Australasia

Australia to offer manufacturing sector $925 million in grants, PM to say

14h30 Australia will offer manufacturers up to A$1.3 billion ($924.8 million) in grants to expand, Prime Minister Scott Morrison will say on Thursday, as Canberra outlines its plan to revive an economy ravaged by COVID-19.. . .  Full story

Australia's Santos wins state green light for $2.6 bln gas project

08h31 An Australian state on Wednesday approved a A$3.6 billion ($2.6 billion) gas project planned by Santos Ltd, clearing the biggest hurdle for a long-opposed development that the government says could help fill a supply gap. . .  Full story

Australia's Rex signs deals to lease six 737 planes for planned Sydney-Melbourne route

05h51 Regional Express Ltd (Rex) said on Wednesday it had signed provisional deals with two lessors for six Boeing Co 737 planes as part of its plan to expand beyond regional flights to launch jet. . .  Full story

Australia shares fall on caution ahead of U.S. presidential debate

03h54 Australian shares fell on Wednesday, tracking overnight Wall Street losses, as investors pulled out of risky bets ahead of the first U.S. presidential debate, even as the domestic COVID-19 situation improved.. . .  Full story

Australia shares set to follow Wall Street lower, NZ inches up

29/09 Australian shares are set to fall on Wednesday, tracking a selloff on Wall Street, with an overnight drop in oil prices also likely to put pressure on the benchmark. Wall. . .  Full story

Australian shares give up early gains as miners, banks weigh

29/09 Australian shares gave up early gains to close flat on Tuesday, with miners and financials weighing the most, as investors closed positions at the end of the month while uncertainties surrounding the U.S. elections. . .  Full story

Australia expects La Nina to bring wetter than usual end to 2020

29/09 Australia's weather bureau expects a wetter than usual end to the year across the country's north and east, it said on Tuesday, benefiting grain growers after years of tinder-dry conditions and bringing a respite. . .  Full story

China copper smelters lift treatment charges floor as benchmark talks loom

29/09 China's copper smelters raised on Tuesday the floor levels of fourth-quarter treatment and refining charges (TC/RCs) by 9.4% from the prior three months, said two sources with direct knowledge of the matter.. . .  Full story

Australian shares track global equities to hit 3-week high, NZ down

29/09 Australian shares rose to their highest level in three weeks on Tuesday, boosted by an overnight rally in global equities, with prospects of virus hotspot Melbourne returning to near normal by Christmas adding to. . .  Full story

Air New Zealand has drawn down $72 mln of government loan

29/09 Air New Zealand Ltd said on Tuesday it had drawn down NZ$110 million ($72.20 million) of a NZ$900 million government loan facility to date as it shored up liquidity to help weather the coronavirus. . .  Full story

Weak demand now the bane of once-storming Aussie housing market

29/09 Australian housing market activity won't recover from the recent slowdown for at least a year as dwindling household incomes and soaring unemployment hammer demand, causing home prices to fall this year and next, a Reuters. . .  Full story

Australia shares tipped to follow global equities higher, NZ rises

28/09 Australian shares are set to rise on Tuesday amid a rally in global equities, with miners and gold stocks likely to lift the benchmark on the back of a jump in underlying commodity prices.. . .  Full story

Rio Tinto changes tack, ready for talks over Bougainville mine

28/09 Rio Tinto Ltd said on Tuesday that it was ready to talk to stakeholders over allegations of human rights breaches at a giant copper mine in Bougainville that it formerly owned, after community members filed. . .  Full story

Australia needs a bigger budget deficit for faster recovery from pandemic - Deloitte

28/09 Australia's conservative government will need to embark on a more aggressive spending plan to power the country's virus-stricken economy and boost employment when it unveils its budget next week, Deloitte Access Economics said on Monday.. . .  Full story

Australia shares end lower on financials and consumers; NZ recovers

28/09 Australian shares closed lower in a low-volume session on Monday, with financials and consumers stocks weighing the most.. . .  Full story

Australia's Quadrant Private Equity plans largest retail IPO since 2015

28/09 Australian buyout group Quadrant Private Equity has launched the process for listing its majority-owned online cosmetics shop, Adore Beauty, two sources said on Monday.. . .  Full story

