Qantas Airways Ltd.’s credit rating was cut to junk at Standard & Poor’s a day after the carrier flagged a record first-half loss and 1,000 job cuts. The shares fell to the lowest since July 2012 and bond risk soared.
Australian banks are set for a lending boost as Prime Minister Tony Abbott champions ventures to revitalize the economy, accelerating some of the more than A$80 billion ($72 billion) of infrastructure projects.
Australia’s dollar was set to match its longest stretch of weekly declines since 1985 before a U.S. jobs report that may cement the timing of a tapering in Federal Reserve stimulus, curbing risk appetite.
England batsman Jonathan Trott must overcome his doubts -- and those of teammates and supporters -- to return from the stress-related illness that knocked him out of the Ashes cricket series, a London-based psychiatrist involved in elite sports said.
What makes Virgin Australia Holdings Ltd., the second-largest competitor in a market with only 23 million passengers, such an attractive takeover target? The chance to weaken Qantas Airways Ltd. on international routes.
GrainCorp Ltd., eastern Australia’s largest grain handler, said Chief Executive Officer Alison Watkins resigned after a A$2.2 billion ($2 billion) takeover bid by Archer-Daniels-Midland Co. was blocked by Australia.