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☆ Macquarie, Columbia Asia among bidders for Ramsay-Sime Darby $1.3 bln healthcare JV - sources
▼ + stars: | 2023-09-13 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +1 min

REUTERS/FILE/David Gray Acquire Licensing RightsSept 13 (Reuters) - Australia's Macquarie (MQG.AX) and Malaysian hospital chain Columbia Asia are among the bidders for the acquisition of a healthcare joint venture between Ramsay Health Care and Sime Darby, according to sources familiar with the matter. Ramsay Health Care (RHC.AX) and Malaysian conglomerate Sime Darby (SIME.KL) in June announced their plan to sell Ramsay Sime Darby Health Care (RSD) in a deal that could value the Asia-focused joint venture at 6 billion ringgit ($1.28 billion). Macquarie has been investing in the healthcare sector since 2005 and has been operating in Malaysia for over 24 years, while Columbia Asia has been running medical facilities across Southeast Asia with significant presence in Malaysia. Bloomberg had earlier reported that a unit of Kuala Lumpur- listed Sunway Bhd was also among the shortlisted bidders along with Columbia Asia and Macquarie. Columbia Asia, Macquarie, Sunway, Ramsay and Sime Darby did not immediately respond to a request for comment.

Persons: David Gray, Macquarie, Sime Darby, Ramsay, Ramsay Sime Darby, Rishav Chatterjee, Saumyadeb Organizations: Macquarie Group Ltd, Ramsay Health Care, Sime, Ramsay Sime, Ramsay Sime Darby Health, IHH Healthcare, KKR, Co Inc, Columbia, Bloomberg, Thomson Locations: Sydney, Australia, Columbia Asia, Malaysian, Asia, Malaysia, Southeast Asia, Kuala Lumpur, Macquarie . Columbia Asia, Macquarie, Sunway, Bengaluru, Yantoultra, Singapore

The lower-ranking Federal Court in 2021 found Qantas broke the law by outsourcing the ground handling jobs, but the airline appealed the ruling in the High Court which upheld the decision on Thursday. The matter now returns to the Federal Court which will decide penalties and compensation for affected employees. "These workers have been put through hell," said Michael Kaine, secretary of the Transport Workers Union (TWU) which brought the lawsuit. Qantas said in a statement that it accepted the High Court decision and noted the Federal Court had already ruled out forcing the company to reinstate the workers. It said it had already made an unspecified provision in its accounts for penalties and compensation for affected employees after the Federal Court decision.

Persons: David Gray, Michael Kaine, Kaine, Byron Kaye, Roushni Nair, Subhranshu Sahu, Jamie Freed Organizations: Qantas Airways Airbus, Sydney Airport, REUTERS, Rights, Qantas Airways, Australia, Qantas, Qatar Airways, Federal, Transport Workers Union, Thomson Locations: Australia, Sydney, Bengaluru

☆ New Zealand forecasts much larger budget deficit but improved economy
▼ + stars: | 2023-09-12 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File Photo Acquire Licensing RightsWELLINGTON, Sept 12 (Reuters) - New Zealand’s government on Tuesday predicted a larger budget deficit but better-than-expected economic conditions in the year ahead, as it updated forecasts heading into the October election. The government forecast a budget deficit of NZ$11.4 billion ($6.7 billion) for the year ending June 30, 2024, much larger than a deficit of NZ$7.6 billion estimated in May. The global economy has deteriorated since May, which is having a direct impact on New Zealand's economy while tax revenue is also falling, Finance Minister Grant Robertson said in a statement. "Treasury’s latest forecasts show the economy isn’t working for Kiwis," said National Party leader Christopher Luxon. ($1 = 1.6926 New Zealand dollars)Reporting by Lucy Craymer; Editing by Sam Holmes and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Grant Robertson, Robertson, ", Christopher Luxon, Lucy Craymer, Sam Holmes, Edwina Gibbs Organizations: REUTERS, Rights, Finance, Zealanders, Treasury, Kiwis, National Party, Reserve Bank of New, Zealand, Thomson Locations: Wellington , New Zealand, Reserve Bank of New Zealand

