Australasia

OceanaGold suspends Didipio mine operations in Philippines amid dispute

12h50 Australia's OceanGold Corp warned of lower output this year after it suspended production at its Didipio gold and copper mine in the Philippines citing a dispute with local government.. . .  Full story

Australia shares eke out slight gains as miners drag

08h40 Australian shares managed only modest gains on Tuesday, with sentiment hurt by concerns over a slowdown in top consumer China and declines in miners.. . .  Full story

Australian banks to be asked to hold more capital against their NZ units - regulator

08h39 Australia's banking regulator on Tuesday said it plans to ask lenders to meet higher capital levels domestically to offset their exposure to large overseas units - a move that comes in response to plans. . .  Full story

Australian shares inch up, miners sag on China demand worry

03h30 Australian shares notched modest gains on Tuesday, as mixed signals on Sino-U.S. trade curbed risk taking, while mining stocks stumbled after weak trade data from top consumer China.. . .  Full story

Australian economy to limp along as consumers struggle

02h05 Analysts have again trimmed their forecasts for Australia's economic growth as consumers struggle with high debt and sluggish wages at home, while a slowdown globally weighs on business investment plans, a Reuters poll found.. . .  Full story

Australia's Newcrest greenlights first-stage expansion of Cadia gold mine

02h00 Australia's Newcrest Mining Ltd, the country's biggest gold producer, said on Tuesday it will go ahead with a $685 million first-stage expansion of its flagship Cadia mine in New South Wales.. . .  Full story

Australian shares set for soft start, NZ inches up

14/10 Australian shares were set to open lower on Tuesday as optimism surrounding U.S.-Sino trade talks receded, adding to weak economic readings from top trade partner China. Resource stocks could. . .  Full story

Australia shares gain for 3rd day on trade talk optimism

14/10 Australian shares ended higher for a third straight session on Monday, aided mainly by gains in financials and energy stocks, as signs of headway in Sino-U.S. trade talks prompted investors to move back into. . .  Full story

Australia calls for new probe into loan pricing by banks

14/10 The Australian government has ordered the competition watchdog to investigate why banks failed to fully pass on three official interest rate cuts this year, less than a year after a public inquiry exposed the. . .  Full story

Australia, New Zealand shares move higher on trade progress

14/10 Strength in miners and banks helped Australian shares rise for a third straight session on Monday, bolstered by signs of headway in trade talks between the world's two largest economies.. . .  Full story

Australian shares set to start week higher, NZ rises

13/10 Australian shares were poised to climb on Monday as news of an interim trade deal between Washington and Beijing soothed investor concerns over further escalation of their tariff war. U.S. President. . .  Full story

Senior Australian minister says China is behaving badly, draws rebuke

12/10 A senior Australian government minister said on Friday China was behaving in a way that was inconsistent with Australian values by targeting political parties and universities in Australia, drawing a sharp rebuke from China's embassy.. . .  Full story

How do miners dispose of their waste in the sea?

11/10 Sea disposal of mining waste could spread as Indonesia weighs adopting the technique for new nickel projects, as Papua New Guinea is doing for a gold mine proposed by Australia's Newcrest Mining.. . .  Full story

Australia says to set up financial planner watchdog by 2021

11/10 Australia on Friday said it would establish a disciplinary system for financial planners by year-end, with a watchdog body to enforce it set up by 2021, as the government moves to adopt the recommendations. . .  Full story

Australia rules out return to state infrastructure incentive scheme

11/10 Australia's federal treasurer on Friday ruled out a return to an infrastructure investment incentive scheme, closing out a policy that spurred billion-dollar privatisations ahead of a meeting with state counterparts on increasing infrastructure spending.. . .  Full story

Australian stocks eye stronger open on trade optimism; NZ up

10/10 Australian shares were likely to open stronger on Friday as positive comments from Washington and Beijing spurred optimism over a possible de-escalation in trade tensions. The local share price. . .  Full story

India pursues China-led trade deal despite domestic opposition

10/10 India is pressing ahead with talks to join a China-led free trade pact, officials said on Thursday, despite some domestic producers' concerns that the country could be flooded with cheaper Chinese imports.. . .  Full story

