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Australia & New Zealand

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  • *Japan shut for holiday, China trade data in focus. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, extending last week's 1.1 percent drop. At an International Monetary Fund and World Bank meeting in Washington on Saturday, IMF member countries called for bold action to bolster the global economic recovery and flagged Europe as a...

  • *Copper not far from 5- month lows hit in early Oct. LONDON, Oct 10- Copper prices fell on Friday, reversing gains from the previous session, pressured by a stronger dollar and growing concerns about the outlook for economic growth. Global shares tumbled to six-month lows, hit by a raft of weak indicators from Europe at a time when other big economies, including China,...

  • *Copper down 9 percent so far this year. LONDON, Oct 10- Copper prices fell on Friday, reversing gains from the previous session, pressured by a stronger dollar and growing concerns about the outlook for economic growth. Three-month London Metal Exchange copper was at $6,632 a tonne at 0958 GMT, down 1.3 percent and not far from a five-month low of $6,600 a tonne hit on...

  • LONDON, Oct 10- The dollar inched higher on Friday but was still on course to end a record-long rally with its first weekly fall in three months after Federal Reserve policymakers warned about the impact of the greenback's strength. A further tumble in oil prices to a four-year low below $90 hit Norway's crown, which sank to its weakest in three weeks against the...

  • *Australia's coal miners defy supply glut. Glencore Plc, one of Australia's biggest miners, estimates up to a third of Australia's coal sector is running at a loss, yet collieries are flooding countries such as China and Japan with million of tonnes of coking coal used to make steel and thermal coal to generate power. Many companies were facing a balancing act on...

  • Top finance officials grapple with weak growth Friday, 10 Oct 2014 | 3:52 AM ET

    Finance ministers and central bank presidents of the Group of 20 nations, which include traditional economic powers such as the United States, Japan and Germany, and emerging economies such as Russia, China and India, were wrapping up two days of talks Friday with a joint statement of goals and a news conference expected in the early afternoon.

  • SYDNEY, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd is being held in custody in Australia on Friday after being extradited from Hong Kong to face more than 100 insider trading charges linked to company takeovers. Hui Xiao, also known as Steven Xiao, is facing 104 charges of trading on inside information linked to Hanlong's 2011 takeover...

  • SINGAPORE, Oct 10- Brent crude futures tumbled nearly $2 to below $89 a barrel on Friday, trading at their weakest since 2010, as rising supply and a weakening global economic outlook stretched a months-long slump in oil prices. U.S. crude also slid by almost $2 to hit its lowest since 2012, ratcheting up pressure on OPEC to slash output to rescue prices in the face...

  • MELBOURNE, Oct 10- Australia must hold urgent talks with China to exempt coal producers from new tariffs in a free trade agreement due to be completed this year, an industry body said, following Beijing's move to reintroduce coal tariffs after nearly a decade. The tariffs would hit Australian producers hardest as its main coal export rival, Indonesia, is exempt...

  • SINGAPORE, Oct 10- Brent crude futures tumbled by more than a dollar to below $89 a barrel on Friday to trade near the weakest since 2010 as rising supply and a weakening global economic outlook stretched a months-long slump in oil prices. U.S. crude also slid by more than a dollar to trade near its lowest since 2012, reached just the session before, ratcheting up...

  • DIARY - Top Economic Events to Oct 23 Thursday, 9 Oct 2014 | 8:01 PM ET

    NEW YORK- Federal Reserve Bank of Philadelphia President Charles Plosser speaks on " Monetary Policy and Communications" before the Society of American Business Editors and Writers annual fall conference in New York- 1300 GMT. WASHINGTON- 2014 IIF Annual Membership Meeting. Treasury Deputy Assistant Secretary Mark Sobel, Bank of Mexico Deputy Governor...

  • MELBOURNE, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd was extradited to Australia from Hong Kong and arrived on Friday to face insider trading charges, Australia's securities watchdog said. Hui Xiao, also known as Steven Xiao, is facing allegations of trading on inside information linked to Hanlong's 2011 takeover bids for...

  • The decision by Beijing to levy a duty of 6 percent on thermal coal and 3 percent on coking coal imports from Oct. 15 certainly is yet another blow to Australia's already beleaguered coal miners. They will suffer disproportionately as the tariffs won't affect shipments from rival Indonesia, given it enjoys a free-trade agreement with China through being part...

  • *Aurubis hikes 2015 copper term premium $5 to $110/ T. LONDON, Oct 9- Copper and other base metals rebounded on Thursday after U.S. central bank authorities signalled they would not rush to boost interest rates, extending a period of cheap capital for industry and investors. "It was a surprise, definitely everyone thought the dollar strength would go in one direction,"...

  • *Aurubis hikes 2015 copper term premium $5 to $110/ T. LONDON, Oct 9- Copper and other base metals rebounded on Thursday after U.S. central bank authorities signalled they would not rush to boost interest rates, extending a period of cheap capital for industry and investors. "It was a surprise, definitely everyone thought the dollar strength would go in one direction,"...

  • Australian opera company bans 'Carmen' for smoking Thursday, 9 Oct 2014 | 4:39 AM ET

    CANBERRA, Australia— An Australian opera company is being criticized for banning as part of a sponsorship deal performances of "Carmen" for two years because the 140- year-old French opera depicts smoking. Prime Minister Tony Abbott on Thursday condemned the deal as "political correctness gone crazy." Healthway chairwoman Rosanna Capolingua said her board...

  • Asian stocks rebound after US gains Thursday, 9 Oct 2014 | 12:03 AM ET

    BANGKOK— Asian stocks rebounded Thursday after Wall Street gained and the U.S. KEEPING SCORE: Tokyo's Nikkei 225 added 0.5 percent to 15,666.13 after losing 1.2 percent the previous day. Hong Kong's Hang Seng was up 0.9 percent at 23,468.41 points while Sydney, Singapore and Taiwan also gained.

  • DIARY- Top Economic Events to Oct 22 Wednesday, 8 Oct 2014 | 8:01 PM ET

    ST. LOUIS- Federal Reserve Bank of St. Louis President James Bullard gives welcome remarks before the 39th Annual Federal Reserve Bank of St. Louis Fall Conference- 1345 GMT. WASHINGTON- Peterson Institute/ Moody Investors Service host panel on "The EU financial system on the eve of the single supervisory mechanism." WASHINGTON- 2014 Bretton Woods Committee...

  • *China's main share index hits 20- month high. LONDON, Oct 8- Copper fell on Wednesday, pressured by concerns about economic growth in China and Europe, although falls were capped by some short-covering after dipping to five-month lows last week. Chinese buyers returned to the market on Wednesday after a week-long break, but several factors continue to weigh on...

  • METALS-Copper gains capped by economic growth worries Wednesday, 8 Oct 2014 | 9:36 AM ET

    *China's main share index hits 20- month high. LONDON, Oct 8- Copper edged higher on Wednesday on a short-covering rally after an uptick in Chinese equities, though the metal remained not far off five-month lows on longer-term concerns about economic growth in China and Europe. Chinese buyers returned to the market on Wednesday after a week-long break, but...