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Australia

Chinese foreign minister to visit Australia – South China Morning Post

May 11, 2023
Chinese foreign minister to visit australia - south china morning post - photo licensed by shore news network.

SYDNEY (Reuters) -China’s foreign minister is expected to visit Australia in July as diplomatic relations between the two trading partners stabilise, the South China Morning …

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Australia, NZ privacy regulators launch joint probe into Latitude Group

May 9, 2023

SYDNEY (Reuters) -The privacy regulators for Australia and New Zealand said on Wednesday they had begun a joint investigation into the personal information handling practices …

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Australia Q1 retail sales volumes fall for a second straight quarter

May 8, 2023
Australia q1 retail sales volumes fall for a second straight quarter - photo licensed by shore news network.

SYDNEY (Reuters) – Australian retail sales volumes during the first quarter of 2023 fell for a second straight quarter, a sign that rising interest rates …

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Australia to deliver first budget surplus in 15 years

May 8, 2023
Australia to deliver first budget surplus in 15 years - photo licensed by shore news network.

SYDNEY (Reuters) – Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from …

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Australia business activity robust in April, cost pressures still a challenge

May 7, 2023
Australia business activity robust in april, cost pressures still a challenge - photo licensed by shore news network.

SYDNEY (Reuters) – Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, …

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Australia to predict lower unemployment, higher wages in looming budget

May 5, 2023
Australia to predict lower unemployment, higher wages in looming budget - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s government is set to cut its forecasts for inflation while also predicting lower unemployment for longer in 2023/24 budget next week, …

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Australia budget to trim forecast for cost of servicing debt for next three years

May 4, 2023
Australia budget to trim forecast for cost of servicing debt for next three years - photo licensed by shore news network.

By Lewis Jackson SYDNEY (Reuters) – Australia has lowered its forecast for the cost of servicing government debt over the next three years, though the …

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Australia central bank surprised by rapid recovery in population growth -official

May 3, 2023
Australia central bank surprised by rapid recovery in population growth -official - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s central bank said on Wednesday that a rapid recovery in population growth was a big surprise for the bank’s economic forecasts, …

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Australia March retail sales post slowest annual growth in 14 months

May 2, 2023
Australia march retail sales post slowest annual growth in 14 months - photo licensed by shore news network.

SYDNEY (Reuters) – Australian retail sales grew at their slowest annual pace in 14 months in March in a warning sign for consumption that will …

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Coffee at home: Australia Woolworths’ sales jump as shoppers cut costs

May 1, 2023
Coffee at home: australia woolworths' sales jump as shoppers cut costs - photo licensed by shore news network.

By Byron Kaye and Archishma Iyer (Reuters) – Top Australian grocer Woolworths Group Ltd posted a bigger than expected rise in third-quarter sales as shoppers …

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Australia to reveal huge budget rebound, pledge restraint in response

April 30, 2023
Australia to reveal huge budget rebound, pledge restraint in response - photo licensed by shore news network.

By Wayne Cole SYDNEY (Reuters) – Australia’s Labor government is set to reveal a vast improvement in the budget bottom line next week as its …

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Australia nears wide-ranging shake up of its central bank

April 17, 2023
Australia nears wide-ranging shake up of its central bank - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s Treasurer on Monday said he was close to announcing details of a wide-ranging review into the country’s central bank which would …

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Australia signs land deal for proposed battery material plant

April 13, 2023
Australia signs land deal for proposed battery material plant - photo licensed by shore news network.

SYDNEY (Reuters) – The state of Western Australia will allocate land to a battery metal processing facility proposed by IGO Ltd and Wyloo Metals, which …

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National Australia Bank lowers peak rate call for Australia to 3.85%, from 4.1%

March 29, 2023
National australia bank lowers peak rate call for australia to 3. 85%, from 4. 1% - photo licensed by shore news network.

By Stella Qiu SYDNEY (Reuters) – National Australia Bank said on Thursday it expects Australian interest rates to peak at 3.85%, down from a previous …

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Australia treasurer: Some central bank review proposals may need legislative changes

March 29, 2023
Australia treasurer: some central bank review proposals may need legislative changes - photo licensed by shore news network.

SYDNEY (Reuters) – Australian Treasurer Jim Chalmers said on Thursday some recommendations from an independent review of the Australian central bank’s monetary policy decision-making and …

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Australia retail sales growth slows to 0.2% in February

March 27, 2023
Australia retail sales growth slows to 0. 2% in february - photo licensed by shore news network.

SYDNEY (Reuters) – Australian retail sales eked out a meagre gain in February after wild swings around year-end holidays, indicating shoppers are reining in spending …

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World near peak of interest rate cycle -HSBC Australia CEO

March 27, 2023
World near peak of interest rate cycle -hsbc australia ceo - photo licensed by shore news network.

SYDNEY (Reuters) – Central banks in the U.S. and Australia are close to pausing rate increases as they strike a balance between financial stability and …

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Australia would not allow AT1 debt security holder wipe-out -minister

March 27, 2023

SYDNEY (Reuters) – Australian law would not allow regulators to wipe out AT1 tier credit holders while shareholders received some compensation as occurred during the …

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Australia market major backs plan to break ASX monopoly on post-trade functions

March 24, 2023
Australia market major backs plan to break asx monopoly on post-trade functions - photo licensed by shore news network.

