Australia’s dollar held its biggest gain in two months against the greenback before Federal Reserve Chairman Ben S. Bernanke speaks in Congress tomorrow.
Australia’s dollar fell toward the lowest in three years versus its New Zealand counterpart as traders bet the interest-rate gap between the two nations will narrow.
Centrica Plc ’s Direct Energy unit may spend as much as 2 billion pounds ($3 billion) to acquire power and natural-gas assets in North America by 2015, Chief Executive Officer Chris Weston said.
Centrica Plc , the U.K.’s biggest energy supplier, plans to buy power generation and retail assets in the U.S. to double profits from North America by 2014.
Centrica Plc, the biggest power and gas supplier to U.K. homes, plans acquisitions in the U.S. as the utility tries to double profits from North America.
The following are the day's top business stories:
Peabody Energy Corp. is leaving the door open for a rival bidder to step in for Macarthur Coal Ltd. by offering less for the Australian mining company than it did last year, even as profit is projected to double.
Australia’s Sundance Resources Ltd. is giving traders a chance to double their money on the richest mining takeover in five years.
Iron ore prices may decline by as much as 11 percent on average this year because of concern that global economic growth may falter, according to IG Markets institutional dealer Chris Weston.
Iron ore, down 11 percent in the past six days, will find a floor at $120 a metric ton as Chinese steelmakers replenish stockpiles, said IG Markets institutional dealer Chris Weston.
"The fate of the markets for the rest of the day is far from certain and we should learn a lot of the psychology of the market by the end of the U.S. session. Today is non-farm payrolls day foremost, and there is every chance we see another day of heightened volatility, with almost all asset classes likely to move to an ever-changing view on QE."
- Chris Weston on Jun 06, 2013