Australasia

Australian teens lead class action against Whitehaven's coal mine expansion

09h18 A class action against a coal mine extension that begins on Tuesday could make it more difficult for coal mines to be approved in Australia on the basis of intergenerational equity and climate change,. . .  Full story

Australian shares jump most in nearly 2 months as upbeat data boosts recovery hopes

08h07 Australian shares notched their best session in nearly two months on Monday, as upbeat economic data strengthened recovery hopes, while the central bank increasing the size of its daily quantitative easing programme also aided sentiment.. . .  Full story

Auckland coronavirus lockdown tests New Zealanders' patience

04h15 The mayor of Auckland called for residents to be prioritised for COVID-19 vaccines after New Zealand's biggest city was thrown into its fourth pandemic lockdown over the weekend.. . .  Full story

Australia shares climb 1.5% as country inches towards pre-pandemic normal

03h15 Australian shares rose more than 1% on Monday, after some of the country's most populous states further eased restrictions over the weekend as the regions recorded no community transmissions of the new coronavirus that. . .  Full story

Australia's Crown Resorts director quits over ties to billionaire shareholder

03h13 Crown Resorts said on Monday that director John Poynton had quit the board over accusations he was too close to top shareholder James Packer, as another regulator said it was probing the troubled casino. . .  Full story

ANZ writes down AmBank stake after 1MDB scandal settlement

02h55 Australia and New Zealand Banking Group said on Monday it will write down the value of its investment in AMMB Holdings Berhad (AmBank) after the Malaysian bank settled a claim linked to the massive financial. . .  Full story

Australia job advertisements near 2-1/2 year peak in Feb

02h32 Australian job advertisements rose to a near 2-1/2 year peak in February, providing another sign massive fiscal and monetary stimulus were working to prop up the country's economy following a coronavirus pandemic induced recession.. . .  Full story

Australia shares poised to rise as domestic restrictions ease

28/02 Australian shares were set to open higher on Monday, tracking gains on Wall Street, with sentiment likely to be buoyed by the further easing of domestic pandemic restrictions over the weekend.. . .  Full story

Chinese investment in Australia plummets amid tensions

28/02 Chinese investment in Australia fell by 61% in 2020 to the lowest level recorded by the Australian National University in six years, coinciding with a worsening diplomatic dispute.. . .  Full story

Global bond rout turns up the heat on central banks

26/02 Central banks in Asia struggled to smother a selloff in global bonds on Friday, piling pressure on their bigger peers to do more, as spooked investors sold assets to cover deepening losses and rushed. . .  Full story

Australia's cenbank seen holding near-zero rates until end-2022

26/02 Australia's central bank is expected to hold key rates at a historic low of 0.1% at its monthly policy meeting next week, a majority of economists polled by Reuters showed, with rates seen at. . .  Full story

Australian shares tumble as firmer bond yields, fall in tech stocks weigh

26/02 Australian shares closed at their lowest level in nearly a month on Friday, with tech stocks leading the declines, as risk assets lost their sheen after global bond yields firmed on expectations of economic. . .  Full story

Aboriginal Australian group encouraged but wary of South32's engagement

26/02 An Australian Aboriginal group said it was encouraged by the increased engagement taken by miner South32 over a new mine in Western Australia but remained cautious whether the miner will do more than the. . .  Full story

Australia, NZ shares tumble after Wall Street tech rout

26/02 Technology-related companies dragged the Australian benchmark on Friday, tracking a sharp sell-off among their Wall Street peers overnight following a jump in benchmark U.S. Treasury yields.. . .  Full story

Australia's RBA tries to calm bond rout with surprise buying

26/02 Australia's central bank on Friday launched an unscheduled offer to buy three-year government bonds as a rout in global markets sent yields further above its 0.1% target.. . .  Full story

Australia shares set to open lower; NZ falls

25/02 Australian shares were set to tumble on Friday, tracking U.S and global equity markets lower, as tech-related stocks were under pressure following a rise in U.S bond yields and with weaker bullion prices likely. . .  Full story