By Byron Kaye SYDNEY (Reuters) – A top Australian share trading technology firm backed a government proposal to break stock market operator ASX Ltd’s effective …

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Australia could reap $11.3 billion from battery sector by 2030 – Accenture

March 21, 2023
Australia could reap $11. 3 billion from battery sector by 2030 - accenture - photo licensed by shore news network.

MELBOURNE (Reuters) – Australia’s revenue potential from developing a battery industry has doubled to A$16.9 billion ($11.28 billion) by 2030 in less than two years, …

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Australia regulator seeks risk reports from banks on startups, crypto -report

March 21, 2023
Australia regulator seeks risk reports from banks on startups, crypto -report - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s prudential regulator has started asking the country’s banks to declare their exposure to startups and crypto-focused ventures following the collapse of …

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Australia report calls for tax, migration reforms as productivity stalls

March 17, 2023
Australia report calls for tax, migration reforms as productivity stalls - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s Productivity Commission called on the federal government on Friday to improve tax and migration systems, remove import tariffs and secure net-zero …

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Australia ‘closely monitoring’ global financial turmoil -treasurer

March 16, 2023
Australia 'closely monitoring' global financial turmoil -treasurer - photo licensed by shore news network.

SYDNEY (Reuters) – Australia is closely monitoring the current global financial turmoil, including the situation at Swiss lender Credit Suisse and some banks in the …

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Domestic data, not SVB collapse, in focus for rate hikes in Australia – top bank analysts

March 14, 2023
Domestic data, not svb collapse, in focus for rate hikes in australia - top bank analysts - photo licensed by shore news network.

By Sameer Manekar and Mehr Bedi (Reuters) – Australia’s economic health will be its central bank’s compass for plotting the course of rate hikes, as …

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Australia business activity strong in Feb, even as confidence wanes

March 13, 2023
Australia business activity strong in feb, even as confidence wanes - photo licensed by shore news network.

SYDNEY (Reuters) – Australian business conditions remained resilient in February with sales and employment strong, even as confidence took a turn for the worse amid …

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Australia consumer mood stuck in the doldrums in March

March 13, 2023
Australia consumer mood stuck in the doldrums in march - photo licensed by shore news network.

SYDNEY (Reuters) – Australian consumer sentiment stayed stuck at historically depressed levels in March amid concerns over inflation and interest rates, a survey showed on …

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Australia to buy three nuclear-powered submarines with option to buy two more -White House

March 13, 2023
Australia to buy three nuclear-powered submarines with option to buy two more -white house - photo licensed by shore news network.

WASHINGTON (Reuters) – Australia will buy three Virginia class nuclear-powered submarines with the option to buy two more, White House national security adviser Jake Sullivan …

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India, Australia aim to boost critical mineral trade in broader deal – ministers

March 11, 2023
India, australia aim to boost critical mineral trade in broader deal - ministers - photo licensed by shore news network.

NEW DELHI (Reuters) – India and Australia aim to expand trade in critical mineral to help them achieve their goals on reducing carbon emissions, as …

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Analysis-Nuclear submarine plan aims to give Australia strategic edge to deter China

March 9, 2023
Analysis-nuclear submarine plan aims to give australia strategic edge to deter china - photo licensed by shore news network.

By Kirsty Needham SYDNEY (Reuters) – Australian nuclear submarines are key to defending the country’s 36,000 kilometres of coastline and maintaining an edge against China, …

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Australia state says first AUKUS nuclear submarines could be built overseas

March 9, 2023
Australia state says first aukus nuclear submarines could be built overseas - photo licensed by shore news network.

SYDNEY (Reuters) – The South Australia state government said Friday that the first nuclear submarines under the AUKUS pact between the United States, Britain and …

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India, Australia aim to boost economic, defence ties at first summit of PMs

March 8, 2023
India, australia aim to boost economic, defence ties at first summit of pms - photo licensed by shore news network.

By Krishn Kaushik and Kirsty Needham NEW DELHI/SYDNEY (Reuters) – Australia’s Prime Minister Anthony Albanese arrives in India on Wednesday seeking to strengthen the new …

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UK on verge of ratifying free-trade deal with Australia

March 7, 2023
Uk on verge of ratifying free-trade deal with australia - photo licensed by shore news network.

SYDNEY (Reuters) – The United Kingdom is set to ratify a controversial free-trade agreement with Australia as soon as this month, the country’s High Commissioner …

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Australia has assured US its technology is safe in submarine deal -envoy

March 2, 2023

By David Brunnstrom and Kirsty Needham WASHINGTON (Reuters) – Australia has assured Washington that U.S. technology will be safe under a plan to supply it …

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Modest Australia house price correction unfazed by rising rate expectations: Reuters Poll

March 1, 2023
Modest australia house price correction unfazed by rising rate expectations: reuters poll - photo licensed by shore news network.

