Australasia

Australia retail sales slide in August, but relief in sight

04h07 Australian retail sales dived for a third straight month in August as half the population were trapped in coronavirus lockdowns, though reopening is in sight as vaccinations race toward world-beating levels.. . .  Full story

Australia shares track Wall Street lower; gold loses shine

03h59 Australian shares fell on Tuesday as technology stocks tracked the overnight plunge in Wall Street's tech-heavy Nasdaq index, while a firmer U.S. dollar pushed domestic gold stocks to their lowest level in 1-1/2 years.. . .  Full story

Australia shares poised to open lower, NZ up

27/09 Australian shares are set to open lower on Tuesday, likely dragged down by tech stocks taking cues from a weak session on Wall Street overnight which could possibly offset a boost in the local. . .  Full story

Australia shares end higher on reopening hopes; energy, bank stocks gain

27/09 Australian shares ended higher on Monday, buoyed by optimism over plans to lift the COVID-19 lockdown in the country's most populous state, while heavyweight energy and bank stocks also provided momentum.. . .  Full story

Australian shares hit over 1-week high as energy, bank stocks shine

27/09 Australia shares hit a more than one-week high on Monday, boosted by heavyweight banking and mining stocks on strong commodity prices over the weekend, though losses in tech and healthcare capped gains.. . .  Full story

Australian shares set to open flat, NZ falls

26/09 Australian shares are set to open flat on Monday, as fears of a potential fallout from debt-laden China's Evergrande could offset a likely boost to miners from strong commodity prices. The. . .  Full story

Australian PM refuses to commit to phasing out fossil fuels

26/09 Australian Prime Minister Scott Morrison refused to commit to phasing out fossil fuels as a major climate conference approaches, while his deputy doubled down on opposing targets for net zero emissions of greenhouse gases.. . .  Full story

Australia's treasurer flags costs of not having net-zero emissions target

24/09 Australia must match developed nations and commit to cutting carbon emissions to net zero by 2050, or face higher borrowing costs, its treasurer said on Friday, as pressure builds on the government to firm. . .  Full story

Australia should do more to contain housing bubble, climate change-IMF

24/09 Australian authorities need to tighten home loan standards to cool a red-hot housing market and reduce risks to the financial system, the IMF warned on Friday, while also calling for more action on climate. . .  Full story

Australia shares set to open higher; NZ rises

24/09 Australian shares are set to open marginally higher on Friday, extending gains into a fourth straight session, taking cues from a strong overnight session on Wall Street, with strong commodity prices likely boosting miners and. . .  Full story

China's pledge to cut project finance is the 'new normal' for coal

23/09 Australia and Indonesia, the world's biggest coal exporters, face an accelerated decline in global demand for their coal shipments after China said it would stop building coal-fired power plants overseas, analysts, environmental groups and industry. . .  Full story

Australian billionaire sets up global green hydrogen organisation

23/09 Australian mining billionaire Andrew Forrest on Thursday launched a green hydrogen organisation, GH2, in a push to speed up development of the clean fuel to help curb global warming.. . .  Full story

Australia shares hit 7-week high as Evergrande assurance calms market jitters

23/09 Australian shares ended at a seven-week high on Thursday, led by tech and energy firms, as positive news from embattled developer China Evergrande Group calmed investor nerves, while a hawkish stand by the U.S.. . .  Full story

Sun cable to invest $2.5 bln in Indonesia on Singapore power link

23/09 Sun cable, an Australian-Singapore venture, will invest $2.5 billion in Indonesia as part of an ambitious solar power project to provide Singapore with up to 15% of its energy requirements, officials said on Thursday.. . .  Full story

Australians find silver lining in lockdowns as wealth booms

23/09 Australians are finding a silver lining to lockdowns as super-cheap credit lifts the value of homes and shares to record highs, a windfall of wealth that gives consumers the means to spend big once. . .  Full story

Fonterra eyes Australia IPO as it focuses on New Zealand milk

23/09 Fonterra Co-operative Group is considering an initial public offer of its Australian operation, the world’s biggest dairy exporter said on Thursday, in an exercise that could return about $700 million to shareholders by 2024.. . .  Full story

Australia shares rise for third session on tech, energy boost

23/09 Australian shares rose for a third straight session on Thursday, driven by tech and energy firms, with strong gains on Wall Street overnight also supporting sentiment.. . .  Full story

Australia's Dexus teams up with APN to buy Perth's Jandakot Airport

23/09 Australian real-estate firm Dexus teamed up with APN Industria REIT on Thursday to buy Perth's Jandakot Airport for A$1.3 billion ($939.90 million), as it looks to venture out of the fund management business.. . .  Full story

