Australia’s big banks wander deeper into regulatory quagmire

By Swati Pandey SYDNEY, Apr 10 : Australian banks famously rode out the 2008 financial crisis with barely a scratch, but no longer are they the exemplar of success, as a commodity rout ravages the economy and a growing storm of accusations over misconduct threatens to tar their name. Last week, Westpac Banking Corp became […]

Australia’s Rio Tinto to take longer to pay as resource slump bites

By Peter Gosnell SYDNEY, Apr 9 : Rio Tinto, one of the world’s biggest miners, has doubled its payment terms in a move that will force embattled suppliers to wait up to 90 days to be paid. A spokesman for the mining giant confirmed the change on Saturday, saying it would sustain jobs and supplier […]

Australia, NZ dlrs head for heavy weekly losses on yen, USD

By Cecile Lefort and Charlotte Greenfield SYDNEY/WELLINGTON, Apr 8 : The Australian and New Zealand dollars nursed losses against their U.S. counterpart and yen on Friday as global growth worries resurfaced, putting them on track for heavy weekly falls. The Australian dollar held at $0.7530, having slipped 1.2 percent on Thursday and pulling away from […]

Adani wins state approval for Australian coal projec

By Tom Westbrook SYDNEY, Apr 3 : India’s Adani Enterprises Ltd was granted approval by Australia’s Queensland state government on Sunday to proceed with its proposed A$10 billion ($7.7 billion) Carmichael coal project in the Galilee Basin. Queensland Premier Annastascia Palaszczuk said the approvals gave Adani permission to mine coal reserves estimated at 11 billion […]

As El Nino lingers, some Australia farmers may have to ‘dry sow’ wheat

By Colin Packham SYDNEY, Apr 1 : Farmers in the east of Australia may be forced to sow wheat in dry land as much-needed rains are yet to arrive due to a lingering El Nino weather pattern, threatening output in one of the largest growing regions of the world’s No.4 grain exporter. Last month, east […]

Cahill brace as Australia take another step towards Russia

By Nick Mulvenney SYDNEY, Mar 29 : Tim Cahill scored twice as Australia eased into the final round of Asian qualifying for the 2018 World Cup with a convincing 5-1 victory over Harry Redknapp’s Jordan today. Cahill’s 46th and 47th international goals, combined with a first half effort from the excellent Aaron Mooy and scores […]