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Australia & New Zealand

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  • CANBERRA, Australia— Australia's biggest supermarket chain on Wednesday apologized and pulled down a website that has been widely criticized of commercializing the centenary of the country's Veterans' Day. ANZAC stands for the Australian and New Zealand Army Corps, which was part of a disastrous British-led ground invasion of Turkey's Gallipoli...

  • Australia's Fortescue under pressure as iron ore crashes Wednesday, 15 Apr 2015 | 3:28 AM ET

    *$9 bln debt load puts Fortescue under stress. *Glencore would eye Fortescue if cheap enough- sources. *Fortescue updates on Q1 output, costs on Thursday.

  • *PPS buys aluminium from Australia, India. SEOUL, April 15- South Korea's Public Procurement Service paid a premium of $223 per tonne in its latest aluminium tender, almost a third less than a month ago, highlighting an accelerating collapse in global premiums as supply swells. Asia has seen a particularly steep drop from record highs, due to its proximity to China,...

  • DIARY- Top Economic Events to April 24 Tuesday, 14 Apr 2015 | 8:01 PM ET

    WASHINGTON- Federal Reserve issues the Beige Book of economic condition- 1800 GMT. WASHINGTON- Levy Economics Institute of Bard College holds 24th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies in Washington. WASHINGTON- Federal Reserve Bank of St. Louis President James Bullard gives presentation on the U.S. economy and monetary...

  • NEW YORK, April 14- Crude prices rose on Tuesday after a surprise drop in expectations for U.S. shale oil production while the dollar fell and stocks edged lower with investors focused on U.S. corporate earnings and retail sales data. U.S. stocks were little changed as gains in banks JPMorgan and Wells Fargo were offset by a full-year earnings forecast downgrade...

  • *U.S. stock futures point to lower open on Wall Street. LONDON, April 14- Global stock markets edged down on Tuesday as investors worried about the impact of a strong dollar on U.S. company earnings and unease over Greece's debt crisis overshadowed news of a possible merger between two big European telecoms equipment firms. News that Finland's Nokia was in talks to...

  • LONDON, April 14- European share markets touched a 14- year high on Tuesday, supported by takeover talks between telecoms equipment firms Nokia and Alcatel Lucent, while a shifting global monetary policy outlook weighed on the euro. The talks between Finland's Nokia and its French rival Alcatel, which could create a group worth over 40 billion euros, came as a...

  • TOKYO— Global stocks were subdued on Tuesday after several indexes in Europe and Asia hit multi-year highs this week, while the price of oil pushed higher. MORE DEAL-MAKING: News of corporate deal-making continued with Nokia saying it was in talks to buy French networks company Alcatel-Lucent. Shares in Alcatel-Lucent, which has reported losses for almost a...

  • *LME tin breaks below $16,000 T for first time since June 2010. MELBOURNE, April 14- London copper prices snapped key support on Tuesday to fall to a four-week low as souring sentiment over China's economic growth sapped expectations for demand. People are now probably looking to see if Chinese authorities are going to take any more significant measures to...

  • The government announced this week that families could lose up to 15,000 Australian dollars per child per year in tax and child care benefits from Jan. 1, 2016, unless their children are vaccinated under a "no jab, no pay" policy. The crackdown comes as similar moves to limit vaccination waivers in the United States have proved to be deeply divisive.

  • *China copper premiums jump $10 to $75- Shmet. MELBOURNE, April 14- London copper prices steadied on Tuesday as investors bet that Beijing would take fresh measures to shore up its economy after surprisingly weak trade data. "The overall picture isn't particularly inspiring in China at the minute, so people are now probably looking to see if Chinese authorities...

  • *Fortescue to move to two-weeks on, one-week off roster. The slump in iron ore to 10- year lows is hammering profits at Fortescue and other producers, forcing deep cuts in spending and prompting a "thorough organisational review" of operations, Chief Executive Nev Power said in a statement. "While we would prefer not to have to change what has been a successful and...

  • DIARY- Top Economic Events to April 23 Monday, 13 Apr 2015 | 8:01 PM ET

    STOCKHOLM- Sweden's Riksbank Deputy Governor Cecilia Skingsley will participate in a seminar on pay formation that promotes the competitiveness of the manufacturing industry- 1135 GMT. WASHINGTON- Federal Reserve issues the Beige Book of economic condition- 1800 GMT. WASHINGTON- Levy Economics Institute of Bard College holds 24th Annual Hyman P. Minsky...

  • A global development financier's Silicon Valley foray Monday, 13 Apr 2015 | 12:00 PM ET

    SAN FRANCISCO, April 13- San Francisco- based startup Planet Labs, a company that aims to blanket the skies with low-cost satellites, has raised nearly $140 million from investors that include Russian billionaire Yuri Milner and SpaceX backer Draper Fisher Jurvetson. Now, the company has raised an additional $20 million from an unlikely contender: the venture...

  • CANBERRA, Australia— Australia's treasurer says the low iron ore price is shaving billions of dollars off government revenue forecasts, but he will not increase taxes to make up the shortfall. Treasurer Joe Hockey estimates that every $10 fall in the price of a metric ton of iron ore— Australia's most lucrative exports— cuts $2.5 billion in tax revenue a year for...

  • BEIJING— China's stock benchmark closed at a seven-year high Monday as hopes for economic stimulus rose. KEEPING SCORE: Germany's DAX shed 0.2 percent to 12,347.09 and France's CAC 40 was off just under 0.1 percent to 3,237.41. ASIA'S DAY: The Shanghai Composite Index rose 2.2 percent to 4,121.71 points, closing above 4,100 for the first time since March 11, 2008,...

  • Codelco, the Chilean state miner that produces about 8 percent of the world's copper, will review the cost reduction plan at its Salvador mine as it prepares to restart operations there after torrential rains shuttered the complex in March, said a source close to the state-run miner. Salvador produced copper at a cost of some $11,439 per tonne in the fourth...

  • *Australia, Indonesia fear Singapore hubs used to avoid tax. *Top two global miners had $50 bln 2013 sales in Singapore. SINGAPORE, April 12- The Singapore trading hubs of the world's largest commodity companies are coming under scrutiny from the governments of some resource-producing countries who say they suspect they are using units in the Southeast Asian...

  • *Soybeans hit lowest since Oct. 21. Corn and soybeans were slightly lower, anchored by ample domestic supplies, while huge crops from South America lowered demand for U.S. offerings on the export market. Soybeans hit their lowest since Oct. 21 during the trading day but closed well above session lows.

  • *Some models backlogged through June. SAN FRANCISCO/ PARIS, April 10- Customers preordering Apple Inc's smartwatch on Friday will have to wait at least a month for delivery, an early sign of strong demand for company chief Tim Cook's first new major product. Without knowing how many watches consumers have ordered, Wall Street analysts said it was too early to...