Sectors - Stock Market - Business Review Australia

Singapore Airlines Ups Its Stake In Virgin Australia

Singapore Airlines, the largest carrier in Southeast Asia has announced it will be increasing its stake in Virgin Australia. The alliance between the two brands will help to take on the dominance of Qantas in the local market

Macmahon Holdings Shares Jump with $1.8b Deal

Macmahon Holdings will provide services to support the expansion of Fortescue Metal Group's Christmas Creek iron ore mine

David Jones Takeover Bid Withdrawn; Shares Plummet

David Jones is currently being questioned by the Australian Securities and Investments Commission to find out whether the retailer kept investors informed about John Edgar's failed bid, which offered AU$1.65 billion for the store chain

'Qantas Could Go Under,' says CEO Joyce

The Flying Kangaroo may disappear from Australia's skies if the state-owned Etihad invests in Virgin Australia to the point where Qantas' profitable domestic routes are disrupted.

ASX Braces for More Pain on Trading Floor

The RBA will decide tomorrow if another interest rate cut is necessary to help stimulate spending in Australia

Qantas Splits International and Domestic Operations

Each branch of Qantas' business - Qantas International, Qantas Domestic, Jetstar Group and Qantas Frequent Flyer - will report separately, ensuring each unit is held accountable for its actions

Qantas Cuts 500 Engineers from Victorian Airports

Qantas is said to be the only major airline in the world to continue its own maintenance

Takeover of Norton Gold Imminent

The biggest shareholder in Norton Gold Fields, Zijin, has announced a $229 million indicative takeover offer of the Kalgoorlie-based miner

ASX Market Cap Report

The ASX is currently undertaking a review of its market for Mid-Cap, Small-Cap and Micro-Cap securities, focusing on Australia's resource-sector companies

ACCC Approves Banks' Experian Investments

The ACCC announced this week that it is approving six banks each taking a 4 per cent shareholding in Experian Australia Credit Services

CBA CEO Ralph Norris Stepping Down From His Post

In a surprising move, Commonwealth Bank CEO Ralph Norris stepped down from his post as the leader of one of Australia's largest financial institutions

Top Financial Websites

Australia's top financial websites not only offer stock quotes and market data, but resources, education tools, expert opinions and beyond

Chi-X Hires Competitor ASX for Trading Services

Chi-X will use the ASX for its clearing and settlement services, despite the ASX being its major trading competitor

Wayne Swan Delivers the Federal Budget

Treasurer Wayne Swan's budget includes $22 billion in cuts over four years, as well as no income tax cut

ASX and SGX Merger Denied by Wayne Swan

The Foreign Investment Review Board on behalf Wayne Swan unanimously rejected the proposed merger between ASX and SGX

Australian Dollar Hits Record High, Shows No Signs of Slowing Down

It seems that global investors are catching onto the Australian resources boom, and the value of the Australian dollar is rising as a result. The Australian dollar hit a 28-year high Monday, hitting $US1.0314, a 10.5 per cent jump...

Bank of Melbourne Brand to Get Makeover by Westpac

The Bank of Melbourne will be reinstated today in Victoria, after it was consolidated under the Westpac brand in 2004.

Julia Gillard Meets Barack Obama at to Discuss Pacific Trade Relations

Julia Gillard is in the US this week, making her first visit there since she was elected as Australian Prime Minister last year. On Monday, Gillard met with President Barack Obama to discuss shared trade and political interests.

Chi-X Australia Gearing Up to Steal ASX Market Share by October

The Australian Securities and Investments Commission is paving the way for alternative stock market operator Chi-X Australia to enter the market to directly compete with the Australian Securities Exchange by the October or November. The Australian corporate regulator, ASIC,...

Breaking News: Centro Properties' US Assets Purchased by Blackstone

There are rumblings in the investment industry that US private equity firm Blackstone Group is paying US$9.4 billion for Centro Properties’ US assets, which is comprised of 588 shopping centres.

Qantas Fuels Up for 2011 with News of Profit Rise and Fleet Expansion

Floods, Cyclones, Bushfires and the UK: Why IAG's Profits are Down

Insurance Australia Group is reporting that its profits have dropped nearly 3.7 percent for the half year ending December 31, citing losses in the UK and payouts related to the recent severe weather events Australia has experienced. Insurance profit...

Australia's Industry Leaders Downgrading Profit Outlooks Due to Floods

As Australia emerges from the wake of the devastating floods that occurred in Queensland over the last month, business leaders across a variety of sectors are also reeling from the devastation the weather vent left on their profits.

ASX Gets Nod from ACCC for Singapore Exchange Bid

The ASX is one step closer to making a bid for the Singapore Exchange (SGX) after learning Wednesday that the Australian Competition and Consumer Commission will not oppose the proposed acquisition.

