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Australia/Oceania

Australia’s ANZ Group Reports Flat Earnings Amid Global Trade Disruptions

Market realignment and alterations in international commerce were identified by Australias ANZ Group as the primary reasons for its stagnant firsthalf

Market realignment and alterations in international commerce were identified by Australias ANZ Group as the primary reasons for its stagnant firsthalf earnings. Trade flows are disrupted, necessitating companies to adjust their strategies and reallocate funds, according to outgoing CEO Shayne Elliott. ANZs cash profit stood at A$3.57 billion, slightly exceeding expectations but affected by intense competition in home loans. The restructuring of home loans led to a 48% surge in gross impaired assets, while the banks net interest margin remained steady at 1.56%. With the A$4.5 billion acquisition of Suncorp Bank, ANZ also bolstered its institutional lending. Rather than declining, Elliott emphasised that global economic activity will reorganise, positioning ANZ for longterm resilience. Read More..

B2B Tech News | 10 days ago         

Gold Fields Acquires Gold Road for $2.4 Billion Amid Gold Price Surge

The Gruyere gold mine in Western Australia will now be owned by South Africas Gold Fields after the two countries agreed to pay $2.4 billion to acquir

The Gruyere gold mine in Western Australia will now be owned by South Africas Gold Fields after the two countries agreed to pay $2.4 billion to acquire Australias Gold Road Resources. Finalised after Gold Road turned down a previous approach, the deal offers a 43% premium to the companys March closing price, valuing it at A$3.7 billion. The purchase coincides with recordhigh gold prices—above $3,000 per troy ounce—which are driving a surge in mergers in the gold industry. CEO of Gold Fields Mike Fraser highlighted the strategic advantages, pointing to increased production potential and land availability. The business will reinforce its worldwide mining portfolio by financing the acquisition using bridge finance and robust cash flow. Read More..

B2B Tech News | 11 days ago         

Woodside Energy and BP Ink LNG Supply Deal for Louisiana Project

For the Louisiana LNG project, Woodside Energy, the biggest gas producer in Australia, has inked a longterm LNG supply contract with BP. The contract

For the Louisiana LNG project, Woodside Energy, the biggest gas producer in Australia, has inked a longterm LNG supply contract with BP. The contract supports Woodsides goal of producing 24 million tonnes of LNG annually Mtpa worldwide by 2030, which entails up to 640 billion cubic feet of natural gas. The project, which was purchased for $1.2 billion from Tellurian, is anticipated to yield an internal rate of return of 13% and $2 billion in net operating cash annually. Additionally, Woodside paid $5.7 billion to American investor Stonepeak for a 40% share in the Louisiana LNG plant. The partnership demonstrates Woodsides approach to utilising BPs lowmethaneintensity gas supply capabilities while meeting the worlds expanding energy needs. Read More..

B2B Tech News | 18 days ago         

New Zealand’s Foreign Minister Calls for Stronger U.S. Role in IndoPacific

In light of changing security concerns, New Zealands Foreign Minister Winston Peters reaffirmed the nations close ties with the United States and emph

In light of changing security concerns, New Zealands Foreign Minister Winston Peters reaffirmed the nations close ties with the United States and emphasised its significance in the IndoPacific area. While in Hawaii, Peters emphasised the two countries common strategic objectives, especially in the Pacific, where they work together to thwart Chinas expanding might. He stressed the necessity of an involved and aggressive U.S. presence and urged further collaboration on security, political, and economic matters. New Zealands commitment to regional stability and relationships was further reinforced during the visit by talks with regional representatives from Palau, Micronesia, and the Marshall Islands and officials from the U.S. IndoPacific Command. New Zealand is pushing for greater U.S. involvement in the Pacific, and this diplomatic engagement demonstrates that. Read More..

B2B Tech News | 24 days ago         

Luxon Advocates for CPTPP and EU Collaboration Amid Global Trade Disruptions

In light of the interruptions to global commerce brought on by U.S. tariffs, New Zealand Prime Minister Christopher Luxon is scheduled to meet with fo

In light of the interruptions to global commerce brought on by U.S. tariffs, New Zealand Prime Minister Christopher Luxon is scheduled to meet with foreign leaders to support rulesbased free trade. The Comprehensive and Progressive Agreement for TransPacific Partnership CPTPP will be strengthened, and Luxon intends to explore cooperation with the European Union. He stressed the significance of standing up for the institutions that support New Zealands economic interests. Later this month, Luxon is scheduled to travel to the United Kingdom to meet with Prime Minister Keir Starmer to address geopolitical, trade, and security issues. This programme is an example of New Zealands proactive approach to fostering international collaboration and overcoming trade obstacles. Read More..

B2B Tech News | 1 months ago         

Coordinated Cyberattack Hits Australian Pension Funds, Compromising 20,000 Accounts

Over 20,000 member accounts of several Australian pension funds were compromised in a coordinated cyberattack. REST, Hostplus, Insignia Financial, Aus

Over 20,000 member accounts of several Australian pension funds were compromised in a coordinated cyberattack. REST, Hostplus, Insignia Financial, AustralianSuper, and Australian Retirement Trust are among the major funds impacted. Unauthorised withdrawals totalling AUD 500,000 were made by hackers using passwords they had obtained to gain access to accounts. The funds have acted immediately, including adopting cybersecurity protocols and closing portals. In order to prevent future intrusions, authorities are focusing on implementing reforms such as obligatory multifactor authentication and bolstering security measures. Vulnerabilities in Australias AUD 4.2 trillion superannuation sector are highlighted by this occurrence. Read More..

B2B Tech News | 1 months ago         

RBA Expected to Hold Cash Rate at 4.10% in April Amid Inflation Concerns

A Reuters poll predicts that the Reserve Bank of Australia RBA will maintain its cash rate at 4.10% at its April 2025 meeting. The RBA is expected to

A Reuters poll predicts that the Reserve Bank of Australia RBA will maintain its cash rate at 4.10% at its April 2025 meeting. The RBA is expected to hold off on making any more adjustments until it sees more convincing evidence of reducing inflation. However, after the release of comprehensive inflation statistics in May, a 25 basis point rate drop is anticipated. To prevent overheating the housing market, the RBA is nonetheless wary about aggressive easing, even though it has already enacted one rate decrease this year, in February. The RBAs target inflation range of 23% has been reached, but core inflation of 3.2% is still concerning. This methodical approach reflects the RBAs emphasis on striking a balance between economic growth and inflation control. Read More..

B2B Tech News | 1 months ago         

Australias Inflation Stabilizes at 2.5% in January 2025

Given that the Consumer Price Index CPI increased by 2.5 per cent in the 12 months ending in January 2025, Australias inflation rate appears to be sta

Given that the Consumer Price Index CPI increased by 2.5 per cent in the 12 months ending in January 2025, Australias inflation rate appears to be stabilising. Housing +2.1%, food and nonalcoholic beverages +3.3%, and alcohol and tobacco +6.4% are the main causes of this increase. However, a notable 11.5% drop in electricity prices helped to counterbalance the overall increase. With both increasing pressures in some areas and relief in others, these numbers point to a balanced inflationary tendency. To inform its choices on monetary policy, the Reserve Bank of Australia is keeping a careful eye on these developments. Read More..

B2B Tech News | 1 months ago         



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