S.Africa's Woolworths expands casual wear offering after return to profit growth

25/02 South African retailer Woolworths said on Thursday it was expanding its casual and sports leisure wear ranges to reduce reliance on formal wear, after reporting a rise in half-year profit for the first time since. . .  Full story

Australia shares rise as strong commodity prices lift energy, mining stocks

25/02 Australian shares closed higher on Thursday, helped by gains in energy and mining stocks as commodity prices continued to strengthen, and as data showed a higher-than-expected rise in domestic business investment.. . .  Full story

Australia expects wetter than usual autumn as La Nina lingers

25/02 Australia will receive above-average autumn rains in its grain-growing eastern regions, helped by La Nina, although the weather phenomenon has passed its peak, the weather bureau said on Thursday.. . .  Full story

Australia Q4 business investment surprisingly jumps

25/02 Australian business investment rose by a larger-than-expected 3% with firms ramping up spending on plant and machinery despite the coronavirus pandemic in a positive sign for the country's economy.. . .  Full story

Energy stocks drive Australian shares higher; a2 Milk drags down NZ

25/02 Australian shares rose on Thursday as energy stocks jumped on stronger crude oil prices and technology stocks tracked their U.S. peers higher after three straight sessions of falls.. . .  Full story

Australia's Qantas pushes back int'l travel target as H1 revenue falls 75%

25/02 Qantas Airways Ltd said it had pushed back its target for a widespread resumption of international travel from Australia by four months until the end of October, when the country's vaccination programme is expected to. . .  Full story

Australia's Qantas posts $820 mln H1 loss, pushes back int'l travel target

24/02 Qantas Airways Ltd said on Thursday it did not expect a widespread resumption of international travel from Australia until the end of October after posting a A$1.03 billion ($820.40 million) pretax underlying loss for the. . .  Full story

Australian shares set to open higher, NZ falls

24/02 Australian shares were poised to open higher on Thursday following a strong lead from Wall Street overnight, with energy stocks also likely to support the local benchmark as crude prices hit 13-month highs.. . .  Full story

RBNZ governor says inflation target needs to be met before tightening

24/02 New Zealand's central bank governor said on Thursday that inflation will need to sustainably be at its target midpoint range before any tightening of monetary conditions is considered.. . .  Full story

Australian record-low wages growth cements lower-for-longer rate view

24/02 Australian wages grew at the slowest pace on record last quarter, data on Wednesday showed, pointing to the mountainous challenge policymakers face in boosting inflation to desired levels.. . .  Full story

Australian shares fall as commodity rally loses steam

24/02 Australian shares fell on Wednesday as a drop in gold and iron ore prices pressured commodity-related stocks after a stellar two-session rally on economic recovery optimism.. . .  Full story

Australia shares set to track Wall Street lower; NZ dips

23/02 Australian shares are poised to open lower on Wednesday, as investors take their cue from a weak session on Wall Street. The local share price index futures. . .  Full story

Australia's SEEK to split, co-founder Bassat to run investment business

23/02 Australia's SEEK Ltd plans to split its job listings and investments businesses and cut its stake in Chinese unit Zhaopin in a shake-up that would see co-founder Andrew Bassat give up his chief executive. . .  Full story

Former Australian PM Turnbull joins Fortescue's green unit

23/02 Former Australian Prime Minister Malcolm Turnbull has joined Fortescue Metals Group's new green energy development company as chairman of its Australian unit, the iron ore miner said on Tuesday.. . .  Full story

Commodity rally helps Australia shares close nearly 1% higher

23/02 Australian shares closed nearly 1% firmer on Tuesday, as strength in commodities boosted market expectations of an improved growth outlook and lifted miners and energy stocks.. . .  Full story

Australia shares trade flat as tech slide offsets commodity gains

23/02 Australian shares traded little changed on Tuesday as gains in miners and energy firms on stronger commodity prices countered losses in tech stocks following a weak lead from U.S. peers.. . .  Full story

Australia shares set to track Wall Street lower as U.S. Treasury yields firm

22/02 Australian shares were poised to inch lower on Tuesday after a weak showing on Wall Street overnight as rising U.S. Treasury yields and inflation concerns pressured stocks. The local share price. . .  Full story

