Australasia

Australia's central bank flags lower rates in jobs hunt

04h37 Australia's top central banker on Thursday said it was not "unrealistic" to expect a further reduction in interest rates given ample slack in the labour market, and called on the government for action on. . .  Full story

Australia's Caltex shares dive as bleak economic conditions hit profit

03h58 Caltex Australia on Thursday said it expects first-half profit to be less than half of what it was a year earlier, sending its shares down a fifth as the petrol station owner grapples with. . .  Full story

Australia's Bank of Queensland says CFO Matt Baxby to resign

00h48 Bank of Queensland Ltd said on Thursday Chief Financial Officer Matt Baxby will resign, which comes two weeks after the Brisbane-based lender appointed a new chief executive officer.. . .  Full story

Australia shares set to advance on dovish U.S. Fed outlook, NZ up

00h36 Australian shares are set to open marginally higher on Thursday, as the U.S. Federal Reserve's indication of potential rate cuts this year calmed worries of slowing global economic growth. The local. . .  Full story

Australian shares end at best in over 11 years as U.S.-China resuming trade talks

19/06 Australian shares ended at their best since the global financial crisis on Wednesday, as investors took heart from the United States and China rekindling trade talks, expectations for lower U.S. interest rates, and the European. . .  Full story

Australian govt boosts Senate numbers ahead of tax cut bill

19/06 Australian Prime Minister Scott Morrison will need to secure just three votes in the country's upper house to pass legislation after election results on Wednesday showed his government picked up four additional Senate seats.. . .  Full story

Trade tensions kick Asian business confidence to 10-yr low -Thomson Reuters/INSEAD

19/06 Confidence among Asian companies in the June quarter fell to its lowest since the 2008-09 financial crisis, as a U.S.-China trade war disrupts global supply chains and shows little sign of easing soon, a. . .  Full story

Sino-U.S. trade hopes lift Australia shares to 11-yr peak; NZ up

19/06 Australian shares climbed to an 11-year high on Wednesday, as investor sentiment was underpinned by hopes U.S. and Chinese leaders would revive stalled trade talks and on prospects of rate cuts by the Federal. . .  Full story

Australia shares set to open higher, NZ up

19/06 Australian shares are set to open higher on Wednesday, as risk appetite improved after U.S. President Donald Trump said he would meet China's president for trade talks, and investors expected the Reserve Bank to. . .  Full story

RBNZ says in talks with ANZ over departure of New Zealand CEO

18/06 New Zealand's central bank said on Tuesday that it is in talks with Australia and New Zealand Banking Group Ltd (ANZ) about the sudden departure of the chief executive of its local unit announced earlier. . .  Full story

Australian shares end at over 11-year peak on RBA cues; NZ inches up

18/06 Australian shares closed at their highest in more than 11 years on Tuesday as an indication of future policy easing by the country's central bank triggered strong buying.. . .  Full story

Australian shares rise after RBA points to more cuts; NZ steady

18/06 Australian shares rose on Tuesday after the country's central bank said further policy easing was likely, although buyers largely targeted defensive sectors ahead of a two-day U.S. Federal Reserve meeting.. . .  Full story

Betting the house: investors demand higher premiums for risky Australian mortgage bonds

18/06 Investors in Australian mortgage bonds are demanding higher premiums to buy the riskiest tranches of new debt, as a slowing economy stokes concerns a property downturn could get worse and increase home loan defaults.. . .  Full story

Australia home loan arrears not yet a threat - RBA

18/06 Arrears on Australian housing loans are likely to keep rising for a while longer, a top central banker said on Tuesday, but should not pose a risk to financial stability or the economy as. . .  Full story

Australia shares set to open marginally higher as investors cautious; NZ up

18/06 Australian shares are likely to open marginally higher on Tuesday as investors stay on the sidelines ahead of the keenly awaited U.S. Federal Reserve meeting later in the week.. . .  Full story

Australia lowers wheat export forecast by 18% as drought hits supply

17/06 Australia on Tuesday lowered its forecast for wheat exports over the 2019/20 season by nearly 18% as a drought wilts crops in the world's No.4 exporter of the grain.. . .  Full story

