A plan to slug foreign property buyers with a 7 per cent surcharge to aid the recovery of WA's budget will damage the recovery of the state's fragile property market, a real estate peak body warns.

A plan to slug foreign property buyers with a 7 per cent surcharge to aid the recovery of WA's budget will damage the recovery of the state's fragile property market, a real estate peak body warns.

The corporate regulator is likely to lose up to 30 positions, after the federal budget reduced government funding by $28 million over the next three years.

Safety investigators in the US are investigating a crash in which the battery of a Tesla electric car caught fire, burning two teenagers to death.

The retreat of investors from the property market is starting to look like a rout, with a big fall in applications in March as the impact of tighter lending rules for investors takes a big bite out the mortgage market.

The retreat of investors from the property market is starting to look like a rout, with a big fall in applications in March as the impact of tighter lending rules for investors takes a big bite out the mortgage market.

Growing conditions are again looking challenging after last year's east coast cereal harvest fell by 40 per cent.

Growing conditions are again looking challenging after last year's east coast cereal harvest fell by 40 per cent.

Gas company Linc Energy is fined a record $4.5 million for causing serious environmental harm through the toxic gas contamination of air, soil and water in Queensland's western Darling Downs.

Gas company Linc Energy is fined a record $4.5 million for causing serious environmental harm through the toxic gas contamination of air, soil and water in Queensland's western Darling Downs.

Apple stocks surge to a fresh record, News Corp writes down $US1b mainly from its Foxtel-Fox Sports merger, and the Australian dollar claws back one week's worth of losses.

Apple stocks surge to a fresh record, News Corp writes down $US1b mainly from its Foxtel-Fox Sports merger, and the Australian dollar claws back one week's worth of losses.

The royal commission, rising costs, and tighter lending conditions are some of the factors which led UBS to downgrade its ratings for Australia's banks.

Environmentalists celebrate after the Federal Court extends a logging ban in the Central Highlands in Victoria until next year.

The country's three biggest supermarket chains say they will investigate claims made by workers of exploitation and bullying at a major national flower supplier.