-Melbourne police arrest 200 at COVID-19 lockdown protests

22/09 Police in Australia's second largest city of Melbourne arrested more than 200 people after projectiles thrown by protesters injured two officers on Wednesday, the third consecutive day of demonstrations against COVID-19 curbs.. . .  Full story

Australia shares end higher as China Evergrande dodges default

22/09 Australian shares ended higher on Wednesday in line with other markets, after troubled developer China Evergrande Group assured it would avoid default, dousing investor worries of an imminent crisis unleashing global financial chaos.. . .  Full story

Australian regulators closely watching home loan boom-RBA

22/09 Australia's booming housing market is leading to a build up of consumer debt that could become a risk to financial stability, a top central banker cautioned on Wednesday, while also noting the strength was positive. . .  Full story

Australia shares fall as subdued copper prices weigh on metal stocks

22/09 Australia shares fell on Wednesday, weighed down by heavyweight banks and mining stocks as copper prices dropped, although gains in energy, tech and gold stocks capped losses.. . .  Full story

-Melbourne police fire pepper balls, pellets to break up COVID-19 protest

21/09 Police in Melbourne fired pepper balls and rubber pellets on Tuesday to disperse about 2,000 protesters who defied stay-at- home orders to damage property, block a busy freeway and injure three officers, leading to more. . .  Full story

Australian shares recoup losses, end higher on energy boost

21/09 Australian shares closed higher on Tuesday, boosted by energy stocks, although gains were capped by weakness in global markets over fears of a potential debt default by China Evergrande Group.. . .  Full story

RBNZ comments dampen market expectations of a big rate hike

21/09 New Zealand's central bank dampened expectations of a big interest rate hike when it meets next month, with comments on Tuesday that indicated it may take a more cautious approach.. . .  Full story

Australia's central bank wary in case Delta slows recovery

21/09 Australia's central bank is concerned the spread of the Delta variant could slow the economy's recovery once coronavirus lockdowns start to ease, although it still expects strong growth to resume next year.. . .  Full story

Australia shares fall on weak financials, tech; China Evergrande spooks markets

21/09 Australian shares fell for a third straight session on Tuesday as financial and tech stocks weighed, while debt crunched property firm China Evergrande rocked global markets on concerns about spillover risks to the world's second-largest. . .  Full story

RBNZ Assistant Governor Hawkesby says central bank's 'least regrets' supported recovery

20/09 The Reserve Bank of New Zealand's (RBNZ) Assistant Governor Christian Hawkesby in a speech released on Tuesday said the monetary policy committee's "least regrets" approach to deliver stimulus sooner rather than later helped the economic. . .  Full story

Australia shares post worst session in 7 months on weaker commodity prices

20/09 Australian shares fell more than 2% on Monday in their worst session in nearly seven months, as weak commodity prices hammered mining and energy stocks, while AusNet Services soared after receiving a sweetened buyout offer.. . .  Full story

Sydney COVID-19 cases fall as curbs ease in virus hotspots

20/09 Australia's New South Wales (NSW) state on Monday reported its lowest rise in daily COVID-19 cases in more than three weeks as some lockdown restrictions were eased in Sydney, the state capital, amid higher. . .  Full story

Australia steps up hydrogen funding ahead of climate talks

20/09 Australia said on Monday it would step up grant funding for hydrogen projects to boost clean energy output, as it faces international pressure to set more ambitious carbon emissions reduction targets for 2030.. . .  Full story

Australia shares fall over 1% as miners, energy stocks weigh

20/09 Australian shares fell more than 1% on Monday, dragged down by heavyweight mining and energy stocks hurt by weak underlying commodity prices, while tech stocks tracked weakness on the Wall Street.. . .  Full story

Transurban consortium to pay $8.1 bln for full control of Sydney tunnel network

20/09 A consortium led by Australia's Transurban Group will pay A$11.1 billion ($8.06 billion) for a near half stake of the country's longest auto tunnel network, giving it full ownership of the asset and dominance of. . .  Full story

Australia shares post second weekly drop as iron ore miners hit multi-month lows

17/09 Australian shares ended lower on Friday in a second straight weekly drop, dragged down by iron ore miners hitting multi-month lows and surging coronavirus cases across parts of the country raising concerns over a. . .  Full story

Pandemic-hit Qantas weighs new pay structure to keep key executives

17/09 Qantas Airways Ltd said on Friday it was considering new ways to structure pay to ensure it could retain key executives as it enters the third financial year affected by the pandemic-driven slowdown in. . .  Full story

Australian shares fall as Iress, miners drag

17/09 Australian shares fell on Friday, dragged by mining stocks and a drop in software firm Iress after it rejected a buyout bid, with worries of higher COVID-19 cases denting sentiment.. . .  Full story

