Australasia

Australia shares end firmer as RBA leaves door open for more rate cuts; NZ up

08h35 Australian shares rose on Tuesday, with the healthcare sector leading gains, as minutes of the central bank's September policy meeting affirmed it was open to further rate cuts, helping the benchmark index recoup earlier. . .  Full story

Australia's c.bank eyes unemployment, housing for further rate cuts

06h20 Australia's central bank will assess global and domestic developments including the state of the country's labour market before cutting interest rates further, minutes of its September meeting showed, putting the onus on the unemployment rate. . .  Full story

Australia's New Hope flags coal market volatility, Queensland slowdown

05h09 Australian coal producer New Hope Corp Ltd on Tuesday said coal markets would likely remain volatile in the near term though demand is strong for high-quality thermal coal across Asia, as it posted a. . .  Full story

Australia shares slip ahead of U.S. Fed meet; NZ up

04h46 Australian shares were subdued on Tuesday, as markets trod cautiously in the wake of heightened tensions in the Middle East and ahead of the U.S. Federal Reserve's policy meeting this week.. . .  Full story

Australia shares set to open lower as Saudi oil crisis takes centre stage

00h11 Australian shares are likely to open lower on Tuesday as investors react to heightened geopolitical risks following the weekend attacks on Saudi Arabia's oil facilities. The attack,. . .  Full story

Australia lowers wheat export forecast by 7.7% on drought

16/09 Australia on Tuesday lowered its forecast for wheat exports for the 2019/20 season by 7.7% as a prolonged drought wilts supplies.. . .  Full story

Facing redundancy in New Zealand? Send in the clowns

16/09 An employee of a New Zealand advertising company hired a professional clown to sit with him as his support person at a redundancy meeting in which he was fired, the Stuff New Zealand reported.. . .  Full story

Fiji PM calls for Australia to "unite behind the science" of climate change

16/09 Fiji Prime Minister Frank Bainimarama called on Monday on Australia to "unite behind the science" and be far more ambitious in reducing greenhouse gas emissions that cause climate change.. . .  Full story

Australia shares tread water, spooked by Saudi attacks; NZ down

16/09 Australian shares advanced marginally on Monday, as huge gains in the energy sector, inspired by a leap in oil prices, were limited by downward trending financials, amid global growth jitters.. . .  Full story

China Mengniu plans to buy infant formula maker Bellamy's for $983 mln

16/09 China Mengniu Dairy Co unveiled a plan to buy infant formula maker Bellamy's Australia Ltd for A$1.43 billion ($983 million), a lifeline for a target beset by regulatory problems that sent its shares soaring.. . .  Full story

Australia's property recovery remains in-house as rest of economy struggles to motor on

16/09 When Michael Jiang scored a liquor licence four years back, he had hoped it would help drive more sales at his struggling small grocery business in Sydney.. . .  Full story

Australia, NZ shares lower despite energy stocks spike

16/09 A sharp jump in energy stocks on the back of a surge in global oil prices was not quite enough to lift the Australian market on Monday, as the heavyweight financial index dragged on. . .  Full story

Virgin Australia to buy rest of frequent flyer programme for $480 mln

16/09 Virgin Australia Holdings Ltd on Monday said it entered an agreement to buy back the 35% of its Velocity frequent flyer programme that it does not already own for A$700 million ($481 million) from. . .  Full story

Australia's Pacific Energy picks QIC's $321 mln offer

16/09 Australia's Pacific Energy said on Monday it would back a $321.18 million takeover offer by QIC Private Capital after the investment manager matched a rival consortium's recent offer for the power supplier.. . .  Full story

Australia shares set to open lower ahead of Fed rate decision

16/09 Australian shares are set to open slightly lower as investors cautiously await the U.S. Federal Reserve's rate decision, while energy stocks are expected to rise on strong prices after an attack on oil facilities. . .  Full story

Record low rates deliver competitive advantages to Australia's biggest banks -regulator

13/09 Australia's banking watchdog on Friday said record-low interest rates are likely to benefit the country's "Big Four" lenders over their smaller counterparts due to their better capital position and access to cheaper funds.. . .  Full story

