Lynas blamed illegal Chinese miners for adding to an oversupply of rare earths which has driven prices down to historic lows.» Read More
The Melbourne Cup may be known as the race that stops the nation, but with the big event expected to generate over A$700 million for the Australian economy, it could also be known as the race that's supports the nation.
American policy makers have long been confident, even during the darkest days of the current financial crisis, that the United States could avoid the fate of Japan and its two lost decades. But that has changed, reports the New York Times.
A Chinese scientific research center has built the fastest supercomputer ever made, replacing the United States as maker of the swiftest machine, and giving China bragging rights as a technology superpower. The New York Times reports.
Macquarie Group, the Australian bank, has shaken up its infrastructure investment business by cutting more than a 10th of its staff, curtailing the life of its latest European fund and granting investors a discount on fees.
With the announcement that the Singapore Stock Exchange plans to acquire its Australian counterpart, it is clear that Asia’s growing role as the financial center of the world is gaining strength.
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Nathan Tinkler seems like your average man. He’s a trained electrician, with a young family, and has a passion for racing and V8 super cars. But this 34-year-old, is not your everyday Australian. With a personal fortune of A$610 million ($596 million) earned in the space of just a few years, Nathan Tinkler is on track to becoming Australia’s youngest and fastest-ever self-made billionaire.
China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of some of those same materials to the United States and Europe, three industry officials said on Tuesday. The NYT reports.
Like many members of Japan’s middle class, Masato Y. enjoyed a level of affluence two decades ago that was the envy of the world. Masato, a small-business owner, bought a $500,000 condominium, vacationed in Hawaii and drove a late-model Mercedes.
Australian business confidence eased from three-month highs in September but the slight pull-back was accompanied by a sharp rise in sales and higher profits, a fresh survey showed on Tuesday.
Upstream Chinese consumer staples are attractive investments due to the rising expectation of inflation, said Eddie Lau, regional head of consumer research at Citi.
There is not much upside to investing in U.S. Treasurys in light of the nation's massive fiscal spending, said Michael Hasenstab, senior VP & portfolio manager at Franklin Templeton Fixed Income Group.
QBE Insurance, Australia's top insurer by premium, said its acquisition pipeline remains strong and aims to get back to an insurance profit margin of 16-18 percent for the year after posting a 39 percent fall in half-year profits.
The global economy will steer clear of a double dip recession, said Richard Branson, founder of the UK's Virgin Group, adding that he believes the "world is getting back on its feet."
Asian stock markets were mostly lower on Tuesday, as the Shanghai Composite Index's sharp slide weighed on sentiment but the declines were capped by Alcoa's stronger-than-expected quarterly profit reported after the close of U.S. trade.
Most Asian markets chalked up modest gains Monday, after Wall Street closed out its best week in a year on Friday.
Asian stocks trekked higher on Friday after a fall in U.S. jobless claims and solid sales reports by large retailers lifted Wall Street for a third straight day.
Asian stocks were up sharply on Thursday, after optimism over the upcoming earnings season sparked a rally on Wall Street, driving the Dow up 2.8 percent.
Asian stocks ended mostly lower Wednesday, failing to capitalize on a stronger finish on Wall Street, as doubts about global economic growth persisted.
Asian markets reversed course on Tuesday, turning positive as a strong rebound in Chinese stocks lifted sentiment.