Australia & New Zealand
Australian, New Zealand Dollars Strengthen on Gains in Stocks, Commodities The Australian dollar advanced for
the first time in five days as global stocks rose and gold
climbed to a record. New Zealand’s dollar also gained.
Stocks Rise on Higher Metals Prices, James Hardie Forecast; Newcrest Gains Australian stocks rose after metal
prices advanced and James Hardie Industries NV said it expects
full-year earnings at the top range of analyst estimates.
Harvey Norman Holidings Says First Half Profit Should Rise More Than 40% Harvey Norman Holdings Ltd.,
Australia’s biggest electronics retailer, said first-half profit
before tax and minority interests should jump more than 40
percent after sales increased.
Lion-Asia Increases Polaris Offer, Seeks Review of Acceptance Threshold The Australian Securities and
Investments Commission declined to waive the 50.1 percent
minimum acceptance condition for Lion-Asia Resources Ltd.’s
offer for all of the shares of Polaris Metals NL.
Akzo Nobel's National Starch Unit Agrees to Buy Penford Australia Plant Akzo Nobel NV’s National Starch
business agreed to buy Penford Australia Ltd’s specialty grain
wet milling and manufacturing facility in Lane Cove, the company
said in a statement today.
British Airways May Revisit Qantas Deal, Use Iberia Model, Walsh Tells FT British Airways Plc could revive
plans for a tie-up with Qantas Airways Ltd., using its merger
with Spain’s Iberia Lineas Aereas de Espana SA as a template,
Chief Executive Officer Willie Walsh told the Financial Times.
Anchored Coal, Iron-Ore Vessels Nearing All-Time High, Global Ports Says Almost one in five capesize vessels,
used to haul coal and iron ore, are anchored at ports, close to
the all-time high reached earlier this year, Global Ports said.
Oil Rises From One-Week Low on Speculation of Demand Recovery, Weak Dollar Crude oil rose as a weaker dollar
heightened the appeal of commodities to investors and an Iranian
military exercise bolstered concern that Middle Eastern supplies
may be disrupted.
Qantas Airways Targets Capital Spending of $4 Billion in Next Two Years Qantas Airways Ltd., Australia’s
largest airline, will spend A$4.4 billion ($4 billion) over the
next two years as it purchases new aircraft and embarks on a
campaign to shore up margins.
NAB `Watching Closely' Possible Asset Sales in U.K. Bank Market, CEO Says National Australia Bank Ltd. said
it’s studying assets that may come up for sale in the U.K. after
Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc
said they would sell units and branches to meet state aid rules.
Rudd Seeks Vote on Climate Laws Before Australian Parliament Ends Nov. 26 The Australian government, which
intends to make an offer tomorrow to opposition lawmakers of a
revised carbon reduction proposal, said there is time to get
the plan through parliament before the session ends on Nov. 26.
Australian Bushfire Fighters Aided by Cooler NSW Weather, Herald Reports Cooler breezes today and tomorrow in
Australia’s New South Wales state are expected to bring relief
from 40 degree-plus Celsius (104 degrees Fahrenheit) weather and
help firefighters trying to put out bushfires, the Sydney
Morning Herald said.
Antarctica Loses Ice From Larger Eastern Side as Well as West, Study Shows Antarctica is losing ice from its
larger eastern side as well as the western part, an indication
the southernmost continent may add “significantly more” to
rising seas, researchers in Texas said.
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