Tony Webber, managing director at Webber Quantitative Consulting, discusses Qantas following the release of the group's earnings and says the international business remains "poor".» Read More
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.
Australian hospital operator Healthscope formally launched a $2.3 billion bid for Symbion Health on Tuesday, backed by two private equity firms.
Private equity group Kohlberg Kravis Roberts said on Monday it had withdrawn from a consortium looking at bidding for Australian retailer Coles Group.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.
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.
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.
The Australian government will keep the country's wheat export monopoly but will hand the powers from the scandal-hit AWB to a new grower company by mid 2008, a government spokesman said on Tuesday.
Tony O'Reilly's Independent News and Media suffered a blow in its bid to take over Australia's APN News and Media after a key APN shareholder said it would vote against the offer.
Australia's Qantas Airways said its chief executive and other senior managers would keep their jobs despite the collapse of a $9 billion buyout bid for the airline. The failed buyout claimed two senior board members -- Chairman Margaret Jackson and Australia's richest man James Packer -- who confirmed they would retire before the end of the year.
Coles Group, Australia's second-largest supermarket retailer, on Thursday set a June 25 date for final bidding for the company as it reported a tiny 0.6% rise in third quarter sales.
A consortium that made a failed $9 billion bid for Australia's Qantas Airways said on Thursday it would not launch a fresh offer for the airline.
Macquarie Bank, Australia's top listed investment bank, said it raised $625 million from a sale of new shares to fund its international expansion.
A key indicator of wages in Australia rose by much less than expected last quarter, easing fears that a drum-tight labor market would stoke inflation and lead to higher interest rates.
Australian consumer confidence jumped to record highs in May, boosted by a heady mix of tax cuts, strong employment, low inflation and stable interest rates, a survey showed on Wednesday.
Macquarie Bank posted a 60% jump in 2006 profit, earning $1.2 billion and beating analysts' forecasts, boosted by strong deal flows and robust equity markets.
The auction process for Australia's second largest retailer, Coles Group , has kicked into gear, with a private-equity consortium led by Kohlberg Kravis Roberts the first group to start due diligence.
Australia's largest telecom Telstra said on Monday it would consider all its options if it received any takeover approaches.
Alinta, Australia's largest energy infrastructure firm, said it had recommended an improved offer from investment bank Babcock & Brown worth up to $6.74 billion, scuttling Macquarie Bank's rival bid.
Australian employment surged in April, driving the jobless rate to a 32-year trough and stoking concerns a super-tight labor market would eventually threaten higher inflation and interest rates.
National Australia Bank, the nation's top lender, beat forecasts with a 23% rise in first-half cash earnings on Thursday, on strong loan growth and rapid progress at its U.K. divisions.
Australia's Qantas Airways indicated on Wednesday it would not back a new takeover offer pitched at the same price as the failed $9 billion bid from a consortium including Macquarie Bank.