Australia's coal mines risk becoming stranded after 2030 -cbank report

16/09 Australia's coal mines are at risk of becoming stranded assets under three out of four scenarios that consider how the global energy transition will unfold, according to a report by the country's central bank.. . .  Full story

Australia shares rise most in over six weeks as virus curbs ease

16/09 Australian shares posted their biggest jump in more than six weeks on Thursday, as easing restrictions for vaccinated citizens in the country's largest state lifted sentiment.. . .  Full story

Australia's CBA to plead guilty to consumer credit insurance mis-selling charges

16/09 Commonwealth Bank of Australia, the country's top lender, said on Thursday it would plead guilty to 30 charges brought against it in the federal court for mis-selling consumer credit insurance (CCI) to its customers.. . .  Full story

Australian employment slides in August as lockdowns slash workers' hours

16/09 Australian employment dived in August as coronavirus lockdowns in Sydney and Melbourne forced businesses to lay off workers and slash hours, while the jobless rate was nudged lower by a sharp fall in the. . .  Full story

Energy, mining stocks lift Australia shares as markets cheer easing of virus curbs

16/09 Australian shares rose on Thursday, driven by gains in energy and mining sectors on stronger commodity prices, while investors took comfort in the government's decision to ease restrictions for vaccinated citizens in New South Wales.. . .  Full story

Australia shares set to open higher, NZ rises

16/09 Australian shares are set to rise on Thursday, as investors are likely to cheer the ending of a night curfew in Sydney, as authorities ramp up vaccinations in New South Wales.. . .  Full story

Australian shares end lower as energy, miners weigh

15/09 Australian shares closed lower on Wednesday, after gaining for three consecutive sessions, as energy stocks declined and weak iron ore prices weighed on heavyweight miners.. . .  Full story

Australia releases geological mapping data for southeast

15/09 Australia's geological agency has published in-depth minerals mapping data that it hopes will drive fresh investment in mining and agriculture across the country's southeast, the agency and resources minister said on Wednesday.. . .  Full story

Miners drag Australia shares lower as iron ore prices lag

15/09 Australian shares fell on Wednesday, dragged down by losses in heavyweight miners BHP Group and Rio Tinto due to softer iron prices, though gains in gold stocks limited the fall.. . .  Full story

Australian consumers cheered by reopening plans as vaccinations surge

15/09 A measure of Australian consumer sentiment bounced in early September amid hopes harsh coronavirus restrictions would soon be eased as the pace of vaccinations stepped up markedly across the states.. . .  Full story

Miners likely to drag Australia shares lower, NZ down

15/09 Australian shares are set to open lower on Wednesday, likely dragged by losses in coal and iron ore miners due to softer prices of underlying commodities. The local share. . .  Full story

Australian court again rejects Kepco plans for thermal coal mine

14/09 An Australian state court has upheld a decision to deny approval for South Korean power utility Kepco to develop a thermal coal mine in New South Wales state due, in part, to its impact. . .  Full story

Australia's RBA optimistic on recovery, still committed to low rates

14/09 Australia's top central banker said on Tuesday coronavirus lockdowns would cause a sharp contraction in the economy this quarter but was confident activity would rebound quickly once restrictions were eased in coming months.. . .  Full story

Australian home prices jump record 6.7% in Q2

14/09 Prices for Australian residential properties in the major cities climbed a record 6.7% in the June quarter versus the previous quarter amid super-low borrowing costs and strong demand for work-at-home property.. . .  Full story

Australia business conditions show promising improvement in August-survey

14/09 A measure of Australian business conditions showed a welcome improvement in August as sales and profits weather coronavirus lockdowns in parts of the country, offering hope of a speedy recovery once restrictions ease.. . .  Full story

Tech stocks drag Australian shares lower; energy firms jump

14/09 Australian shares fell on Tuesday, dragged by technology stocks, although the losses were limited by domestic energy stocks that rose on firmer oil prices.. . .  Full story

Aussie shares gain on boost from Sydney Airport, energy and materials stocks

13/09 Australian shares rose on Monday, boosted by airport operator Sydney Airport Holdings surging on an improved takeover bid and solid gains in the energy and materials stocks.. . .  Full story

-Sydney Airport sale a step closer after improved $17.4 bln offer

13/09 A sale of Australia's biggest airport moved closer on Monday as an infrastructure investor group won permission to conduct due diligence on Sydney Airport Holdings Pt Ltd, after sweetening its takeover offer to A$23.6 billion. . .  Full story

Australia's NSW state says coronavirus vaccination pace slows

13/09 The government of the Australian state of New South Wales (NSW) said on Monday the pace of COVID-19 vaccinations had slowed as first-dose coverage neared 80% and urged the unvaccinated to get shots soon. . .  Full story

