Tuesday, February 4

Tag: Australia/Oceania

Australia’s Manufacturing Sector Likely on Track for a Soft Landing, PMI Data Shows
1Jan By adminNo Comments
World

Australia’s Manufacturing Sector Likely on Track for a Soft Landing, PMI Data Shows

SYDNEY—A slowdown in Australia’s manufacturing sector continued through December, with activity contracting over the month as the broader economy lost momentum due to the impact of higher interest rates.Still, the rate of slowdown is consistent with a soft landing for manufacturers in 2024, according to Judo Bank.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Mitsubishi UFJ Agrees to Buy Australia’s Link Administration
18Dec By adminNo Comments
World

Mitsubishi UFJ Agrees to Buy Australia’s Link Administration

SYDNEY—Mitsubishi UFJ Financial Group agreed to buy Link Administration in a deal valuing the Australian financial technology company’s equity at 1.2 billion Australian dollars (US$800 million).Link on Monday said its board had unanimously recommended that shareholders vote in favor of the deal, in the absence of a superior proposal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Glynn’s Take: Squeeze on Australian Households Worse Than Thought
14Dec By adminNo Comments
World

Glynn’s Take: Squeeze on Australian Households Worse Than Thought

Dec. 13, 2023 9:21 pm ET|WSJ ProSYDNEY—The squeeze on Australian household budgets appears much worse than thought, with a sharp surge in tax payments adding to the pain already being felt from soaring interest rates.For the Reserve Bank of Australia, which outwardly at least still appears hawkish, the pain being felt across suburbia looks set to quash any remaining thoughts of a further rise in interest rates next year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Financial Services Roundup: Market Talk
13Dec By adminNo Comments
World

Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0348 GMT – Australia’s comparatively drier weather should help protect insurer profitability due to lower catastrophe costs, say Morgan Stanley analysts in a note. With rainfall in Australian capital cities at 10-year lows in the year to date, IAG and Suncorp are being set up to over-earn in FY 2024, MS says. History shows that a 2%-3% change in domestic motor vehicle insurance loss ratios is possible from an increase or reduction in rainfall, although this will also depend on how well insurers manage pricing versus claims inflation, says MS. At the same time, a new government reinsurance pool should protect insurers from Cyclone Jasper, and help them come in below the...
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Australian Builders Reject Moves to Sting Foreign Investors in Housing
11Dec By adminNo Comments
World

Australian Builders Reject Moves to Sting Foreign Investors in Housing

Updated Dec. 10, 2023 9:09 pm ETSYDNEY—Australian home builders have rejected federal government plans to sharply increase penalties on foreign investors in the housing market, saying the measures will further erode new home supply, not add to it.Treasurer Jim Chalmers announced Sunday that foreign investors who buy established homes will face a tripling in government fees, which will increase further if the home is left vacant.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Sigma Healthcare Agrees to $5.79 Billion Merger With Pharmacy Chain
11Dec By adminNo Comments
World

Sigma Healthcare Agrees to $5.79 Billion Merger With Pharmacy Chain

SYDNEY—Australian drug supplier Sigma Healthcare agreed to merge with privately owned pharmacy operator CW Group, creating a listed company worth more than 8.8 billion Australian dollars (US$5.79 billion).Sigma on Monday said it would pay A$700 million in cash and issue sufficient new shares for CW Group, the operator of Australia’s prominent Chemist Warehouse pharmacy chain, to own 86% of the combined company. Shareholders of Sigma, which has a market capitalization of A$810.4 million, would own the remainder.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Next Chips to Transform EVs Could Be Made From Wood
10Dec By adminNo Comments
World

The Next Chips to Transform EVs Could Be Made From Wood

Listen to article(2 minutes)ADELAIDE, Australia—Ivan Williams reckons he can help to break China’s dominance of a key ingredient of electric-vehicle batteries. To do so, he has been collecting wood chips from sawmills around the world.At a test plant in New Zealand’s picturesque Marlborough wine region, Williams and his team feed the wood chips into machines that turn out a form of synthetic graphite. He says the engineered material is as pure as synthetic graphite made from fossil fuels, which is mostly produced in China and can account for as much as half of the weight of a lithium-ion battery.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Next Chips to Transform EVs Could Be Made From Wood
9Dec By adminNo Comments
Money

The Next Chips to Transform EVs Could Be Made From Wood

Listen to article(2 minutes)ADELAIDE, Australia—Ivan Williams reckons he can help to break China’s dominance of a key ingredient of electric-vehicle batteries. To do so, he has been collecting wood chips from sawmills around the world.At a test plant in New Zealand’s picturesque Marlborough wine region, Williams and his team feed the wood chips into machines that turn out a form of synthetic graphite. He says the engineered material is as pure as synthetic graphite made from fossil fuels, which is mostly produced in China and can account for as much as half of the weight of a lithium-ion battery.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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