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Australia & New Zealand

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  • By Elzio Barreto and Sumeet Chatterjee HONG KONG/ MUMBAI, May 7- As investors tap into rising Asia Pacific stock markets to sell assets in waves of block trades, Goldman Sachs' dominance of such deals has already brought more in fees in 2015 than in the previous two years combined. Goldman has cornered more than half of Asia Pacific's 2015 block deals, booking $112...

  • By Silvia Antonioli and Morag MacKinnon. LONDON/ PERTH, May 6- BHP shareholders overwhelmingly approved the spin-off of new mining and metals group South32, clearing the way for a listing this month that will test investor sentiment towards the battered mining sector. More than 98 percent of votes cast at meetings in Perth and London on Wednesday were in favour...

  • UPDATE 1-BHP spin-off South32 sees M&A opportunities Wednesday, 6 May 2015 | 8:13 AM ET

    BHP shareholders in Australia and Britain voting by proxy overwhelmingly approved the spin-off, which includes some of the global miner's smaller assets, at meetings in Perth and London on Wednesday, paving the way for a listing on May 18. Named after the 32nd parallel south line of latitude that links its business centres in Perth and Johannesburg, South32...

  • SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • BHP spin-off South32 sees M&A opportunities Wednesday, 6 May 2015 | 4:30 AM ET

    BHP shareholders are expected to approve the spin-off, which includes some of the global miner's smaller assets, at meetings in Perth and London on Wednesday, paving the way toward a listing on May 18. Named after the 32nd parallel south line of latitude that links its business centres in Perth and Johannesburg, South32 will produce alumina, aluminium, coal,...

  • *Copper looks overbought, correction seen at $6,500- 6,600- Triland. MELBOURNE, May 6- London copper slipped on Wednesday from nearly 5- month highs hit the session before after weak U.S. data revived concern about global economic growth, although expectations of policy support in China and the United States cushioned losses. A widening U.S. trade deficit may help...

  • SINGAPORE/ MELBOURNE, May 6- Rio Tinto, the most profitable iron ore producer, is in a strong position to keep its mines running at full tilt, even as rivals BHP Billiton and Brazil's Vale apply the brakes in a market suffering a supply glut. Despite a plunge in ore prices, Rio Tinto is not expected to face pressure from shareholders at its annual general meeting in...

  • Australian banks' golden run over as growth plateaus Wednesday, 6 May 2015 | 1:10 AM ET

    SYDNEY, May 6- A golden era of record profits and lush dividends is coming to an end for Australia's major banks, with disappointing results this week revealing a new normal of more modest earnings growth due to tougher capital requirements and a sluggish economy. Having doubled annual profits over the past five years, Australia's banks are now set to post low...

  • WELLINGTON, New Zealand— Internet file-storage company Mega Ltd., launched in 2013 by indicted entrepreneur Kim Dotcom, has failed in a bid to list on New Zealand's stock market. But TRS Investments, the intended vehicle for the listing, filed a notice with the market Wednesday saying Mega had failed to get approval from its shareholders for the takeover.

  • *Copper looks overbought, correction seen at $6,400- 6,500- Triland. MELBOURNE, May 6- London copper slipped on Wednesday from 5-1/ 2- month highs hit the session before after weak U.S. data revived concern about global economic growth, although expectations of policy support in China and the United States cushioned losses. A widening U.S. trade deficit may help...

  • DIARY- Top Economic Events to May 18 Tuesday, 5 May 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve Chair Janet Yellen and International Monetary Fund Managing Director Christine Lagarde participate in " Finance and Society" conversation before the Institute for New Economic Thinking Conference on Finance and Society hosted by the IMF- 1315 GMT. WASHINGTON- Federal Reserve Bank of Kansas City President Esther George...

  • *Euro zone economy stronger than expected- EU Commission. LONDON, May 5- Zinc hit its highest price in eight months on Tuesday and copper its loftiest since mid-December thanks to a combination of concern about supply shortfalls and optimism over the global economy. Base metals seem to be following the herd, "said Richard Fu, director of Asian commodities trading...

  • All the metals on the London Metal Exchange saw a wave of buying, which pushed nickel to a six-week high, as the London market reopened after a UK public holiday on Monday. Base metals seem to be following the herd, "said Richard Fu, director of Asian Commodities Trading for Societe Generale Newedge in London. "The fundamentals in zinc are good," said Nic Brown, head of...

  • HONG KONG, May 5- Asian stock markets retreated on Tuesday and the Australian dollar stumbled after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China. Financial spreadbetters expected European markets to open mixed, with Britain's FTSE 100 likely to open 0.7 percent...

  • SINGAPORE, May 5- The Australian dollar rebounded sharply after slipping initially as the Reserve Bank of Australia cut interest rates, as market players wondered whether the RBA's easing cycle may be over for now. Australia's central bank cut its cash rate a quarter point to an all-time low of 2.0 percent on Tuesday, aiming to spur a sluggish domestic economy...

  • SYDNEY, May 5- Australia's central bank cut interest rates for the second time this year on Tuesday, seeking to buttress the economy against sliding mining investment while heading off a harmful increase in the local dollar. The currency did initially drop after the Reserve Bank of Australia trimmed its cash rate a quarter point to a fresh all time trough of 2.0...

  • HONG KONG, May 5- Asian stock markets retreated on Tuesday and the Australian dollar briefly fell after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China. "Cautious and uncertain households mean rate cuts are less effective today," said Jasmin Argyrou, senior investment...

  • SYDNEY, May 5- Australia's central bank cut interest rates for the second time this year on Tuesday, seeking to buttress the economy against sliding mining investment while heading off a harmful increase in the local dollar. The currency did initially drop after the Reserve Bank of Australia trimmed its cash rate a quarter point to a fresh all time trough of 2.0...

  • Australia cuts interest rate to record low 2 percent Tuesday, 5 May 2015 | 12:33 AM ET

    SYDNEY— Australia's central bank cut its benchmark interest rate to a record low of 2 percent on Tuesday in a bid to jolt the nation's economy which is weighed by falling commodity prices and weakening demand from China. The Reserve Bank of Australia's quarter percentage point rate cut was the first in three months. But with the economy weakening in China, which...

  • *Saudis consider halt to Yemen bombing to let humanitarian aid in. SINGAPORE, May 5- Brent crude oil futures slipped towards $66 a barrel on Tuesday, falling from a 2015 high, as Saudi Arabia considered halting bombing in Yemen to allow the delivery of aid, which eased concerns about oil supply from the Middle East. "The stronger U.S. dollar and also news out of Saudi...