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Businesses are not adequately engaging with Asia, despite Australia's future economic growth depending strongly on the expanding region, a new report shows.

Accounting firm EY says debt levels and an ongoing focus on costs is placing more pressure mining services companies in Western Australia.

Standard & Poor's says Western Australia is unlikely to get a credit rating upgrade soon, but it seems encouraged by government measures to improve the state's finances.

Clive Palmer's Mineralogy has moved to terminate CITIC Pacific Mining's rights to mine his iron ore in Western Australia, casting doubt over an $8 billion project.

The Australian Stock market is sharply lower, following a big selloff on Wall Street overnight.

Gold futures have carved out a slight gain as the US dollar weakened against the yen and US equities tumbled to a five-week low.

The Australian dollar has hit a fresh eight-month low after the Reserve Bank of New Zealand tried to talk down its own currency.

The key Royalties for Regions project threatens to sap the government as it fends off claims of favoured treatment and political donations.

US stocks have sunk led by Apple's 3.8 per cent drop, amid a combination of worries over heady valuations and quarter-end profit taking.

Global oil prices have remained weak in choppy trade, buffeted by the strong dollar and rebounding Libyan output.

Asia-focused social entertainment platform migme has announced a partnership with Universal Music Indonesia; following migme's August backdoor listing to the ASX in a reverse takeover of Latin Gold.

The Australian share market has closed slightly higher after the big miners lifted the overall index.

A subsidiary of Wesfarmers, liquefied natural gas supplier EVOL LNG, has won a deal with Saracen Mineral Holdings to supply 7,000 tonnes of the resource per year to its Carosue Dam operations north of Kalgoorlie for an undisclosed amount.

The competition watchdog has cleared the way for an Asian consortium to buy Australia's biggest foodmaker, Goodman Fielder.

Coles has published a list of Asian factories behind its clothing range as part of the supermarket giant's bid to be more transparent.

It is always hard to pin a stock market correction on a single event, but when investors look back at what's happened over the past few weeks as the stock market has dropped by 5 per cent (half way to an official correction) they will focus on the float of a single company, the giant Chinese trading house, Alibaba.

BHP Billiton boss Andrew Mackenzie earned $US8 million in the 2014 financial year, but he will have his salary frozen amid the resources giant's cost cutting campaign.

The final federal budget deficit for the 2013/14 year has come in at $48.5 billion, $30 billion more than initially forecast.

A new estimate of job vacancies fails to give any credence to the reported surge in the number of people with jobs between July and August.

Western Australia has recorded its highest number of insolvencies for a month in nearly two years, with 841 companies entering external administration across the country in July.

Junior miner Jameson Resources says it has received firm commitments for a $2 million capital raising to fund work at its flagship Crown Mountain coking coal project in British Columbia.

Tough new traffic penalties are about to come into force in Western Australia, with some fines skyrocketing more than five-fold.

The Australian share market has opened higher in the wake of positive leads from overseas markets.

BHP Billiton is considering listing its new resources entity NewCo on the London stock market.

The Australian dollar is trading in a narrow range, having recovered some of its losses from earlier in the week.

Monitoring the stock of property for sale is an important health check on the market and, coupled with activity, gives us a sense whether it is a buyer's or seller's market.

Oil prices in New York have rallied after a surprisingly big drop in US crude inventories, even as higher output from Libya pressured the main London oil contract.

US stocks have finished with solid gains as a strong housing report helped equities regain territory after losses earlier this week.

St George Mining has completed a capital raising of $1.75 million to sophisticated investors.

The Australian share market has closed lower as the major banking stocks fell after the central bank warned it may take action against risky lending.

About 25 per cent of first home buyers have saved for more than five years before buying a property, according to a survey by financial services provider Mortgage Choice.

A PwC director has claimed the productivity of iron ore mining equipment in Australia has fallen 40 per cent in the last four years, and has sat behind the global average since 2012.