Leon Neal/AFP/Getty Images2008: iPhone 3G, meet the App StoreWith the second version of the iPhone, Apple introduces the App Store and 3G connectivity. Stephen Lam/Reuters2016: iPhone SE, a budget optionTaking a step back, the iPhone SE is a cheaper, smaller device than the 6S, giving customers a chance to enjoy Apple’s phones at a much lower cost. People handle the new Apple iPhone XS and iPhone XS Max during a media tour at an Apple office in Shanghai, China, on September 21, 2018. Brendon Thorne/Bloomberg/Getty Images2020: iPhone 12 Mini, small but mightyThe iPhone 12 mini is smaller than the usual iPhone but packs a powerful punch. Mike Segar/Reuters2021: iPhone 13 Series, same price for more spaceThe iPhone 13 stays at the same price as the iPhone 12 with double the storage space, as well as featuring a much smaller top notch.

Persons: Steve Jobs, John Green, ” Jobs, Leon Neal, Justin Sullivan, Siri, FaceTime, “, ”, Jobs, Michael Nagle, Apple, Seth K, Hughes, Akio Kon, David Gray, Tim Cook, Josh Edelson, Stephen Lam, David Paul Morris, Phil Schiller, Aly Song, Max, Jason Lee, Pro Max, Phil Barker, Brendon Thorne, Mike Segar, Gabby Jones, Andrew Kelly Organizations: New, New York CNN, Apple, Macworld, Bay Area, Getty, Lightning, Bloomberg, Apple Inc, Worldwide, Steve Jobs, Steve, Pro, Future Publishing Locations: New York, San Francisco, London, AFP, San Francisco , California, New York City, Cupertino , California, Ginza, Tokyo, Japan, Sydney, Shanghai, China, Beijing, Australia, Manhattan , New York

☆ Russian court rejects Goldman request to dismiss Otkritie lawsuit
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsMOSCOW, Sept 8 (Reuters) - A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs (GS.N) request to dismiss a $6.3 million lawsuit by Russia's Otkritie (OPENI.MM), which is owned by state bank VTB (VTBR.MM). A lawyer for Goldman had argued on Thursday that the Moscow court had no jurisdiction and the case should instead be heard in London. At Otkritie's request, Goldman's assets in Russia, including its 5% stake in Russia's largest toy retailer, Detsky Mir (DSKY.MM), were sequestered last month. Otkritie says in a filing with the court that Goldman cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt.

Persons: Goldman Sachs, David Gray, Russia's Otkritie, Goldman, Otkritie, Detsky Mir, Kevin Liffey, Alexander Smith Organizations: REUTERS, Rights, Moscow, Reuters, Thomson Locations: Sydney, Australia, Moscow, London, Russia, United States, Britain, Ukraine

☆ Australia passes law to encourage competition for main market operator ASX
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A pedestrian is reflected in a window where an investor sits looking at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia February 9, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies ASX Ltd FollowSYDNEY, Sept 6 (Reuters) - Australia passed a law on Wednesday to support competition in post-trade settlement and clearing for financial markets, challenging the near-monopoly status held by ASX Ltd (ASX.AX). After ASX cancelled a costly overhaul of its trading platform, the federal government said it was opening up the market to let other players in. Though Australian financial regulators have called for greater competition in clearing and settlement functions for years, a failed overhaul of ASX's all-in-one legacy software system renewed pressure from market participants to challenge its near-monopoly. In other major financial markets, clearing and settlement, or confirming the transfer of stock ownership and updating share registries, are managed by separate entities to the market operator.

Persons: David Gray, Jim Chalmers, Byron Kaye, Simon Cameron, Moore Organizations: Australian Securities Exchange, REUTERS, ASX Ltd, Senate, Reserve Bank of Australia, Australian Securities and Investments, Thomson Locations: Sydney, Australia

☆ Invasive species cost the world $423 billion every year and are causing environmental chaos, UN report finds
▼ + stars: | 2023-09-05 | by ( Helen Regan | ) edition.cnn.com time to read: +13 min

Scroll through the gallery to see more of the planet's most problematic invasive species. Sarefo / Wikimedia Commons In pictures: Invasive species around the world Prev Next‘Prevention, prevention, prevention’Along with invasive species, other key drivers of biodiversity loss include destruction of land and sea habitats, exploitation of organisms, climate change and pollution. As well as flammable invasive plants sparking and spreading wildfires, climate change is enabling invasive species to move north – even to remote areas such as high mountains, deserts and frozen tundra. Preventing the arrival of new species into new regions is the best way to manage threats from invasive species, according to the report. For invasive species that have already taken hold, eradication has been a useful tool, especially on islands, according to the report.