By Vivek Mishra and Devayani Sathyan BENGALURU (Reuters) – Expectations for a 16% fall in Australian home prices from their peak have held steady despite …

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Australia to limit tax breaks on multi-million dollar retirement savings

February 27, 2023
Australia to limit tax breaks on multi-million dollar retirement savings - photo licensed by shore news network.

SYDNEY (Reuters) – The Australian government said on Tuesday it would limit tax breaks for members with pension balances of more than A$3 million ($2 …

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Australia plans to limit early access to retirement funds, cut tax breaks

February 22, 2023
Australia plans to limit early access to retirement funds, cut tax breaks - photo licensed by shore news network.

By Renju Jose SYDNEY (Reuters) – Australia’s centre-left government said on Thursday it would push ahead with plans to change superannuation rules, including restricting early …

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Australia advertises job on central bank’s policy-setting board

February 22, 2023
Australia advertises job on central bank's policy-setting board - photo licensed by shore news network.

SYDNEY (Reuters) – Australia’s government is advertising a job on the policy-setting board of the Reserve Bank of Australia, the first time the powerful position …

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PayPal tells Australia it supports buy-now-pay-later regulation

February 16, 2023
Paypal tells australia it supports buy-now-pay-later regulation - photo licensed by shore news network.

By Byron Kaye SYDNEY (Reuters) – Payments giant PayPal Holdings Inc wants buy-now-pay-later (BNPL) loans subjected to consumer protection law, it said in a submission …

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Australia business activity rebounds in Jan on strong sales – NAB

February 13, 2023
Australia business activity rebounds in jan on strong sales - nab - photo licensed by shore news network.

SYDNEY (Reuters) – Australian business conditions rebounded sharply in January after three months of slowdown while cost pressures picked up again, a surprising sign of …

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South Korea, Australia central banks renew currency swap agreement

February 6, 2023
South korea, australia central banks renew currency swap agreement - photo licensed by shore news network.

SEOUL (Reuters) – South Korea’s central bank said it renewed on Monday a currency swap agreement with its Australian counterpart, valued at 9.6 trillion won …

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Australia retail sales volumes dip in Q4, price growth slows

February 5, 2023
Australia retail sales volumes dip in q4, price growth slows - photo licensed by shore news network.

SYDNEY (Reuters) – Australian retail sales volumes fell for the first time in a year last quarter as shoppers trimmed spending on goods, a sign …

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Australia Dec retail spending nosedives in warning for economy

January 30, 2023
Australia dec retail spending nosedives in warning for economy - photo licensed by shore news network.

By Stella Qiu SYDNEY (Reuters) – Australian retail sales recorded the biggest drop in more than two years in December, as rising borrowing costs and …

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Search underway for radioactive capsule missing in Australia

January 28, 2023

SYDNEY (Reuters) – Parts of Western Australia were under a radiation alert on Saturday after authorities said a radioactive capsule used in mining was lost …

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Australia seeks views on Sika’s proposed MBCC asset sales

January 19, 2023
Australia seeks views on sika's proposed mbcc asset sales - photo licensed by shore news network.

(Reuters) – Australia’s competition regulator said on Friday it was seeking market views on the proposed sale of MBCC Group’s assets in the country by …

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Australia to spend $2 billion on 40 U.S. Black Hawk choppers

January 17, 2023
Australia to spend $2 billion on 40 u. S. Black hawk choppers - photo licensed by shore news network.

By Lewis Jackson SYDNEY (Reuters) – Australia confirmed on Wednesday it would buy 40 Black Hawk military helicopters from the United States for an estimated …

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Australia consumer mood brightens for second month in a row

January 16, 2023
Australia consumer mood brightens for second month in a row - photo licensed by shore news network.

SYDNEY (Reuters) – A measure of Australian consumer sentiment rose in January for the second straight month, as a break in a painful cycle of …

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Australia and Papua New Guinea aim to ink defence treaty by June

January 12, 2023

By Lewis Jackson SYDNEY (Reuters) – Australia and Papua New Guinea agreed to conclude negotiations over a comprehensive security agreement by April with hopes of …

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U.S.’s Yellen chairs meeting with UK, Australia, Canada, New Zealand ministers

January 10, 2023
U. S. 's yellen chairs meeting with uk, australia, canada, new zealand ministers - photo licensed by shore news network.

LONDON (Reuters) – U.S. Treasury Secretary Janet Yellen chaired a meeting of finance ministers from Australia, Canada, New Zealand, and the United Kingdom, Britain’s finance …

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Ex U.S. Marines pilot arrested in Australia was ‘singled out’ – lawyer

January 9, 2023

By Kirsty Needham SYDNEY (Reuters) – The lawyer for former U.S. Marine Corps pilot Daniel Duggan said he was “singled out” for extradition to the …

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‘Once in a century’ flood cuts off communities in northwestern Australia

January 8, 2023
'once in a century' flood cuts off communities in northwestern australia - photo licensed by shore news network.

SYDNEY (Reuters) -Military helicopters airlifted hundreds of people from communities cut off by “once in a century” floods in Australia’s northwest, an official leading relief …

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