Business News Sydney

  • *Blackmores says it is reviewing its operations in China. SYDNEY, Feb 19- Australian vitamin maker Blackmores Ltd cautioned that weak sales in China, its biggest export market, will drag on its net profit in second half of the year, driving down its shares the most since the company listed three decades ago. Blackmores said it was reviewing its operations in China,...

  • USA, New York City, Manhattan, young woman listening music with cell phone and earphones on the street

    Asia Pacific is the world's millennial hub, but these five cities are where you want to live.

  • Corn was little changed and soybeans eased as traders waited to see if U.S.- China trade talks would show the two sides moving to end their spat. As of 1:02 p.m. CST, Chicago Board of Trade March wheat was up 3-1/ 4 cents at $5.23-1/ 4 per bushel after reaching $5.24, the contract's highest since Feb. 7. Treasury Secretary Steven Mnuchin said on Wednesday trade talks...

  • SYDNEY, Feb 8- National Australia Bank Ltd began a global hunt for a new CEO and chairman on Friday after the incumbents quit in the wake of a misconduct inquiry, although most analysts tip a Sydney- based ex-politician to become the new chief executive. The CEO of Australia's fourth-largest lender, Andrew Thorburn, and Chairman Ken Henry resigned on Thursday days...

  • CHICAGO, Feb 7- U.S. soybean futures fell for the first time in five sessions on Thursday on new concerns that the U.S.- China trade war may stretch beyond a March 1 deal deadline, with the two countries' leaders unlikely to meet during upcoming talks. Earlier on Thursday, White House adviser Larry Kudlow said in an interview on Fox Business Network that there was a...

  • LONDON, Feb 5- The Swiss franc fell broadly across the board on Tuesday as hopes for progress in the U.S.- China trade dispute fueled a recovery in investors' appetite for risk taking that weighed on safe-haven currencies. "With the dollar/Swiss franc breaking through parity, some stops seem to have triggered in a broadly risk-on market," said Kamal Sharma,...

  • LONDON, Feb 5- Oil prices edged up on Tuesday, buoyed by expectations of tightening global supply due to U.S. sanctions on Venezuela and production cuts led by OPEC. Analysts said U.S. sanctions on Venezuela had focused market attention on tighter global supplies. The sanctions will sharply limit oil transactions between Venezuela and other countries and are...

  • TOKYO, Feb 5- The dollar held on to recent gains against its major peers on Tuesday, supported by a recovery in investors' risk appetite, which gave an overnight boost to U.S. yields. The Australian dollar rose, reversing earlier losses, after the Reserve Bank of Australia held rates at record lows at its first meeting of the year but sounded less dovish than expected.

  • *Reserve Bank of Australia expected to remain on hold. TOKYO, Feb 5- The dollar held on to recent gains against its peers on Tuesday, supported by a recovery in investor risk appetite, which gave an overnight boost to U.S. yields, while the Australian dollar dipped on dismal retail sales data. "The overly pessimistic view on developed economies and the overly dovish...

  • SYDNEY, Feb 5- Australia and New Zealand Banking Group and the local units of Citigroup and Deutsche Bank cannot properly respond to criminal cartel charges because they are still waiting for the prosecutor to detail its full case, a barrister for Citi told a packed Sydney courtroom on Tuesday. Australian authorities filed criminal charges in June against the...

  • SYDNEY, Feb 5- Australia and New Zealand Banking Group and the local units of Citigroup and Deutsche Bank cannot properly respond to criminal cartel charges because they are still waiting for the prosecutor to detail its full case, a barrister for Citi told a packed Sydney courtroom on Tuesday. Australian authorities filed criminal charges in June against the...

  • *Royal Commission revealed widespread financial wrongdoing. CANBERRA, Feb 4- Australia's corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice. The government-appointed inquiry known as a Royal Commission also...

  • A photo taken in Melbourne on April 23, 2018 show placards outside the royal commission set up in February to investigate misconduct in the banking sector.

    Australia's corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector designed to combat the excessive greed and unethical practices that have engulfed some of the country's biggest financial institutions.

  • *Housing, China slowdown, Fed challenging RBA optimism. SYDNEY, Feb 4- Australia's central bank holds its first policy meeting of the year facing a world re-shaped, and not for the better. "It is going to be a very important week for investment markets in Australia," said Matthew Sherwood, head of investment strategy for Perpetual Investments.

  • SYDNEY, AUSTRALIA - JANUARY 19: A young woman lays in the sun at Bondi Beach on January 19, 2019 in Sydney, Australia.

    Power outages hit around 45,000 homes across Sydney's upmarket eastern suburbs on Thursday as a forecast 40 degrees Celsius (104 degrees Fahrenheit) heatwave hit the harborside city.

  • *Markets eye U.S.- China trade talks, Fed policy meeting. SYDNEY, Jan 29- Asian shares stumbled on Tuesday and the dollar hovered near two-week lows as prospects for a long-awaited Sino-U.S. trade deal were dealt another blow after the United States levelled sweeping criminal charges against China's telecom giant Huawei. The mood was expected to be subdued...

  • hopes@ CHICAGO, Jan 25- U.S. soybean futures climbed to a two-week high on Friday on worries about the size of Brazil's crop and short-covering ahead of planned U.S.- China trade talks next week, traders said. As of 1:01 p.m. CST, Chicago board of Trade March soybeans were up 7 cents at $9.23 per bushel after reaching $9.23-3/ 4, the contract's highest since Jan. 10.

  • International Brent crude oil futures were at $60.85 a barrel at 0627 GMT, down 29 cents, or 0.5 percent, from their last settlement. It looks to be viewing inventory readings secondary, "said Hue Frame, portfolio manager at Frame Funds in Sydney. Earlier this week, the International Monetary Fund cut its world economic growth forecasts for 2019 and 2020, due to...

  • **SEOUL- Bank of Korea holds monetary policy meeting to announce interest rates. ACCRA- Central Bank of Ghana announces interest rate decision. WARSAW- National Bank of Poland holds monetary policy council meeting.

  • *European shares follow Asia lower, UBS results disappoint. European shares followed Asia into the red as disappointing earnings from Swiss bank UBS compounded what had been a catastrophic 2018 for Europe's banking sector, which lost nearly 30 percent of its value over the year. The downgrades heavily reflected weakness in Europe though, with Germany hurt by...