Business News Sydney

  • "Origin knows affordability is the most pressing issue for our customers and in response we are playing our part to put downward pressure on energy prices, Frank Calabria, chief executive officer and managing director of Origin, said. The Sydney- based company said it expects 2020 underlying earnings before tax at its energy market business in the range of A...

  • SYDNEY, Aug 21- Australian casino giant Crown Resorts Ltd said on Wednesday its annual profit fell on less gambling by Chinese tourists, and it again denied media reports alleging the company flouted visa rules that have triggered three regulatory probes. A spending slowdown in China has slashed turnover, while the allegations of inappropriate visa...

  • *Announces 78 cents a share dividend, or $3.9 billion. *Profit hits $9.12 bln, just under Vuma consensus of $9.42 bln. It's been a great year for the company, they have made a lot of money, "said Brenton Saunders of Pendal Group in Sydney, a fund management firm that holds shares in the miner.

  • *Hong Kong tycoon Li urges love, tolerance amid protests. HONG KONG, Aug 16- The boss of Hong Kong carrier Cathay Pacific Airways quit on Friday, the highest-profile corporate casualty of unrest roiling the former British colony, after Beijing targeted the airline over staff involvement in mass protests. Demonstrators say they are fighting the erosion of the "one...

  • The plunge began immediately after an Aug. 1 announcement from Washington that fresh tariffs on Chinese imports would include clothes and shoes, sapping wool-demand from factories in China that churn out everything from street fashions to sports gear. Prices have also been pressured in the country's two other big selling centres of Sydney and Melbourne.

  • Aug 15- General Electric shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems. The report echoes the assertions of some of Wall Street's more skeptical analysts, who have long raised alarms about GE's low cash flow, frequent...

  • *MSCI Asia ex- Japan erases early losses. *China yuan fixing comes in stronger than expected. MSCI's broadest index of Asia-Pacific shares outside Japan shook off early losses to eke out a 0.02% gain.

  • *New Zealand, India, Thailand, Philippines cut rates this week. SYDNEY, Aug 9- Central banks in Asia, Australia and New Zealand have joined a brewing global currency war by slashing interest rates and pledging to keep them down, worrying markets over the risk of a chase to the bottom. "A higher exchange rate would be hurting many, many sectors across our economy," Reserve...

  • *Market weighs Midwest weather, awaits USDA Aug. 12 data. CHICAGO, Aug 7- U.S. corn and soybean futures dipped on Wednesday as traders assessed rain forecasts for the U.S. Grain futures markets "are basically responding to the macros of the day, with the currencies weak against the dollar and the stock market down," said Charlie Sernatinger, global head of grain futures...

  • PARIS/ SYDNEY, Aug 7- U.S. corn and soybean futures edged higher on Wednesday as traders assessed rain forecasts for the Midwest after a recent dry spell, while looking ahead to a government report expected to revise acreage estimates following rain-hit planting in spring. "Some U.S. corn regions are returning to a drier weather pattern over the next week or so," said...

  • *Asset managers increasingly outsource their trading. LONDON, Aug 6- It's 10 o'clock at night, and Benjamin Arnold's day is just beginning. The former Goldman Sachs trader is gearing up to trade equities in Asia from his small office thousands of miles away in Park City, Utah.

  • LAUNCESTON, Australia, Aug 5- If another sign was needed that Australia's energy policy is dysfunctional, the government provided it in the form of launching a parliamentary inquiry to consider nuclear power. Energy Minister Angus Taylor last week requested a parliamentary committee examine requirements for developing a nuclear power industry in...

  • *MSCI ex- Japan skids for a seventh day in a row. *Currency wars feared as China's yuan breaks past 7 per dlr. The pan-region Euro Stoxx 50 futures lost 1.1% in Asian trades while those of London's FTSE slipped over 1% and futures for Germany's DAX were down 1.25%.

  • LAUNCESTON, Australia, Aug 5- If another sign was needed that Australia's energy policy is dysfunctional, the government provided it in the form of launching a parliamentary inquiry to consider nuclear power. Energy Minister Angus Taylor last week requested a parliamentary committee examine requirements for developing a nuclear power industry in...

  • *MSCI ex- Japan skids for a seventh day in a row. *Currency wars feared as China's yuan breaks past 7 per dlr. China vowed on Friday to fight back.

  • SINGAPORE, Aug 5- China's yuan tumbled to the weaker side of the key 7- per-dollar threshold on Monday, hitting its weakest since 2008, against the backdrop of a sharp escalation in the protracted U.S.-Sino trade war. China vowed on Friday to fight back. The impact of the U.S.- China trade is turning out to be very big.

  • Def Sec says China undermining Indo-Pacific. SYDNEY, Aug 4- China is destabilising the Indo-Pacific, U.S. China's increasing assertiveness, especially in the energy-rich South China Sea, has raised concerns within the region and the United States is challenging Chinese maritime hegemony and seeking stronger ties with nations pushing back against Beijing.

  • Def Sec says China undermining Indo-Pacific. SYDNEY, Aug 4- China is destabilizing the Indo-Pacific, U.S. China's increasing assertiveness, especially in the energy-rich South China Sea, has raised concerns within the region and the United States is challenging Chinese maritime hegemony and seeking stronger ties with nations pushing back against Beijing.

  • Def Sec says China undermining Indo-Pacific. SYDNEY, Aug 4- The United States says China is destabilising the Indo-Pacific, U.S. China's increasing assertiveness, especially in the energy-rich South China Sea, has raised concerns within the region and the United States is challenging Chinese maritime hegemony and seeking stronger ties with nations pushing...

  • Def Sec says China undermining Indo-Pacific. SYDNEY, Aug 4- The United States says China is destabilizing the Indo-Pacific, U.S. China's increasing assertiveness, especially in the energy-rich South China Sea, has raised concerns within the region and the United States is challenging Chinese maritime hegemony and seeking stronger ties with nations pushing...