Persons: ”, Helen Roy, ” Roy, David Gray, Peter Stoett, Anibal Pauchard, Ian Hitchcock, Starling, MENAHEM KAHANA, Phil Mislinski, Jeff J Mitchell, SANJAY KANOJIA, MUNIR UZ ZAMAN, ” Stoett, Stoett, –, ” Pauchard Organizations: CNN, United Nations, UN, Services, billabong, Nile Virus, Ontario Tech University, Chile’s Institute of Ecology, Pacific, World Wildlife Fund, US Department of Agriculture, USA, Studies, New Zealand Government, European, Starlings, AFP, Getty, North, Wikimedia Locations: Darwin, Australia, Africa, Caribbean, Guam, North America, Hawaii, Maui, Antarctica, Pacific, North, South America, Azov, China, Japan, Europe, Bermuda, New Zealand, New York, USA, Australasia, South Africa, United States, AFP, East Africa, Western Asia, Americas, Kenya, India, Puerto Rico, Kunming, Montreal

Warmer temperatures under climate change are expected to further drive the expansion of invasive species. Invasive species are plants or animals, often moved around by human activity, that take hold in an environment with deleterious effects. ERADICATING INVADERSAbout three-quarters of the negative impacts from invasive species occur on land, especially in forests, woodlands, and farmed areas. Getting rid of invasive species once they are established, however, is difficult. Last December, the world's governments committed in the Kunming-Montreal Global Biodiversity Framework to reducing the introduction and establishment of priority invasive species by at least 50 percent by 2030.

Persons: Graeme Sawyer, David Gray, Helen Roy, Anibal Pauchard, Roy, Gloria Dickie, Angus MacSwan Organizations: Northern Territory, billabong, REUTERS, United Nations Intergovernmental, Services, Chile's Institute of Ecology, Thomson Locations: Darwin, Hawaii, Africa, West Nile, New Zealand, Kunming, Montreal, London

☆ Australia Q2 business investment hits highest in 7-1/2 years
▼ + stars: | 2023-08-31 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

The central business district (CBD) of Melbourne can be seen from the area located along the Yarra River called Southbank located in Melbourne, Australia, July 27, 2016. Spending of A$37.58 billion ($24.43 billion) was the highest since late 2015, while investment in equipment reached a record peak of A$17.53 billion. Firms also lifted spending plans for the fiscal year to June 2024 to A$157.8 billion, up 14.5% on the previous quarter. Figures for gross domestic product (GDP) for the June quarter are due next week and analysts are tipping growth of only around 0.3%. ($1 = 1.5370 Australian dollars)Reporting by Wayne Cole; Editing by Christopher Cushing and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Nomura, Andrew Ticehurst, Wayne Cole, Christopher Cushing, Stephen Coates Organizations: REUTERS, Rights, Australian Bureau, Statistics, Reserve Bank of Australia, Investors, Thomson Locations: Melbourne, Southbank, Australia

☆ New Zealand plans digital services tax for multinationals from 2025
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray/File Photo Acquire Licensing RightsAug 29 (Reuters) - New Zealand said on Tuesday it would introduce legislation for a digital services tax on large multinational companies from 2025 after talks for a global rollout did not reach consensus at the Organization for Economic Cooperation and Development (OECD). But the proposal was pushed back last month after countries with digital services taxes, with the exception of Canada, agreed to hold off applying them for at least another year. The proposed digital services tax will target multinational businesses that earn income from New Zealand users of social media platforms, search engines, and online marketplaces. The tax would be payable by businesses that make over 750 million euros ($812 million) a year from global digital services and over NZ$3.5 million a year from digital services provided to New Zealand users. The tax would be applied at 3% on gross taxable New Zealand digital services revenue, a similar rate adopted by comparable countries like France and the United Kingdom.