Myths and reality: Adani's Australian coal mine torches rationality: Russell

17/06 Adani Enterprises' Carmichael coal mine in Australia is assuming mythical status way out of proportion to its actual significance, even before meaningful construction starts on the controversial project.. . .  Full story

ANZ gets tough on compliance as New Zealand CEO leaves over chauffeurs, wine dispute

17/06 Australia and New Zealand Banking Group Ltd (ANZ) said the head of its New Zealand unit has left over a dispute about personal expenses, a sign of heightened self-regulation at a banking giant following a. . .  Full story

Australian shares drop as miners retreat; NZ inches lower

17/06 Australian shares ticked lower on Monday as blue-chip mining stocks took a breather after rallying more than 6% last week, while energy firms were pressured by uncertainty over the demand outlook for oil.. . .  Full story

Australian home price dive levels out as auctions lift

17/06 Australian home prices look to be finally finding a floor as a revival in auction demand put Sydney on track for its first monthly gain in two years.. . .  Full story

Australia shares poised to open higher on miners, energy; NZ slips

17/06 Australian shares are set to open slightly higher on Monday, buoyed by mining stocks, which have gained from rising commodity prices, while the energy sector is likely to climb on higher oil prices.. . .  Full story

Australian treasurer hints at fiscal easing -newspaper

14/06 Australia's government could loosen or reform fiscal policy to bolster a weakening economy, Treasurer Josh Frydenberg hinted in a newspaper interview published on Friday.. . .  Full story

Australian shares edge up on boost from miners, energy firms; NZ steady

14/06 Australian shares ticked up on Friday as rising commodity prices boosted miners, while attacks on oil tankers in the Gulf of Oman saw energy stocks gain on supply concerns.. . .  Full story

Australia shares buoyed by miners, energy stocks; NZ flat

14/06 Australian shares steadied on Friday as miners rose on stronger commodity prices while energy firms gained on the risk of supply disruptions following attacks on oil tankers in the Gulf of Oman.. . .  Full story

Australian regulator slaps stricter conditions on AMP's pension funds, shares fall

14/06 Australia's banking watchdog on Friday said it had imposed stricter licensing conditions on AMP Ltd's pension fund units following concerns regarding its compliance with superannuation laws, sending its shares down more than 4%.. . .  Full story

Australia shares set to open higher on energy, miners; NZ up

14/06 Australian shares are likely to opening higher on Friday, with energy shares set to rebound on higher oil prices following attacks on two tankers in the Gulf of Oman, while miners are seen gaining. . .  Full story

Australia banking watchdog slaps compliance orders on AMP pension fund units

13/06 Australia's banking watchdog on Friday said it had issued directions and license conditions on AMP Ltd's pension fund units to force it to comply with regulations governing the superannuation industry.. . .  Full story

India's Adani wins green light for long awaited Australian coal mine

13/06 India's Adani Enterprises on Thursday received the go-ahead to start construction of a controversial coal mine in outback Australia, after a state government approved a final permit on ground water management.. . .  Full story

Australian wheat output under threat as dry weather set to linger

13/06 Dry weather will persist across Australia until at least the end of September, the country's weather bureau said on Thursday, in a forecast that threatens to further lower wheat production in the world's No.. . .  Full story

COLUMN-Coal price slump in Asia even as demand grows shows supply is the issue: Russell

12/06 Whenever coal prices decline it's tempting for those opposed to the polluting fuel to think that demand is falling amid a move to cleaner renewable energies, but in the current cycle it appears oversupply is. . .  Full story

Australian shares end flat as global gloom offsets mining gains; NZ up

12/06 Australian shares closed flat on Wednesday as the combination of soft local and Chinese data as well as the festering Sino-U.S. tariff war offset sharp gains for miners.. . .  Full story

Australian shares rise buoyed by mining stocks; NZ up

12/06 Australian shares gained on Wednesday buoyed by mining stocks, as China's stimulus plans and supply crunch concerns in some commodities drove gains in iron ore, coal and base metal prices.. . .  Full story

Australian consumers fret on economy, more upbeat on housing-survey

12/06 A measure of Australian consumer confidence dipped in June as a run of disappointing data on the economy overshadowed a cut in interest rates and a hint of stability in falling house prices.. . .  Full story