Qantas, Rolls Royce Still Reeling from Aircraft Engine Issues

Following the grounding of Qantas’ A380 aircrafts due to engine failure with its Rolls-Royce engines, both the Australian airline and British manufacturer are performing major damage control.

Qantas Eyes Expansion into Asia as it Approaches its 90th Birthday

Qantas is not shy about its ambitions to expand into China, saying that it is an “unmistakable opportunity.” In the company’s annual meeting held Friday in Sydney, Qantas CEO Alan Joyce said “significant opportunities will be unleashed,” based on...

ANZ's $5 Billion Profit Ignites Hockey and Smith Conflict

A $5 billion profit is nothing to sneer at, is it? Perhaps it is if you’re wondering what is going on with the nation’s banking profits and lending rates.

James Packer Raids Ten Networks with 20% Share Purchase

Ten Network has reported that Australian business tycoon James Packer has acquired an interest of approximately 20 percent of the issued capital of the network for $1.50 per share.

What Does Gail Kelly Have in Common with Lady Gaga?

Australia’s very own Gail Kelly has joined the ranks of Oprah Winfrey and Lady Gaga on Forbes magazine’s list of the world’s ten most powerful women.

Still Not Enough Women in Australian Boardrooms

New research released by the Equal Opportunity for Women in the Workplace Agency (EOWA) has revealed that there are only five female chairs and six female CEOs in the top 200 Australian companies.

Stockland Becomes Majority Owner in Aevum

Stockland has achieved a 54.56 percent majority stake in retirement village operator, Aevum, which automatically extends its unconditional and final cash offer to acquire Aevum until October 13. Stockland owned 39 percent until close of trade Wednesday. Aevum shareholders...

ASX Begins Search for New CEO

The current chief executive of the Australian Securities Exchange, Robert Elstone, will not renew his contract in July 2011.

ANZ Bank gets the go-ahead for expansion into China

ANZ will begin banking in China under its subsidiary ANZ China on October 1, following final regulatory approval from the China Banking Regulatory Commission (CBRC) earlier this month.

Sydney Airport hosts record number of August travelers

Sydney Airport recorded its strongest August ever for international, domestic and total traffic with an average of 95,000 passengers daily, representing 7.6 percent overall growth.

Macquarie Group warns of 25 percent profit decline

Macquarie Group Limited has warned that profits for the first-half of the year will be down by 25 percent.

Jetset and Stella Travel get merger approval from ACCC

The Australian Competition and Consumer Commission (ACCC) announced that it will allow Jetset Travelworld to buy Stella Travel Services. “The ACCC conducted an extensive review of this transaction to ensure that it would not adversely impact Australian travelers,” ACCC...

Intoll accepts CPPIB's A$3.4 billion takeover bid

Toll road operator Intoll Group announced Friday that it has accepted Canada Pension Plan Investment Board (CPPIB)’s A$3.4 billion takeover bid at a final cash offer of $1.52 a share. Intoll Chairman Paul McClintock said that the Intoll Directors...

Suncorp: Insurance and Wealth Mgmt. arms drive profits

Suncorp reported an annual net profit of A$780 million, up significantly from $348 million from the prior year. The financial institution said that each of its business lines delivered improved underlying results, with profits after tax up 37 percent....

CBA: Opens first Indian branch in Mumbai

Commonwealth Bank of Australia (CBA) announced that it has opened its first Indian branch in Mumbai to provide trade finance, remittance and foreign exchange to organizations that trade between Australia and India. The new branch will also serve the...

Commonwealth Bank reports full-year net profit of $5.6 bill

The Commonwealth Bank of Australia (CBA) reported a full-year net profit of A$5.6 billion profit and a cash profit of $6.1 billion. In a statement from CBA, CEO Ralph Norris said, “Our financial strength and the resilience of our...

ACCC to consult market on NAB's proposed AXA takeover

The Australian Competition and Consumer Commission (ACCC) said Monday that it will consult the market regarding National Australia Bank Ltd.’s (NAB) proposed takeover of AXA Asia Pacific Holdings Limited (AXA). In a statement, the ACCC said it the consultation...

Air New Zealand rejects claims it bought Virgin shares

On Friday, Air New Zealand denied that it has purchased any shares in Virgin Blue. “Any such purchase would require FIRB approval in accordance with the Australian Government Policy on foreign investment due to the substantial ownership of Air New Zealand by the New Zealand Government,” Air New Zealand said in a statement.

ASIC will become market supervisor August 1

The Australian Securities & Investments Commission (ASIC) will take over the domestic market supervisor role now being performed by the Australian Securities Exchange (ASX) starting August 1. The announcement was made by the Minister for Financial Services, Superannuation and...

Valemus: Lodges IPO Prospectus on ASX

Construction group Valemus Limited, formerly Bilfinger Berger Australia, announced Tuesday its prospectus for an initial public offering on the Australian Securities Exchange. According to a release from the company, the offering intends to raise up to A$1.39 billion based...

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