Australian hot-air balloon crash injures at least seven

By Elouise Fowler SYDNEY, Feb 8 : A hot-air balloon, hit by a surprise weather change, crash-landed on Thursday in a field near Australia’s southern city of Melbourne, injuring at least seven tourists on board, officials said. Police said the passengers, some from Australia and others from overseas, fell from the basket as the pilot […]

Australia amends proposed foreign interference law to offer protections for journalists – minister

By Colin Packham SYDNEY, Feb 8 : Australia’s will amend its proposed new laws designed to prevent further meddling from China in its domestic politics to offer protections to journalists amid concerns that reporters could be imprisoned for receiving classified information. Australian Prime Minister Malcolm Turnbull in December said Beijing was improperly interfering in Canberra’s […]

Australia gives regulator sweeping powers over bank bosses’ pay

By Colin Packham and Byron Kaye SYDNEY, Feb 7 : Australia has given its financial regulator sweeping powers to cap bank bosses’ pays, delay their bonuses and even ban them from the industry if found guilty of non-compliance, as it scrambles to restore trust in the scandal-hit sector. The move underscores the immense pressure on […]

Australia’s upbeat on economy, keeps policy unchanged

By Swati Pandey SYDNEY, Feb 6 : Australia’s central bank struck an upbeat tune about the country’s economy on Tuesday, steering a steady rate path at its first meeting of 2018 even as global markets went into a tailspin. The Reserve Bank of Australia’s (RBA) optimism was underpinned by solid economic data in recent weeks, […]

Australia, NZ dlrs shoved aside in global rush to safety

By Wayne Cole SYDNEY/WELLINGTON, Feb 6 : The Australian dollar was on the defensive on Tuesday as a rout in global share markets sparked a flight to safe havens, while local economic data proved too mixed to offer much support. The Reserve Bank of Australia (RBA) went out of its way not to rock any […]

Australian shares open the week in red; NZ falls

By Ambar Warrick Undated, Feb 5 : Australian shares recorded their biggest fall since August on Monday as broad-based losses dragged the benchmark into negative territory. The S&P/ASX 200 index fell 73.1 points or 1.2 percent to 6,048.3 by 0057 GMT following a 0.5 percent gain on Friday. “I think the key driver is the […]