Australia’s Domino’s Pizza plummets on withdrawing annual outlook, rating downgrades
By Himanshi Akhand (Reuters) – Shares in Australia’s Domino’s Pizza Enterprises posted a record drop on Thursday, after the retail food outlet operator withdrew its fiscal 2024 outlook and its first-half profit…
Australia’s Woolworths offers to buy majority stake in MyDeal.com
(Reuters) – Australia’s Woolworths Group on Friday offered to buy 80% stake in online retailer MyDeal.com, as it looks to take on major internet retail giants operating in the country that includes…
Australia’s economy holds plenty of pitfalls for election winner
By Wayne Cole SYDNEY – Whichever party takes the reins of power at Australia’s election on Saturday faces an economic road pitted with pot holes, from runaway inflation to rising interest rates,…
Barclays bumps up stake in Australia’s Barrenjoey Capital
(Reuters) – Britain’s Barclays Plc said on Wednesday it had nearly doubled its stake in Barrenjoey Capital Partners to help expand the Australia-based investment banking boutique’s business. The move comes as investment…
Australia’s Morrison vows more empathy if re-elected PM
SYDNEY – Australian Prime Minister Scott Morrison promised on Saturday to be more empathetic if he wins re-election, as his government continues to trail the opposition Labor Party a week before a…
Australia’s #MeToo puts miners and ministers in crosshairs of history
By Byron Kaye and Praveen Menon SYDNEY – Australia’s mighty #MeToo wave is piling pressure on mining and political leaders who are preparing to face a reckoning over sexual harassment scandals stretching…
Australia’s Albanese banks on working class brand to restore Labor to power
By Byron Kaye SYDNEY – When Australian opposition leader Anthony Albanese was only 12 years old, he says, he helped to organise a rent strike that kept his mother’s public housing property…
Australia’s central bank drastically raises inflation forecasts, flags more rate hikes
SYDNEY – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control.…
Australia’s central bank enters political minefield as rate hike nears
By Wayne Cole SYDNEY – Australia’s central bank is in a bind as it contemplates its first interest rate increase in more than a decade, with its decision set to antagonise one…
Australia’s CBA Chair Livingstone to retire, O’Malley named replacement
(Reuters) – Commonwealth Bank of Australia, the country’s No.1 lender, said on Wednesday that Chair Catherine Livingstone would retire in August after more than five years in the role. She would be…
Australia’s Whitehaven Coal output falls on labour crunch
(Reuters) – Australia’s Whitehaven Coal Ltd reported a 5% drop in third-quarter production on Wednesday as adverse weather and a labour shortage worsened by COVID-19 dented output. The country’s largest independent coal…
Australia’s CBA rebuffs reports of partnership with crypto trading platform
(Reuters) – Commonwealth Bank of Australia warned of a fake news article doing rounds on social media platforms alleging the country’s No. 1 lender to have partnered with a cryptocurrency trading platform…
Australia’s Rio Tinto exits state mining lobby amid climate rift
(Reuters) – Rio Tinto, one of the largest Australian mining companies, on Thursday confirmed its exit from the state mining lobby group after raising concerns that its policy on expansion of coal…
Australia’s Lynas posts record revenue on strong demand for rare earths
(Reuters) -Australia’s Lynas Rare Earths on Tuesday posted a record quarterly revenue as demand for the specialized metals it mines surged amid a global push to electrify vehicles and curb carbon emissions.…
Australia’s Westpac unit penalised for charging incorrect insurance fees
(Reuters) – Australia’s Federal Court on Friday ordered lender Westpac Banking Corp’s superannuation agent to pay A$20 million ($14.96 million) in penalty for incorrect insurance charges. The court said BT Funds Management…
Australia’s Graincorp raises profit view on Ukraine conflict-led shortage
By Harshita Swaminathan (Reuters) – Graincorp said on Friday it expects underlying profit for fiscal 2022 to be around 2.5 times that of last year, as the Australian agribusiness firm benefits from…
Australia’s Virtus Health considers revised bid from BGH in takeover battle with CapVest
By Riya Sharma and Sameer Manekar (Reuters) – Australian fertility services provider Virtus Health said on Wednesday it will consider a revised buyout offer from minority owner BGH Capital, weeks after it…
Regulator to launch disciplinary action against Australia’s Crown Resorts
(Reuters) – The Victorian gambling regulator will launch disciplinary action and can impose fines of up to A$100 million ($75.82 million) on Crown Resorts after an inquiry found the Australian casino operator…
Australia’s central bank gets first female deputy governor
SYDNEY -The Australian government on Friday appointed a woman as second in command at the country’s central bank, the first female to hold the position in the bank’s 62-year history and a…
Australia’s Qantas aims to cut carbon emissions 25% by 2030
By Jamie Freed SYDNEY -Qantas Airways Ltd plans to reduce carbon emissions by about 25% by 2030, in part by boosting sustainable aviation fuel to 10% of its fuel mix and increasing…
Australia’s Star Entertainment to defend class action over ‘deceptive conduct’
(Reuters) – Australia’s Star Entertainment Group faces a class action over allegations that it failed to comply with disclosure requirements, the company said on Wednesday, amid a public inquiry into the group’s…
Australia’s central bank still patient on policy despite inflation shock
By Wayne Cole SYDNEY – Australia’s central bank remains prepared to be patient on raising interest rates as it waits for wage growth to pick up, though it warned a surge in…
Australia’s vaccine diplomacy in Pacific islands wards off Beijing – PM Morrison
SYDNEY – Australia has been able to stop an “incursion” by Beijing into the Pacific islands by talking with leaders there weekly and offering vaccine aid, Prime Minister Scott Morrison said on…
Australia’s Macquarie to launch offshore wind energy business
– Australian financial conglomerate Macquarie Group’s green investment unit said on Thursday it would launch an offshore wind energy business, with operations set to start in April. The new business, Corio Generation,…
Australia’s Core Lithium enters into supply deal with Tesla, shares jump
– Australia’s Core Lithium Ltd on Wednesday entered into an agreement with Tesla Inc to supply the U.S. electric car maker with lithium spodumene, sending its shares up 13% in early trading.…
Australia’s Q4 GDP looking even stronger as trade surprises
By Wayne Cole SYDNEY – Australia’s trade performance last quarter was much less of a drag on the economy than first thought implying upside risk for growth, even as imports outstripped exports…
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