Australia shares set to open higher, NZ down

12/06 Australian shares are expected to rise on Wednesday, with mining stocks likely to gain on the back of rising iron ore and base metal prices. China's iron ore futures surged. . .  Full story

Australia, NZ shares gain as U.S.-Mexico deal eases trade worries

11/06 Australian shares climbed on Tuesday, supported by mining and financial stocks following a boost in sentiment after a U.S.-Mexico tariff agreement helped ease broader concerns about global trade tensions.. . .  Full story

Australia business confidence bounces even as activity sags-survey

11/06 A closely-watched measure of Australian business conditions slipped in May as sales and profits struggled, though confidence got a lift from the re-election of the country's centre-right government and the prospect of interest rate cuts.. . .  Full story

Australian shares set to open higher on miners; NZ up

11/06 Australian shares are poised to rise in catch-up trade on Tuesday, tracking global peers which gained after the United States dropped plans to impose tariffs on Mexican goods, while robust metal prices are expected. . .  Full story

NZ shares edge lower, bleak China import data weigh

10/06 New Zealand shares inched down in subdued activity on Monday as disappointing monthly import figures from China offset optimism over a U.S. decision to call off the threat of tariffs on Mexico.. . .  Full story

NZ shares inch up in thin trade; U.S.-Mexico deal lends support

10/06 New Zealand shares made slight gains on Monday after the United States called off the imposition of tariffs on Mexico, following a deal to combat illegal migration from Central America, but a holiday in. . .  Full story

Australia seizes properties from Chinese national with Beijing's help

08/06 The Australian government has confiscated three properties from a Chinese national after a joint money-laundering investigation with China, police said on Saturday.. . .  Full story

Analysts trim Asian firms' 2019 profit outlook on trade woes

07/06 Analysts are downgrading their full-year profit forecasts for Asian companies, Refinitiv data showed, as fears mounted over the impact of a festering Sino-U.S. trade war on regional firms.. . .  Full story

Australia's central bank adjusts liquidity backstop for banks

07/06 Australia's central bank on Friday said it would allow banks to hold a greater proportion of the country's government bonds to meet their prudential requirements, and would increase the cost of using a complementary liquidity. . .  Full story

Australia April goods/services exports +2% M/M

07/06 Corrects Australia export data issued on Thursday to show that April exports of goods and services rose 2%, not 3%. The error occurred due to incorrect rounding of the underlying figure.. . .  Full story

Australian shares extend gains as global easy money hopes boost sentiment

07/06 Australian shares advanced for the fourth session on Friday as this week's domestic rate cut and expectations global central banks will open the money spigot underpinned sentiment, boosting cyclicals and firms offering strong dividend yields.. . .  Full story

Australia shares poised to open higher, NZ up

07/06 Australian shares are expected to open higher on Friday, tracking Wall Street which gained as Mexican and U.S. officials resumed talks on trade and migration. However, spokeswoman Sarah Sanders said. . .  Full story

Australian shares rise for third day as rate cut spurs banks

06/06 Australian shares rose for a third straight day on Thursday, with banks gaining sharply on expectations that this week's central bank rate cut and other easing measures could stimulate the cooling economy and boost lending.. . .  Full story

Banks lead Australian shares higher on policy stimulus, NZ rises

06/06 Australian shares rose on Thursday, led by the banks and outperforming more subdued regional markets as a recent central bank rate cut and other easing measures looked set to support business in the sector.. . .  Full story

Australia's Pacific Equity Partners set to raise $1.7 bln in new buyout fund - AFR

06/06 Pacific Equity Partners (PEP), one of Australia's largest buyout firms, is close to raising A$2.5 billion ($1.7 billion) in its new fund, The Australian Financial Review reported on Thursday.. . .  Full story

Australia's Bank of Queensland appoints outgoing Westpac executive as CEO

06/06 Australia's Bank of Queensland on Thursday named George Frazis, outgoing head of consumer banking at Westpac Banking Corp, as its chief executive and managing director.. . .  Full story

Australian shares follow global peers higher after dovish Fed comments

05/06 Australian shares finished higher on Wednesday, in line with the rally in global stocks after comments from the U.S. central bank provided firm clues it was closer to cutting interest rates, supporting investor confidence.. . .  Full story