Australia shares edge up, thanks to financials; NZ down

13/09 Australian shares eked out a small gain on Friday, helping the benchmark advance for a fourth straight week, but investors stayed cautious in spite of hopes for smoother U.S-China ties and Europe's newly-unveiled monetary stimulus.. . .  Full story

Australia shares lifted by financials as trade war worries ease; NZ down

13/09 Australian shares edged up on Friday, with the benchmark set for its fourth week of gains, buoyed by signs of progress in the U.S.-China trade war and stimulus measures announced by the European Central. . .  Full story

Australia shares set to open higher on trade talk optimism, ECB stimulus promise

13/09 Australian shares are likely to open higher on Friday as signs of progress in the Sino-U.S. trade dispute boosted risk sentiment along with the promise of continued stimulus from the European Central Bank.. . .  Full story

Australia shares lifted by U.S.-China tariff moves, hopes for easing; NZ up

12/09 Australian shares rose along with others on Thursday as investors cheered gestures of goodwill in the bruising U.S.-China trade war and hoped that the European Central Bank later in the day will kick off. . .  Full story

Australia's Westpac veteran Peter King to retire as CFO

12/09 Westpac Banking Corp said on Thursday its chief financial officer, Peter King, will retire next year after spending 25 years with Australia's second largest bank.. . .  Full story

Australia shares set to open higher as China tariff exemptions lift mood

12/09 Australian shares are likely to open higher on Thursday, tracking Wall Street, after China's decision to exempt some U.S. goods from tariffs boosted market sentiment. China exempted some U.S. anti-cancer. . .  Full story

Miners, financials lead Australian shares higher; NZ down

11/09 Australian shares ended marginally higher on Wednesday, as solid gains in the mining and financial sectors - the benchmark index's biggest components - helped outweigh a decline in technology and healthcare stocks.. . .  Full story

Australian consumer mood sours, bets rise on steeper rate cuts

11/09 Australian consumers turned gloomier in September as concerns about their personal finances eclipsed signs of a modest recovery in the housing market, underlining why markets are betting on more rate cuts to support a flagging. . .  Full story

Australia shares rise, iron ore leads mining gains; NZ down

11/09 Australian shares made modest gains on Wednesday, clawing back losses from the previous session as a China-led mining rally helped offset a decline in technology and healthcare stocks.. . .  Full story

Australia shares likely to open slightly higher on gains by iron ore miners

11/09 Australian shares are expected to open slightly higher on Wednesday, helped by gains in iron ore miners that will likely offset declines in tech and energy stocks. Chinese iron ore. . .  Full story

Australia shares slip, pressured by tech, healthcare stocks; NZ falls

10/09 Australian shares declined on Tuesday, as gains in the energy sector were overshadowed by falls by technology and healthcare stocks, as well for gold miners.. . .  Full story

Australia shares lower as tech, healthcare sectors slip; NZ down

10/09 Australian shares declined on Tuesday, as technology and healthcare stocks followed Wall Street peers lower, outweighing gains in the energy sector.. . .  Full story

Australian regulator appeals against court dismissal of Westpac lending case

10/09 Australia's corporate watchdog on Tuesday said it had lodged an appeal against a court decision dismissing its accusations that the nation's second-biggest lender Westpac Banking Corp had approved mortgages without appropriate credit checks.. . .  Full story

Australia's AMP raises $538 mln to fund turnaround

10/09 Australia's AMP Ltd said on Tuesday it had raised about A$784 million ($538.1 million) to fund the restructuring of its flagship business following revelations of misconduct and poor governance.. . .  Full story

Australian shares likely to open lower as investors await policy easing steps

10/09 Australian shares are expected to open slightly lower on Tuesday, tracking a lacklustre Wall Street, as market participants await further direction and possible monetary stimulus from central banks in the face of a global slowdown.. . .  Full story

Indian firms lead earnings downgrades in Asia as slowdown bites

09/09 India led Asia's earnings downgrades over the past month with analysts expecting more troubles this year due to a consumption slowdown and liquidity crunch in the financial sector.. . .  Full story

Asian equity valuations fall to lowest in 3 months in Aug - Refinitiv data

09/09 Valuations of Asian shares took a hit in August after a sharp sell-off due to an escalation of the United-States-China trade war.. . .  Full story