AngloGold Ashanti boosts dividend five-fold on gold price boom

22/02 AngloGold Ashanti on Monday joined gold mining peers in boosting payouts to shareholders after reporting a leap in annual earnings thanks to surging gold prices.. . .  Full story

Australia shares slip on tech, healthcare losses

22/02 Australian shares closed slightly lower on Monday as losses in healthcare and tech stocks outweighed gains in miners, while Macquarie Group jumped after raising its profit guidance.. . .  Full story

Australia's NAB sees faster uptick in housing demand, cuts fixed home loan rates

22/02 National Australia Bank Ltd said on Monday it had seen a quicker-than-usual uptick in domestic housing market demand after Christmas, and lowered some fixed home loan rates.. . .  Full story

Australia shares flat as mining gains offset healthcare losses

22/02 Australian shares were little changed in choppy trade on Monday as losses in healthcare and tech stocks countered strong gains in miners driven by buoyant commodity prices.. . .  Full story

Australia's Bank of Queensland bulks up with $1.1 bln ME Bank purchase

22/02 Bank of Queensland Ltd will buy ME Bank, a digital lender owned by 26 industry pension funds, for A$1.33 billion ($1.05 billion), the pair said on Monday, as the second-tier lender chips away at. . .  Full story

Australia shares set to dip at the open; NZ rises

21/02 Australian shares were poised to open lower on Monday, as investors take their cue from a relatively mixed session in Wall Street on Friday, while weaker commodity prices were likely to pressure energy and. . .  Full story

Australia's Woodside CEO says Myanmar coup won't affect exploration plans

19/02 Australia's Woodside Petroleum sees the military coup in Myanmar as "a transitionary issue" that would not affect its drilling in waters off the Southeast Asian nation, its chief executive said.. . .  Full story

Australia shares track Asian peers lower, commodity stocks weigh

19/02 Australian shares had their worst session in three weeks on Friday, tracking losses in Asian peers, as a worse-than-expected rise in weekly U.S. jobless claims tempered hopes for a quick economic recovery.. . .  Full story

Australia's Pilbara Minerals half-year revenue soars as lithium market rebounds

19/02 Australia's Pilbara Minerals Ltd on Friday reported a more than 56% jump in half-year revenue and pointed to bullish market conditions for lithium as its loss narrowed from a year earlier.. . .  Full story

Australia retail sales up 0.6% in Jan, COVID restrictions a drag

19/02 Australian retail sales rose by less than expected in January as a coronavirus lockdown in the city of Brisbane kept shoppers at home, continuing the see saw pattern of sales in recent months.. . .  Full story

Australia shares track Wall Street lower, miners and banks weigh

19/02 Australian shares tracked Wall Street lower on Friday but were set to close the week higher on upbeat corporate earnings reports and bets of a swift global economic rebound.. . .  Full story

Facebook shares dip as Wall Street ponders Australia news fallout

18/02 Facebook Inc shares fell 2% on Thursday as Wall Street assessed the wider ramifications of its move to block all news content in Australia.. . .  Full story

Rise in trading volumes boosts earnings outlook for Asian stock exchanges

18/02 Shares of Asian stock exchanges have surged this year as trading volumes on regional bourses soared and stock prices hit record highs.. . .  Full story

Australia shares end flat as energy stocks weigh; Treasury Wine shines

18/02 Australian shares ended a volatile session flat, with lacklustre annual results from Woodside Petroleum dragging energy stocks lower, while Treasury Wine notched its best day in five years after the company unveiled plans to overhaul. . .  Full story

Fortescue declares bumper dividend, but faces setback in green push

18/02 Fortescue Metals Group boosted its dividend payout on Thursday but a cost blowout at a key development project in Western Australia tarnished its ambitions to become a green energy powerhouse.. . .  Full story

Fortescue CEO says iron ore market to remain robust for some time

18/02 The global iron ore market is likely to remain robust for some time, given supply concerns and stronger-than-usual demand from top consumer China, Fortescue Metals Group Chief Executive Elizabeth Gaines said on Thursday.. . .  Full story

