• 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.

  • Australian Gaming Firms Dive on Industry Shake-Up Thursday, 10 Apr 2008 | 10:11 PM ET

    Shares in Australian gaming firms Tabcorp and Tatts Group slumped on Friday, a day after an Australian state government stripped them of their duopoly in gaming machines, cutting revenues by up to half.

  • China May Seek Stake in BHP Billiton: Report Wednesday, 9 Apr 2008 | 12:57 PM ET

    Resource-hungry China may be planning to buy a more than 9 percent stake in BHP Billiton, the world's biggest miner, to gain influence over its proposed takeover of rival Rio Tinto, The Australian newspaper reported on Wednesday.

  • Australia February Trade Deficit Blows Out to Record Sunday, 6 Apr 2008 | 11:18 PM ET

    Australia's trade deficit blew out to a record in February as bad weather and supply bottlenecks dented exports of coal and iron ore, while solid business spending at home kept imports near all-time highs.

  • Australia's Consolidated Media Share Trade Halted Sunday, 6 Apr 2008 | 10:06 PM ET
    Lachlan Murdoch, son of News Corp.'s Rupert Murdoch, arrives with his wife, Sarah O'Hare, for the annual Allen and Co.'s media conference Wednesday, July 11, 2007, in Sun Valley, Idaho. (AP Photo/Douglas C. Pizac)

    Shares in Australia's Consolidated Media Holdings were placed on a trading halt on Monday as Lachlan Murdoch, son of media magnate Rupert, and Australian tycoon James Packer prepared to update investors on takeover plans.

  • ANZ Lifts Bad Debt Charges as Credit Crunch Bites Sunday, 6 Apr 2008 | 9:26 PM ET

    Australia and New Zealand Banking Group said on Monday it expected much higher bad debt provisions in the first-half of fiscal 2008, reflecting difficult conditions facing Australian firms amid the global credit crunch.

  • Australia's RBA Sees Demand Cooling as Sales Fall Thursday, 3 Apr 2008 | 10:42 PM ET

    Australia's top central banker said on Friday there were signs that domestic demand was cooling in a way that would help restrain inflation, suggesting he thought interest rates had risen enough for now.

  • Australia Central Bank Leaves Rates Unchanged Tuesday, 1 Apr 2008 | 12:51 AM ET

    Australia's central bank was still concerned that interest rates might not be high enough to restrain inflation when it hiked rates to a 12-year high earlier this month, minutes of the policy meeting showed on Tuesday.

  • Billionaire Lew Bids Up to $824 Million for Just Group Monday, 31 Mar 2008 | 12:45 AM ET

    Billionaire Australian investor Solomon Lew on Monday offered to buy clothing retailer Just Group, valuing it at up to $824 million and sending its shares up as much as 12%.