Australia shares end marginally higher; NZ down

09/09 Australian shares closed marginally higher in cautious trade on Monday, with the benchmark index propped by financial sector firms as investors awaited global central banks to provide more stimulus for a slowing global economy.. . .  Full story

Australia gives banking licence to mobile startup firm Xinja

09/09 Australia granted a new banking licence to online-only banking firm Xinja Bank on Monday, allowing the startup to compete against the country's "Four Big" lenders that dominate the sector.. . .  Full story

Australia's Suncorp appoints veteran Steve Johnston as CEO

09/09 Australian insurer Suncorp Group on Monday announced the appointment of company veteran Steve Johnston as chief executive and managing director.. . .  Full story

Australian shares climb on trade talk hopes, NZ closes at record high

06/09 Australian shares had a solid rise on Friday, contributing to the market's third straight weekly gain, fuelled by hopes for reduced tensions after Washington and Beijing agreed to hold high-level trade talks next month.. . .  Full story

Australia's Westpac faces fee-for-no-service lawsuit

06/09 Australia's Westpac Banking Corp has been served a class action lawsuit accusing it of charging thousands of pension fund customers for services they never received, joining a parade of big-ticket litigation arising from a major. . .  Full story

Australia's Lynas eyes Kalgoorlie for initial processing site

06/09 Australian rare earths producer Lynas Corp said on Friday it signed an agreement with the outback town of Kalgoorlie to explore a potential initial ore processing site as it tries to soothe concerns in. . .  Full story

Australian shares likely to rise as trade optimism keeps sentiment upbeat

06/09 Australian shares are set to open higher on Friday, following a rally on Wall Street sparked by renewed hopes of trade deal after the United States and China agreed to hold talks next month.. . .  Full story

Australia's Orion wins OK to develop $263 mln S.Africa zinc-copper project

05/09 South Africa's mines ministry on Thursday said Australia's Orion Minerals could go ahead with development of a 4 billion rand ($263 million) copper-zinc project in Northern Cape province.. . .  Full story

Australian shares end at 1-month high as Sino-U.S. trade talks lift mood, NZ rises

05/09 Australian shares ended a three-day losing streak to close at a one-month high on Thursday, as confirmation of U.S.-China trade talks cheered investors, while soaring crude oil prices powered energy stocks.. . .  Full story

ANZ predicts Australia cash rate at 0.25% by May 2020

05/09 ANZ Banking Group sees Australia's benchmark cash rate at 0.25% by May next year from a record low of 1% now, its economist said on Thursday, the most aggressive forecast among large domestic and. . .  Full story

Australia's Myer turnaround strategy bears fruit with online sales showing promise

05/09 Australian department store operator Myer Holdings Ltd swung back to an annual profit on Thursday as a turnaround strategy of ditching low-margin brands and cutting floorspace put the struggling retailer back on track.. . .  Full story

Shareholders of Australia's Kidman Resources approve Wesfarmers takeover

05/09 Kidman Resources Ltd said on Thursday its shareholders voted in favour of conglomerate Wesfarmers Ltd purchase of the lithium miner for about A$776 million ($524.11 million).. . .  Full story

Energy stocks pull Australian shares higher, NZ also rises

05/09 Australian shares rose on Thursday, tracking a global rally after a series of positive headlines out of Britain and Hong Kong and pushed higher by the energy stocks on a rally in crude oil. . .  Full story

Australia's AMP begins cull of financial adviser network

05/09 Australia's AMP Ltd has started telling some of its more than 1,500 aligned financial advisers that it is cancelling their licences, taking a tough stance in the wake of last year's inquiry into misconduct. . .  Full story

Australian shares to gain buoyed by energy stocks, NZ up

05/09 Australian shares were poised to rise on Thursday, supported by gains in the energy sector, after strong economic data from China drove commodity prices and Wall Street stocks higher. Oil. . .  Full story

Asian shares posted big losses in August on trade jitters, recession fears

04/09 Asian shares posted their biggest drop in three months in August, as escalating Sino-U.S. trade tensions and fears of a global recession prompted investors to sell riskier assets.. . .  Full story

