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Australia & New Zealand

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  • China's yuan jumped against the dollar in early trade on Wednesday to its highest since its 2005 revaluation after the central bank set a much higher reference rate for the Chinese currency.

  • Rio Tinto to Buy up to 34% of Ivanhoe Tuesday, 12 Jun 2007 | 11:35 PM ET

    Rio Tinto, the world's second-largest mining group, will increase its stake in Ivanhoe Mines once the Mongolian government approves Ivanhoe's Oyu Tolgoi project, a senior executive said on Tuesday.

  • Dollar Climbs to 2-Month High Against Euro Tuesday, 12 Jun 2007 | 5:00 PM ET

    The dollar climbed against the euro Tuesday to two-month highs as rising U.S. Treasury yields lured investors.

  • The New Zealand dollar tumbled from a 22-year high versus the U.S. dollar on Monday after selling by the Reserve Bank of New Zealand raised concerns about how much longer carry trades would continue.

  • New Zealand's competition regulator said on Friday it would not allow two suitors for The Warehouse Group to make takeover bids, sending shares in the retailer sliding as much as 8%.

  • Australian Dollar Soars to Fresh 17-Year High on Data Thursday, 7 Jun 2007 | 1:53 AM ET

    The Australian dollar rose to a fresh 17-year high on Thursday after the second straight month of stronger-than-expected domestic jobs data fuelled concerns the central bank might increase interest rates in the near term.

  • New Zealand's largest-listed retailer, The Warehouse, said on Thursday it has not had any takeover offers, denying reports Australia's Woolworths had made a $1.6 billion bid.

  • Australia Jobs Surge Again, Unemployment at New Low Wednesday, 6 Jun 2007 | 11:45 PM ET

    Australian employment surged way past all expectations for a second straight month in May, driving the jobless rate to 33-year lows and fuelling concerns the drum-tight labor market would eventually stoke inflation.

  • New Zealand's central bank raised interest rates on Thursday by a quarter of a point to 8%, the highest among industrialized countries, saying it was worried robust consumer demand would further fuel inflation.

  • Australia's Economic Growth Surges in First Quarter Tuesday, 5 Jun 2007 | 11:14 PM ET

    Australia's economy grew at its fastest pace in over three years last quarter as consumers spent freely and business investment surged, boding well for further growth in coming quarters.

  • Australia Trade Less of a Drag as Economy Climbs Tuesday, 5 Jun 2007 | 12:10 AM ET

    Australia's trade deficit was less of a drag on the economy than first thought last quarter, adding to a raft of evidence that growth was picking up sharply and underlining the risk of higher interest rates in the longer run.

  • News Corp. to Return to Aussie Benchmark Share Index Thursday, 31 May 2007 | 9:31 PM ET

    Rupert Murdoch's News Corp. will return to Australia's benchmark S&P/ASX 200 Index from the close of trade on June 15, 2007, global index provider Standard & Poor's said in a statement on Friday.

  • Morgan Stanley to Buy Australia's Investa Thursday, 31 May 2007 | 1:21 AM ET

    Morgan Stanley's real estate unit agreed to buy Australia's Investa Properties for $3.9 billion on Thursday, the nation's third-largest property trust takeover.

  • Bain Pulls Out of Group Bidding for Coles Wednesday, 30 May 2007 | 11:03 PM ET

    Private equity firm Bain has pulled out of a consortium looking at buying Australia's Coles Group, a source said on Thursday, raising questions about the financial firepower of the remaining three members of the group.

  • Australian Shoppers Pause for Breath in April Tuesday, 29 May 2007 | 10:55 PM ET

    Australian retail sales expanded at their slowest pace in almost a year in April as shoppers pinched pennies after three months of heavy spending, though analysts argued the outlook for consumption remained strong.

  • Coles Shares Fall After KKR Exits Bid Group Monday, 28 May 2007 | 10:32 PM ET

    Shares in Australia's Coles Group fell nearly 4% on Tuesday after private equity group Kohlberg Kravis Roberts pulled out of a consortium planning to bid for the retailer.

  • Healthscope Launches $2.3 Billion Bid for Symbion Monday, 28 May 2007 | 8:52 PM ET

    Australian hospital operator Healthscope formally launched a $2.3 billion bid for Symbion Health on Tuesday, backed by two private equity firms.

  • KKR, CVC Pull Out of Coles Bid Consortium Monday, 28 May 2007 | 7:07 AM ET

    Private equity group Kohlberg Kravis Roberts said on Monday it had withdrawn from a consortium looking at bidding for Australian retailer Coles Group.  CVC, another private equity group, said earlier that it had pulled out of the consortium after conducting due diligence.

  • Singapore's Olam Raises Bid for Queensland Cotton Sunday, 27 May 2007 | 11:46 PM ET

    Commodities trader Olam International raised its takeover offer for Australia's Queensland Cotton to as much as A$166.5 million, beating a A$150 million rival bid from Louis Dreyfus Commodities.

  • APN Shareholders Reject Independent $2.5 Billion Bid Thursday, 24 May 2007 | 11:50 PM ET

    Shareholders in Australia's APN News and Media rejected $2.5 billion takeover offer from Tony O'Reilly's Independent News and Media on Friday.