Australasia

Shareholders seek BHP moratorium on Australian cultural site damage

09h57 BHP Group must commit to not damaging Aboriginal cultural sites as its expands its mining operations while a review of Australian heritage law is carried out, a shareholder group said in a resolution filed. . .  Full story

Australian insurers ask courts to decide on pandemic payouts

08h56 The Insurance Council of Australia began legal action on Thursday to seek formal clarification on whether they need to pay insurance claims to small businesses hit by the coronavirus pandemic.. . .  Full story

Australia shares end lower on weak earnings forecasts

08h48 Australian shares fell on Thursday, dragged down by losses in banks and utilities stocks, as a series of poor earnings forecasts fanned fears of more financial pain from the COVID-19 crisis.. . .  Full story

Australia's Woodside Petroleum says worst is over, hunts bargains

05h43 Australia's Woodside Petroleum sees oil and gas markets improving later this year after a dismal first-half hit by the COVID-19 pandemic, and is keenly looking to snap up cheap assets, its boss said on. . .  Full story

Australia's AMP outlines $400 mln plan for special dividend and buyback, shares soar

05h16 Australia's scandal-hit AMP Ltd said on Thursday it would return up to almost $400 million to investors in the form of a special dividend and a share buyback, sending its stock surging as much. . .  Full story

Australia's South32 to sell manganese alloy smelter TEMCO to UK's GFG Alliance

05h05 Australian diversified miner South 32 Ltd said on Thursday it would sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance.. . .  Full story

Australian shares inch lower as financials drag; NZ gains

03h49 Australian shares edged lower on Thursday, pulled down by losses in heavyweight financial stocks, even as the country's second-most populous state reported its lowest single-day rise in new coronavirus infections in more than three weeks.. . .  Full story

Woodside says on the lookout for acquisitions

02h28 Australia's Woodside Petroleum is looking for acquisitions, ideally close to its existing assets or offering it control over assets that are already producing or close to producing, its boss said on Thursday.. . .  Full story

Australia shares set to track Wall Street higher, NZ falls

00h08 Australian shares were set to rise on Thursday, buoyed by an overnight tech-led rally on Wall Street, with the S&P 500 finishing just short of its. . .  Full story

Australia's AMP first-half profit slumps as coronavirus slams fee income

12/08 Australia's largest wealth manager AMP Ltd said on Thursday its first-half profit nearly halved as coronavirus-induced market turmoil led to a plunge in fee income and a higher loan-loss provision at its banking unit. . .  Full story

Virus resurgence drives New Zealand shares lower, Australia falls

12/08 New Zealand stocks registered their worst close in a month on Wednesday after the country reported its first set of coronavirus cases in 102 days, while losses among miners and gold stocks weighed down. . .  Full story

Ticking Timebomb? Thousands of Australian mortgages propped up by virus benefits

12/08 Nearly 20,000 Commonwealth Bank of Australia mortgages are held by people receiving jobless benefits due to COVID-19, raising concerns for the economy of possible forced property sales and sharp house price declines once support runs. . .  Full story

NZ central bank expands bond-buying, warns of negative rates as nation locks down again

12/08 New Zealand's central bank surprised markets on Wednesday by expanding its bond-buying programme and warned that policy rates might have to go below zero to revive the coronavirus-battered economy as the country was plunged back. . .  Full story

Australian state grants Whitehaven's controversial coal mine expansion

12/08 A New South Wales state regulator on Wednesday gave the green light for Australian miner Whitehaven Coal Ltd to proceed with the expansion of a controversial coal mine, in a blow to local farming. . .  Full story

Australian wage growth lowest ever in Q2 as pandemic rages on

12/08 Australian wages grew at their slowest pace on record in the second quarter, underscoring the damage the coronavirus has done to household spending, after recent data showed consumer confidence and business conditions were hit.. . .  Full story

