AAP

The Australian dollar has opened higher, as investors lose interest in buying the US currency.

Scientists and technicians in white coats have emerged from their labs to attend a rally in Perth to urge the federal government not to cut medical research funding.

Oil and gas producer Nexus Energy says it has raised $57 million from institutional shareholders who took up a renounceable entitlement offer at 40 cents per new share.

The number of people unemployed for less than 12 months has fallen by 52,100 over the past year, but the number unemployed for more than a year - the so-called long-term unemployed - has risen by 12,500.

ROC Oil Company says it's focused on expanding in China, entering Malaysia, and selling its African assets and stake in the troubled Basker-Manta-Gummy (BMG) project offshore Victoria.

Australian stocks finished weaker amid broad-based declines led by the industrials and materials sectors.

There has been another change on Ten Network Holdings Ltd's board, with long-time director Peter Viner stepping down next month.

The international economic environment remains volatile but longer-term prospects for the Asian region are strong, Treasurer Wayne Swan says.

One of Australia's leading carbon sink companies says there needs to be better regulation of the offset market so dodgy operators can't claim to be tackling climate change when they're not.

Mongolian-focused Xanadu Mines has finalised the terms of an alliance with Noble Group that will give the Hong Kong-based commodities trading house a 9.9 per cent stake in the minerals explorer.

The Australian market has opened softer despite positive leads from offshore indices as investors move away from miners towards more defensive stocks.

West Australian Opposition Leader Eric Ripper has suggested the federal government's proposed carbon tax is responsible for his poor showing in the latest poll.

BC Iron has placed its shares in a trading halt for the third time in a month ahead of an announcement regarding the availability of finance to suitor Regent Pacific.

Developer Australand Property Group says it expects earnings to grow by "at least" five per cent in 2010/11 and has reaffirmed distribution guidance of 21.5 cents per security.

Shares in lithium miner Galaxy Resources plunged on the Australian stock exchange, following the first phase of a capital raising aimed at securing $120 million.

Mining services provider NRW Holdings is looking for $70 million in new capital through a share placement.

Shares in Leighton Holdings slumped 13 per cent to their lowest in 18 months after it announced earlier in the week a $757 million new share sale and said it would report a full year loss.

OZ Minerals says it expects to achieve forecast gold production targets for the year even though total gold production fell in the March quarter.

The Australian dollar was higher this morning, as traders awaited an interest rate decision from Singapore.

US stocks ticked higher Wednesday after President Barack Obama detailed his plans for cutting the deficit and a Federal Reserve report said the economy is improving at a moderate pace.

Start price set for carbon tax – The West; WA needs extra 33,000 workers – The West; Engineers back work bans – The Aus; ATO wins battle with BHP – The Fin; Desal plant a costly drop over Yarragadee – The West

Santos says it expects to make a final investment decision for its Bonaparte floating liquefied natural gas joint venture in 2014.

The Australian share market pared early losses to close around 0.2 per cent higher, as investors snapped up bank stocks and other cyclicals with attractive dividend yields.

The world's second biggest gold miner Newmont Mining Corporation has taken a 6.7 per cent stake in uranium miner Paladin Energy as a result of the takeover of Canada's Fronteer Gold.

Rio Tinto has blamed floods and cyclones for a worse than expected 16 per cent drop in iron ore production from the record set in the December quarter.

Chevron says it is in talks with other gas producers about using its Wheatstone liquefied natural gas processing hub offshore from Western Australia.

Uranium miner Energy Resources of Australia says earnings in 2010/11 will be lower than the prior year, along with lower production and sales.

Energy giant Royal Dutch Shell says it's on track to this year make a final investment decision for the world's first floating liquefied natural gas project, offshore from Western Australia.

The federal government's planned carbon tax does not recognise the abatement credentials of liquefied natural gas and will severely hamper growth in the sector, opposition energy and resources spokesman Ian Macfarlane says.

Climate Change Minister Greg Combet has outlined a more detailed timeline for implementing a carbon price with Treasury modelling due to be completed mid-year.

African Petroleum Corporation has announced it will raise $250 million from institutions and sophisticated investors in a new share sale as the company aims to become West Africa's biggest independent oil explorer.

Newspaper advertisements for skilled workers rose by 1.7 per cent across Australia in April, but in Western Australia skilled job ads were down 1.5 per cent.