Australia employment rises in Jan as economy emerges from lockdowns

18/02 Australian employment rose for a fourth straight month in January and the jobless rate fell by more than expected, an encouraging sign for the economic outlook after authorities were able to largely curb coronavirus outbreaks.. . .  Full story

Strong blue-chip earnings nudge Australia shares higher

18/02 Australian shares rose marginally on Thursday after swinging between positive and negative territory, as a reversal in iron ore mining giants and strong earnings reports by blue-chip firms pushed the benchmark index higher.. . .  Full story

Australia's ANZ flags record capital levels as profit rises on housing boom

18/02 Australia and New Zealand Banking Group on Thursday reported a higher first-quarter profit and said it was well-positioned to consider returning to investors some of the record levels of cash it holds in the aftermath. . .  Full story

-Australia's ANZ Q1 profit rises on housing boom, well-positioned for 2021

17/02 Australia and New Zealand Banking Group on Thursday reported a higher first-quarter profit and said it was well-positioned for the rest of the year, boosted by growth in home lending as the domestic economy. . .  Full story

Rio Tinto hands back cash on profit beat, record iron ore

17/02 Rio Tinto on Wednesday reported its best annual earnings since 2011 and declared a record dividend payout, the second major iron ore producer to return windfalls to investors after unprecedented prices and demand for the. . .  Full story

Australia launches inquiry into banks pulling support for export industries

17/02 An Australian parliamentary committee has launched an inquiry into the impact of changes in the investment policies of banks, superannuation funds and other financial institutions on the country's export industries, such as coal mining.. . .  Full story

Australia shares slip as gold miners weigh, BHP hits record high

17/02 Australian shares fell on Wednesday, dragged lower by gold miners on the back of weak bullion prices, while BHP outshone the broader market and hit a record high as brokerages upgraded its shares after. . .  Full story

Australia dollar 5% lower than otherwise in trade-weighted terms, says RBA's Kent

17/02 Australia's massive monetary policy stimulus contributed to the local dollar being as much as 5% lower than otherwise on a trade-weighted basis, a senior central bank official said on Wednesday.. . .  Full story

Gold miners drag down Australian shares; BHP, Westpac soar

17/02 Australian shares inched lower on Wednesday after two sessions of gains, as losses in healthcare and gold miners eclipsed huge strides made by iron ore mining giants and banks.. . .  Full story

Australia's Westpac sees profit rebound as economy recovers, shares surge

17/02 Westpac Banking Corp on Wednesday reported a rebound in first quarter profit, benefiting from a reversal in bad debt charges as the Australian economy and the housing market recover from the coronavirus pandemic.. . .  Full story

-Australia's Coles first-half profit jumps as consumers stockpile groceries

16/02 Australia's Coles Group Ltd on Wednesday reported better-than-expected half-year profit, as coronavirus lockdowns boosted demand for household essentials and drove sales at the country's No. 2 supermarket chain.. . .  Full story

Westpac Q1 profit improves as Australia's economy recovers

16/02 Westpac Banking Corp on Wednesday reported a higher first-quarter profit compared with the average of the previous two, and saw a decline in stressed assets as the Australian economy and the housing market recover from. . .  Full story

Australia needs LNG import terminal to avoid gas shortfall in 2024 - watchdog

16/02 Australia's southern states will need to import natural gas to fill a looming shortfall by 2024, as last year's COVID-19 induced oil and gas price slump has slowed investment in new fields, the country's. . .  Full story

BHP's half yearly results drive Australia shares to one-year high

16/02 Australian shares ended Tuesday's session at a one-year high, driven by strong half-yearly results and a record dividend payout from global miner BHP, while elevated commodity prices continued to boost the mining and energy sectors.. . .  Full story

Australia shares near 1-year high on BHP's record dividend, strong profit

16/02 Australian shares rose on Tuesday to their highest in nearly a year, driven by BHP Group after the miner posted strong profit and declared a record interim dividend, while a surge in commodity prices. . .  Full story

