AAP

Wall Street stocks fell for a second straight day after clashes in Libya sent oil prices to two-year highs and technology giant Hewlett-Packard said its revenue growth was slowing.

Wesfarmers $500m boost to nitrate plant – The Aus; Perth CBD office tower repossessed – The Fin; Utility urges steep WA gas price rise – The Fin; WAN plunges after resumption – The West; Goodman exits Vmoto averting shareholder vote – The West

Rio Tinto says it has received a binding offer from French mineral conglomerate Imersys to buy the mining giant's global talc business for $US340 million ($A341.28 million).

Mining driller Boart Longyear returned to profitability in 2010 but said it was worried about growing labour shortages, which could affect its ability to deliver projects on time.

David Jones is expecting to post second half profit growth at the lower end of its guidance of between five and 10 per cent amid what it says is a challenging retail environment.

Treasurer Wayne Swan believes the world economic growth outlook has improved, but he's also warned that oil prices will rise as a result of instability in the Middle East and north Africa.

The Australian dollar closed flat as value seeking traders helped it claw back losses made over the past 24 hours.

Engineering giant WorleyParsons says it expects higher full year earnings after a dip in first half net profit due to the strong Australian dollar and tight margins.

The Australian share market closed marginally in the red after opportunistic investors looked past increasing tensions throughout the Middle East.

A ban preventing Magellan Metals from transporting lead from its Wiluna mine site to the port of Fremantle has been lifted by the West Australian government.

Ten Network Holdings shareholder Lachlan Murdoch has been appointed acting chief executive of the television broadcaster, the company says.

Engineering giant WorleyParsons says it's evacuating staff from Libya amid bloody unrest as anti-government sentiment runs high.

Labour hire company Skilled Group has posted a first half net loss and launched a $53 million capital raising to pay down debt and support a restructure aimed at turning the company around.

Former Australian Federal Police commissioner Mick Keelty will head up the review into this month's Perth Hills bushfires which destroyed 71 homes.

Coca-Cola Amatil managed to increase full year profit by more than 10 per cent in an uncertain environment as drinks sales took a hit over the wet Australian summer.

Mining services company NRW Holdings has posted a 33 per cent rise in first half net profit and says it is well-placed to achieve its target of 15 per cent revenue growth in 2010/11.

Shares in Macmahon Holdings slipped after it posted a disappointing first half loss due to a write-down on its joint venture Pilbara rail project with Leighton Holdings.

A West Australian ochre mine used for centuries by Aboriginal people will be added to the National Heritage List, the federal government says.

The West Australian government's triple-A credit rating has been re-affirmed but will come under pressure in the future from rising state debt levels.

Total construction work done in Australia rose 0.8 per cent in the December quarter in chain volume terms, seasonally adjusted.

West Australian Newspapers Holdings says it has raised $325 million from the institutional component of its entitlement offer.

The Australian sharemarket opened lower after heavy falls on Wall Street and amid several worse than expected profit reports.

Australian is in it's biggest mining boom since federation but the rise in income should be treated as being temporary, the central bank governor says.

The Australian dollar fell below parity overnight as risk averse markets continued to be concerned over the political unrest in in Libya.

US stocks fell sharply on Tuesday and oil prices spiked as investors became worried about increasingly violent protests in Libya.

Just in time, Woodside abandons Libya oil hunt – The West; Shell boss hints at Woodside exit – the Fin; Big super fund shows faith in WA property – The West; Building watchdog bares teeth – The Aus; Rare finches a threat to Ord project – The West

Earthmoving equipment provider Emeco Holdings has returned to first half profitability and says it's looking at acquisitions.

A leading environment group in Western Australia has called on the state government to impose a moratorium on the extraction of coal seam gas.

The Australian dollar fell almost a full US cent amid ongoing fears about the political crisis in oil-rich Libya that undermined investor appetite.

High global prices are expected to cushion the blow to agricultural production from Australia's wet and wild summer.

The Australian share market finished weaker as selling pressure gripped Asian bourses on concerns of more violence in Libya, higher oil prices, and local profit-taking.

Oil Search shares rose to a record high after it posted a surge in full year net profit.