Business News Sydney

  • *Bankers seen leaving offices with boxes in Sydney. SYDNEY/ HONG KONG, July 8- Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia. The global working day on Monday began with cuts in Sydney, Hong Kong and elsewhere in...

  • *Bankers seen leaving offices with boxes in Sydney. SYDNEY/ HONG KONG, July 8- Deutsche Bank shares rose in pre-market trade on Monday as the German lender eliminated whole teams at its Asian operations, starting to axe 18,000 jobs globally in one of the biggest overhauls at an investment bank since the aftermath of the financial crisis. The global day on Monday,...

  • *Bankers seen leaving offices with boxes in Sydney. The global day on Monday, however, began with cuts in Sydney, Hong Kong and elsewhere in the Asia-Pacific. Bankers seen leaving Deutsche Bank's Sydney office on Monday said they had been laid off, but declined to be identified as they were due to return later to sign redundancy packages.

  • The German bank launched the restructuring on Sunday in Europe, outlining a plan that will ultimately cost 7.4 billion euros and see it dramatically scale back its investment bank- a major retreat after years of working to compete as a major force on Wall Street. While the bulk of the 18,000 job losses are widely expected to fall in Europe and the United States, on...

  • SYDNEY, July 4- Australia's consumer watchdog has sued Samsung Electronics Co Ltd's Australian unit for allegedly misleading consumers by promoting water-resistant Galaxy smartphones as suitable to use in swimming pools and the surf. The world's largest smartphone maker did not know or sufficiently test the effects of pool or saltwater exposure on its...

  • *Italian bonds rally after Italy cuts budget deficit target. "It's clear that the tariffs already in place will continue to take a toll on global and domestic growth and with Trump now turning his attention on Europe, the early bullish bias seems to ease again," said Konstantinos Anthis, head of research at ADSS. The new U.S. tariff threats against Europe also point to...

  • The Reserve Bank of Australia headquarters in the central business district of Sydney, Australia.

    The Reserve Bank of Australia's (RBA) quarter-point cut took cash rates to an all-time low of just 1% and left limited room for more reductions.

  • Treasury yields fell and gold rebounded as weak global factory activity reinforced fears about slowing growth, while doubts over whether the United States and China can pull off a trade deal also hurt sentiment. Markets in Europe are expected to extend the previous day's rally, with financial spreadbetters seeing London's FTSE and Paris' CAC up 0.3% each at...

  • SYDNEY, July 2- Australia's central bank on Tuesday cut interest rates for the second time in as many months as it strives to revive a sluggish economy and reduce unemployment, a tough task that may yet require even more stimulus. The Reserve Bank of Australia's quarter-point cut took cash rates to an all-time low of just 1% and left limited room for more...

  • *USDA estimates corn acres above expectations, soy below. CHICAGO, June 28- U.S. corn futures plunged by the most in nearly three years on Friday after the U.S. Department of Agriculture pegged U.S. planted acres well above trade expectations despite rains and flooding this spring that disrupted sowing. In its annual acreage report on Friday, the USDA said U.S....

  • Australian Prime Minister Scott Morrison at Parliament House on May 26, 2019 in Canberra, Australia.

    Australian Prime Minister Scott Morrison's rare critique of China threatens to stoke tensions with Beijing, said an expert.

  • SYDNEY, June 26- Australian Prime Minister Scott Morrison said on Wednesday that China should reform its economy to end a trade war with the United States that is damaging the global economy, comments that could strain ties with the country's largest trading partner. Rarely going beyond urging an end to the U.S.- China trade war, Morrison's rare critique of...

  • TOKYO, June 24- Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. President Donald Trump said last week that he called off a military strike to retaliate for Iran's downing of an unmanned U.S. drone, and he said on Sunday that he was not seeking war with Iran. But Pompeo also said "...

  • *FAA bans U.S. carriers from some Iran airspace. *Ban follows Iran downing of U.S. drone this week. June 21- Some global airlines are re-routing flights to avoid Iran- controlled airspace over the Strait of Hormuz and Gulf of Oman, they said on Friday, after the U.S. aviation regulator barred its carriers from the area until further notice.

  • *FAA bans U.S. carriers from some Iran airspace. *Ban follows Iran downing of U.S. drone this week. June 21- Some global airlines are re-routing flights to avoid Iran- controlled airspace over the Strait of Hormuz and Gulf of Oman, they said on Friday, after the U.S. aviation regulator barred its carriers from the area until further notice.

  • TOKYO, June 19- Oil prices extended gains into a second session on Wednesday, buoyed by rekindled hopes for a U.S.- China trade deal and potential economic stimulus from the European Central Bank. Tensions in the Middle East after tanker attacks there last week also supported oil markets. Brent crude futures were up 20 cents, or 0.3%, at $62.34 a barrel by 0644 GMT.

  • MELBOURNE, June 17- Indonesian seaweed farmers were set to seek more than A $200 million from Thailand's PTT Exploration and Production in a trial starting on Monday, to cover damage they say they suffered after Australia's worst oil spill. More than 30 witnesses from Indonesia, including seaweed farmers and oil spill, chemistry and environmental experts will...

  • A Boeing Co. B777-300ER aircraft operated by American Airlines Group Inc. stands inside the Qantas Airways Ltd. hangar at Sydney Airport in Sydney, Australia, on Friday, Nov. 13, 2015.

    The U.S. Transportation Department is expected to provide tentative approval to a bid by American Airlines and Qantas Airways to operate a joint venture, two people briefed on the matter said on Sunday.

  • WASHINGTON, June 2- The U.S. Transportation Department is expected to provide tentative approval to a bid by American Airlines Group Inc and Qantas Airways Ltd to operate a joint venture, two people briefed on the matter said on Sunday. The application by American and Qantas for a joint venture covering the United States, Australia and New Zealand was...

  • *Qatar Airways sponsors diversity and inclusion awards at meet. SEOUL, June 2- A year after Qatar Airways boss' remark that a woman could not do his job drew scathing criticism, airline executives called out the industry for paying only "lip service" to diversity and not pushing to get more women out of cabins and into boardrooms. While Akbar al-Baker had apologised...