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Asia-Pacific News Australasia

  • *Elliott attack on BHP underscores rise of activism in Australia. SYDNEY/ LONDON, June 21- As BHP Billiton fends off the attention of Elliott Management, activist funds are targeting other Australian firms, shaking up a corporate culture that has long favored quiet chats over splashy headlines. "Whereas before it was quite normal for companies to address any...

  • SYDNEY/ LONDON, June 20- Rio Tinto selected Yancoal on Tuesday to buy its Coal& Allied division in Australia for $2.45 billion, surprising commodities trading giant Glencore, which had put in a higher bid. Glencore offered $2.55 billion cash this month for Rio's coal mines in the Hunter Valley region of New South Wales, beating a previous offer from Yancoal, which is...

  • But monetary tightening in China has stoked worries about the appetite for industrial metals in its biggest market. Monetary tightening in China is still taking place. " *ZINC: Benchmark zinc on the London Metal Exchange closed 0.04 percent down at $2,555 a tonne, retreating from an intraday peak of $2,581.50, the highest since June 1.

  • But monetary tightening in China has stoked worries about the appetite for industrial metals in its biggest market. Monetary tightening in China is still taking place. " *ZINC: Benchmark zinc on the London Metal Exchange was down 0.4 percent at $2,547 a tonne at 1411 GMT, retreating from an intraday peak of $2,581.50, the highest since June 1.

  • SYDNEY/ LONDON, June 20- Rio Tinto selected Yancoal on Tuesday to buy its Coal& Allied division in Australia for $2.45 billion, surprising commodities trading giant Glencore which had put in a higher bid. Earlier this month, Glencore offered $2.55 billion cash for Rio's coal mines in the Hunter Valley region of New South Wales, beating a previous offer from Yancoal,...

  • A steady drumbeat of news has encouraged bulls recently, including news of a market deficit, an expected strike in major producer Peru and declining inventories. *ZINC: Benchmark zinc on the London Metal Exchange was up 0.6 percent at $2,571 a tonne by 1040 GMT after touching $2,581.50, the highest since June 1. A planned nation-wide mining strike in Peru due to...

  • SYDNEY, June 20- Rio Tinto on Tuesday said it was sticking to a recommendation of China- backed Yancoal as the preferred buyer of its Coal& Allied division in Australia, rejecting a counter-offer from Glencore. Miner-trader Glencore earlier this month said it had offered $2.55 billion cash for coal mines owned by Rio Tinto, outbidding a previous offer from...

  • CANBERRA, Australia— Australia's government will restrict gas exports from next year in an effort to contain soaring energy prices in the domestic market, the prime minister said Tuesday. Australia is about to overtake Qatar as the world's largest exporter of liquefied natural gas. Prime Minister Malcolm Turnbull said the government would not tolerate...

  • MELBOURNE, June 20- Australia's conservative government stepped up efforts to cut power prices on Tuesday by proposing to block network operators from appealing regulated rates. Australia's Deputy Prime Minister Barnaby Joyce told the coalition government on Tuesday that energy bills were the "No.1 issue amongst the electorate," a person familiar with...

  • MELBOURNE, June 20- London copper traded flat on Tuesday, as a stronger dollar capped gains after comments by a Federal Reserve official that boosted confidence in another U.S. interest rate rise this year. *NICKEL COMMENT: "This news is likely to stabilize the nickel price and more specifically create a floor," said Sydney- based Shaw and Partners resources analyst...

  • WELLINGTON, June 20- Air New Zealand said on Tuesday that its passenger numbers had grown in May and that a decline in a key revenue measure had moderated, helping its shares climb 3 percent to a 16- year high. "If you start looking at the trend in recent months its turned a lot more positive than it was at the start of the year or late last year," said Andy Bowley, Wellington-...

  • WELLINGTON, June 20- Air New Zealand said on Tuesday that it had signed four contracts with the U.S. Navy worth up to $42 million to service its fleet's gas turbine engines. The airline said in a statement to the New Zealand stock exchange that its Auckland- based gas turbine repair unit would provide maintenance and servicing of the U.S. Navy's engines over the next...

  • LONDON, June 19- Zinc prices touched a two-week high on Monday as expectations of stronger demand from steelmakers rose and inventories of the metal on the London Metal Exchange hit nine-year lows. She cited China's rising imports of refined zinc and falling zinc output in data. CHINA: In April, China's refined zinc output fell to its lowest in more than two years...

  • LONDON, June 19- Zinc prices touched a two-week high on Monday as expectations of stronger demand from steelmakers rose and inventories of the metal on the London Metal Exchange hit nine-year lows. She cited China's rising imports of refined zinc and falling zinc output in data. CHINA: In April, China's refined zinc output fell to its lowest in more than two years...

  • LONDON, June 19- Zinc prices touched a two-week high on Monday as expectations of higher demand from steelmakers rose and inventories of the metal on the London Metal Exchange hit nine-year lows. She cited China's rising imports of refined zinc and falling zinc output in data. CHINA: In April, China's refined zinc output fell to its lowest in more than two years due...

  • At a closed-door meeting last month, Arizona State University ecologist Leah Gerber presented a plan to U.S. Fish and Wildlife Service officials that would use a mathematical formula to direct government money away from endangered and threatened species she calls "over-funded failures" and toward plants and animals that can more easily be saved.

  • She cited China's rising imports of refined zinc and falling zinc output in data. CHINA: In April, China's refined zinc output fell to its lowest in more than two years due to mine closures. HOME PRICES: Home prices leveled off in China's biggest cities in May but continued to climb nationwide, indicating demand remains resilient despite a series of government...

  • *Sydney, Melbourne house prices have doubled since 2009. SYDNEY, June 19- Moody's Investors Service on Monday downgraded 12 Australian banks, including the four biggest lenders, reflecting what it called elevated risks in the household sector. House prices in Sydney and Melbourne have more than doubled since 2009..

  • *Asia ex- Japan, Nikkei gain in early trade. *Wall Street mixed on Friday following upbeat European session. SINGAPORE, June 19- Asian stocks began the week modestly higher on Monday after Wall Street offered little guidance, while sterling and the euro steadied before the start of talks over the terms of Britain's exit from the European Union.

  • MONDAY, JUNE 19 CANBERRA- Reserve Bank of Australia Governor Philip Lowe takes part in panel discussion at the 2017 Crawford Australian Leadership Forum in Canberra. SYDNEY- Reserve Bank of Australia to release minutes of June monetary policy meeting- 0130 GMT. BANGKOK- Prime Minister Prayuth Chan- ocha, Deputy Prime Minister Somkid Jatusripitak and Finance...