Australian shares flat as investors wait for outcome of crucial trade talks

10/10 Australian shares closed flat on Thursday as uncertainty over the outcome of U.S.-China trade talks kept most investors on the sidelines, with small gains in financial stocks outweighing losses in resources.. . .  Full story

Australia's embattled AMP merges banking, domestic wealth management units

10/10 Australia's AMP Ltd said on Thursday it will merge its banking and Australian wealth management units as part of a turnaround plan aimed at making the firm more customer-focused, after an inquiry revealed widespread misconduct.. . .  Full story

Australia, New Zealand shares slip on Sino-U.S. trade jitters

10/10 Australian shares fell in volatile trade on Thursday, tracking a decline in Wall Street futures after a report suggested that little progress had been made in Sino-U.S. trade negotiations.. . .  Full story

Australian shares eye stronger open tracking Wall St; NZ up

09/10 Australian shares were set for a strong start to Thursday, tracking gains on Wall Street as markets hoped for at least a partial trade deal between the United States and China.. . .  Full story

Australia shares snap 3-day winning streak as trade frictions intensify

09/10 Australian shares on Wednesday ended lower for the first time in four sessions as another spike in trade tensions between the United States and China clouded optimism over senior-level talks set to begin this. . .  Full story

Australian homes destroyed by spring fires in 'horrible' warning

09/10 More than 20 homes have been destroyed by spring fires in Australia, officials said on Wednesday, straining communities already suffering under the region's worst drought conditions in living memory.. . .  Full story

Australian regulator to require annual declarations on governance from banks

09/10 Australia's banking regulator said on Wednesday it will ask financial institutions for annual declarations on governance and corporate culture, and will conduct "deep dive" reviews if concerns arise.. . .  Full story

Australia, New Zealand shares stumble on rising trade friction

09/10 Australian shares fell on Wednesday as heightened tensions between the United States and China unnerved investors and clouded optimism over senior-level trade talks set to begin this week.. . .  Full story

FDA approves Clinuvel's rare genetic disorder treatment, shares at record high

09/10 The U.S. Food and Drug Administration approved Australian drugmaker Clinuvel Pharmaceuticals Ltd's treatment for a rare inherited disorder that causes skin damage from exposure to light, sending its shares to a record high on Wednesday.. . .  Full story

Australia's CBA to raise $505 mln through notes offering

09/10 Commonwealth Bank of Australia on Wednesday announced a capital notes offering to raise about A$750 million ($505 million), as the bank attempts to beef up its capital in a tougher operating environment.. . .  Full story

Australian shares set for weak open on mining stocks; NZ drops

08/10 Australian shares were likely to open weaker on Wednesday with mining stocks set to track lower metal prices, while caution loomed ahead of senior-level trade talks between the United States and China.. . .  Full story

Australian shares end higher on energy stocks, miners

08/10 Australian shares ended higher on Tuesday, as miners and energy stocks rose on the back of higher commodities and oil prices ahead of renewed efforts this week to resolve the U.S.-China trade conflict.. . .  Full story

Shanghai steel futures fall as production curbs may be eased

08/10 Shanghai steel futures fell to their lowest in two weeks on Tuesday, reflecting worries about demand prospects and excessive supply in top producer and consumer China, while iron ore rose on the first trading. . .  Full story

Australian stocks set for third day of gains; NZ slightly down

08/10 Australian shares rose on Tuesday, supported by gains in energy firms and miners, with markets cautiously optimistic for some headway in U.S.-China trade talks this week.. . .  Full story

Australian business confidence eases further in September -NAB survey

08/10 A closely watched measure of Australian business confidence edged lower in September while business conditions remained sub-par, indicating aggressive rate cuts have been unable to lift the mood in the corporate sector, a survey showed. . .  Full story

NZ 2018/19 government surplus rises, beats f'cast

08/10 The New Zealand government reported a better-than-expected surplus in the 2018/19 year, supported by a stronger economy, Minister of Finance Grant Robertson said on Tuesday. The government's operating balance excluding gains. . .  Full story