Australia's NAB points to improving economy, cuts impairment charges

16/02 National Australia Bank Ltd posted a pickup in quarterly profit from the previous two quarters on Tuesday as it wound back pandemic-driven bad loan provision charges, and pointed to encouraging signs on the economy.. . .  Full story

Australia shares set to open higher, NZ rises

15/02 Australian shares were set to open higher on Tuesday, extending gains made in the previous session, as a jump in copper and oil prices was likely to keep domestic mining and energy stocks in. . .  Full story

Australia shares end higher on commodity boost, economic rebound bets

15/02 Australian shares ended firmer on Monday as a surge in commodity prices lifted mining and energy stocks, while strong corporate earnings and hopes of a global economic rebound in the wake of coronavirus vaccine. . .  Full story

Australia shares jump on positive corporate earnings, Wall Street

15/02 Australian shares advanced on Monday, bouncing back from last week's losses, as Wall Street's record finish on Friday and positive domestic corporate earnings boosted investor sentiment.. . .  Full story

Australia shares poised for a positive start, NZ drops

14/02 Australian shares are poised for a positive start to the week on Monday as investors take a cue from Wall Street, which ended last week at record closing levels buoyed by hopes of a. . .  Full story

Australia shares close lower weighed by gold, energy stocks

12/02 Australian shares ended lower on Friday, hurt by losses in gold and energy stocks as prices of the underlying commodities declined, ahead of crucial earnings due next week.. . .  Full story

Australia shares edge lower as U.S.-China worries resurface

12/02 Australian shares slipped on Friday, weighed by energy and gold stocks, as U.S. President Joe Biden's comments on China stoked worries that relations between the two nations could sour further.. . .  Full story

Australia shares end marginally lower on tech losses, await corporate earnings

11/02 Australian shares ended marginally lower on Thursday as gains among gold stocks were pared by losses among tech and industrial stocks, and as investors looked forward to important corporate earnings results slated for next week.. . .  Full story

Australia's AGL facing stiffer headwinds, weighs overhaul

11/02 Australia's top power producer and energy retailer AGL Energy Ltd is weighing how to reshape itself as it faces ever growing challenges, with an influx of wind and solar power hammering its energy market earnings. . .  Full story

Australia's resurgent housing boom lifts banks from doldrums

11/02 Australia's housing market is pulling the A$2 trillion ($1.6 trillion) economy out of its first recession in three decades with prices hitting record highs, home loans surging and building approvals at 19-year peaks.. . .  Full story

Australian shares slip as tech stocks mirror Wall Street peers' losses

11/02 Australian shares egded down on Thursday, as a slump in technology stocks following overnight losses in their Wall Street peers outweighed gains in Newcrest Mining and Telstra on upbeat half-year reports.. . .  Full story

-Australia's Newcrest posts 98% rise in HY underlying profit

11/02 Australia's Newcrest Mining Ltd on Thursday posted an underlying half-year profit that nearly doubled as it benefitted from higher realised gold prices and a rise in production at its flagship mine in New South. . .  Full story

Australia's Newcrest posts 98% rise in HY underlying profit

10/02 Australia's Newcrest Mining Ltd on Thursday posted an underlying half-year profit that nearly doubled as it benefitted from higher realised gold prices on the back of increased safe-haven demand.. . .  Full story

Tech stocks drive Australia shares higher; NZ down

10/02 Australian shares rose on Wednesday, driven by a rally in tech stocks which hit a record high during the session, with strong domestic earnings also boosting sentiment.. . .  Full story

Australia's CBA outlines No.1 business banking ambition, dividends surge

10/02 Australia's Commonwealth Bank , the country's largest, on Wednesday said it would compete for the No. 1 business banking position and would focus on technology-driven products to boost revenue, as the nation recovers from the. . .  Full story

Two directors exit Australia's Crown board after damning report

10/02 Two Crown Resorts Ltd directors with links to major shareholder James Packer resigned on Wednesday, the first heads to roll after the Australian casino operator was deemed unfit to hold a gambling licence for its. . .  Full story

