• Asian Markets Rally on Easing Oil Prices Wednesday, 23 Jul 2008 | 6:45 AM ET

    Asian markets strengthened Wednesday, as a drop in oil prices boosted cost-sensitive transport and consumer stocks, while a rise in the U.S. dollar lifted exporters. Both South Korea and Australia climbed 2 percent.

  • Australia's Core Inflation Hits 17-Year High Tuesday, 22 Jul 2008 | 11:32 PM ET
    Austrailia, Austrailian Flag

    Core inflation in Australia accelerated to its fastest annual pace in 17 years last quarter as the cost of fuel, financing and rents all climbed, suggesting interest rates would have to stay high for some time to come.

  • Macquarie Jumps 11% on Firm Start to Year Tuesday, 22 Jul 2008 | 10:55 PM ET

    Macquarie Group, Australia's top investment bank, said it had a solid start to the 2009 fiscal year, allaying worries about its business model and driving its shares up 10 percent in their biggest one-day rise in nearly four months.

  • Asian Markets Ease on US Earnings, But Tokyo Jumps 3% Tuesday, 22 Jul 2008 | 6:03 AM ET

    Asian stocks outside of Japan slipped Tuesday after a landslide of lower-than-expected U.S. corporate results sparked fears of a pullback in consumer demand, boding ill for the region's exporters. But Tokyo rallied 3% higher.

  • Seoul, Sydney Climb 3% as Asian Markets Surge Monday, 21 Jul 2008 | 5:45 AM ET

    Asian markets surged Monday, helped by a smaller-than-expected loss at Citigroup that provided comfort about the financial sector's stability ahead of more results this week from banks and industrial companies. Both South Korea and Australia gained over 3%.

  • Australia Producer Inflation Tempered by Imports Sunday, 20 Jul 2008 | 10:50 PM ET
    Austrailia, Austrailian Flag

    Australia's producer prices rose by less than expected last quarter thanks to falling costs for a range of imported goods, perhaps lessening the risk of an alarmingly high reading for consumer inflation later this week.

  • Australia's Flight Centre Sees 40% Profit Growth Sunday, 20 Jul 2008 | 9:08 PM ET

    Australian travel retailer Flight Centre confirmed its full-year pretax profit will jump about 40 percent, in line with its previous forecast, boosted by healthy global sales, and forecast further growth in 2009.

  • Sanofi Aventis

    French drug maker Sanofi-Aventis will pay $544 million for the vitamins business of Australia's Primary Health Care, a source close to the deal said on Monday.

  • Asian Markets Slip, Banks Lose Momentum Friday, 18 Jul 2008 | 6:21 AM ET

    Asian markets fell Friday, hurt by resource-related shares stung by oil's 10% decline this week and by weaker-than-expected results from Merrill Lynch, which deflated hopes for a recovery in the financial sector.

  • Qantas Cuts 1,500 Jobs as Fuel Price Bites Thursday, 17 Jul 2008 | 9:04 PM ET
    Qantas passenger jets parked at their terminal at Sydney Airport.

    Australia's biggest airline, Qantas Airways, will cut 4 percent of its workforce and scrap its growth plan for the coming year, saying the business would be at risk if it fails to offset soaring fuel prices.

  • Asian Markets Rebound, Japan Climbs 1% Thursday, 17 Jul 2008 | 5:10 AM ET

    Asian markets rebounded but were off their highs Thursday, boosted by Wall Street's rally Wednesday and a decline in oil prices, providing some relief from fears about the global credit crisis spiraling out of control. Japan closed 1% higher.

  • Australia's Qantas to Axe 2,000 Jobs: Report Wednesday, 16 Jul 2008 | 8:31 PM ET
    Qantas passenger jets parked at their terminal at Sydney Airport.

    Australia's Qantas Airways will sack 2,000 staff as soon as next week to combat sharply rising fuel costs, local newspapers report.  The carrier, already hard hit by strikes over a long-running pay dispute involving engineers, will slash 5% of its 36,000-strong workforce.

  • Asian Stocks Mixed, Economic Uncertainty Remains Wednesday, 16 Jul 2008 | 5:17 AM ET

    Asian markets seesawed Wednesday with investors uncertain about global growth prospects, the state of the financial sector and volatile oil prices. Japan finished flat, South Korea fell but Australia gained over 1%.

  • Financials Sink Asia, Seoul Drops 3%, Tokyo Sheds 2% Tuesday, 15 Jul 2008 | 5:17 AM ET

    Asian markets tumbled Tuesday with Japan and Australia losing 2% and South Korea tumbling 3%. Investor confidence waned in the region's financial sector, which faces high inflation, a stricter lending environment and massive volatility from overseas markets.

  • RBA Says Monetary Policy Is Cooling Demand Monday, 14 Jul 2008 | 10:04 PM ET

    Australia's central bank was growing more confident that interest rates were high enough to  retrain future inflation when it left rates unchanged at a 12-year high earlier this month, minutes of its July meeting showed on Tuesday.

  • Australia's Centro Sells US Malls for $714 Million Monday, 14 Jul 2008 | 8:35 PM ET

    Centro Properties Group, a high-profile Australian victim of the global credit crunch, is selling almost all of the shopping malls in its Centro America Fund for $714 million, using the cash to pay down debt.

  • Asian Stocks Mostly Lower, Wary of US Plan Monday, 14 Jul 2008 | 5:09 AM ET

    Asian markets were mostly weaker Monday after Washington unveiled an emergency plan to rescue the top U.S. mortgage finance companies, offering to buy shares if necessary. Japan and South Korea both closed slightly lower.

  • Toll to Exit Virgin Blue, Take $1.2 Billion Charge Sunday, 13 Jul 2008 | 8:31 PM ET

    Australia's Toll Holdings said it plans to offload its stake in airline Virgin Blue Holdings, and would take a $1.2 billion charge in its fiscal 2008 profit to reflect the lower value of its stake.

  • Asian Stocks Rally on Fannie, Freddie Report Friday, 11 Jul 2008 | 5:10 AM ET

    Most Asian markets made a sharp turn into positive territory after the New York Times reported that the U.S. government is considering taking over the two top U.S. mortgage finance companies.

  • NAB in Talks to Buy ABN AMRO's Australia, NZ Units Thursday, 10 Jul 2008 | 8:30 PM ET

    National Australia Bank, the nation's top lender, said on Friday it was in talks to buy ABN AMRO's operations in Australia and New Zealand which was being sold following ABN's acquisition by a banking consortium including Royal Bank of Scotland.