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Australia

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  • BHP Billiton Shares Rise on Fresh China Stake Talk Thursday, 15 May 2008 | 8:47 PM ET

    Chinese interests have approached a major Australian superannuation and investment fund to be their partner in a multi-billion-dollar swoop on 9 percent of BHP Billiton, The Australian newspaper reported.

  • Australia Barley Exporter Says Japan Shipment Clean Thursday, 15 May 2008 | 1:13 AM ET

    An Australian barley exporter said on Thursday it had found no evidence that a 20,000 ton shipment to Japan contained excessive pesticides, after Japan cancelled the purchase.

  • Australia's CSR Year Profit Falls 20% Tuesday, 13 May 2008 | 9:35 PM ET

    St George Bank, Australia's fifth-biggest lender by assets, reported a weaker-than-expected 6.2% rise in first-half profit amid tough market conditions, and trimmed its year growth target.

  • Australia Central Bank Holds Rates, Sees Slowdown Tuesday, 6 May 2008 | 1:38 AM ET

    Australia's central bank kept interest rates steady at a 12-year high of 7.25 percent on Tuesday, pointing to a slowdown in demand which could mean a further tightening is not needed.1st paragraph of story should go here

  • St George Bank's Profit Up, Lowers Year Target Monday, 5 May 2008 | 7:57 PM ET

    St George Bank, Australia's fifth-biggest lender by assets, reported a weaker-than-expected 6.2% rise in first-half profit amid tough market conditions, and trimmed its year growth target.

  • Australia's Incitec Pivot Profit More Than Triples Sunday, 4 May 2008 | 9:07 PM ET

    Incitec Pivot's first-half profit more than tripled, spurred by a massive increase in fertilizer prices which should propel full-year earnings above forecast, the Australian fertilizer maker said.

  • ANZ Bank Wins Latest Round Over Opes Sales Friday, 2 May 2008 | 1:38 AM ET

    Australia & New Zealand Bank has won the first round in a test-case court battle over its sale of some shares it had seized as collateral from failed local stockbroker Opes Prime.

  • Australia's Santos Mulls Plans Amid Takeover Action Friday, 2 May 2008 | 1:16 AM ET

    Australian oil and gas producer Santos said on Friday it was considering potential strategic initiatives as it comes under pressure to grow amid moves towards consolidation in the sector.

  • Allco Expects Over $1.4 Billion Loss in Fiscal 2008 Wednesday, 30 Apr 2008 | 10:12 PM ET

    Australian investment group Allco Finance said it faced a loss in excess of $1.4 billion in fiscal 2008 due to writedowns, impairments, cheap asset sales and restructuring costs.

  • Westpac's Profit Rises 10%, Sees Slower Loan Growth Wednesday, 30 Apr 2008 | 8:38 PM ET

    Westpac Banking, Australia's fourth-biggest lender, met analysts' forecasts with a 10 percent rise in first-half core profit, driven by growth in business and consumer lending. 

  • BG Group Offers $12 Billion for Australia's Origin Tuesday, 29 Apr 2008 | 8:41 PM ET

    British utility BG Group has offered $12.1 billion for Origin Energy, Australia's second-largest power retailer, as it looks to establish itself as a major player in the Pacific region, sending Origin's shares up nearly 40%.

  • China Group to Up Stake in Australia's Apollo Tuesday, 29 Apr 2008 | 12:19 AM ET

    Chinese Iron and Steel Group (CISG) plans to lift its stake in Australian prospector Apollo Minerals to 19.9 percent, Apollo said on Tuesday, the latest Chinese move into Australia'sresource sector.

  • Australia's AWE to Buy Arc for $479 Million Wednesday, 23 Apr 2008 | 11:23 PM ET

    Oil and gas producer Australian Worldwide Exploration plans to buy oil firm Arc Energy for $479 million in a cash and share deal, a source familiar with negotiations said on Thursday.

  • Aussie Dollar at 24-Year Highs as Inflation Surges Wednesday, 23 Apr 2008 | 2:25 AM ET
    Australian Currency

    The Australian dollar jumped to a 24-year peak against the U.S. currency on Wednesday after  higher-than-expected inflation data for the first quarter left investors facing an extended period of tight monetary policy.

  • ANZ's Core Profit Drops 14% on Higher Provisions Tuesday, 22 Apr 2008 | 9:26 PM ET

    Australia and New Zealand Banking Group, Australia's third-biggest lender, reported a 14 percent fall in first-half core profit due to higher bad debt charges and said it expected higher levels of new problem loans.

  • Austrailia, Austrailian Flag

    Australian conglomerate Wesfarmers, facing increased debt refinancing costs for its $17 billion acquisition of retailer Coles, said it would sell new shares to raise $2.33 billion.

  • Brambles Shares Dive on Wal-Mart Review Plans Thursday, 17 Apr 2008 | 10:07 PM ET

    Shares in Australian logistics firm Brambles fell almost 18% on Friday on concern it may lose business after it said U.S. retailer Wal-Mart Stores was reviewing the way it sources pallets.

  • Australia's Woolworths Quarter Sales Up 10.2% Tuesday, 15 Apr 2008 | 9:55 PM ET

    Woolworths, Australia's largest supermarket chain, reported on Wednesday a 10.2 percent rise in third-quarter sales, boosted by higher food and petrol prices and reiterated it expectedfull-year sales growth of between 8 and 10 percent.

  • IAG Rejects QBE's $6.8 Billion Takeover Proposal Monday, 14 Apr 2008 | 8:48 PM ET

    QBE Insurance Group, Australia's biggest insurer by premium income, said on Tuesday smaller rival Insurance Australia Group had rejected a $6.8 billion takeover proposal.

  • Australia's Virgin Blue Tumbles on Weak Outlook Sunday, 13 Apr 2008 | 10:02 PM ET

    Shares in Virgin Blue Holdings fell 18.5% to a record low on Monday after Australia's second-biggest airline warned its profit would more than halve as it faces higher fuel costs and competition.