Australia's Santos posts 'extremely positive' oil flow at Dorado well

08/10 Australia's Santos Ltd said on Tuesday results from a closely watched appraisal well showed its Dorado field in Western Australia could produce at the higher end of expectations.. . .  Full story

Australian stocks set for stronger open; NZ flat

07/10 Australian shares were likely to open higher on Tuesday following signs of further cooperation on the U.S.-China trade front, although caution persisted ahead of high-level negotiations between Washington and Beijing later in the week.. . .  Full story

Australia's Fortescue confirms bid to develop Guinea iron ore

07/10 Australia's Fortescue Metals Group confirmed on Monday that it has submitted a bid to develop two blocks in the giant Simandou iron ore deposit in Guinea.. . .  Full story

PropertyGuru's Australia IPO may raise up to $257 mln

07/10 Southeast Asian online realtor PropertyGuru Ltd filed a prospectus in Australia seeking an initial public offering (IPO) that could raise as much as A$380.2 million ($257 million).. . .  Full story

Australia shares follow Wall Street higher on a quiet day

07/10 Australian shares closed higher in light trade on Monday, tracking Wall Street gains after U.S. employment data on Friday reduced concerns over a possible recession in the world's largest economy.. . .  Full story

Australian shares rise in slim trade; NZ up

07/10 Australian shares rose on Monday, tracking strength on Wall Street after moderate employment data in the United States dispelled some concerns over a recession in the world's largest economy.. . .  Full story

Australian stocks eye stronger open; NZ up

06/10 Australian shares were set rise at the open on Monday, tracking a bounce in Wall Street after moderate jobs growth in the United States soothed some concerns over a recession in the world's largest. . .  Full story

Australia's former c.bank head warns of limited power of rate cuts -paper

05/10 Further interest rate cuts by the Reserve Bank of Australia would do little to boost the economy as the power of monetary policy easing is limited, a former governor of the bank told the. . .  Full story

Analysts cut Asian firms' 2019 profit outlook on trade worries

04/10 Analysts have cut their earnings forecasts for Asian firms over the past month due to concerns over U.S-China trade tariffs and slowing global economic growth, Refinitiv data shows.. . .  Full story

Australian shares close higher but chalk up biggest weekly loss in 11 months

04/10 Australian shares closed higher on Friday but registered their biggest losses in 11 months after a series of weak data and a new trade war front that has fanned fears of a global slowdown.. . .  Full story

Australian PE firm eyes sale of water pipe maker Steel Mains - sources

04/10 Australian buyout firm Crescent Capital Partners is looking to sell a water pipeline manufacturer it bought in 2015, two sources told Reuters, aiming to tap increased offshore interest in water infrastructure.. . .  Full story

Australian banks face new inquiry, this time over competition

04/10 Australia's competition regulator said on Friday it is considering an investigation into the banking sector, less than a year after a public inquiry exposed widespread wrongdoing and led to billions of dollars in costs for. . .  Full story

Australia's CBA slapped with rare criminal charges for unsolicited sales calls

04/10 The life insurance arm of Australia's biggest bank was charged on Friday with dozens of breaches of a law banning sales staff from cold calling customers to sell financial products, in a sign that. . .  Full story

Australian shares edge higher; set for worst week in 11 months

04/10 Australian shares ticked up on Friday in thin trade, as investors refrained from making big bets ahead of a key U.S. jobs report following a series of dismal data that put the index on. . .  Full story

Australia securities regulator charges CBA insurance arm with "hawking" offences

04/10 Australia's securities regulator said on Friday Commonwealth Bank of Australia's insurance arm has been charged with "hawking" offences related to unsolicited phone calls to sell its products.. . .  Full story

Australian shares to rise on U.S. rate-cut hopes, NZ up

03/10 Australian shares are expected to edge up on Friday, rebounding slightly from two days of heavy losses, as hopes of policy easing by the U.S. central bank gained momentum. Markets. . .  Full story