Australia's CBA to pay maximum dividend allowed despite COVID-19 hit

12/08 Commonwealth Bank of Australia (CBA) slashed its annual dividend by more than half to the maximum payout allowed by regulators, even as bad loan provisions amid the coronavirus pandemic drove its annual cash profit below. . .  Full story

Australian consumer sentiment sinks amid 'air of panic'

12/08 A measure of Australian consumer sentiment fell sharply in August as a strict coronavirus lockdown in Victoria state darkened the mood in a major setback to the country's fledgling economic recovery.. . .  Full story

Australian BP worker fired for Hitler memes wins $143,000 compensation

11/08 An employee of BP Plc's Australian refinery who was fired last year for mocking management online using a well-known meme of Adolf Hitler has been awarded more than A$200,000 ($143,100) in compensation.. . .  Full story

Australia's APLNG plans plant maintenance over 2020-2021 - notice

11/08 The Australia Pacific liquefied natural gas (APLNG) plant on Curtis Island off the east coast has planned maintenance in stages over this year and next, according to a notice on the Australia Energy Market. . .  Full story

Australian employment steady in July, Victoria suffers setback

11/08 Australian employment was steady through July, weekly data showed on Tuesday, though the southeastern state of Victoria, which is grappling with a fresh wave of coronavirus infections, suffered a setback.. . .  Full story

Australia business conditions improve, but new lockdown slugs sentiment-survey

11/08 A measure of Australian business conditions rose in July as the service sector rebounded from a national lockdown, but confidence was badly hit by a renewed outbreak of coronavirus in the second most populous. . .  Full story

Australia shares set to open flat, NZ rises

11/08 Australian shares were poised to open little changed on Tuesday as investors await news on progress on a U.S. fiscal support bill and keep a close eye on coronavirus data after signs that a. . .  Full story

NZ's Fletcher Building warns of $129 mln loss for 2020, supply chain challenges

10/08 New Zealand's Fletcher Building on Tuesday forecast its first annual net loss in two years and warned of persistent challenges across its supply chains in the year ahead due to disruptions caused by the. . .  Full story

Australian miner Fortescue wins HBIS iron ore tender in yuan

10/08 Australian miner Fortescue Metals Group won a tender to supply HBIS Group Co Ltd with an iron ore spot cargo that will be paid for in yuan, the Chinese steelmaker said on Monday.. . .  Full story

Australia shares end near 3-week high, buoyed by financials

10/08 Australian shares registered their highest close in nearly three weeks on Monday, driven by gains among heavyweight financials, while a dip in new coronavirus infections in Victoria and renewed hopes of financial aid in. . .  Full story

Pay out or stay out? Dividends in doubt as Australian profits catch virus

10/08 Australian companies are likely to deliver smaller dividends in what is forecast to be the country's worst earnings season in a decade because of the coronavirus pandemic, with even firms that benefited from the upheaval. . .  Full story

Australia shares firm on U.S. stimulus hopes, NZ rises

10/08 Australian shares firmed on Monday, lifted by hopes that U.S. lawmakers could soon reach a deal for fresh fiscal stimulus, even as a resurgence in COVID-19 infections at home led to a record number. . .  Full story

NZ PM Ardern launches 'COVID election' campaign promising jobs

08/08 New Zealand Prime Minister Jacinda Ardern on Saturday launched her re-election campaign promising a "laser-like" focus on boosting jobs and economic growth hit by the COVID-19 pandemic.. . .  Full story

Australia shares slip as dour GDP outlook, Sino-U.S. rift weigh

07/08 Australian shares closed lower on Friday after the central bank downgraded its outlook for the national economy and as a U.S. ban on transactions with China's ByteDance and Tencent heightened tensions between the world's leading. . .  Full story

Australia's c.bank cuts GDP outlook as virus returns to Melbourne

07/08 Australia's central bank downgraded its outlook for the national economy on Friday and warned unemployment would stay high for several years as a second wave of coronavirus infections sent the city of Melbourne back into. . .  Full story

