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Stocks end lower on offshore jitters

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Australian stocks have closed lower for the fourth straight session as offshore worries prompted broad based selling on the local bourse.

Westfield confident, confirms guidance

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Westfield Group says it is confident of strong performance across its portfolio this calendar year and that the mixed economic situation in Australia should improve.

Telstra on track to meet guidance: CFO

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Telstra chief financial officer John Stanhope says the telco is on track to meet guidance for the 2011 fiscal year and that momentum heading into fiscal 2012 is positive.

Swan assured WA on royalties: Barnett

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Federal Treasurer Wayne Swan gave assurances to the West Australian government it would not be punished if it removed concessions on royalty rates for iron ore, Premier Colin Barnett says.

Rinehart first woman to top rich list

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Gina Rinehart has become the first woman to top the BRW rich list, with the iron ore magnate's fortune doubling over the past year to $10.3 billion.

Airlines say biofuels will lower costs

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Major players in Australia's aviation industry have backed a report recommending a shift to biofuels to offset a possible carbon price and the rising cost of oil.

Iluka to pay back investors

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Mineral sands producer Iluka Resources says it plans to boost production of zircon and high grade titanium ore after achieving price increases in the first half of calendar 2011.

State government defends sponsorships

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The West Australian government has defended pharmaceutical company sponsorships after documents revealed health officials accepted $745,000 in gifts, travel and accommodation in eight months.

Ripper joins attack on Gillard

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West Australian Opposition Leader Eric Ripper has used his budget reply address to attack the federal government over its threats to cut the state's infrastructure funding.

Santos discovers oil in Carnarvon Basin

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Oil and gas giant Santos has announced a new oil discovery at Finucane South in the Carnarvon Basin.

Qantas pilots gear up to strike

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It could take up to three weeks before it's known whether Qantas pilots will strike for the first time in 45 years.

Stocks open flat on Euro debt concerns

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The Australian share market opened slightly lower, dragged down by European debt concerns but balanced by a surge in oil and energy stocks.

$A higher as commodities rise

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The Australian dollar was marginally higher this morning after commodities prices rose fuelled by safe-haven buying.

US stocks slip on oil price forecast

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US stocks edged down on Tuesday as two banks predicted oil prices will rise to $US130 a barrel and data showed the market for new homes remained weak.

Today's Business Headlines

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Swan accused of lying in royalty row – The Aus; Greens relent over carbon tax – The Fin; Libs are drunk on debt: Ripper – The West; Patrick escalates wharfies row – The Aus; US landowners sue BHP over shale gas – The West

Abbott quiet on WA premier's GST plan

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The federal coalition has refused to say if it supports West Australian Premier Colin Barnett's plan for a floor to be placed on GST revenue.

Market falls again

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The Australian share market has closed slightly lower but bounced back from earlier lows caused by concerns about European sovereign debt.

Leighton unsure if King will return

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The chief executive of construction giant Leighton Holdings says he doesn't know if former boss Wal King is set to return to the company.

Majority of businesses not hurt by $A

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Three quarters of Australia's small and medium sized businesses are either better off or unaffected by the high local dollar, research suggests.

Grylls stands by regional funding

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West Australian Nationals Leader Brendon Grylls has rejected an independent report that says his pet policy to develop communities in the Pilbara and Gascoyne regions is doomed to fail.

Campbell Bros full year profit up 75%

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Global testing services group Campbell Brothers has reported a 75.7 per cent rise in full year net profit and says it expects further growth in its business in the current year.

Swan reaction over the top: Barnett

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West Australian Premier Colin Barnett says federal Treasurer Wayne Swan has shown little understanding of the iron ore industry in his attack on the state's budget.

Wesfarmers downgrades Curragh production

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Wesfarmers has downgraded its sales volume forecast for its Curragh mine in Queensland due to recent rainfall and a mechanical failure.

Market down on weak US lead, Europe debt

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Australian shares have opened lower due to a weak lead from Wall Street and concerns about Europe's debt woes.

Europe debt crisis drags Wall St down

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After three days of bad news about Europe's debt crisis sent Asian and European markets down on Monday, it was Wall Street's turn.

$A drops on more Europe debt woes

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The Australian dollar was almost half a US cent lower this morning amid worries that the European government debt contagion is spreading.

Today's Business Headlines

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Treasury told of tax hike last year – The Aus; Labor plans petrol offset for climate scheme – The Fin; Banks baulk at consumer credit burden – The Fin; Oswal's jet goes to US while ASIC trawls – The Fin; Regions policy is a $1bn 'waste' – The West

Native title win in Kimberley

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Traditional landowners have been granted native title over 26,000 square kilometres in Western Australia's north Kimberley region.

Stocks plunge amid widespread sell-off

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The Australian share market ended the day deeply in the red at a two-month low as finance stocks lost the most ground amid widespread selling.

MPs want shorter working hours

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Federal politicians struggling with parliament's extended sitting hours are demanding more moderate working hours.

Abbott welcomes global warming report

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Opposition Leader Tony Abbott is using a new report about global warming as a tick of approval for the coalition's direct action policy on climate change.

Solar installers could go bust: industry

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The solar-energy industry has warned that Western Australia's solar panel installers could go bust by the end of the year after changes announced to the government's feed-in-tariff scheme.