S.African govt in talks with coal miners to cut prices for cash-strapped Eskom

03/10 South Africa's mines and energy minister on Thursday said he was in talks with coal firms that supply struggling state-owned power utility Eskom to reduce coal prices in a bid. . .  Full story

IOOF wealth unit Elders reviewing future amid tougher regulation

03/10 Elders Financial Planning, a unit of Australian wealth manager IOOF Holdings, said on Thursday it is considering its viability amid tough new regulations in the sector.. . .  Full story

Australia's NAB doubles compensation pot; dividend cut, capital raising possible

02/10 National Australia Bank Ltd (NAB) said on Wednesday it has almost doubled funds set aside to repay customers for overcharged fees to A$2.09 billion ($1.40 billion), raising expectations of further dividend cuts or a capital. . .  Full story

Asian shares post gains in September on trade hopes

01/10 Asian shares posted their first monthly gain in three months in September as a softening of U.S.-China trade tensions and major central banks' monetary easing measures averted fears about a global recession and lifted. . .  Full story

Australian banks start resisting lowering rates in full as cuts squeeze their margins

01/10 Two of Australia's four largest banks defied calls on Tuesday to pass on a central bank interest rate cut in full, as concerns rise over the impact of record low rates on their margins.. . .  Full story

Perth Mint's Sept gold sales double, silver sales hit 3-1/2-year peak

01/10 The Perth Mint's gold sales more than doubled in September from a month earlier, the refiner said on Tuesday, while silver product sales rose to their highest in three-and-a-half years. Sales. . .  Full story

Australian stocks climb after cenbank cuts interest rates

01/10 Australian shares had their best day in almost a month on Tuesday after the country's central bank eased monetary policy, with rate-sensitive sectors driving the late gains.. . .  Full story

Australian big bank margins squeezed by record low interest rates

01/10 Australian banks' net interest margins will be hurt by Tuesday's cut in interest rates to an unprecedented low of 0.75% and any further central bank action to stimulate the economy, analysts said.. . .  Full story

Australia's Wesfarmers says 6,000 staff were underpaid $10 mln

01/10 Australian retail conglomerate Wesfarmers Ltd said on Tuesday that about 6,000 current and former employees at its industrials and safety business were underpaid about A$15 million ($10 million) since 2010.. . .  Full story

Australia c.bank cuts rates to all-time low, signals may need more

01/10 Australia's central bank cut interest rates for the third time this year on Tuesday in a bid to stimulate a sluggish economy and signalled it was prepared to do more if needed, knocking the. . .  Full story

Australian interest rate changes since 1990

01/10 The Reserve Bank of Australia reduced its cash rate to 0.75% on Tuesday, following its monthly policy meeting. The following is a chronology of the Reserve Bank of Australia's interest. . .  Full story

Oil Search to lose veteran boss in 2020 amid big growth push

01/10 Papua New Guinea's biggest company Oil Search Ltd said on Tuesday long-serving Managing Director Peter Botten will retire from the firm next year after 25 years in the role, just as the company enters. . .  Full story

Australia home prices jump most in 2-1/2 yrs but home approvals sink ahead of RBA decision

01/10 Australian home prices posted their biggest monthly jump in 2-1/2 years in September, with the dominant markets of Sydney and Melbourne bouncing strongly, but approvals to build new homes collapsed to the lowest since. . .  Full story

Australian shares edge up ahead of anticipated c.bank rate cut

01/10 Australian shares edged higher on Tuesday ahead of a widely anticipated rate cut by the country's central bank, though some investors doubted it would have much impact on the market.. . .  Full story

Australian shares to open flat ahead of RBA decision; NZ little changed

30/09 Australian shares are expected to open little changed on Tuesday as investors will likely stay on the sidelines ahead of a widely anticipated interest rate cut by the local central bank.. . .  Full story

RBNZ to announce bank capital raising review decision in Dec

30/09 The Reserve Bank of New Zealand (RBNZ) said on Tuesday that its final decision on a proposal to increase the amount of capital banks must hold will be announced in December, and it is. . .  Full story

