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

    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

    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.

  • Australia's PBL Is Near US Gaming Deal Tuesday, 20 Nov 2007 | 8:06 PM ET

    Australia's Publishing & Broadcasting said it was close to agreeing a major North American gaming acquisition, and was still considering two other deals.

  • Australia's AWB Year Profit Down 53% on Drought Tuesday, 20 Nov 2007 | 7:49 PM ET

    AWB, Australia's embattled main wheat exporter, reported a 53 percent fall in full-year net profit on Wednesday, hit by a severe drought, but said the outlook for agribusiness in Australian was positive.

  • Steel Lobby to Call for EU to Block Rio/BHP Merger Tuesday, 20 Nov 2007 | 6:33 AM ET

    Eurofer, the lobby group for the European steel industry, said on Tuesday it will ask the European Commission to block BHP Billiton's plans to buy rival Rio Tinto due to competition concerns.

  • James Hardie Posts 32% Fall in Second-Quarter Profit Sunday, 18 Nov 2007 | 7:37 PM ET

    Building materials maker James Hardie Industries reported a 32 percent fall in second-quarter profit, hit by a drop in home building in the United States, and said it was comfortable with the bottom end of analysts' full-year forecasts.

  • BHP May Consider Taking Offer to Rio's Shareholders Sunday, 18 Nov 2007 | 2:01 PM ET

    Mining giant BHP Billiton, whose multi-million-dollar takeover plan has been rejected by Rio Tinto's management, may consider taking an offer directly to Rio's shareholders in the future, BHP's chief said on Saturday.

  • Fortescue Says No Equity Deal With China Firm Friday, 16 Nov 2007 | 12:38 AM ET

    Australian iron ore prospector Fortescue Metals Group on Friday denied media speculation a Chinese company would take a stake in it, sending its shares down as much as 3.9 percent.

  • CNOOC Eyes Shell's Australian Oil Stake: Reports Wednesday, 14 Nov 2007 | 10:05 PM ET

    China National Offshore Oil Corp has been offered Royal Dutch Shell's oil business in Australia's North West Shelf oil and gas project, The Australian newspaper reported on Thursday. 

  • Woodside Petroleum Cuts 2008 Output Forecast Wednesday, 14 Nov 2007 | 9:20 PM ET

    Australian oil and gas producer Woodside Petroleum cut its 2008 production forecast by up to 20 percent on Thursday, citing recent asset sales and slow start-ups at new projects, driving its shares down as much as 5 percent.

  • Qantas Plans to Buy Up to 188 New Aircraft Tuesday, 13 Nov 2007 | 11:20 PM ET
    Qantas passenger jets parked at their terminal at Sydney Airport.

    Qantas Airways, Australia's largest airline, on Wednesday agreed to buy up to 188 new narrow-body planes worth more than $12 billion at list prices to defend its domestic routes and expand into Asia.

  • Palmary Raises Offer for Consolidated to $964 Million Tuesday, 13 Nov 2007 | 9:05 PM ET

    Palmary Enterprises has upped its offer for Australian manganese miner Consolidated Minerals to $964 million, in its latest bid to win a long-running takeover battle.

  • Macquarie's Profit Forecast, Shares Fall on Outlook Monday, 12 Nov 2007 | 7:49 PM ET

    Macquarie Group, Australia's biggest investment bank, reported a 26 percent rise in second-quarter profit, helped by strong growth in Asia and takeover activity, but its shares fell 5 percent on a cautious outlook.

  • Australia Central Bank Raises Inflation Forecasts Sunday, 11 Nov 2007 | 7:57 PM ET

    Australia's central bank on Monday raised its forecasts for underlying inflation to above  its 2 to 3 percent comfort zone, strongly suggesting that  further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy

  • SP Ausnet Plans to Raise $2.78 Billion for Alinta Buy Thursday, 8 Nov 2007 | 11:54 PM ET

    Australian infrastructure firm SP Ausnet plans to raise about $2.7 billion in an institutional share placement to help fund its purchase of $7.7 billion of assets from energy firm Alinta.