Australian shares end lower on global growth worries, but NZ rises

04/09 Australian shares fell for a third straight day on Wednesday, pulled down by financial and healthcare firms as weak domestic growth data and a contraction in U.S. manufacturing activity rekindled fears of a slowdown. . .  Full story

Australia's economy slows to decade low, govt spurns stimulus

04/09 Australia's much-vaunted economy grew at its slowest pace in a decade last quarter as cash-strapped consumers went on strike, an urgent argument for more monetary and fiscal stimulus as headwinds mount globally.. . .  Full story

Australia shares in the red on global growth fears; NZ flat

04/09 Australian shares slipped on Wednesday, after weak domestic economic data and trade concerns heightened fears of a slowdown in global economic growth.. . .  Full story

Australia set to beat 2020 clean energy target

04/09 Australia has met its 2020 target for generating electricity from large-scale renewable energy a year ahead of plan, the country's clean energy regulator said on Wednesday, even as wind and solar investment has slowed.. . .  Full story

Australian regulator sues two regional banks over 'unfair' contracts

04/09 Australia's corporate regulator said on Wednesday it had sued Bank of Queensland and Bendigo and Adelaide Bank over what it called unfair loan contracts for small businesses.. . .  Full story

Australian shares set to open lower on trade, global growth fears; NZ down

04/09 Australian shares were likely to decline on Wednesday, in line with Wall Street, as weak U.S. economic data fueled global growth fears amid an unceasing trade war. U.S. President. . .  Full story

Woodside offers first Vincent crude cargo after long suspension-sources

03/09 Woodside Petroleum has offered the first Vincent crude cargo for export since production resumed at the $1.9 billion Greater Enfield project off western Australia, two trade sources with direct knowledge of the matter said on. . .  Full story

Australian shares softer on trade worries, NZ hits record high

03/09 Australia's benchmark index ended slightly lower on Tuesday, as persistent worries over U.S.-China trade frictions curbed investor risk appetite.. . .  Full story

Australia c.bank holds rates, repeats 'low for longer' view

03/09 Australia's central bank kept its cash rate at an all-time low of 1% on Tuesday, expecting recent back-to-back policy easing to boost broader economic growth in coming quarters, though it left the door ajar. . .  Full story

Australia's central bank holds rates at 1%

03/09 Australia's central bank left its cash rate at 1% on Tuesday, a widely expected decision as it gauges the impact of cuts in both June and July.. . .  Full story

Australian interest rate changes since 1990

03/09 The Reserve Bank of Australia held its cash rate at 1.0% on Tuesday, following its monthly policy meeting. The following is a chronology of the Reserve Bank of Australia's interest. . .  Full story

Australian shares flat ahead of RBA decision, trade tensions; NZ rises

03/09 Australian shares were little changed on Tuesday, ahead of a central bank interest rate decision, while continuing U.S.-China trade frictions kept most investors away from risky bets.. . .  Full story

Australia posts record surplus but retail sales soggy

03/09 Australian exporters enjoyed bumper sales last quarter gifting the country its first current account surplus in over four decades, however, wider economic conditions remained sluggish as households crimped spending.. . .  Full story

Australian regulator sues health insurer Medibank alleging benefits wrongly withheld

03/09 Australia's consumer watchdog said on Tuesday it had sued Medibank Private Ltd alleging the health insurer had denied benefits to hundreds of customers who were entitled to payouts.. . .  Full story

Australian shares to slip ahead of RBA policy meet; NZ flat

03/09 Australian shares were poised to edge lower on Tuesday as risk sentiment was subdued after China and the United States began imposing new tariffs on each other's goods, while investors also awaited the local. . .  Full story

Perth Mint's August silver sales jump about 19%, gold sales inch higher

02/09 The Perth Mint's silver sales soared 18.7% in August from a month earlier, the refiner said on Monday, while gold product sales inched higher. Silver coin sales surged to 1,171,233. . .  Full story

Australian lithium miners submerged by low prices

02/09 Having raced to ramp up lithium production over the past five years to exploit surging prices, Australian producers are now scrambling to cut supplies as prices plummet on falling demand in the world's top. . .  Full story

Australia shares end down as new U.S.-China tariffs trigger caution

02/09 Australian shares, led by energy stocks, edged lower on Monday, with investors unsettled by the latest blows traded by the United States and China in their tariff war.. . .  Full story

