Business News Sydney

  • ZHENGZHOU, China, May 21- Song Jingyi, a paralegal from a family of modest means in the central Chinese region of Henan, had long dreamed of buying a home of her own in Zhengzhou, the sprawling provincial capital of 10 million where she attended college. Zhengzhou's property market exploded in 2016, spurred on by Chinese government efforts to boost home ownership...

  • SYDNEY, May 20- Australia's conservative coalition secured an outright parliamentary majority on Monday following a shock election victory, allowing Prime Minister Scott Morrison to progress his legislative agenda without the support of independents. The Australian Electoral Commission on Monday said Morrison's coalition has won 76 seats in...

  • LAUNCESTON, Australia, May 19- While Australia's opposition Labor Party is the obvious loser from the weekend election, the anti-coal environmental lobby suffered probably a bigger blow and will need to re-think its strategy to end mining of the polluting fuel. Australia vies with Indonesia for the title of the world's largest coal exporter, and is dominant in...

  • MELBOURNE/ SYDNEY, May 19- Australian Prime Minister Scott Morrison thanked his fellow Pentecostal churchgoers on Sunday after a miraculous election victory that defied years of unfavorable opinion polls and bruised a Labor opposition that had been widely expected to win. Morrison's Liberal-led conservative coalition has won or is leading in 76 seats, the...

  • SYDNEY, May 19- Australian Prime Minister Scott Morrison may have won more than just another three years in office for his conservative coalition government. By winning what was seen as an unwinnable election, the unexpected leader has cemented his authority over the Liberal Party, giving him the muscle to end a decade of instability that has seen a revolving...

  • *Morrison govt polls strongly in Queensland state. SYDNEY/ MELBOURNE, May 19- Australia's Liberal-led conservative government was headed for a remarkable win at the national election early on Sunday after uncovering a narrow path to victory that twisted through urban fringes and rural townships. "I have always believed in miracles," Morrison told cheering...

  • *Morrison govt polls strongly in Queensland state. SYDNEY/ MELBOURNE, May 19- Australia's Liberal-led conservative government was headed for a remarkable win at the national election early on Sunday after uncovering a narrow path to victory that twisted through urban fringes and rural townships. "I have always believed in miracles," Morrison told cheering...

  • *Morrison govt polls strongly in Queensland state. MELBOURNE/ SYDNEY, May 19- Australia's Liberal-led conservative government was headed for a remarkable victory at the national election early on Sunday after uncovering a narrow path to victory that twisted through urban fringes and rural townships. "I have always believed in miracles," Morrison told...

  • *Govt polls strongly in Queensland state and city fringes. *Former PM concedes defeat in his Sydney seat. SYDNEY, May 18- Australia's two major political parties are locked in a tight contest with more than one-third of votes counted in the national election on Saturday, running counter to pre-election opinion polls that had predicted a change in government.

  • SYDNEY, May 18- Early counting in Australia's national election showed a small swing to the governing Liberal-led conservative coalition, running counter to pre-election opinion polls and setting the stage for a tight contest on Saturday night. The Scott Morrison-led government is polling strongly in Queensland and Tasmania, according to AEC figures,...

  • *Soft U.S., China economic data underscore slowdown. TOKYO, May 16- Asian shares struggled to find their footing on Thursday as confidence was shaken after the U.S. government hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-U.S. trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25%,...

  • *Soft U.S., China economic data underscore slowdown. TOKYO, May 16- Asian shares fell on Thursday after the United States hit Chinese telecoms giant Huawei with severe sanctions, threatening to further strain Sino-U.S. trade ties. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.2%, hovering not far off its lowest since late January.

  • *Forex market shows little reaction to China data. President Donald Trump on Tuesday insisted that trade talks with China had not collapsed. "Investors will continue to monitor key barometer currency pairs," said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.

  • *Doubts about economics of Adani mine project in Australia. *China, Japan thermal coal imports from Australia in decline. Final approval of the Carmichael coal mine in Queensland, owned by India's Adani Enterprises, should come in "a matter of weeks, not months" following nearly a decade on the drawing board, the company's mining chief executive, Lucas Dow, told...

  • *OPEC supply cuts continue to bolster oil markets. TOKYO, May 10- Oil prices rose more than 1 percent on Friday amid renewed optimism that a trade deal could be struck between Washington and Beijing, calming fears that a protracted tariff war would harm global economic growth. Brent crude futures were at $71.11 a barrel at 0217 GMT, up 72 cents, or just over 1 percent,...

  • SYDNEY- Reserve Bank of Australia issues statement on monetary policy- 0130 GMT. WARSAW- National Bank of Poland holds monetary policy council meeting. BUDAPEST- Hungarian Central Bank to publish the minutes of its April 2019 rate-setting meeting- 1200 GMT.

  • SYDNEY, May 9- It's Thursday night training at Father Dave Smith's boxing academy, opposite the Anglican church in inner-west Sydney he has led for almost 30 years, and he's working off some frustration ahead of the May 18 federal election. On his mind is Australia's treatment of refugees and its system of offshore processing centers, whereby asylum seekers...

  • A London protest by Uber drivers, organized by the United Private Hire Drivers Branch of the Independent Workers Union of Great Britain.

    Ride-hailing drivers are protesting low wages as Uber prepares to follow Lyft on to the public market. Drivers have been saying for years that the services pay too little and unfairly avoid offering additional benefits by classifying them as contractors instead of full-time employees. Both Uber and Lyft have offered rewards to their most active and long-standing drivers as part of their IPOs.

  • *Climate change top threat to Australia's interests- poll. *Issue divides Australia's political parties ahead of May 18 vote. Climate change has opened up a divide between Australia's major parties ahead of the May 18 election, which polls suggest the government will lose, but in the Pacific the issue is an existential security problem as rising water levels are...

  • WEDNESDAY, MAY 8 BANGKOK- Bank of Thailand monetary policy committee meeting. ZAGREB- Croatia National Bank holds monetary policy meeting. MANILA- Philippines Central Bank holds monetary policy meeting.