slumped to an eight-week low after the retailer reported that first quarter sales fell more than 10 per cent and confirmed expectations of a hefty drop in first half profit.

A record eastern Australian crop has helped GrainCorp more than double its full year profit to nearly $172 million.

As bushfires continue to engulf parts of Western Australia's southwest and another fire threatens homes in Perth's east, a parliamentary report has revealed the state may be underprepared for the b

It's been a rite of passage for generations of Western Australian families.

Westpac has overhauled its management structure and hired a potential chief executive successor as it pushes to be the country's leading financial company.

The Australian sharemarket has closed weaker for the fifth consecutive day at a seven-week low with investors staying away or moving their money to safer assets.

Home buyers can continue to expect mortgage discounts next year as big banks battle each other for a bigger share of a sluggish lending market, a new report says.

Struggling steelmaker BlueScope Steel has raised $338 million so far in a $600 million capital raising as it tries to repay some of its debt.

The Transport Workers Union says it is backing the pilots' union's bid for a recent decision by Fair Work Australia (FWA) to be overturned in its stoush with Qantas.

An insurance catastrophe has been declared for areas affected by bushfires burning in the southwest.

A parliamentary committee has demanded the rollout of the national broadband network be more transparent, especially in regional areas.

Liberal MP Peter Slipper has been elected Speaker of the House of Representatives replacing Labor's Harry Jenkins.

The Australian sharemarket has opened slightly lower as traders wait for a catalyst following a bad run of news from around the world.

Murchison Metals will be left with just a few exploration tenements and little funds if it pays shareholders with cash received from the $325 million sale of key assets to Mitsubishi.

The Australian dollar has fallen to its lowest level in seven weeks as concerns about China's economic growth and Europe's debt crisis drag sentiment lower.

Brazilian regulators have temporarily banned Chevron from drilling for oil in the nation.

US equity markets have tanked as a poor German government debt auction fuelled fears over Europe's fiscal crisis and weak growth in the eurozone, a major US trading partner.

The Australian dollar has continued its downward trend following a report that France and Belgium were restarting talks on the bailout of Brussels-based bank Dexia.

Four years of drought followed by unusually high rains means Western Australia is facing one of its most dangerous fire seasons in recent history.

The Australian sharemarket was dragged almost two per cent lower after the release of weak manufacturing figures from China.

Premier Colin Barnett has hit back at federal Resources Minister Martin Ferguson for saying the real problem for mining companies was paying state royalties.

The federal government has dismissed the opposition's claim that a report from a leading international investment bank proves Labor's carbon tax is "all pain for no environmental gain".

Minmetals' $C1.3 billion $A1.28 billion) takeover bid for Democratic Republic of Congo-focused copper miner Anvil Mining has been extended as talks continue to gain the backing of state-owned joint

The federal government's decision to defer the phase down of a tax paid by financial institutions will hurt competition, a banking group says.