Australia shares fall as resurgent virus spurs fears of unemployment

07/08 Australian shares retreated on Friday, with miners leading losses, as heightened coronavirus-induced restrictions following a second wave of infections stoked fears of further economic damage and unemployment.. . .  Full story

Australia shares set to dip as virus curbs take toll

07/08 Australian shares were poised to edge lower at the open on Friday as a strict COVID-19-driven lockdown in the country's second-largest city Melbourne stoked fears of further unemployment and financial damage.. . .  Full story

Australia to spend $1.2 bln on cyber security for private sector after rise in attacks

06/08 Australia will spend A$1.66 billion ($1.19 billion) over the next 10 years to strengthen the cyber defences of companies and households after a rise in cyber attacks, Prime Minister Scott Morrison said on Thursday.. . .  Full story

Perth Mint's gold sales rise on safe-haven demand

06/08 The Perth Mint's sales of gold products jumped more than 26% in July from a month earlier, the refiner said on Thursday, tracking a rise in global bullion prices as the coronavirus pandemic drove. . .  Full story

Australia shares end higher as mining, energy stocks firm

06/08 Australian shares ended higher on Thursday, following a firmer finish on Wall Street, as mining and energy stocks rallied on the back of higher commodity and oil prices.. . .  Full story

Australia's second-biggest city enters strict new coronavirus lockdown

06/08 Australia's second-biggest city Melbourne began the first day of a six-week total lockdown on Thursday with the closure of most shops and businesses raising new fears of food shortages, as authorities battle a second. . .  Full story

Australia, NZ dollars seen levelling off after climb

06/08 Analysts have again upgraded forecasts for the Australian and New Zealand dollars in the latest Reuters poll, but still lag the market as investors increasingly wager on a lasting downtrend for their U.S. counterpart.. . .  Full story

Australia shares advance as miners, Wall Street surge

06/08 Australian shares rose on Thursday after Wall Street notched overnight gains on strong corporate earnings and hopes for further U.S. stimulus, while domestic miners stormed to their highest in more than 9 years as. . .  Full story

Australia's AMP says head of scandal-hit wealth unit resigns

06/08 Australia's largest financial advisory firm AMP Ltd said on Thursday Alex Wade resigned as the chief executive of its domestic wealth arm, as the unit navigates hefty outflows and lawsuits.. . .  Full story

Australia shares set to track Wall Street higher

06/08 Australian shares were set to rise at the open on Thursday after Wall Street advanced overnight on strong corporate earnings and hopes that a U.S. coronavirus financial aid package was on the horizon.. . .  Full story

Australia shares end lower as corporate earnings, COVID-19 cases loom

05/08 Australian shares closed lower on Wednesday as investors stayed away from risky bets ahead of the corporate earnings season, while a spike in domestic COVID-19 cases continued to bruise risk sentiment.. . .  Full story

Virgin Australia to slash workforce, focus on short haul under Bain

05/08 Virgin Australia Holdings Ltd plans to cut a third of its workforce as part of an overhaul to focus on being a domestic and short-haul international Boeing Co 737 operator under prospective new owner Bain. . .  Full story

Australia shares drop 1% as fresh coronavirus curbs dent sentiment

05/08 Australian shares fell 1% on Wednesday as fresh coronavirus-related restrictions fanned fears of further economic damage, though losses were limited by a rally in gold stocks after the precious metal surged to a record. . .  Full story

Australia's Lynas to start building waste facility in Malaysia next year

05/08 Australian rare earths miner Lynas Corp said on Wednesday it aims to begin development of a permanent waste treatment facility in Malaysia by early 2021 and will apply for final regulatory approvals over the. . .  Full story

Australia's Telstra to sell Melbourne data centre for about $300 mln

05/08 Australia's largest telecom company Telstra Corp said on Wednesday it will sell its Clayton data centre facility in Melbourne to property firm Centuria Industrial REIT for A$416.7 million ($298.4 million).. . .  Full story