Perth Mint's monthly gold sales nearly halve in May to over 2-year low

05/06 The Perth Mint's gold product sales in May fell 46% from the previous month to their lowest level since April 2017, the refiner said on Wednesday. Sales of gold. . .  Full story

Any fiscal spending boost won't endanger Australia's AAA rating - Fitch

05/06 Australia's coveted triple-A sovereign rating would not be threatened by increased government spending, Fitch Ratings said on Wednesday as calls for fiscal stimulus get louder to help stave off a possible recession in the resource-rich. . .  Full story

Australia's GDP growth hits decade low, stimulus needed to avoid recession

05/06 Australia's economic growth slowed to a decade low last quarter, underlining the need for aggressive monetary and fiscal stimulus to stop the resource-rich nation from sliding into recession after 28 straight years of expansion.. . .  Full story

Australia mining investment recovery, exports to add to GDP growth- RBA

05/06 A gradual pick-up in mining investment in Australia combined with solid export demand for the country's commodities will likely contribute to broader economic growth over the next year, a senior central bank economist said. . .  Full story

Australian shares finish flat as blue-chip gains beat back trade war blues

31/05 Australian shares ended stable on Friday, as investors switched to blue-chips and safe-haven gold stocks with broader equity markets rattled by fears that U.S. President Donald Trump's aggressive trade diplomacy could lead to recession.. . .  Full story

Adani wins one of last two permits it needs for Australia coal mine

31/05 The Australian state of Queensland on Friday approved Adani Enterprise's management plan for an endangered bird at the site for a controversial coal mine, leaving only one more permit before construction can start on the. . .  Full story

Australian shares little changed as blue chips weather trade worries

31/05 Australian shares made up early losses to be little changed on Friday, finding support despite heightened fears for global trade after U.S. President Donald Trump surprised markets by imposing tariffs on Mexico.. . .  Full story

Australia's NAB cuts fixed-loan rates ahead of expected c.bank move

30/05 National Australia Bank, the country's fourth-largest lender, on Thursday raced to offer discounts on some of its fixed-rate mortgages in anticipation of a rate cut by the central bank next week.. . .  Full story

From sky farms to lab-grown shrimp, Singapore eyes food future

30/05 Singapore, the tiny Southeast Asian city-state, is an unlikely place for a farming revolution.. . .  Full story

Australian shares end in red as trade war bites risk appetite

30/05 Australian shares closed lower on Thursday, led by commodity firms and weighed by fresh exchanges in the protracted Sino-U.S. trade war that has hit global investor appetite.. . .  Full story

Australia's minimum wage rises slowly as growth, inflation cool

30/05 Australia's industrial relations umpire on Thursday raised the national minimum wage by 3% from July 1, a smaller pay rise than the 3.5% increase enjoyed by workers last year, reflecting a weakening economy and. . .  Full story

Australia's AMP hit with class-action lawsuit from pension account holders

30/05 Australian wealth manager AMP Ltd said on Thursday it would defend itself against a new class-action lawsuit filed on behalf of pension fund account holders and claiming overcharging of fees.. . .  Full story

Australian, NZ shares buckle under trade war strain

30/05 Australian shares tracked a global selloff on Thursday, with mining stocks leading the losses, eroding part of last week's rally as the drawn-out Sino-U.S. trade war weighed on investor sentiment.. . .  Full story

Australian farmers face more hot, dry weather - forecast

30/05 Hot, dry weather will persist across Australia's east coast for at least another three months, the country's weather bureau said on Thursday, in a forecast that threatens to severely crimp agricultural production.. . .  Full story

Dry weather crimps Fonterra's NZ, Australia milk output

30/05 Dairy group Fonterra on Thursday said its New Zealand milk production fell 10% in April from the year before as dry weather hit farms.. . .  Full story

Australia shares set to open lower; NZ down

30/05 Australian shares are expected to fall on Thursday following overnight losses in world stock markets as risk appetite was battered by worries about global economic growth due to escalating U.S.-China trade tensions.. . .  Full story

Australian shares end down but rare earths shine, NZ falls

29/05 Australian shares fell on Wednesday with commodity stocks weakening the most as global growth concerns hurt risk appetite, although rare earths miners gained on the possibility that Beijing could halt exports of these metals. . .  Full story