Rio Tinto smelter in focus as New Zealand's PM seeks extension

28/09 New Zealand Prime Minister Jacinda Ardern said on Monday that she will negotiate to extend the operations of Rio Tinto's aluminum smelter in the country by 3-5 years if she is returned to power. . .  Full story

Australian shares dip as miners, gold stocks weigh; NZ falls

28/09 Australian shares edged lower on Monday as a drop in commodity prices dragged the country's prominent mining and gold sectors, overriding a jump in local tech stocks on the heels of a rally in. . .  Full story

Australia extends airline relief package with budget deficit seen at $140 bln

28/09 The Australian government said on Monday it will extend a COVID-19 relief package for domestic airlines by four months in its annual budget, as one economics forecaster predicted the country would record a A$198.5. . .  Full story

Australia trims resources revenue outlook on weaker coal, LNG exports

28/09 Australia has pared its forecasts for mining and energy export revenue this year, as liquefied natural gas (LNG) and metallurgical coal earnings are forecast to be slightly weaker than earlier expected.. . .  Full story

Australia shares set to rise as Victoria eases restrictions, NZ down

27/09 Australian shares are set to open higher on Monday with investors likely to cheer easing COVID-19 restrictions in the state of Victoria in the wake of slowing infections. Victoria, the. . .  Full story

Australia trims resources revenue outlook on weaker coal, LNG exports

27/09 Australia has pared its forecasts for mining and energy export revenue this year, as liquefied natural gas (LNG) and metallurgical coal earnings are forecast to be slightly weaker than earlier expected.. . .  Full story

Aboriginal group says Rio Tinto ignored pleas to save sacred cave from blast

25/09 Rio Tinto Ltd. ignored repeated requests from traditional owners for sacred Australian rockshelters to be protected in the months before the site was blasted during a mine expansion, an Indigenous group said on Friday.. . .  Full story

Australian shares end higher as govt signals ease in lending standards

25/09 Australian shares ended the week on a positive note, boosted by heavyweight banks, as investors cheered the government's signals to ease lending standards to free up credit and revive the pandemic-hit economy.. . .  Full story

Commonwealth Bank of Australia expects steady policy rates in Oct

25/09 Economists at the Commonwealth Bank of Australia (CBA) expect the country's central bank to hold interest rates at a record low 0.25% at its Oct. 6 board meeting, in contrast to calls for a. . .  Full story

Australia shares jump as banks cheer easing of lending laws

25/09 Australian shares climbed more than 1% on Friday, with the "Big Four" banks among top boost to the benchmark index, after the government said it would simplify bank lending rules to free up credit. . .  Full story

Australian public debt blows out on virus-driven welfare payment boost

25/09 Australian government debt has jumped to nearly 25% of gross domestic product (GDP), Treasurer Josh Frydenberg said on Friday, after Canberra drastically increased welfare payments as unemployment surged due to COVID-19 business closures.. . .  Full story

Australia shares set to open higher lifted by miners

25/09 Australian shares are likely to open marginally higher on Friday, with mining stocks seen boosting the benchmark as iron ore prices rose, while a fall in infections in Victoria improved hopes that restrictions will. . .  Full story

Australian shares end lower on prolonged economic recovery fears

24/09 Australian shares closed nearly 1% lower on Thursday, tracking declines on Wall Street, as fresh economic data from the United States cast doubts about a global recovery and hurt local stocks of energy and. . .  Full story

Australia abandons "unrealistic" budget surplus goal

24/09 Australia's conservative government will abandon its long-held aspiration to return the budget to surplus as the country grapples with its worst downturn in about a century, Treasurer Josh Frydenberg said on Thursday.. . .  Full story

Australia to overhaul bankruptcy laws to help firms over COVID-19

24/09 Australia on Thursday unveiled its biggest shakeup in bankruptcy laws in nearly three decades, allowing small businesses to trade while insolvent and take more control over debt restructuring, in a bid to help firms. . .  Full story

Australia shares fall over 1% as data signals slow global recovery

24/09 Australian shares fell more than 1% on Thursday, as concerns about the global economic recovery escalated after data showed that business activity in the United States and Europe cooled this month due to new. . .  Full story

