After Medibank Private debuted above its issue price, Mathias Cormann, Finance Minister of Australia, explains the demand for state-owned assets.» Read More
Australia's Qantas Airways said on Friday it will hold talks with striking aircraft engineers on Monday to try to resolve a wage dispute which has disrupted flights around Australia.
Asia experienced a selloff across the board, led by Shanghai's 5 percent tumble, after shares plunged on Wall Street and oil prices shot above $140 a barrel, fanning investors' fears of high inflation and slowing economic growth. Japan and South Korea finished 2% lower.
Asian markets were mostly flat Thursday after the U.S. Federal Reserve kept rates steady while the euro hit a record high against the yen on the prospects for a euro zone rate rise.
Australian rural conglomerate Futuris said on Thursday chief executive Les Wozniczka had resigned, a day after the company slashed its fiscal 2008 profit forecast, helping its shares recover the previous day's heavy losses.
Asian markets pared back losses Wednesday, with Tokyo closing just slightly lower. Concerns about the U.S. economy cast a cloud over the session and trade remained cautious as investors awaited the outcome of the Fed's two-day meeting, which is expected to leave interest rates at 2%.
Asian markets drifted to a mixed close Tuesday, with trade kept largely muted as investors stayed cautious ahead of the U.S. Federal Reserve's rate decision at the its two-day policy meeting starting later today. Japan and Australia closed flat.
Miner BHP Billiton may be forced to scrap its plan to rewrite the way billions of dollars of iron ore are sold every year after rival Rio Tinto struck a benchmark deal with China, analysts said on Tuesday.
Brambles, the world's biggest pallet supplier, flagged solid profit growth this fiscal year and sought to reassure investors it was not about to lose valuable business from U.S. retailgiant Wal-Mart Stores.
Chinese steelmakers narrowly averted a showdown with Australian iron ore suppliers, when they agreed to a higher-than-expected rise in term iron ore prices a week before they would have had to start paying much higher spot prices.
Asian markets closed in the red Monday, but were well off their session lows as investors took the opportunity to buy beaten down stocks.
Asian markets were mixed Friday as regional stocks reacted to China's hiking of fuel prices. Trading has been volatile throughout the session with markets, particularly in Shanghai, making radical swings between positive and negative territory.
Australian flag carrier Qantas Airways faces rolling strikes by its engineers from next Monday as a pay dispute worsens, posing more headaches for an airline struggling with high fuel prices.
Asian stocks took a beating Thursday, after Wall Street closed at a three-month low, sparking fears of a pullback in export demand with oil prices remaining high and feeding a rally in safe-haven government bond prices. Japan shed 2.2 percent while Australia gave up 1.4 percent.
Asian markets staged a late rally Wednesday with Japan and South Korea closing in the black, as oil dipped for the fourth straight session, signaling lower costs for firms following a plan by top exporter Saudi Arabia to raise crude output.
Asian markets ended mixed Tuesday with the weaker U.S. dollar pushing exporters such as Canon to a weaker finish. But financial shares moved higher, helping to offsetting losses.
Australia's central bank concluded that interest rates were high enough to cool the economy and restrain inflation, at its June policy meeting, minutes showed on Tuesday, though the board stood ready to tighten further should demand not slow as expected.
Asian markets rallied Monday after muted U.S. consumer price data and softer oil prices helped ease concerns about inflation and higher interest rates in the world's top economy. Japan closed 2.7% higher.
Asian markets came off initial losses Friday in volatile trading, with gains in technology and export-related stocks offsetting weakness in financials and shippers. Japan, Australia and South Korea all closed stronger.
Domestic demand in Australia is cooling in the face of higher interest rates but coming stimulus from a trade boom means a tight monetary policy remains essential, the country's top central banker said on Friday.
Asian stocks sank deep into the red Thursday, with markets battered down by 2% on average. Japan, Australia and South Korea all closed sharply lower.