Persons: David Gray, Grant Robertson, Renju Jose, Lincoln Organizations: REUTERS, Organization for Economic Cooperation, Development, Apple, Finance, Kiwis, NZ, Thomson Locations: Wellington, New Zealand, Canada, Zealand, France, United Kingdom, Sydney

A worker walks near conveyer belts loaded with iron ore at the Fortescue Solomon iron ore mine located in the Valley of the Kings, around 400 km (248 miles) south of Port Hedland in the Pilbara region of Western Australia December 2, 2013. The world's fourth-largest iron ore miner, which has been beset by senior management turnover over the past two years, earlier in the day announced the resignation of its metals division head and co-CEO Fiona Hick. Fortescue shares, up nearly 2.1% so far this year, fell as much as 6% to A$19.7 by 0200 GMT. A review of its assets at the company's Iron Bridge project resulted in a pre-tax impairment charge of $1 billion. The company said rising interest rates and industry-wide inflation had fuelled the asset write-down at its Iron Bridge project, a major plank in the group's growth strategy.

Persons: Fortescue Solomon, David Gray, Australia's Fortescue, Fiona Hick, Fortescue, Echha Jain, Roushni Nair, Rashmi Organizations: REUTERS, Metals, Fortescue Future Industries, Fortescue Energy, Gibson, Phoenix Hydrogen, Thomson Locations: Port Hedland, Pilbara, Western Australia, Australia, Bengaluru

☆ Telstra Chairman Mullen to retire after 15 years
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

A pedestrian walks past a Telstra logo adorning a phone booth in the central business district (CBD) of Sydney in Australia, February 13, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsAug 28 (Reuters) - Australia's Telstra (TLS.AX) said on Monday that its chairman John Mullen would retire at the conclusion of this year’s annual meeting on October 17. After serving on the telecom major's board for 15 years, the company said Mullen will be succeeded as chairman by current director Craig Dunn. Mullen served as chairman for the past seven years. The country's largest telecoms firm expects underlying EBITDA between A$8.2 billion and A$8.4 billion ($5.38 billion)for fiscal 2024, higher than A$7.86 billion in the previous year.

Persons: David Gray, John Mullen, Mullen, Craig Dunn, Dunn, Aishwarya Nair, Diane Craft Organizations: Telstra, REUTERS, Australia's Telstra, Risk, Thomson Locations: Sydney, Australia, Asia, Bengaluru

☆ Australia hurt by inflation but unlikely to enter recession - NAB CEO
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

A customer looks at products marked with discounted prices on display at a chemist in a shopping mall in central Sydney, Australia, July 25, 2018. "Inflation, while slowing, has hurt Australians more during the past 18 months than it has for three decades," National Australia Bank (NAB) CEO Ross McEwan said in a speech at the Australia-Israel Chamber of Commerce. "There is a lot of discussion as to whether Australia will head into a recession as we do have many headwinds. NAB and the three other large lenders which dominate Australia's A$2 trillion ($1.3 trillion) mortgage market have recorded only modest increases in late repayments as unemployment remains near record lows. Immigration to Australia has returned to levels similar to before COVID-19 prompted global border closures, leading to a shortage of housing and underpinning prices.

Persons: David Gray, Ross McEwan, McEwan, Byron Kaye, Himani Sarkar Organizations: REUTERS, Rights, National Australia Bank, NAB, Israel Chamber of Commerce, Reserve Bank, Thomson Locations: Sydney, Australia, Israel, COVID, Lincoln

☆ Worker strike at South32's Appin mine extended by a week - trade union
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies South32 Ltd FollowAug 22 (Reuters) - Australian trade union Collieries' Staff and Officials Association (CSOA) on Tuesday said mining supervisors voted to extend their work stoppage at South32's (S32.AX) Appin mine for one more week. The strike, which was due to end on Aug. 25, has been extended till Sept. 1. A South32 spokesperson told Reuters that some parts of the mine, located in New South Wales, will remain non-operational during the strike. Reporting by Himanshi Akhand and Sameer Manekar in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: South32, David Gray, Belinda Giblin, Himanshi Akhand, Sameer Manekar, Varun Organizations: REUTERS, Collieries ' Staff, Association, Reuters, Thomson Locations: Perth, Western Australia, New South Wales, Bengaluru