Australian shares close lower ahead of central bank policy meeting

30/09 Australian shares fell on Monday following a late drop by mining stocks while financials constituted the biggest drag ahead of a widely expected interest rate cut by Australia's central bank the next day.. . .  Full story

Australian dealmaking fees dive to 3-yr low but recovery seen on record low rates

30/09 Australia investment banking fees slumped 24% to three-year lows as global economic uncertainties drove M&A volumes down by a fifth so far in 2019, but bankers said record low interest rates and chances of. . .  Full story

Australian shares tick up on miners, energy stocks

30/09 Australian shares edged higher on Monday as mining and energy stocks gained on higher commodities and oil prices, though uncertainty in the U.S-China trade war kept some investors cautious.. . .  Full story

Australia trims mining, energy export revenue for 2019/20 on trade war

30/09 Australia has scaled back its expectations for record export revenue from mining and energy in the 2019/20 financial year as trade tariffs chill global economic growth, the government said on Monday.. . .  Full story

Australia's AMP under pressure as pension clients exit

30/09 Australia's AMP Ltd has lost at least one major pension contract while other companies are reviewing their relationship with the wealth manager, which has struggled to stem a client exodus following revelations of serious misconduct.. . .  Full story

Fonterra's August milk output in New Zealand inches up

29/09 Fonterra said on Monday that milk production in August in New Zealand rose marginally, amid slightly higher rainfall and better pasture cover.. . .  Full story

Australian shares seen lower on rising trade tensions; NZ flat

29/09 Australian shares are expected to drop on Monday, as reports that U.S. President Donald Trump's administration was mulling delisting Chinese companies from local stock exchanges soured risk sentiment. The move is. . .  Full story

Australia says drought aid does not impact trade deals

29/09 The Australian government said on Sunday its financial assistance to drought-affected farmers did not contravene the country's free-trade agreements.. . .  Full story

S.Africa's Woolworths buoyed by fashion turnaround, shares rise

27/09 South African retailer Woolworths Holdings Ltd reported a 2.1% drop in annual earnings on Thursday but cheered investors with a turnaround in its Fashion, Beauty and Home business that had weighed. . .  Full story

Australia to conduct sweeping review of its retirement income system

27/09 Australian Treasurer Josh Frydenberg on Friday ordered a wide-ranging review of the country's retirement income system, saying it was necessary to check on how it might perform as Australians live longer and the population ages.. . .  Full story

Australia shares gain on firming trade deal hopes; NZ rises

27/09 Australian shares ended higher in subdued trade on Friday, led by gains in energy stocks, on rising optimism about a U.S.-China trade deal, but the market clocked its first weekly decline in six weeks.. . .  Full story

Australia pledges $68 mln more in aid to drought-stricken farmers

27/09 Australia will set aside an additional A$100 million ($68 million) to support drought-stricken farmers as continued dry weather threatens business for many growers, Prime Minister Scott Morrison said on Friday.. . .  Full story

Australia's consumer watchdog plans to beef up banking code amendments

27/09 Australia's consumer regulator said on Friday it planned to strengthen banking code amendment proposals given by a banking sector body, as it sought to adopt suggestions from an inquiry into misconduct in the country's financial. . .  Full story

Australian shares likely to open higher on strong commodity prices, rate cut hopes

27/09 Australian shares are poised to open higher on Friday, buoyed by strength in iron ore futures and oil prices, while rising expectations of a rate cut by the central bank next week may also. . .  Full story

Australia shares fall amid doubts a U.S.-China trade deal is near; NZ down

26/09 Gold miners and energy stocks pushed Australian shares down on Thursday due to lower prices while some domestic investors were sceptical about U.S. President Donald Trump's comment that a trade deal with China could. . .  Full story

Australia c.bank seen easing policy in Oct, rates seen at 0.5% by early 2020

26/09 Australia's central bank is all but certain to cut its cash rate to a record low of 0.75% next week and it will likely ease again in early 2020 to boost inflation and support. . .  Full story

Australian treasurer says regulators shouldn't overly restrict loans

26/09 Australia's treasurer said on Thursday regulators needed to ensure they were not overly tough in enforcing lending rules after an inquiry called for stricter enforcement of standards, saying restricting credit could further weaken the economy.. . .  Full story

