Wayne Swan, Former Treasurer & Deputy Prime Minister of Australia, responds to Australian Treasurer Joe Hockey's comments about how Canberra inherited deficits from the previous government.» Read More
Australia's CSL, the world's top maker of plasma products, agreed to buy U.S.-based Talecris Biotherapeutics Holdings for $3.1 billion, to further boost its presence in the plasma market.
Telstra, Australia's biggest phone company, missed expectations with a 14 percent rise in second-half profit on Wednesday, and forecast growth in the year ahead that was also belowanalysts' expectations.
Asian markets were mixed Tuesday with oil prices retreating for five of the last six days, as focus centered on the potential for further economic weakness, particularly after data showed Japan's wholesale inflation at the highest in 27 years.
With the exception of China, Asian markets rose sharply Monday as the U.S. dollar hit a six-month high against the euro and oil briefly slipped below $115 a barrel.
Australia's central bank on Monday said the economy looked to be slowing enough to significantly reduce inflation over time, providing growing scope to ease interest rates from 12-year highs.
Asian markets pulled both ways on Friday, as Taipei jumped over 2 percent while Shanghai skidded, with concerns about the health of domestic and global economies dominating investor sentiment.
Major Asian markets were lower across the board Friday, with bank stocks hit especially hard, as more bad news out of the U.S. financial sector exacerbated worries about banks.
Major Asian markets put on a strong showing on Wednesday, tracking a Wall Street rally that came on the heels of the U.S. Federal Reserve's decision to leave interest rates unchanged.
Asian markets extended Monday's losses amid sharp falls in commodities and deepening fears of a weakening global economy.
Private equity group TPG plans to study Asciano's full-year results on Wednesday before deciding what to do about its A$2.9 billion ($2.7 billion) takeover approach, which the Australian port and rail operator has rebuffed.
Asian markets fell Monday as a rebound in oil prices to above $126 revived inflation concerns at a time when major economies such as the U.S. and Japan are already seen headed for tough times. Japan lost 1.2% while South Korea fell almost 2%.
Asciano, Australia's biggest port and rail operator, said on Monday it had received an unsolicited bid worth around $2.7 billion from private equity, sending its share price up as much as 17 percent.
Asian markets extended losses in the afternoon session Friday after disappointing U.S. economic data revived concerns about a recession in the world's top economy and bearish comments from former Fed chairman Alan Greenspan sank Wall Street.
Manufacturing in Australia slowed in July to its lowest level since late 2005 and new orders dropped as higher interest rates and the global credit squeeze continued to crimp activity, a private survey showed on Friday.
Asian stocks were mostly higher Thursday, though markets pared back gains as investors weighed central bank support for the financial sector against continued uncertainty about growth and the worry that loose monetary policy could fuel inflation further out.
Australian retail sales took their biggest fall in six years in June, stirring fears the economy was slowing far more rapidly than policy-makers had planned and fanning talk of early cuts in interest rates.
Asian markets rallied Wednesday as investors joined Wall Street's optimism that the worst news from U.S. banks might be over and took heart from a strengthening dollar and falling oil prices. Japan and Australia both closed higher.
Asian stocks tumbled Tuesday, after Merrill Lynch, the third-largest U.S. investment bank, said it would take a $5.7 billion write down related to bad debt, draining confidence in the unstable financial sector. Japan and Australia both fell 1.5%.