☆ Westpac flags higher expenses in quarterly update; shares drop
▼ + stars: | 2023-08-21 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

Shares of Sydney-based Westpac fell about 2.1% to trade at A$20.82 at 0040 GMT, hitting their lowest since July 12. Broadly, Australia's major banks have all flagged stiff competition in the mortgage space, along with higher expenses as inflationary pressures weigh. The higher interest rates have also contributed to increased living costs, which are pushing up debt arrears. Westpac did not publish a comparable quarterly net profit figure for the same period a year earlier. The figure reported on Monday was below the A$2 billion average profit for the first two quarters of fiscal 2023.

Persons: David Gray, Riya Sharma, Archishma Iyer, Sam Holmes, Christopher Cushing Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac Banking Corp, Sydney, Westpac, Citi, Commonwealth Bank of Australia, Australia Bank, Thomson Locations: Sydney, Australia

☆ Westpac flags margin squeeze from rising home loan competition
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/David Gray Acquire Licensing RightsSummaryCompanies Reports quarterly cash profit A$1.8 billionLate loan repayments rises to 0.8% in AustraliaCET1 Ratio of 11.9%Aug 21 (Reuters) - Westpac Banking Corp (WBC.AX), Australia's third-largest lender, on Monday posted a quarterly cash profit of A$1.8 billion ($1.15 billion), as increased competition for home lending squeezed margins. Australia's major banks have all flagged stiff competition in the mortgage space, along with higher expenses as inflationary pressures weigh. Sydney-based Westpac said expenses for the second half to date were up 5% from the first half, fuelled by higher supplier costs and staff wages. In Australia, loan repayments past 90 days late rose to 0.80% in the three-months ended June, up 7 basis points from 0.73% in March, Westpac said. The lender reported a core net interest margin of 1.86% for the quarter, down 4 basis points from the first half of fiscal 2023.

Persons: David Gray, Riya Sharma, Archishma Iyer, Lisa Shumaker, Sam Holmes Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac Banking Corp, Westpac, Commonwealth Bank of Australia, Australia Bank, Thomson Locations: Sydney, Australia

☆ Australia's Telstra shelves InfraCo stake sale plan, shares down
▼ + stars: | 2023-08-17 | by ( Poonam Behura | ) www.reuters.com time to read: +2 min

The country's largest telecoms firm decided against selling a stake in InfraCo Fixed, saying the unit "plays an important role" in achieving its long-term goals. InfraCo Fixed posted a 4.1% rise in annual income to A$2.56 billion ($1.64 billion), contributing 11% to Telstra's total income of A$23.25 billion. Telstra is targeting net cost reductions of A$500 million and mid-single digit underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) growth through to FY25. It expects underlying EBITDA between A$8.2 billion and A$8.4 billion for fiscal 2024, higher than A$7.86 billion in the previous year. We remain absolutely committed to delivering our FY25 underlying EBITDA and EPS growth ambitions," Brady said.

Persons: David Gray, Henry Jennings, Vicki Brady, Brady, Poonam Behura, Anil D'Silva, Subhranshu Organizations: Telstra, REUTERS, Australia's Telstra, InfraCo, Marcustoday, TPG Telecom, Thomson Locations: Sydney, Australia, Bengaluru

☆ Australia July jobs take a surprise fall as market loosens
▼ + stars: | 2023-08-17 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

A worker pushes a trolley loaded with goods past a construction site in the central business district (CBD) of Sydney in Australia, March 15, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Aug 17 (Reuters) - Australia employment unexpectedly fell in July to end two months of very strong growth, while the jobless rate ticked higher in a sign the drum-tight labour market might finally be loosening. "Even so, the deterioration in the labour market has a long way to run before the RBA can completely relax." The labour market has proved remarkably resilient with 399,000 net jobs added in the 12 months to July even as interest rates have climbed 400 basis points to a decade-high of 4.1%. "It is getting harder to argue for a sustained lift in wage inflation momentum," said Justin Smirk, a senior economist at Westpac.