Glencore to extend life of Australian copper smelter, refinery beyond 2022

23/09 Glencore will spend A$500 million ($356 million) to extend the life of its copper smelter and refinery in the Australian state of Queensland beyond 2022, after reaching a funding agreement with the state government, both. . .  Full story

NZ central bank holds rates but hints at further easing

23/09 New Zealand's central bank held its official cash rate at a record low on Wednesday but hinted at further easing and warned the economy may need support for a long time as the world. . .  Full story

Asian business confidence rebounds sharply, pandemic casts shadow- Thomson Reuters/INSEAD

23/09 Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.. . .  Full story

Australia preliminary retail sales down 4.2% in Aug, Victoria hit hard

23/09 Australian retail sales fell 4.2% in August from the month earlier, preliminary data showed on Wednesday, with the virus-stricken state of Victoria bearing the brunt of the downturn.. . .  Full story

Australia c.bank assessing various monetary policy options, A$ slips

22/09 Australia's central bank is assessing various monetary policy options including currency market intervention and negative rates to meet its inflation and employment goals, Deputy Governor Guy Debelle said on Tuesday.. . .  Full story

Australian regional airline Rex nears deal to fund big-city flights

22/09 Australian airline Regional Express Holdings Ltd (Rex) said on Tuesday it was in advanced talks with Asian investment firm PAG Asia Capital for up to A$150 million ($108.4 million) of funding to launch jet services. . .  Full story

Australia to invest $13 bln in energy technology to cut emissions

21/09 Australia plans to invest A$18 billion ($13 billion) over the next 10 years in technologies to cut carbon emissions in the fight against climate change, the country's energy minister said on Monday.. . .  Full story

New Zealand ends all pandemic restrictions outside main city of Auckland

21/09 New Zealand Prime Minister Jacinda Ardern on Monday lifted all coronavirus restrictions across the country, except in second-wave hotspot Auckland, as the number of new infections slowed to a trickle.. . .  Full story

Australia shares slip as virus cases resurge in Europe; NZ lower

21/09 Australian shares fell slightly on Monday, as a Wall Street decline in the previous session and surging cases of COVID-19 in Europe pushed investors to look past an improvement in the domestic coronavirus situation.. . .  Full story

Australia shares set to open lower; NZ edges higher

21/09 Australian shares are set to slide at the open on Monday, as a decline on Wall Street in the previous session and surging coronavirus cases in Europe weighed on sentiment. The. . .  Full story

Macquarie prepares intel analytics seller Nuix for $1.5 bln IPO

18/09 Australia's Macquarie Group is preparing to list its majority-owned software provider Nuix in a deal that would value the data-analysis program seller at close to $1.5 billion, two sources with knowledge of the plans told. . .  Full story

Australian judge quits Hong Kong court, citing national security law

18/09 One of the 14 foreign judges on Hong Kong's highest court has resigned due to concerns over a sweeping new national security law imposed by Beijing on the city, Australia's national broadcaster reported on. . .  Full story

China says Australia turning away Chinese firms will dent confidence

18/09 China's foreign ministry said on Friday that Chinese companies' confidence would be dented by the fact that Australia has recently turned several away in the name of national security.. . .  Full story

Australian shares drop on Victoria's virus woes; NZ at 1-month low

18/09 Australian shares ended lower for a second session on Friday, as losses in financials offset gains in mining stocks, while a rise in infections in the country's coronavirus hotspot Victoria dashed hopes of a. . .  Full story

Australia's Whitehaven Coal calls to reject investor resolution on climate change

18/09 Whitehaven Coal on Friday urged its shareholders to vote against a resolution at its annual general meeting that pushed for disclosing a plan annually on how it would meet certain goals of the Paris. . .  Full story

Qantas CEO Joyce's pay falls 83% because of coronavirus pandemic

18/09 The total pay for Qantas Airways Ltd Chief Executive Officer Alan Joyce fell by 83% in the financial year ending June 30 because of the impact of the coronavirus pandemic, the airline said on. . .  Full story

Australia shares shed early gains as COVID-19 hotspot reports more cases

18/09 Australian shares gave up initial gains to trade flat on Friday, with financials offsetting strength in miners, as a rise in daily new infections in the hotspot state of Victoria dashed hopes for a. . .  Full story

