AAP

Mining services provider Maca has reported half year net profit up 121 per cent, and says it expects to exceed full year profit guidance contained in its pre-float prospectus.

Bluescope Steel has reported a $55 million first half loss and says there remains an oversupply of steel in developed countries.

Communications Minister Stephen Conroy has described the collapse of Australia's largest booksellers as a tragedy but says new jobs will be created as the internet evolves.

The Australian dollar gained one per cent this week, trading near its post float high, as investors were encouraged to buy risk assets by good US economic data.

The Australian share market closed flat as a disappointing quarterly trading update from ANZ Banking Group weighed upon the banking sector.

The federal government was always going to face hurdles in the home straight to its controversial mining tax, but a new set of figures has made the course even trickier.

Fortescue Metals Group says it has expressed interest in acquiring the Tavan Tolgoi coal deposit in Mongolia, but insists it remains focused on iron ore.

Perth-based Automotive Holdings Group is optimistic about the second half of the 2010/11 financial year, after reporting a modest rise in underlying profit in the first half.

The federal government needs to change its skilled migration policies and offer incentives to apprentices to counter the national skills shortage, an industry group says.

Fortescue Metals Group has been cleared of failing to maintain a safe environment when a cyclone ripped through its rail construction camp in 2007, killing two workers.

Craft brewers Little World Beverages has posted a 35.4 per cent rise in half year profit, and predicted full year net profit before significant or non-recurring items would be as much as $8.8 million.

Iron ore miner Fortescue Metals Group has booked a seven-fold increase in first half net profit and says it has an exciting future in a strengthening iron ore market.

Cape Lambert Resources says it took advantage of a dip in its share price on Thursday to implement an on-market share buy-back that was flagged in October.

Shares in James Hardie Industries fell four per cent after the company slashed its full year guidance after reporting a third quarter loss of $US26.4 million ($A26.15 million).

The Australian sharemarket opened lower today, dragged down by the banks and unimpressed by a resurgent US economy.

US stocks finished higher on Thursday after a strong manufacturing report overshadowed a bigger than expected rise in the number of people applying for unemployment benefits.

The Australian dollar has opened almost one US cent higher today, following the release of a raft of US economic data and high commodity prices.

ASIC to probe allegations of $100m fee siphoning–The Aus; Banking giant pays $83m for Wellard stake-The West; Chevron defends record on local content-The Aus; Forrest sweats on Federal Court ruling–The Aus; Santos plays down LNG move despite find-The West

Wesfarmers says milk sales at its Coles supermarkets have risen by about 15 to 20 per cent since it began a price war on the consumer staple to achieve customer loyalty.

Qantas Airways says the airline group will buy 10 new planes and lease a further 18 aircraft by the end of 2012/13 to support expansion and growth.

Administrators have been appointed to the retail group that operates the Borders and Angus & Robertson bookstores, Australia's largest booksellers.

The Australian dollar ended the local session higher ahead of the US Federal Reserve Chairman Ben Bernanke's testimony on the economic outlook before the American Senate.

AMP says the year ahead remains uncertain for the wealth manager despite overcoming market volatility and consumer caution to post a five per cent increase in full year net profit.

The Australian sharemarket closed at a two-and-a-half-year high on Thursday, propelled by signs of recovery in the United States economy and positive company earnings reports.

Wesfarmers has confirmed its potential interest in acquiring Australia's biggest ammonia producer, Burrup Fertilisers, which is in receivership.

Virgin Blue Holdings says it's increasing the fuel surcharge for flights to the US and is also lifting its baggage charges.

Demand for seamless globalised trading platforms is relentless and governments should be aware of this when approving ownership of bourses, ASX Ltd's chief executive says.

Union boss Paul Howes has hit out at critics of his aggressive campaign against Rio Tinto, dismissing a federal cabinet minister as "immature" and unnamed critics as "gutless bastards".

Iron Ore explorer Brockman Resources has received final environmental approvals to develop its flagship Marillana ron Ore Project in Western Australia.

Wesfarmers says it increased first half profit 33 per cent as it continues to be optimistic about the future performance of its retail businesses.

The Australian sharemarket was stronger in opening trade, following positive leads on Wall Street overnight.

Oil and gas producer Santos has reported a 15.2 per cent increase in full year net profit on higher prices for the fuels.