AAP

Australia's major supermarkets are pricing milk at "unsustainably low levels", a practice the food manufacturing industry says will hurt country towns.

Ratings agency Standard & Poor's has upgraded its long-term rating on diversified Perth-based conglomerate Wesfarmers.

Australian industry is set to invest more money in mining than the nation puts into building new houses, Prime Minister Julia Gillard says.

Federal Treasury officials have questioned why milk processors are complaining about the current price war between the big two supermarkets when they are supplying them for their own-brand products.

Seven Network says it will pursue departing executive James Warburton and Ten Network in court, over Mr Warburton's appointment as Ten's new chief executive officer.

Australian shares have had a flat start to the day, following US leads with modest gains and losses in the major indices overnight.

Energy giant Shell faces increasingly rigorous environmental regulatory requirements to win approval for oil and gas exploration near Western Australia's Ningaloo Reef.

US stocks were flat on Wednesday following the chop and change of the oil market, as concerns about events in Libya and a lack of indicators provided little direction for traders.

The Australian dollar opened over a third of a US cent higher this morning, on high commodity prices and a softer US currency.

Woodside sounds out Japanese – The Fin; Pressure mounts on Mitsubishi over Oakajee – The Aus; Rinehart calls for Asian guest workers – The Aus; Lehman entity 'underplayed' risk – The Fin; Mrs Oswal denies owing $140m in tax – The West

Eagle Eye Metals shares soared to record highs on news the junior explorer will acquire West African gold projects through the recommended scrip takeover of Birimian Gold.

Foreign Minister Kevin Rudd has announced the government will begin negotiations with the UAE on a bilateral nuclear safeguards agreement, a precursor to uranium sales.

Internet service providers could be squeezed by the national broadband network, the competition regulator says.

Extract Resources says it will oppose a takeover attempt of its largest shareholder by a Chinese state-owned uranium firm unless the Chinese company makes a full bid for the parent.

The Australian share market closed lower as investors ignored a positive lead from United States markets and pulled back from the resources sector.

International air ticket prices will rise again from mid-March, when national carrier Qantas increases fuel surcharges in response to climbing oil and jet fuel prices.

Independent grocery retailers have warned of future shortages of fresh milk because of the affect of discounting on the profitability of the dairy industry.

The West Australian government's decision to send corrective services staff to help break a strike in Tasmania is a disgrace, the Opposition says.

Gold miner Catalpa Resources has posted a maiden first half profit on the back of record production of the precious metal from its two Australian mines.

The federal government won't be ditching its plan for a carbon tax but will be listening closely to the views of key independent MP Tony Windsor.

Australia's big four banks may not be as comfortable with a proposed ban on mortgage exit fees as they are letting on, a Treasury official says.

Global mining giant Xstrata has appointed a new chairman amid speculation the shift will pave the way for a merger with commodities giant Glencore.

Australian stocks have opened lower, dragged down by the materials and gold sector as market players defied a positive offshore lead.

The Australian dollar opened lower this morning, off the back of softening commodity prices and a weaker euro.

Financial companies pushed stock indexes higher on Tuesday on signs that large banks may soon raise their dividends.

Conoco hopeful of compromise on Browse drilling – The Fin; Bonanza for Northern Star – The West; Threat of rate rises as boom heats up – The West; Law firm on poaching mission – The West; Farmers slam milk price war – The Aus

If Reserve Bank of Australia governor Glenn Stevens' post-board meeting statement last Tuesday appeared bland, it was probably to convey to borrowers that they shouldn't be worried about another interest rate rise just yet.

The Australian share market clawed back earlier losses to close flat as bargain hunters took advantage of oil-induced weakness to buy back into stocks.

Quotas for women on company boards would be tokenistic and won't improve executive diversity, the organisation representing company directors says.

A Chinese state-owned uranium firm has launched a takeover bid for Extract Resources' largest shareholder, Kalahari Minerals.

Militant West Australian unionist Joe McDonald has had his appeal against a $8000 fine for taking unlawful strike action at a Perth construction site dismissed in the Federal Court.

Australia set a new natural gas production record in 2010, while the value of liquefied natural gas exports also hit fresh highs.