Australia shares rise as tech stocks track Wall Street peers higher

10/02 Australian shares rose on Wednesday, led by technology stocks as they mirrored sharp gains among their Wall Street peers overnight, while strong domestic earnings reports also boosted sentiment.. . .  Full story

Australian consumer sentiment swings higher in Feb -survey

10/02 A measure of Australian consumer sentiment has bounced back toward a decade high in February as the largely successful containment of coronavirus outbreaks in some cities offered reassurance on the economic outlook.. . .  Full story

Australia's CBA improves dividend, posts profit beat as lending picks up

09/02 Commonwealth Bank of Australia on Wednesday declared a higher dividend than from six months ago and beat first-half cash profit estimates, driven by growth in home and business lending.. . .  Full story

Stocks near flat after run to records; bitcoin climbs again

09/02 Global equity indexes were near unchanged on Tuesday, while bitcoin climbed to another all-time peak, extending gains in the wake of an endorsement from Tesla Inc.. . .  Full story

Singapore's Jurong Port to take over Lim family's stakes in Universal Terminal-sources

09/02 Singapore port operator Jurong Port is set to take over the shares in a major oil storage terminal in the city state from the Lim family behind collapsed oil trader Hin Leong, three sources. . .  Full story

Australia shares drop as investors await corporate earnings; NZ falls

09/02 Australian shares fell in low-volume trade on Tuesday, weighed by banking stocks, as investors held off making big bets ahead of major corporate earnings due later in the week.. . .  Full story

Australia's BNPL boom pushes identity theft to record, data shows

09/02 Identity theft complaints in Australia involving buy-now-pay-later finance doubled to a record last year, data seen by Reuters showed, raising calls for authorities to rein in the booming market.. . .  Full story

Australia shares dip as earnings trickle in; NZ down

09/02 Australian shares fell on Tuesday, as market participants treaded cautiously in anticipation of the incoming domestic earnings season, despite Macquarie Group and James Hardie both reporting strong quarterly numbers.. . .  Full story

Australian business confidence improves in Jan, activity off highs

09/02 A measure of Australian business confidence picked up in January while conditions eased back from historic highs as coronavirus breakouts curbed activity in a few cities but were ultimately contained.. . .  Full story

Macquarie says commodities trading business sees sharp 3Q profit increase, shares up nearly 8%

09/02 Australia's Macquarie Group said on Tuesday it expected to continue to benefit from market volatility in the short term, as it disclosed third-quarter profit from its commodities trading and dealmaking units rose sharply, sending its. . .  Full story

Australia's Macquarie Q3 profit from market-facing businesses rises

08/02 Australian investment conglomerate Macquarie Group on Tuesday said third-quarter profit contribution from its market-facing businesses rose significantly, helped by the partial sale of a data analytics firm through an initial public offering.. . .  Full story

COLUMN-India's coal imports rebound as Australia wins market share: Russell

08/02 India's coal imports have revived in recent months to close to pre-pandemic levels, but the market shares of the countries supplying cargoes has shifted, mainly as a result of China's dispute with Australia.. . .  Full story

Australia shares close higher on hopes for further U.S. stimulus

08/02 Australian shares advanced on Monday on rising hopes of a broader economic recovery after U.S. lawmakers approved a budget outline for President Joe Biden's $1.9 trillion COVID-19 relief package, with heavyweight miners also benefiting from. . .  Full story

-Australia's Vocus reopens books after Macquarie's $2.6 bln bid, shares rise

08/02 Australia's Vocus Group on Monday said Macquarie's funds had lodged a non-binding offer to acquire the fibre network owner for A$3.42 billion ($2.62 billion) and would open its book to the firm, sending its. . .  Full story

Australia shares climb on improving U.S. stimulus hopes, no new local virus cases

08/02 Australian shares rose on Monday, with strengthening global risk sentiment as U.S. President Joe Biden's $1.9 trillion COVID-19 package looked more certain of being pushed through, while investors also cheered an improving local coronavirus situation.. . .  Full story

Australia shares poised to open slightly up

07/02 Australian shares were set to open marginally higher on Monday, with energy stocks likely to gain, as the country logged zero new coronavirus cases for three consecutive days over the weekend.. . .  Full story