Australia shares poised to fall at open as virus cases rise

05/08 Australian shares were set to open lower on Wednesday as a rising tide of COVID-19 cases in the country muted risk sentiment, though losses may be limited as Wall Street squeezed out gains in. . .  Full story

COLUMN-Mixed imports data at top two buyers leaves coal prices poised: Russell

04/08 It appears to be a case of one step forward, one step back for Asia's seaborne coal exporters in July, with signs of a tentative recovery in Indian imports, but a drop in those. . .  Full story

Goldman Sachs names new equity capital head for Australia, New Zealand

04/08 Goldman Sachs Group Inc has named Ian Taylor as the bank's new head of equity capital markets (ECM) for Australia and New Zealand, a spokeswoman in Australia said on Tuesday.. . .  Full story

-Office Space: Australia builds skyscrapers for a workforce stuck at home

04/08 It was billed by the government as a kickstart to the coronavirus-stricken economy of Australia's biggest city: a new tech hub in a forest of skyscrapers built over 24 hectares (59 acres) of railyards. . .  Full story

Australia c.bank sees bumpy road to recovery as virus shuts down Victoria

04/08 Australia's central bank held its cash rate at an all-time low on Tuesday, predicting the economic recovery will likely be both 'uneven' and 'bumpy' as the country's second biggest state locks down to fight. . .  Full story

Valuation of Asian shares rises to decade high on stimulus support

04/08 The valuation of Asian shares surged to a more than 10-1/2-year high in July, Refinitiv data showed, as record-low interest rates and abundant government stimulus helped offset worries over the economic impact of the. . .  Full story

Australian interest rate changes since 1990

04/08 The Reserve Bank of Australia held its cash rate at 0.25% on Tuesday following a monthly policy meeting. The following is a chronology of the Reserve Bank of Australia's interest. . .  Full story

Australian retailers suffer worst quarter in 2 decades, exports shine

04/08 Australia's retailers are facing a consumption drought as the country's second biggest state locks down to fight the coronavirus and as data showed sales volumes suffered their biggest plunge in two decades in the. . .  Full story

Coronavirus pushes up Australia's total loan deferrals to $195 bln at June-end

04/08 Australian lenders deferred a further A$40 billion ($28.47 billion) loans in June, the country's financial watchdog said on Tuesday, as borrowers struggled to service their debts in the wake of the coronavirus crisis.. . .  Full story

Australia shares set to track Wall Street higher; NZ rises

04/08 Australian shares were poised to advance at the open on Tuesday after tech stocks powered Wall Street higher overnight, with investors looking forward to more U.S. stimulus in the near future.. . .  Full story

Australia's Melbourne clamps down in frantic race to curb virus

03/08 Australia's second-biggest city, Melbourne, already under night curfew, announced fresh restrictions on industries including retail and construction on Monday in a bid to contain a resurgence of the coronavirus.. . .  Full story

Australia's Victoria state imposes new lockdown measures

03/08 Australia's second-most populous state Victoria entered its first full day under stricter lockdown measures on Monday, after declaring a state of disaster and imposing a nightly curfew in the state capital Melbourne, to fight a. . .  Full story

Australia's Genex Power clinches investment from J-Power, shares jump

03/08 Australia's Genex Power Ltd said on Monday that Japan's J-Power would invest as much as A$25 million ($17.8 million), finalising a deal that secures funding for Genex's equity component of the Kidston pumped hydro project.. . .  Full story

Australia shares hit over 1-month low as Victoria imposes harsh virus curbs

03/08 Australian shares fell to a more than one-month low on Monday, dragged down by financial stocks, as the country's second-most populous state imposed its strictest movement restrictions yet to curb an uptick in COVID-19. . .  Full story

Australian job advertisements rebound 16.7% in July - ANZ

03/08 Australian job advertisements rebounded strongly for a second month in July as the economy re-opened, though ads were still down on a year earlier as Victoria was hit by a fresh coronavirus lockdown.. . .  Full story