Persons: David Gray, Ben Udy, Justin Smirk, Wayne Cole, Jacqueline Wong, Sam Holmes Organizations: REUTERS, Rights, Bank of Australia, Australian Bureau of Statistics, ABS, Oxford Economics Australia, Westpac, Thomson Locations: Sydney, Australia

☆ Australia Q2 wage gains underwhelm, argue against further hikes
▼ + stars: | 2023-08-15 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

"Wage growth has been stuck at 0.8% q/q for the past three quarters – a somewhat surprisingly slow pace given the very low level of the unemployment rate," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Despite higher interest rates, Australia's jobless rate is hovering near 50-year low of 3.5% and the economy is adding more jobs than expected. The RBA now sees a credible path where inflation could be restrained with interest rates at their current level, minutes showed on Tuesday. The path involves annual wage growth peaking at 4.1% by the end of the year before easing back to 3.6% by end-2025, according to the bank's latest forecasts. The ABS data showed wages in the public sector picked up to an annual rise of 3.1% while growth in private sector wages increased 3.8%.

Persons: David Gray, Sean Langcake, Andrew Boak, Goldman Sachs, Stella Qiu, Kim Coghill, Sonali Paul, Simon Cameron, Moore Organizations: REUTERS, Reserve Bank of Australia, Australian Bureau, Statistics, Oxford Economics, Thomson Locations: Newcastle, Sydney, Australia, SYDNEY, Oxford Economics Australia

It's likely that the lower spot prices for iron ore in recent weeks are encouraging traders and steel mills to boost imports. The problems at Country Garden are stoking fears of contagion in China's property sector, which is facing a cash crunch. China iron ore imports vs priceLOANS TUMBLEAdding to the property woes was data released on Tuesday showing China's industrial output and retail sales slowed and undershot forecasts. Another potential factor supporting iron ore imports is the low state of port inventories, which last week dropped to the lowest in just over three years. They are also below the 138.6 million metric tons in the same week in 2022 and the 127.2 million in 2021.

Persons: Fortescue, David Gray, Refinitiv, It's, SteelHome, Robert Birsel Organizations: Port Hedland, REUTERS, HK, Reuters, Thomson Locations: Port, Pilbara, Western Australia, LAUNCESTON, Australia, China, Beijing, Singapore, China's

☆ Treasury Wine Estates profit falls on lower US sales
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Bottles of Penfolds Grange, a Treasury Wine Estates brand, on sale at a wine shop in Sydney, Australia, August 4, 2014. REUTERS/David Gray/File PhotoAug 15 (Reuters) - Australia's Treasury Wine Estates (TWE.AX) reported a 3.3% fall in annual profit on Tuesday, mainly hurt by a decline in wine sales in the United States. A decline in shipment of premium products and low availability of luxury wines pressured sales at the Treasury America segment, the largest contributor to the winemaker's revenue. The company reported a net profit after tax of A$254.5 million for the year ended June 30, compared with A$263.2 million a year earlier. Reporting by Nausheen Thusoo and John Biju in Bengaluru; Editing by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, John Mullen, Paul Rayner, Nausheen Thusoo, John Biju, Shinjini Ganguli, Shounak Organizations: Treasury Wine Estates, REUTERS, Wine Estates, Treasury America, Thomson Locations: Grange, Sydney, Australia, United States, Melbourne, Bengaluru

☆ Aussie telecom firms Telstra, TPG will not appeal block of asset transfer deal
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/David Gray/Aug 14 (Reuters) - Australian telecom firms Telstra Group (TLS.AX) and TPG Telecom (TPG.AX) on Monday said separately they would not appeal the country's competition tribunal's decision to block an asset transfer deal between the two telecom giants. In June, the Australian Competition Tribunal upheld the competition regulator's decision to block the deal between the telecom firms, under which Telstra would have bought spectrum and transmission towers from TPG, while TPG would have kept selling 4G and 5G coverage using Telstra infrastructure. The country's competition regulator had ruled against the asset transfer deal in December citing competition concerns and potentially impacting the no. Telstra did not provide any details about its decision to not appeal the tribunal's decision in the exchange filing, and did not immediately respond to a Reuters request for further details. TPG Telecom, which also did not provide any reason, said it would "continue to explore commercial options to expand its mobile network".