Australia shares set to rise at the open, NZ edges lower

18/09 Australian shares are set to open higher on Friday, likely snapping four straight weekly declines as relaxation of coronavirus-related curbs amid a slowdown in new daily infections revived risk appetite. The. . .  Full story

South Africa's Woolworths reviews strategy in bid to revive profit

17/09 Woolworths Holdings is reviewing its South African clothing business and the food division of Australian unit David Jones to respond to fashion trends and stem losses amid a slump in earnings,. . .  Full story

BHP sought to disturb cultural sites even after concerns raised - inquiry

17/09 BHP Group pursued permission to damage Aboriginal cultural sites in April, an Australian parliamentary inquiry heard on Thursday, despite being told of the distress it would cause traditional owners.. . .  Full story

Australia's jobless rate slips, but youth face tough times

17/09 Australia's jobless rate unexpectedly slipped from a 22-year high in August as employment surged past expectations helped by part-time work, but the economic toll from the pandemic has hit young job seekers hard.. . .  Full story

Australia c.bank policy measures working as expected - official

17/09 Monetary stimulus launched by Australia's central bank to support the virus-stricken economy has worked to lower interest rates and improve supply of credit in the economy, a senior official said on Thursday.. . .  Full story

Australia's unemployment rate unexpectedly declines to 6.8%

17/09 Australia's jobless rate unexpectedly declined from a 22-year high in August to 6.8% as employment surged past all expectations, though the increase was largely led by part-time work.. . .  Full story

Australia shares fall as mining, tech sell-off offsets Fed stance

17/09 Australian shares fell on Thursday, dragged by mining and tech stocks, as investors took cues from a renewed tech rout on Wall Street that led major indexes into the red despite initial optimism surrounding. . .  Full story

India's June qtr thermal coal imports down 42% - govt data

16/09 India's imports of thermal coal fell by 41.5% to 32.9 million tonnes during the quarter ended June 30, government data showed, as coronavirus lockdowns battered power demand.. . .  Full story

Australia shares track U.S. peers higher; Fed in focus

16/09 Australian shares followed their U.S. peers higher on Wednesday, led by tech stocks, as investors awaited the Federal Reserve's policy statement due later in the day for its view on the U.S. economy.. . .  Full story

Air New Zealand plans to cut up to 385 more cabin crew jobs

16/09 Air New Zealand Ltd said on Wednesday it aims to cut up to 385 more cabin crew jobs due to the lack of long-haul international flying, which would take its COVID-19 related job losses. . .  Full story

Australia shares rise on miners, tech boost; Fed meeting outcome eyed

16/09 Australian shares gained on Wednesday as miners rallied for a third straight session and tech stocks tracked their Wall Street peers higher, with investors hoping that the U.S. Federal Reserve will stick to its. . .  Full story

TPG Capital in talks to buy LVMH-owned Australian bootmaker R.M. Williams -AFR

16/09 Private equity giant TPG Capital Management LP is in talks to buy Australian bootmaker R.M. Williams from French fashion giant LVMH Moet Hennessy Louis Vuitton SE, the Australian Financial Review (AFR) reported on Wednesday.. . .  Full story

Australia's Fortescue says it won't consider heritage resolution at AGM

15/09 Fortescue Metals Group said on Tuesday it will not consider a shareholder resolution at its annual general meeting that called on the iron ore miner to halt activities that could damage Aboriginal cultural heritage. . .  Full story

Australia pushes gas growth to boost economic recovery

15/09 Australia's government set out a strategy on Tuesday to boost gas supplies and drive down energy prices, including a possible state-funded gas-fired power plant, as part of an effort to drive economic recovery after COVID-19.. . .  Full story

Shell focused on turning around troubled Australian operations

15/09 Undaunted by hefty writedowns on its Australian gas assets, Royal Dutch Shell sees its liquefied natural gas business and "new energy" acquisitions Down Under as core to its long term plans, the Australian unit's chairman. . .  Full story

Australia still addicted to fossil fuel with oil, gas subsidies: Russell

15/09 Australia's conservative government has doubled down on fossil fuels, offering subsidies to both the natural gas and oil refining industries as part of efforts to revitalise the economy after the devastation of the coronavirus pandemic.. . .  Full story