Frenzy for Aussie bonds as investors bet on radical policy easing

29/05 Investors lapped up Australia's latest long-term bond sale on Wednesday, even though its record-low coupon of 1.5% offered no more than the overnight cash rate, a sign some are wagering on drastic policy stimulus including. . .  Full story

NZ central bank says current mortgage curbs appropriate, risks remain elevated

29/05 New Zealand's central bank said on Wednesday that the country's financial system is resilient but that risks remained elevated, adding that current mortgage restrictions are appropriate for now.. . .  Full story

Australian shares follow global market down as trade worries bite; NZ falls

29/05 Australian shares eased on Wednesday, in line with global peers again focused on threats to economic growth from a prolonged trade row between Washington and Beijing.. . .  Full story

Australia's Telstra writes down legacy IT assets, speeds job cuts

29/05 Australia's largest telco Telstra Corp said it would book a A$500 million ($346 million) writedown on ageing data-storage assets and forecast higher restructuring costs this year as it expedites a plan to slash jobs.. . .  Full story

Australian shares likely to slip at open; New Zealand down

29/05 Australian shares are set to open lower on Wednesday, tracking overnight declines in global peers stoked by fears of an extended trade war between world's two largest economies. U.S. President. . .  Full story

NZ central bank says risks remain elevated, LVR appropriate for now

28/05 The Reserve Bank of New Zealand (RBNZ) said on Wednesday that the country's financial system is resilient but risks remain elevated, adding that the current loan-to-value ratio (LVR) is appropriate.. . .  Full story

Australian shares up on mining gains, Rio Tinto highest since financial crisis

28/05 Australian equities beat a three-session losing run on Tuesday as mining stocks rallied on firmer iron ore prices, sending shares of global miner Rio Tinto to their highest close since 2008.. . .  Full story

Australian shares up as iron ore rally backs miners, NZ lower

28/05 Australian shares gained on Tuesday and were on track to snap a three-session losing streak with mining major Rio Tinto leading the charge to touch its best level in over a decade, bolstered by. . .  Full story

Australia shares set to open little changed; NZ up

28/05 Australian shares on Tuesday are expected to open flat as investors are likely to remain on the sidelines awaiting further cues on a trade spat between the United States and China.. . .  Full story

Australian shares end flat, weak bank stocks offset miners' gains

27/05 Australian shares ended flat on Monday as weakness in banks was offset by gains in mining stocks, with global miner Rio Tinto ending at its best level in over a decade.. . .  Full story

Asian renewable investment to overtake upstream oil and gas spending in 2020 -Rystad

27/05 Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday.. . .  Full story

Australia shares little changed, banks extend losses on tighter regulations

27/05 Australian shares were flat on Monday, as extended losses in financials offset gains enjoyed by miners on the back of robust base metal prices.. . .  Full story

Australia home prices' long decline pauses on rate cut prospects

27/05 Australian home prices saw a tantalising hint of stability last week as the hard-hit market drew support from the prospect of lower mortgage rates and a continuation of tax breaks for property investing.. . .  Full story

Australia's Suncorp says CEO Michael Cameron to step down

27/05 Australian insurer Suncorp Group on Monday said its Chief Executive and Managing Director Michael Cameron will leave the company after spending nearly four years in the role.. . .  Full story

Australia shares likely to open flat; New Zealand steady

27/05 Australian shares are expected to open steady on Monday as investors await developments in the Sino-U.S. trade war, while trade is likely to be thin with bourses in the United States and United Kingdom. . .  Full story

Australia property sees ray of hope on looser mortgage rules, rate cut bets

26/05 Australia‚Äôs crumbling housing market looks set to stabilise over coming months as hopes of interest rate cuts and loosening of mortgage rules have boosted buyer inquiries, property and mortgage brokers say.. . .  Full story

Australia, NZ shares slip on worries of long U.S.-China trade war

24/05 Australian shares slipped on Friday, dragged down by financials and energy stocks as more investors price in the possibility of a protracted Sino-U.S. trade war.. . .  Full story

Australian state says Adani coal approvals due by mid June

24/05 Australia's Queensland state said on Friday that the process to obtain final approvals for Adani Enterprise's controversial Carmichael coal mine must be wrapped up by mid-June.. . .  Full story