Australia shares set to open higher on Sino-U.S. trade talk optimism

26/09 Australian shares are poised to open higher on Thursday, tracking an upbeat Wall Street session, after U.S. President Donald Trump said a trade deal with China could happen sooner than expected.. . .  Full story

Australian shares end lower on Trump impeachment move, NZ inches up

25/09 Australian shares closed lower on Wednesday as investor confidence was dealt a fresh blow after U.S. lawmakers called for an impeachment inquiry into President Donald Trump, raising the risk of prolonged political infighting in the. . .  Full story

New Zealand central bank stands pat, flags scope for more stimulus

25/09 New Zealand's central bank on Wednesday held the official cash rate (OCR) at a record-low 1.0%, as expected, but said there is scope for more fiscal and monetary stimulus to support an economy facing. . .  Full story

Australia shares fall on Trump impeachment inquiry; NZ steady

25/09 Australian shares fell on Wednesday after the U.S. House of Representatives opened an impeachment inquiry into President Donald Trump, while signs of more tensions in U.S.-China trade relations further undermined appetite for riskier assets.. . .  Full story

Australia shares set to open lower as political uncertainty, falling commodity prices loom

25/09 Australian shares are likely to open lower on Wednesday, tracking a dismal Wall Street session as a push for the impeachment of U.S. President Donald Trump heightens political risks, while falling iron ore and. . .  Full story

COLUMN-China's coal imports have been robust, but winter crunch looms: Russell

24/09 China's coal imports have grown strongly so far this year, but this may be about to change, assuming Beijing takes steps to ensure that growth for the whole of 2019 is more or less. . .  Full story

Australia shares tread water ahead of c.bank governor's speech; NZ slips

24/09 Australian shares barely changed on Tuesday, ahead of a speech by the central bank governor, as gains in the financial sector were offset by declines for some resource stocks.. . .  Full story

Australia shares edge higher helped by financials, gold stocks; NZ down

24/09 Australian shares inched up on Tuesday, as declines in the resource sector were balanced by gains among the "Big Four" banks while investors awaited a speech by the central bank governor later in the. . .  Full story

Australia shares set to open slightly lower as mixed U.S. data trims risk sentiment

24/09 Australian shares are set to open slightly lower on Tuesday, tracking a lackluster Wall Street as mixed U.S. economic data kept risk sentiment in check. U.S. employment in the services sector shrank. . .  Full story

Navis begins $500 mln-plus sale of Australia education equipment co-sources

23/09 Malaysian private equity firm Navis Capital Partners said on Monday it had put its education supplies company Modern Star up for sale, and two sources said it was seeking over A$800 million ($542 million). . .  Full story

Australian stockbroker Morgans picks up CBA's CommSec advisory unit

23/09 Australian stockbroker Morgans on Monday said it would take over the advisory business of Commonwealth Bank of Australia's online stockbroking firm, CommSec, for an undisclosed sum.. . .  Full story

Australia shares gain as rate cut hopes solidify; New Zealand up

23/09 Australian shares rose on Monday, as hopes of an interest rate cut by the central bank at its October meeting firmed up following last week's dismal domestic unemployment data.. . .  Full story

Australia shares gain on rate cut prospects; NZ up

23/09 Australian shares rose on Monday, boosted by rising bets the central bank could cut interest rates as early as October after weak jobs data last week sparked expectations of more stimulus.. . .  Full story

Australian shares set to open flat as China-U.S. trade talk uncertainty looms

23/09 Australian shares are likely to open subdued on Monday, tracking a lackluster Wall Street, after a Chinese agricultural delegation set to visit U.S. farm states canceled its trip to Montana, casting uncertainty over the China-U.S.. . .  Full story

Australia shares mark fifth weekly gain on hopes of policy easing

20/09 Australian shares closed higher on Friday, marking their fifth straight weekly gain, as dismal jobs data stoked expectations of a domestic rate next month amid slowdown concerns.. . .  Full story