Rhode Island Man Admits to Shipping Fentanyl to Australia
Felix Suarez, 25, pleaded guilty to conspiracy to distribute and to possess with intent to distribute fentanyl; two counts of attempt to distribute a controlled substance; unlawful export of a controlled substance;…
Australia business activity robust in April, cost pressures still a challenge
SYDNEY (Reuters) – Australian business conditions remained sturdy in April, supported by robust sales and labour market strength despite high inflation and rising interest rates, while cost pressures were still posing a…
Australia to predict lower unemployment, higher wages in looming budget
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, a mix that it hopes will generate…
Australia budget to trim forecast for cost of servicing debt for next three years
By Lewis Jackson SYDNEY (Reuters) – Australia has lowered its forecast for the cost of servicing government debt over the next three years, though the government still sees annual repayments rising to…
Australia central bank surprised by rapid recovery in population growth -official
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, pushing up rents and leading to an…
Australia March retail sales post slowest annual growth in 14 months
SYDNEY (Reuters) – Australian retail sales grew at their slowest annual pace in 14 months in March in a warning sign for consumption that will only get worse following a surprise hike…
Coffee at home: Australia Woolworths’ sales jump as shoppers cut costs
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 bought more of its cheaper house-brand products…
Australia to reveal huge budget rebound, pledge restraint in response
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 coffers bulge with tax windfalls, yet the…
Australia nears wide-ranging shake up of its central bank
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 require legal changes for some steps, underlining…
Australia signs land deal for proposed battery material plant
SYDNEY (Reuters) – The state of Western Australia will allocate land to a battery metal processing facility proposed by IGO Ltd and Wyloo Metals, which is backed by billionaire Andrew Forrest, as…
National Australia Bank lowers peak rate call for Australia to 3.85%, from 4.1%
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 estimate of 4.1%. NAB added it still…
Australia treasurer: Some central bank review proposals may need legislative changes
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 board make-up may require legislative changes to…
Australia retail sales growth slows to 0.2% in February
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 in the face of higher costs of…
World near peak of interest rate cycle -HSBC Australia CEO
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 inflation fighting, HSBC Australia Chief Executive Antony…
Australia would not allow AT1 debt security holder wipe-out -minister
SYDNEY (Reuters) – Australian law would not allow regulators to wipe out AT1 tier credit holders while shareholders received some compensation as occurred during the Swiss government-brokered takeover of Credit Suisse by…
Australia market major backs plan to break ASX monopoly on post-trade functions
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 monopoly over clearing and settlement, saying its…
Australia could reap $11.3 billion from battery sector by 2030 – Accenture
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, highlighting the speed of the sector’s expansion…
Australia regulator seeks risk reports from banks on startups, crypto -report
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 Silicon Valley Bank, according to the Australian…
Australia report calls for tax, migration reforms as productivity stalls
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 carbon emissions at the lowest cost to…
Australia ‘closely monitoring’ global financial turmoil -treasurer
SYDNEY (Reuters) – Australia is closely monitoring the current global financial turmoil, including the situation at Swiss lender Credit Suisse and some banks in the United States, Treasurer Jim Chalmers said on…
Domestic data, not SVB collapse, in focus for rate hikes in Australia – top bank analysts
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 stringent regulation insulates its banking sector from…
Australia business activity strong in Feb, even as confidence wanes
SYDNEY (Reuters) – Australian business conditions remained resilient in February with sales and employment strong, even as confidence took a turn for the worse amid high inflation and rising interest rates. The…
Australia consumer mood stuck in the doldrums in March
SYDNEY (Reuters) – Australian consumer sentiment stayed stuck at historically depressed levels in March amid concerns over inflation and interest rates, a survey showed on Tuesday, with the appetite for buying big-ticket…
Australia to buy three nuclear-powered submarines with option to buy two more -White House
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 said on Monday. U.S. President Joe Biden,…
India, Australia aim to boost critical mineral trade in broader deal – ministers
NEW DELHI (Reuters) – India and Australia aim to expand trade in critical mineral to help them achieve their goals on reducing carbon emissions, as they seek a broad trade pact, Indian…
Analysis-Nuclear submarine plan aims to give Australia strategic edge to deter China
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, whose growing military presence means conflict can…
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