Australian house prices fall for third month in July-CoreLogic

03/08 Australian home prices eased for a third straight month in July as the reimposition of a coronavirus lockdown in Victoria weighed on the Melbourne market and consumer sentiment generally.. . .  Full story

Australia shares poised to open flat ahead of c. bank meeting

03/08 Australian shares were set to open flat on Monday as investors adopted a cautious stance ahead of a central bank meeting this week, while a resurgence in COVID-19 cases also dampened risk appetite.. . .  Full story

Australia shares drop for second week as virus cases rise, U.S. data disappoints

31/07 The Australian benchmark index fell on Friday to its lowest close in three weeks, posting a second straight weekly fall as rising coronavirus cases fed fears of stricter lockdowns and dismal data from the. . .  Full story

Australia's AMP warns of half-year profit plunge, blames virus

31/07 AMP Ltd, Australia's largest financial advisory firm, said on Friday it expects its first-half underlying profit to more than halve, blaming the coronavirus pandemic and unsettled markets for a slump in fee income and higher. . .  Full story

Australian shares set for 2nd weekly loss as virus crisis worsens

31/07 Australian shares fell more than 1% on Friday and headed for their second straight weekly loss a day after the country recorded its deadliest day since the pandemic's onset, with sentiment further dented by. . .  Full story

Office Space: Australia builds skyscrapers for a workforce stuck at home

31/07 It was billed by the government as a kickstart to the coronavirus-stricken economy of Australia's biggest city: a new tech hub in a forest of skyscrapers built over 24 hectares (59 acres) of railyards. . .  Full story

Australia shares set to open lower, NZ flat

31/07 Australian shares are poised to open lower on Friday, with investor sentiment hurt by a worsening coronavirus crisis at home and losses on Wall Street. Australia recorded its deadliest day. . .  Full story

Australians likely to withdraw $30 bln from pensions to weather coronavirus

30/07 Australians will withdraw 56% more from their retirement savings than the government originally expected because of the novel coronavirus crisis, according to treasury analysis, as they use the tax-free money to repay home loans and. . .  Full story

Australia shares close higher on Fed pledge, tech stocks shine

30/07 Australian shares closed higher on Thursday as investors cheered the Federal Reserve's assertion it would use its "full range of tools" to support the virus-stricken U.S. economy, with added lift from tech stocks ahead of. . .  Full story

Australia's AMP hit by class action over insurance advice

30/07 Wealth manager AMP Ltd said on Thursday it had been served with a class action over advice provided in relation to certain life and other insurance products, the second lawsuit in as many days.. . .  Full story

Australia's Macquarie reports lower Q1 profit, sees challenging outlook

30/07 Australia's Macquarie Group on Thursday reported a lower first-quarter profit and continued to withhold earnings guidance for fiscal 2021, warning that the impact of the global pandemic would challenge each of its units.. . .  Full story

Australia shares rise as Fed signals more support; iron giants boost

30/07 Australian shares rose on Thursday as the U.S. Federal Reserve reiterated its plans to keep interest rates near-zero for as long as it takes to revive the economy, while strong performance from domestic iron. . .  Full story

Australia's Fortescue posts record iron ore shipments, beats full-year forecast

30/07 Miner Fortescue Metals Group on Thursday beat its full-year iron ore estimates with record shipments in the fourth quarter on the back of strong demand for the steel-making ingredient from China.. . .  Full story

Australia's Pilbara Minerals says lithium prices may be near bottom

30/07 Lithium prices may be bottoming, Australia's Pilbara Minerals said on Thursday, supported by COVID-19 stimulus packages and government measures to boost the electric vehicle (EV) and renewable energy sectors.. . .  Full story

Australian bank CBA sets aside $216 mln more to remediate customers

30/07 Commonwealth Bank of Australia (CBA) said on Thursday it is making additional provisions of A$300 million ($215.67 million) in its annual results to remediate customers across its aligned advice businesses.. . .  Full story