Australian shares trade flat ahead of RBA policy meeting minutes

15/09 Australian shares traded largely flat on Tuesday as caution ahead of the release of minutes from the central bank's September policy meeting offset hopes of more easing in coronavirus curbs in the state of. . .  Full story

Australia c.bank will stay patient for now - Westpac chief economist

15/09 The Reserve Bank of Australia (RBA) is seen unlikely to lower rates further to 0.1% at this stage, Westpac Chief Economist Bill Evans said on Tuesday as odds narrow for further monetary policy easing.. . .  Full story

Australia shares likely to open lower, NZ rises

15/09 Australian shares were poised to open lower on Tuesday as caution set in ahead of key global central bank meetings this week, with rising political tensions with China, Australia's largest trading partner, weighing on sentiment.. . .  Full story

Rio, other miners, should adopt "10th man" to reform boards: Russell

14/09 Rio Tinto's board may have stemmed the bleeding of the mining giant's public image with the belated dumping of Chief Executive Jean-S├ębastien Jacques after a widely-panned initial punishment for blowing up two significant Aboriginal rockshelters.. . .  Full story

-Australia's Citadel gets $326 mln bid from Pacific Equity, shares surge

14/09 Shares of Australian software company Citadel Group Ltd surged on Monday after an entity owned by the country's biggest private equity firm Pacific Equity Partners (PEP) proposed to buy it for A$448.6 million ($326.49 million).. . .  Full story

Australian shares end higher as miners lead, virus cases abate

14/09 Australian shares closed higher on Monday, boosted by mining stocks, after the country's COVID-19 hotspot state of Victoria reported its lowest single-day rise in new infections in nearly three months.. . .  Full story

Australian court fines NAB pension funds $42 mln over fees for no service

14/09 Australia's federal court has fined pension funds run by National Australia Bank A$57.5 million ($41.9 million) for charging fees with no service to thousands of retirees, the country's corporate watchdog said on Monday.. . .  Full story

Australian heavyweight Macquarie sees H1 profit slump in virus upheaval

14/09 Australia's Macquarie Group Ltd warned its first half profit will fall by around 35% as the coronavirus pandemic shreds economies around the world, a rare downgrade from the financial powerhouse that pushed its shares lower. . .  Full story

New Zealand to lift coronavirus curbs in most of country on Sept. 21

14/09 New Zealand will lift coronavirus restrictions across the country on Sept. 21, except in its biggest city, Auckland, which is the epicentre of a second wave of infections, Prime Minister Jacinda Ardern said on Monday.. . .  Full story

Australian shares rise on easing of curbs, low new infections

14/09 Australian shares gained on Monday, after recording heavy losses last week, as a near three-month drop in daily cases of the novel coronavirus in Victoria state and a gradual easing of restrictions in its. . .  Full story

Australia shares poised to open flat; NZ rises

14/09 Australian shares are set to open flat to marginally higher on Monday as escalating political tension with China continues to weigh on sentiment, while a gradual easing of coronavirus-related curbs in Victoria is likely. . .  Full story

Chinese investment to Australia halved in 2019, report finds

13/09 Chinese investment to Australia roughly halved in 2019 on a shift toward investment in emerging markets and negative perceptions in China of doing business with Australia, a report said on Sunday.. . .  Full story

Australian shares end at a near 2-1/2-month low on worries about virus curbs

11/09 Australian shares closed at their lowest in nearly two-and-a-half months on Friday as hopes that the coronavirus curbs would ease soon were dashed after state leaders defended regional lockdowns and internal border closures.. . .  Full story

Australia shares hit over 2-month low as tensions with China mount

11/09 Australian shares fell 1% on Friday and were on track to post their fourth straight weekly decline, on rising geopolitical tensions with China, the country's biggest trading partner, and uncertainty over the easing of coronavirus-led. . .  Full story

New Zealand to review livestock exports by sea after capsizing of ship

11/09 New Zealand on Friday launched a review of its livestock exports by sea, after a ship that left its shores with nearly 6,000 cows and 43 crew members capsized off Japan last week.. . .  Full story

Shareholder group seeks Fortescue moratorium on Australian cultural site damage

10/09 Australia's Fortescue Metals Group said on Thursday that it would not support a shareholder resolution that urged it to halt mining activities that could damage Aboriginal cultural heritage sites because it already has proper procedures. . .  Full story