Persons: David Gray, Sameer Manekar, Diane Craft Organizations: Telstra, REUTERS, Australian, Telstra Group, TPG Telecom, TPG, Optus, Singapore Telecommunications, Thomson Locations: Sydney, Australia, Bengaluru

China's increased appetite for thermal coal from Australia and Russia has led to a shift in imports by India, the world's second biggest coal buyer. From December to February India's imports of Australian thermal coal had been above 1 million metric tons per month, peaking in January at 1.79 million. In contrast India is turning back to thermal coal from Indonesia, with July arrivals of 6.87 million metric tons, up from 6.04 million in June. For July, Indonesia's share of India's thermal coal imports was 63%, which was the highest since the 65% in April. China and India both generally import Australian thermal coal of a lower energy value than the traditional buyers of Japan, South Korea and Taiwan.

Persons: David Gray, it's, Indonesia's, Shri Navaratnam Organizations: REUTERS, Labor Party, Liberal, National, China, Argus, Reuters, Thomson Locations: Ulan, New South Wales, Mudgee, Australia, LAUNCESTON, Beijing, Asia, China, Mongolia, Indonesia, Russia, India, Japan, South Korea, Taiwan, Australia's Newcastle, Ukraine

☆ New Zealand govt pledges gender pay gap reporting
▼ + stars: | 2023-08-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

REUTERS/David Gray/File PhotoWELLINGTON, Aug 11 (Reuters) - New Zealand's Labour government, trailing in opinion polls ahead of an October election, said on Friday it plans to require large firms to publish gender pay gap data in an effort to get equal pay for the country’s women. With only two months to the Oct. 14 polls the government will need to be re-election or gain bipartisan support after the polls for the gender pay gap policy to be legislated. It said it plans initially to require 900 public sector companies, which employ more than 250 employees each, to report their gender pay gap. “Countries we compare ourselves to including Australia, Canada, and the United Kingdom have already successfully introduced gender pay gap reporting. As of June 30, the gender pay gap in the public service was 7.7%, according to data from the Public Service Commission.

Persons: David Gray, ”, Women Jan Tinetti, Lucy Craymer, Michael Perry Organizations: REUTERS, Zealand's Labour, Women, Public Service Commission, Labour Party, Curia Market Research, National, ACT, Thomson Locations: Wellington, New Zealand, Australia, Canada, United Kingdom

☆ Chevron, Woodside in talks to avert strikes at Australian LNG operations
▼ + stars: | 2023-08-10 | by ( Renju Jose | ) www.reuters.com time to read: +3 min

Concerns over potential industrial action at three Australian LNG operations - North West Shelf, Gorgon and Wheatstone - sent European gas prices to a nearly 2-month high on Wednesday. Any industrial action would disrupt Australia's LNG exports and increase competition for the super-chilled fuel, forcing Asian buyers to outbid European buyers to attract LNG cargoes. About 99% of workers at offshore platforms that supply gas to the Woodside-operated North West Shelf LNG plant, Australia's biggest LNG plant, have voted in favour of a planned strike. Chevron said it was reviewing the applications from the union to Australia's independent Fair Work Commission (FWC) over planned strikes at its Gorgon and Wheatstone LNG plants. Gorgon, the country's second largest LNG plant, has capacity of 15.6 million metric tons a year and Wheatstone 8.9 million.

Persons: David Gray, Gorgon, Wheatstone, Brad Gandy, Woodside, Renju Jose, Jacqueline Wong, Sonali Paul Organizations: Woodside Petroleum, REUTERS, Northwest Shelf, Chevron, Woodside Energy Group, North West, North West Shelf, LNG, West Shelf, Offshore Alliance, Shell, Wheatstone, Thomson Locations: Sydney, Australia, SYDNEY, Japan, Woodside, Chevron

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