Resurgent Australian home prices a tonic for flagging economy

02/09 Australian house prices boasted their biggest monthly gain since 2017 in August amid record low interest rates and looser lending rules, a much-needed boost just days before data are expected to show the economy. . .  Full story

Australia shares flat as fresh trade tariffs take effect

02/09 Australian shares were little changed on Monday as investors stayed cautious, contemplating the after-effects of another round of tariff hikes in the festering trade war between the United States and China.. . .  Full story

Australia's AMP hires former CBA executive to head whistleblower program

02/09 Australia's largest listed wealth manager AMP Ltd on Monday appointed a former Commonwealth Bank executive to a new role as Group Whistleblowing Officer as it tries to regain customer trust following damaging revelations of misconduct.. . .  Full story

Australia's Incitec puts fertiliser business up for review, lowers EBIT guidance

02/09 Australia's Incitec Pivot Ltd, a fertiliser and explosives producer, said on Monday it would review its fertiliser business and lowered its operating profit forecast due to drought and increased costs.. . .  Full story

S.Africa's Woolworths buoyed by fashion turnaround, shares rise

30/08 South African retailer Woolworths Holdings Ltd reported a 2.1% drop in annual earnings on Thursday but cheered investors with a turnaround in its Fashion, Beauty and Home business that had weighed. . .  Full story

Australia, NZ shares end firmer as China fires up trade deal hopes

30/08 Australian shares climbed more than 1% on Friday, led by gains in miners and banks as investors were cheered by signs of a thaw in stalled Sino-U.S. trade talks.. . .  Full story

Australia's high household debt could complicate rate decisions - c.bank

30/08 High household debt in Australia could make the economy less resilient to shocks and complicate future interest rate decisions, the country's central bank said on Friday.. . .  Full story

Australian shares ride trade war 'sugar rush', NZ also rises

30/08 Gains in the banking and mining sectors boosted Australian stocks on Friday, as signs of tentative easing in the Sino-U.S. trade dispute provided some cheer to global risk sentiment.. . .  Full story

Australian regulator ramps up bank stress-testing program

30/08 Australia's banking watchdog will stress test the country's banks every year, instead of the current three-year cycle, ramping up oversight of a sector that has been marred by misconduct.. . .  Full story

Australian regulator takes action against BlueScope for alleged cartel conduct

30/08 Australia's competition regulator on Friday said it started civil proceedings against BlueScope Steel for alleged cartel conduct in the supply of flat steel products.. . .  Full story

Australian shares set to gain on upbeat China trade comments; NZ up

30/08 Australian shares looked set to rise on Friday, in line with Wall Street peers, as China's optimistic comments about trade negotiations with the United States buoyed risk sentiment. U.S. stocks. . .  Full story

S.Africa's Woolworths fashion business returns to sales growth, shares rise

29/08 South African retailer Woolworths Holdings Ltd reported a 2.1% drop in annual earnings on Thursday but cheered investors with a turnaround in its fashion, beauty and home business after fixing poor. . .  Full story

Australian shares edge up as risk appetites in check; NZ retreats

29/08 Australian shares notched meagre gains on Thursday as investors held bets in the absence of major economic news, while trade frictions and fears of global recession also contained risk appetites.. . .  Full story

Macquarie finalises $675 mln capital raising at small discount

29/08 Australian investment bank Macquarie Group finalised its biggest ever capital raising of A$1 billion ($675.4 million) on Thursday at a small discount to its stock's closing price before the deal was launched.. . .  Full story

Australian shares listless as major catalysts missing, NZ inches down

29/08 Australian shares were subdued on Thursday, as a dearth of major economic catalysts held most investors back from making big moves.. . .  Full story

Australia's Woolworths sees 'headwinds' as consumers pinch pennies

29/08 Australia's largest supermarket operator Woolworths Ltd gave investors little cause for optimism about a rebound in consumer sentiment as it reported a 9% rise in annual underlying profit on Thursday.. . .  Full story

Australia shares poised to edge down; New Zealand index up

29/08 Australian shares are set to inch lower on Thursday, despite gains on Wall Street, as looming recession fears and trade war concerns dampen risk sentiment in the market. The. . .  Full story

