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Australia

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  • Australian zinc producer Zinifex launched an all-cash bid worth up to $668 million for nickel miner Allegiance Mining, the latest in a hectic round of industry consolidation.

  • NZ's Auckland Airport Rejects Takeover Offer Sunday, 16 Dec 2007 | 6:56 PM ET

    The board of New Zealand's Auckland International Airport said shareholders should reject a $1.4 billion partial takeover offer from the Canada Pension Plan Investment Board, because it undervalued the company.

  • Australian Consumer Sentiment Improves in December Tuesday, 11 Dec 2007 | 6:45 PM ET

    Australian consumer sentiment improved in December as relief over the central bank's decision not to raise interest rates enhanced confidence in the economy, a survey showed on Wednesday.

  • Australia's Midwest Shares Leap on Sinosteel Rival Bid Monday, 10 Dec 2007 | 12:04 AM ET

    Shares in Australian iron ore prospector Midwest Corp surged over 11 percent on Monday after it received a US$1 billion cash takeover proposal from China's Sinosteel at the end of last week, which trumped an earlier offer from Murchison Metals.

  • SP Ausnet Scraps Alinta Assets Buy, Shares Jump Sunday, 9 Dec 2007 | 9:28 PM ET

    Australian infrastructure firm SP Ausnet pulled out of a plan to pay $7.3 billion for assets of former energy firm Alinta, blaming a downturn in capital markets, sending its shares up 9 percent on Monday.

  • Murdoch's Son to Lead News Corp Asia, Europe Friday, 7 Dec 2007 | 6:29 AM ET

    Rupert Murdoch's younger son James is to return to News Corp. to head its Asian and European operations in a move that appears to make him heir apparent to the global media empire.

  • Drought to Hit Australia Commodity Export Income Wednesday, 5 Dec 2007 | 9:43 PM ET

    Australia cut its official forecast for 2007/08 total commodity export income on Thursday, citing the effects of the worst drought in a century on farming exports as well as a strong Australian dollar.

  • Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.

  • Xstrata Bids $842 Million for Resource Pacific Tuesday, 4 Dec 2007 | 8:54 PM ET

    Swiss mining group Xstrata offered A$960 million ($842 million) for Australian thermal coal producer Resource Pacific on Wednesday, rivaling an offer last month by New Hope Corp.

  • Australia Retail Growth Slows After Spending Spree Monday, 3 Dec 2007 | 10:06 PM ET

    Australian retail sales rose less than forecast in October as consumers cut back on household goods purchases after months of heavy spending, reinforcing expectations the central bank will keep rates on hold this week.

  • Australia's Rudd Sworn in as PM, Vows to Sign Kyoto Sunday, 2 Dec 2007 | 9:03 PM ET
    KEVIN RUDD

    Australia's Labor leader Kevin Rudd was sworn in as prime minister on Monday, promising to urgently sign the Kyoto Protocol on climate change.  But Rudd said that the country was likely to miss its Kyoto target for reducing greenhouse gas emissions by 2012.

  • Australia Inflation Gauge Rises in November Sunday, 2 Dec 2007 | 7:01 PM ET

    Australian inflation accelerated further above the central bank's comfort zone in November as petrol prices climbed, a private survey showed on Monday, suggesting interest rates might yet have to rise further.

  • Australia's NAB to Buy US Regional Bank Thursday, 29 Nov 2007 | 1:14 AM ET

    National Australia Bank, the country's top lender by assets, said on Thursday it has agreed to buy the privately owned Great Western Bank for $707 million to expand its U.S. agribusiness banking.

  • Australia's Rudd Picks New Labor Team Wednesday, 28 Nov 2007 | 10:44 PM ET
    KEVIN RUDD

    Australia's centre-left Prime Minister-elect Kevin Rudd named Labor's first cabinet in 11 years on Thursday, appointing former academic Wayne Swan to the key economic management job as treasurer.

  • Australian Investment Boom Eases in Third Quarter Wednesday, 28 Nov 2007 | 9:25 PM ET

    Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.

  • Symbion Says Healthscope Bid Will Not Proceed Monday, 26 Nov 2007 | 6:49 PM ET

    Symbion Health said on Tuesday that a planned $2.4 billion takeover led by Healthscope would not proceed after Australian tax authorities disallowed tax relief on parts of the deal.

  • Australia Heralds in a New Labor Era Sunday, 25 Nov 2007 | 11:54 PM ET
    KEVIN RUDD

    There wasn't much doubt by the end of last week that come late Saturday evening, Australia would indeed see a new Prime Minister and a Labor win.  But few suspected the bloodbath, John Howard's ruling Coalition government of 11 solid years would suffer.

  • Australia's Healthscope, Symbion on Trading Halt Sunday, 25 Nov 2007 | 8:26 PM ET

    Shares in Australian health sector takeover target Symbion Health and its suitor Healthscope were placed on trading halts on Monday, ahead of a market announcement.

  • Australia's Howard Fights for Political Life Friday, 23 Nov 2007 | 4:59 AM ET

    After more than 11 years in power, Australia's Prime Minister John Howard is now fighting for his political life as opinion polls continue to point to a Labor victory.

  • Symbion Says Primary Loses Legal Challenge Over Bid Friday, 23 Nov 2007 | 4:34 AM ET

    Australia's Symbion Health Ltd said on Friday Primary Health Care Ltd had lost a legal challenge against it over Symbion's proposed A$2.8 billion (US$2.4 billion) tie-up with Healthscope Ltd.