Australian banks loan deferrals shrink in July, task still 'immense'

10/09 The balance of Australian loans on payment "holidays" due to the coronavirus pandemic fell 12% to A$240 billion ($174 billion) in July, official data showed on Thursday, as lenders start asking customers to. . .  Full story

Australian shares end higher on hopes of easing in virus curbs

10/09 Australian shares closed higher on Thursday as a decline in daily cases in COVID-19 hot spot Victoria boosted hopes of an easing in restrictions, with investors awaiting a European Central Bank policy decision later in. . .  Full story

Pressure mounts for Rio board after Australian cave blast review

10/09 Australian superannuation fund Hesta has become the latest investor to voice dissatisfaction over the findings of Rio Tinto's board-led review into how the iron ore miner legally detonated historically significant Aboriginal rockshelters.. . .  Full story

Australia's AMP hires Symmetra to review workplace behaviour

10/09 Australian financial advisory firm AMP Ltd said on Thursday it had appointed inclusion and diversity consultancy Symmetra to undertake a workplace conduct review after the company was hit by a corporate scandal.. . .  Full story

Tech shares push Australia higher on Wall St cues, NZ rises

10/09 Australian shares rose 1% on Thursday boosted by a rally in technology stocks, which tracked their U.S counterparts, and as the country's second most populous state of Victoria reported fewer coronavirus cases.. . .  Full story

Australian business leaders respond to corporate scandals, #MeToo movement

10/09 A group of mostly male executives from Australia's top companies said in a report on Thursday that boards should be tougher in tackling sexual harassment at a time when the country is facing a. . .  Full story

Australia shares set to open higher, NZ rises

10/09 Australian shares are likely to open higher on Thursday, after losing more than 2% in the previous session, tracking a rebound in U.S. tech stocks, which ended in the black overnight following three straight. . .  Full story

Valuation of Asian shares rises to 11-year high

09/09 The valuation of Asian shares surged to a near 11-year high in August, Refinitiv data showed, thanks to an increase in global liquidity and emerging signs of economic recovery in some parts of the. . .  Full story

Australia shares close over 2% lower as coronavirus cases surge in hotspot

09/09 Australian shares finished at their lowest in over two months on Wednesday, following a tech-led rout on Wall Street, as a spike in infections in the country's coronavirus hot spot Victoria weighed on sentiment.. . .  Full story

Virgin Australia to cull a third of its Boeing 737 fleet under Bain ownership

09/09 Virgin Australia Holdings Ltd said on Wednesday it is returning a third of its fleet of Boeing Co 737 planes to lessors and financiers as part of a turnaround plan under new owner Bain. . .  Full story

Australia shares hit five-week low on Wall Street tech rout

09/09 Australian shares fell to their lowest in more than five weeks on Wednesday, with tech stocks getting hammered the most as investors took cues from declines in the U.S. blue-chip technology sector that sent. . .  Full story

Australia shares finish higher on stimulus hopes

08/09 Australian shares settled higher on Tuesday as sentiment was boosted by a report that banks would be required to take up more debt from the government to aid stimulus measures to combat the economic. . .  Full story

China's sliding coal imports weakens one of the last bullish supports: Russell

08/09 Among China's generally strong imports of major commodities in August there was one standout area of weakness - the large drop in coal.. . .  Full story

Australia business conditions soften, confidence still fragile - survey

08/09 A measure of Australian business conditions fell sharply in August reflecting weakness in employment, sales and profitability as Victoria relapsed into a coronavirus lockdown, and though confidence rose it still remained fragile.. . .  Full story

Australian shares extend gains on COVID-19 vaccine optimism

08/09 Australian shares rose for a second straight session on Tuesday, as optimism surrounding the development of potential COVID-19 vaccines kept investor sentiment high, with miners and financials leading the charge.. . .  Full story

Australian banks to buy more govt debt under liquidity rule changes - AFR

08/09 Australian banks will be required to buy up to A$240 billion ($175 billion) of new government debt to boost emergency liquidity levels, which will also cut government borrowing costs and help fund coronavirus stimulus spending,. . .  Full story