AAP

The Australian economy has returned to growth in the June quarter after suffering a downturn in the previous quarter because of the floods and cyclones over the summer, official figures show.

Wesfarmers' owned Coles supermarkets says it will source more cheese locally for its private label line in a deal expected to create 30 new jobs.

Reserve Bank of Australia governor Glenn Stevens told a conference in Perth today it is a challenging time for the central bank, given patchy and uneven economic growth and uncertainties in Europe

The Australian dollar was lower this morning, as traders continue to worry about Europe's sovereign debt crisis.

Gold jumped to a record high on Tuesday after Switzerland pegged its currency to the euro, before closing down as investors took profits.

US stock markets slumped Tuesday amid fears that Europe's sovereign debt crisis was spinning out of control and concerns about the United States's own shaky economy.

Iron ore prices are set to dip next year after unprecedented stockpiling of the steel-making commodity by China, Westpac chief economist Bill Evans says.

The Australian share market ended a third straight trading session in the red after extending earlier losses in the day on fresh concerns about European sovereign debt.

Premier Colin Barnett says he understands why the NSW government wants to increase mining royalties to compensate for the impact of the carbon tax.

A serious mould outbreak at the trouble-plagued Perth Arena is threatening workers' health and will lead to a further blow-out in costs, the construction union says.

The wine glut in Australia is exacerbated, not solved, by the current tax structure, according to a report commissioned by a group working to prevent alcohol misuse.

The sluggish housing sector may have turned a corner, after housing finance figures for July showed tentative signs of improvement, economists say.

The Reserve Bank of Australia, which announced today it would keep interest rates on hold, expects economic growth to be above or in line with its trend. Or maybe lower.

Oil Search says the Papua New Guinea liquefied natural gas (PNG LNG) project remains on track for first production in 2014 while talks with potential joint venture partners for its Papua Gulf asset

The federal government must amend its "feeble" mining tax that credits state royalties back to miners, Australian Greens Leader Bob Brown says.

The current account deficit narrowed in the June quarter as record commodity prices offset an unexpectedly slow recovery in the volume of mining exports.

The federal government will introduce its carbon price legislation into parliament next week.

Opposition treasury spokesman Joe Hockey has described the federal government finances as a "mess", with a reported increase in NSW royalties blowing nearly another $1 billion in the commonwealth b

The polls show Kevin Rudd is the preferred Labor leader, but punters are backing Defence Minister Stephen Smith to win the race to be leader at the next election.

A joint venture between Melbourne-based Service Stream and development giant Lend Lease has secured a contract to help build the national broadband network (NBN) in Western Australia.

The Australian share market has opened more than one per cent down after European stocks tumbled over the risk of recession and the eurozone debt crisis.

The Australian dollar was lower after European stock markets fell amid growing pessimism the European sovereign debt crisis could get worse.

Gold climbed to a near record high above $1,900 an ounce on Monday as renewed pangs of euro zone debt concerns sent investors fleeing from riskier assets.

Abbott's record lead over Gillard – The Aus; Companies face $100bn debt bill – The Fin; Gas ignored in debate: Argus – The West; NBN Co awards $400m contracts for Vic, WA – The Fin; Creditors oppose Anderson's court bid – The Fin

Motorists should expect petrol prices to rise by up to five cents a litre in the next fortnight after they dipped to a two-month low in the past week, an economist says.

Australians are on track to buy one million new cars in calendar 2011 after a big jump in sales in August, new figures show.

The Macarthur Coal board has told shareholders to accept a takeover bid by ArcelorMittal and Peabody Energy (PEAMCoal), but says a better alternative bid might still emerge.

Dymocks is launching a new publishing arm which enables budding authors to publish their creations.

The Australian share market closed weaker, extending losses from early trade as disappointing US jobs data continued to take its toll on stocks.

Aussie tourism operators are being urged to be optimistic, with experts predicting emerging markets will lift the sector eventually.

OZ Minerals is targeting mid-2015 to start construction of its newly acquired Carrapateena copper and gold project in South Australia.