Australian shares rise on Sydney Airport Holdings, energy stocks boost

13/09 Australian shares rose on Monday as airport operator Sydney Airport Holdings surged after getting a sweetened takeover offer, with firmer energy stocks boosting the benchmark further.. . .  Full story

Miners, gold stocks set to drag Australia shares lower

13/09 Australian shares are set to open lower on Monday, likely weighed by losses in prominent mining and gold stocks due to weaker commodity prices. The local share price index. . .  Full story

Australia's Queensland state warns of possible COVID-19 lockdown

11/09 Australia's third most populous state said on Saturday it may order a snap lockdown after a cluster of COVID-19 cases, as the country posted a record one-day rise in daily infections.. . .  Full story

China lobbies Australia parliament on joining regional trade pact

10/09 China has lobbied the Australian parliament to help it join a major regional trading pact, describing the strength of Chinese trade with Australia and avoiding mention of billions of dollars in punitive sanctions imposed by. . .  Full story

Miners, energy stocks power Australian shares as commodity prices shine

10/09 Australian shares rose on Friday as strong metals and oil prices powered commodity stocks, while the easing of COVID-19 lockdowns in most of Victoria state also fuelled sentiment.. . .  Full story

China's power plants start winter coal restocking early

10/09 Major Chinese power plants are set to kick off coal inventory restocking ahead of the winter heating season earlier than in previous years, worried by record-high coal prices and tighter supplies.. . .  Full story

Australia appoints former Macquarie boss to supervise financial regulators

10/09 Australia's government has appointed Nicholas Moore, who led Macquarie Group for a decade until 2018, to chair a new regulator review board to report on the effectiveness of the country's banking and corporate regulators.. . .  Full story

Miners push Australian shares higher as aluminium prices surge

10/09 Australian shares rose on Friday, helped by mining stocks after aluminium prices hit multi-year highs, with investors also cheering exiting of COVID-19 lockdowns in most regions in the state of Victoria.. . .  Full story

Gold stocks likely to push Australia shares higher

10/09 Australian shares are set to rise on Friday, likely helped by gains in gold stocks on the back of firm bullion prices. The local share price index futures. . .  Full story

Australia's Crown Resorts warns may not continue as 'going concern'

09/09 Crown Resorts' auditor on Thursday warned that numerous money-laundering probes into the Australian casino operator and the impact of the COVID-19 pandemic cast "material" uncertainty over the company's ability to continue as a going concern.. . .  Full story

Asian stocks' relative valuations to global peers at 14-month low

09/09 The relative price valuations of Asian equities compared with their global peers are at a near 14-month low, data showed, after their lacklustre performance due to worries over slowing growth and the spread of. . .  Full story

Australian shares post biggest drop in nearly 3 mths as miners, tech stocks weigh

09/09 Australian shares posted their biggest drop in nearly three months on Thursday, hit by mining and tech stocks, while concerns over rising COVID-19 cases derailing an economic recovery also dented sentiment.. . .  Full story

Australian banks reject pressure to deal with cryptocurrency firms

09/09 Two of Australia's largest lenders, National Australia Bank (NAB) and Westpac , on Thursday rejected criticism that they are stymieing competition by refusing to do business with cryptocurrency providers.. . .  Full story

Australian shares fall on virus fears; miners, tech stocks drop

09/09 Australian shares fell on Thursday, on mounting concerns that the Delta coronavirus variant may derail a global economic recovery, with declines in mining and technology stocks contributing to most of the losses.. . .  Full story

Australia shares set for a lower start; NZ rises

09/09 Australian shares are expected to open lower on Thursday on mounting concerns the Delta coronavirus variant may derail the global recovery, with Wall Street ending down. The local share price index. . .  Full story

Gold, mining stocks drag Australian shares lower

08/09 Australian shares ended lower on Wednesday as heavyweight miners and gold stocks slipped on weaker commodity prices, while rising coronavirus cases at home also added to investor worries.. . .  Full story

Australia's Macquarie flags better than expected first-half profit, shares hit record

08/09 Macquarie Group said on Wednesday that first-half profit may not fall as much as some analysts feared, sending shares in the financial conglomerate to a record high.. . .  Full story

New Zealand banks, post office hit by outages in apparent cyber attack

08/09 Websites of a number of financial institutions in New Zealand and its national postal service were briefly down on Wednesday, with officials saying they were battling a cyber attack.. . .  Full story

Australia shares fall as commodities slump hits gold, miners

08/09 Australian shares fell on Wednesday, dented by heavyweights mining and gold sectors after most commodity prices took a hit on demand crunch as the greenback strengthened.. . .  Full story