Australia shares to open lower, New Zealand falls

24/05 Australian shares are likely to fall on Friday tracking weakness in Wall Street fueled by worries of global growth, while overnight dip in oil prices is expected to weigh on energy stocks.. . .  Full story

COLUMN-Adani's coal hopes look increasingly isolated as BHP joins naysayers: Russell

23/05 How's this for a study in contrasts: One of the world's biggest coal miners effectively says the industry is dying just days after Australia's opposition party suffered a shock election loss, partly blamed on its. . .  Full story

Australia shares snap 6 days of gains on trade war fears; NZ at new peak

23/05 Australian shares ended lower on Thursday, ending six straight sessions of gains, as global stocks slipped on concerns U.S-China trade frictions were spilling into the technology sector.. . .  Full story

Australia shares slip on rising Sino-U.S. trade tensions, NZ up

23/05 Australian shares slipped on Thursday, with the mining and financial sectors leading declines, tracking global market moves as trade tensions spiked on reports the United States was considering curbs on a group of Chinese technology. . .  Full story

Australia shares set to open lower, New Zealand up

23/05 Australian shares are expected to edge lower on Thursday, in line with Wall Street as reports that the United States could impose restrictions on another China-based tech firm renewed apprehensions around the lingering U.S.-China trade. . .  Full story

Australia, NZ shares edge up, but trade tensions hold back gains

22/05 Australian shares eked out slight gains on Wednesday, as the country's post-election optimism was dampened by worries over the risk of a protracted U.S.-China trade war.. . .  Full story

Australian PM meets with c.bank chief as stimulus calls grow

22/05 Australian Prime Minister Scott Morrison meet with the country's central bank chief on Wednesday to discuss the nation's slowing economy as pressure grows for urgent fiscal stimulus.. . .  Full story

Australia shares off on fears of protracted trade war; NZ edges up

22/05 Australian shares slipped on Wednesday as investors worried that the lack of progress in talks between the United States and China could signal a protracted trade war and harm the Australian economy.. . .  Full story

Australia's Fortescue green lights $287 mln mine development

22/05 Fortescue Metals Group Ltd on Wednesday said it will spend about $287 million to develop the Queens Valley mining area in the iron ore rich Pilbara region of Western Australia.. . .  Full story

Australia shares set to open higher in line with global peers, NZ up

22/05 Australian shares on Wednesday are expected to track gains in global stocks as investor sentiment improved after the United States temporarily eased trade restrictions on Chinese telecom company Huawei Technologies Co Ltd. . .  Full story

Australia c.bank looks set to cut rates in June as growth sputters

21/05 Australia's central bank will consider cutting interest rates next month, Governor Philip Lowe said on Tuesday as the resource-rich economy looked set to join some of its global counterparts in easing financial conditions to. . .  Full story

Australia to loosen mortgage rules in reprieve for banks, housing

21/05 Australia's prudential regulator said on Tuesday it plans to relax some of the norms banks use to determine how much they can lend to customers, sending stocks in the sector higher on expectations the. . .  Full story

Australia shares rise on eased home loans, c.bank comments; NZ down

21/05 Australian shares advanced on Tuesday, boosted by financials after mortgage rules were eased in a bid to spur borrowing and the chance of a June interest rate cut increased.. . .  Full story

Australia PM struggles to meet tax relief election pledge, cenbank urges stimulus

21/05 Australia's re-elected coalition said on Tuesday it would struggle to deliver tax breaks for tens of millions of voters by July 1, a cornerstone of it's election campaign, as the central bank called for. . .  Full story

Australia's c.bank tilts to clear easing bias as unemployment rises

21/05 Australia's central bank is set to cut interest rates if the labour market fails to show signs of improvement, an outcome brought closer by recent disappointing data on unemployment.. . .  Full story

Australia, NZ shares slip on growing worries over trade war escalation

21/05 Australian shares slipped on Tuesday after a U.S. crackdown on Chinese telecom giant Huawei sent global equities tumbling, as investors worried that it could lead to an escalation in the Sino-U.S. trade war.. . .  Full story

Australia shares poised to fall, New Zealand steady

21/05 Australian shares are expected to fall on Tuesday, tracking global peers which slid on worries of a widening trade standoff between the world's two largest economies amid the White House's restrictions on Chinese telecom equipment. . .  Full story