Australia hopes for 'magnificent' wheat crop in pandemic economy

30/07 Just months after rains broke Australia's crippling three-year drought, fields of grain have sprung to life, lifting forecasts for a bumper wheat harvest and reviving the beaten up agricultural sector through roaring tractor sales and. . .  Full story

Australia shares poised to rise on Fed vow of support

30/07 Australian shares are set to open higher on Thursday in line with a strong finish on Wall Street after the U.S. Federal Reserve reiterated its pledge to maintain near-zero interest rates as long as. . .  Full story

Australia shares give up gains on virus worries; Fed decision awaited

29/07 Australian shares surrendered early gains to settle lower on Wednesday, as investors exercised caution in the face of a worsening domestic coronavirus crisis, and ahead of the U.S. Federal Reserve policy decision and key earnings. . .  Full story

Hastings Technology Metals to relocate part of rare earths plant to save costs

29/07 Australia's Hastings Technology Metals Ltd said on Wednesday it would reduce its capital spend on the Yangibana rare earths project by about A$68 mln ($48.73 mln) through decoupling and relocating a part of it.. . .  Full story

Australian consumer prices fall by record in Q2, outlook weak

29/07 Australian consumer prices fell by a record last quarter as the coronavirus crisis caused one-off slides in the cost of child care and petrol, dealing a damaging setback to years of progress toward higher. . .  Full story

Australia shares rise on gains in banks as regulator lifts dividend freeze

29/07 Australian shares edged higher on Wednesday, boosted by strength in financials and gold stocks, although gains were capped as concerns lingered over the economic impact of the coronavirus.. . .  Full story

Westpac to move 1,000 overseas call centre jobs to Australia

29/07 Westpac Banking Corp said on Wednesday it will bring back 1,000 call centre jobs to Australia from overseas to meet growing demand for customer assistance due to the coronavirus pandemic.. . .  Full story

Australia shares likely to extend losses, NZ flat

29/07 Australian shares are likely to open lower on Wednesday, tracking losses on Wall Street and in global equities, as an impasse in U.S. economic stimulus negotiations dented sentiment. MSCI's gauge of. . .  Full story

Australian shares give up gains on fears of stricter COVID-19 restrictions

28/07 Australian shares gave up early gains to close lower on Tuesday as a rise in coronavirus cases stoked concerns of a stricter lockdown, while data showed employment was hit due to restrictions placed earlier.. . .  Full story

Australian employment suffers setback from second virus wave

28/07 Australian employment fell 1.1% between mid-June and mid-July, weekly data showed on Tuesday, with the biggest loss coming from the southeastern state of Victoria, which is grappling with a fresh wave of coronavirus infections.. . .  Full story

Australian shares rise on U.S. stimulus hopes; gold index scales fresh peak

28/07 Australian shares gained on Tuesday after U.S. Republicans proposed a $1 trillion coronavirus aid package, with sentiment aided by gold stocks scaling a fresh peak.. . .  Full story

Australia shares set to track Wall Street higher on U.S. stimulus hopes

28/07 Australian shares were poised to rise at the open on Tuesday, after big tech companies pushed Wall Street higher overnight and investors set sights on further U.S. government stimulus to blunt the coronavirus pandemic's financial. . .  Full story

Westpac hands regulator more transaction info, says not all break money-laundering laws

28/07 Westpac Banking Corp said it gave updated information on more than 500,000 threshold transactions to Australia's financial crime regulator that it had not reported or were incomplete amid allegations it enabled millions of illegal payments.. . .  Full story

Australian shares close higher on gold stocks, c.bank comments

27/07 Australian shares settled higher on Monday, helped by a record rally in gold stocks and reassurances of further support from a senior central bank official to ease the economic pain caused by the coronavirus. . .  Full story

Australian inflation likely fell by record in Q2 amid virus fight

27/07 Australian inflation likely took its largest decline on record in the second quarter as the government made child care free to help families through the COVD-19 lock down and petrol prices tumbled, though much. . .  Full story