Australia's Macquarie finalises $675 mln raising -sources

28/08 Australian investment bank Macquarie Group has finalised its A$1 billion ($675 million) capital raising at A$120 a share after the deal was closed to international investors early on Thursday, according to three people with direct. . .  Full story

-Virgin Australia's new CEO swings axe as loss puts focus on costs (Aug. 28)

28/08 Virgin Australia Holdings said on Wednesday it would cut 750 jobs, merge business divisions and conduct a sweeping review of its operations after swinging to an annual underlying loss due to soft market conditions and. . .  Full story

-Australia's Macquarie to raise $675 mln for renewables, tech investment

28/08 Australian investment bank Macquarie Group Ltd has targeted A$1 billion ($675.4 million) in its biggest capital raising to ramp up investment and take advantage of expected asset price growth in renewable energy, infrastructure and tech.. . .  Full story

Australia c.bank likely on hold in Sep, rates seen at 0.5% by early 2020

28/08 Australia's central bank is all but certain to keep its cash rate at a record low of 1% next week though it will likely cut again two more times to boost inflation and support. . .  Full story

Australian shares rise as mining gains outpace downbeat banks, NZ also up

28/08 Australian shares ended higher on Wednesday, with investors favouring mining stocks over their banking counterparts as a deepening U.S. debt yield curve inversion raised concerns over margin pressure for lenders.. . .  Full story

Australia's sovereign fund posts double-digit returns on emerging markets bets

28/08 Australia's A$162.6 billion ($109.8 billion) sovereign wealth fund on Wednesday said it more than doubled its target return for the year, as it boosted investments in emerging markets.. . .  Full story

Australian shares inch up as miners counter losses in banks

28/08 Australian shares rose on Wednesday with investors picking up resource stocks and pulling out of financials, as a deepening U.S. debt yield curve inversion clouds the margin outlook for banks.. . .  Full story

Australia home building craters, prices promise some relief

28/08 Australian construction spending slid to its lowest in almost three years last quarter as a deepening downturn in home building spread to other sectors and posed a downside risk to growth across the economy.. . .  Full story

Australian shares likely to edge down on recession fears; NZ up

28/08 Australian shares are set to open marginally lower on Wednesday, tracking Wall Street peers, as a rise in demand for short-term U.S. Treasuries underscored fears of a global slowdown. An. . .  Full story

Are coal exports to India an opportunity or lost cause?: Russell

27/08 The Australian government thinks there are opportunities to boost coal exports to India. The Indian government wants to cut imports by half by boosting domestic output. Funny thing is, both could turn out to. . .  Full story

Australia c.bank open to unconventional policy if rates cut to 0.5%

27/08 Australia's central bank would consider unconventional monetary options if the cash rate was cut to 0.5%, Deputy Governor Guy Debelle said on Tuesday, though he hoped such heavy policy adjustments would not be needed.. . .  Full story

Australia, NZ shares end higher as trade rhetoric dials down

27/08 Australian shares closed higher on Tuesday, recovering some of the ground lost in the previous session after comments from U.S. President Donald Trump raised hopes that the United States and China will de-escalate their trade. . .  Full story

Pilbara Minerals takes lithium mine stake off table, slices sales f'cast

27/08 Pilbara Minerals Ltd on Tuesday took a stake in its Australian lithium mine off the market, cut its sales forecast and curbed spending plans amid a downturn in the market for the battery raw. . .  Full story

Australia shares edge up as Trump ratchets down trade war rhetoric

27/08 Australian shares inched higher on Tuesday, after comments by U.S. President Donald Trump raised hopes for some de-escalation in the Sino-U.S. trade war, persuading some investors to return to risk markets after a rout in. . .  Full story

Hong Kong protests fuel buyer interest in luxury Australia, NZ homes

27/08 Hong Kong buying enquiries for expensive Australian and New Zealand homes have ramped up due to anti-government protests in the Chinese-ruled city, according to property agents and real estate data, as wealthy investors look for. . .  Full story

Australia plans more action against big banks on money laundering

27/08 Australia's big banks will face potential penalties within the next six months for breaching money laundering laws, Australia's financial intelligence agency head said on Tuesday.. . .  Full story