Business News Sydney

  • By Swati Pandey and Wayne Cole. SYDNEY, March 5- Australia's central bank stuck to its upbeat view of the economy after it held rates at record lows in a widely expected move on Tuesday, just a day before GDP data is likely to show domestic momentum almost stalled last quarter. A weak number could jeopardize re-election prospects for Australia's center-right...

  • MELBOURNE, March 5- Australia's gas prices are so high they could force the imminent shutdown of some manufacturing on the east coast, the nation's competition watchdog said on Tuesday, urging gas producers to step up output and offer reasonable prices. The warning comes three years after the Australian Competition and Consumer Commission first flagged...

  • *Reports that U.S.- China trade deal close buoy markets. CHICAGO, March 4- Chicago soybean futures climbed higher on Monday amid news reports that Beijing and Washington are close to settling a lingering trade dispute, a breakthrough that could boost China's demand for U.S. soy and other agricultural products. But rising expectations of a trade deal have raised...

  • SYDNEY- Speech by RBA Governor Philip Lowe at Australian Financial Review's 2019 Business Summit, Sydney- 2210 GMT. SYDNEY- Reserve Bank of Australia holds monetary policy board meeting- 0330 GMT. BRISBANE, Australia- Speech by John Simon, RBA's Head of Economic Research Department, at the Economic Society of Australia and Griffith University Symposium,...

  • *Below-par factory activity from China, Japan add to gloom. TOKYO, Feb 28- The safe-haven Swiss franc and the yen gained slightly on Thursday after the United States and North Korea failed to reach an agreement on denuclearisation of the Korean peninsula after two days of meetings. Risk currencies were also hampered by uncertainty over the progress in U.S.-...

  • *Below-par factory activity from China, Japan add to gloom. TOKYO, Feb 28- The dollar held above a three-week low on Thursday as investors remained cautious amid uncertainty over the progress in U.S.- China trade talks, while sterling rallied on bets that the chance of a no-deal Brexit was shrinking. Monthly gauges of factory activity in both China and Japan came...

  • Rio Tinto beat expectations when it reported its highest annual underlying earnings since 2014 and announced a bumper dividend after a string of divestments.

  • *Underlying earnings at $8.81 bln vs $8.47 bln forecast. *Miner offers special dividend of $2.43 per share. Flush from the recent sale of its stake in the Grasberg copper mine in Indonesia and other non-core aluminium and coal assets, Rio will have returned total cash of $13.5 billion to shareholders for the year, after declaring a $4 billion special dividend of...

  • *Pakistan says it shot down two Indian jets. TOKYO, Feb 27- Asian shares and Wall Street stock futures turned negative on Wednesday after Pakistan said it had shot down two Indian jets in its territory, sending investors out of riskier markets and into more conservative choices such as the yen. "It shows to be one risk in Asia that was probably a little bit...

  • *Trump, Kim to start 2- day summit in Hanoi on Wed. TOKYO, Feb 27- Asian shares edged towards a five-month high on Wednesday and the dollar hovered near a three-week low after Federal Reserve Chairman Jerome Powell reiterated the central bank's shift to a more "patient" approach to policy amid slowing economic growth. Spreadbetters pointed to a lackluster start for...

  • *Trump, Kim to start 2- day summit in Hanoi on Wed. TOKYO, Feb 27- Asian shares inched towards a five-month high on Wednesday and the dollar hovered near a three-week low after Federal Reserve Chairman Jerome Powell reinforced the U.S. central bank's shift to a more "patient" approach on policy in the face of a slowing economy. MSCI's broadest index of Asia-Pacific...

  • BUDAPEST- The National Bank of Hungary to decide on interest rates and key parameters of its monetary policy framework- 1300 GMT. MANILA- Philippines' Finance Minister Carlos Dominguez delivers keynote speech at a general membership meeting of the Management Association of the Philippines- 0330 GMT. BUDAPEST- Hungarian Prime Minister Viktor Orban, central...

  • Feb 25- As retail casualties such as Sears or Toys' R' Us kept piling up, costly real estate often got the blame for traditional retailers' struggle to keep up with e-commerce rivals. Yet last U.S. holiday shopping season showed stores may offer retailers a rare competitive advantage as they scramble to fend off the challenge from e-commerce giant Amazon.com and...

  • *Australian coal imports to China continue as normal- ministry. *China has upped safety, environment checks on imports- ministry. "At present, customs throughout the country are accepting as normal customs declarations for imported coal, including from Australia," said Geng Shuang, spokesman for the Ministry of Foreign Affairs in China, during a press briefing.

  • *China bans Australian coal at northern port- Reuters. SYDNEY/ BEIJING, Feb 22- Australia's prime minister sought to ease fears on Friday of a further rift in ties to China following a ban on coal imports at the northern port of Dalian that knocked coal exporters and the local dollar. Dalian's move came after major ports elsewhere in China prolonged clearing times...

  • BOGOTA- Bank of Colombia holds meeting of board of directors. TUESDAY, FEBRUARY 26 MANAMA- Bahrain Finance Minister Shaikh Salman bin Khalifa Al Khalifa, Bahrain Central Bank Governor Rasheed Mohammed Al Maraj, senior bankers and CEOs of major corporates and banks, will participate at the Euromoney GCC Financial Forum 2019. BUDAPEST- The National Bank of...

  • SYDNEY, Feb 22- As property prices rocketed toward the heady peak of Sydney's real-estate boom in 2017, the bulldozers came to Epping. "Once the sales rates and pricing dropped, it just couldn't service all of its commitments," said Philip Campbell-Wilson, who is liquidating one such new development, Gondon's Elysee Epping. Campbell-Wilson is finalising a list of...

  • *Soybeans fall after closing up, focus on U.S.- China trade talks. Soybeans slid after closing higher on Wednesday with the market focused on a Washington- Beijing trade deal which could boost U.S. bean exports to China. The most-active wheat contract on the Chicago Board of Trade was up 0.4 percent at $4.82-1/ 2 a bushel by 0412 GMT.

  • SYDNEY, Feb 21- Australia's jobs growth surged past all expectations in January as firms took on more full-time staff while the jobless rate stayed at its lowest in seven years, barnstorming performance that will boost policymakers confidence in the economy. A total 39,100 net new jobs were created in January, from a downwardly revised but still sturdy 16,900...

  • A general view of Crown Towers during the Crown Resorts annual general meeting on October 26, 2017 in Melbourne, Australia.

    Australia's biggest casino company Crown Resorts reported on Wednesday a sharp decline in spending by wealthy Chinese tourists at its properties, pushing its shares down in their biggest one-day fall in more than two years.