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Billionaire James Packer won regulatory approval to lift Crown Ltd.’s stake in rival Echo Entertainment Group Ltd., intensifying competition for control of Sydney’s only casino.
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Boral Ltd. shares slid to the lowest price in almost four months after the building-products maker said third-quarter profit in its construction materials division missed forecasts due to Australian housing-market weakness.
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Whole milk powder fell for the first time this year amid signs that New Zealand’s most widespread drought in at least 30 years may ease, according to Fonterra Cooperative Group Ltd.
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The owners of Z Energy Ltd., a gas station operator that supplies a third of New Zealand’s fuel, appointed bankers to advise on the possible sale of as much as 60 percent of the company to the public.
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Australia’s Liberal-National coalition plans to build a national broadband network for A$30 billion ($31 billion) and connect all households to high-speed internet by 2016 if it wins government in elections Sept. 14.
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Australian Prime Minister Julia Gillard’s ruling Labor government narrowed the gap against the opposition in an opinion poll, consolidating her leadership five months before an election.
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Australian Prime Minister Julia Gillard survived as Labor leader today and called on the governing party to unite before elections in six months, after predecessor Kevin Rudd declined to challenge her in a ballot.
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Treasurer Wayne Swan announced plans to curb tax concessions for wealthy Australians saving for their retirement amid government efforts to plug a budget deficit and make the A$1.5 trillion ($1.6 trillion) pension system more sustainable.
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Australia & New Zealand Banking Group Ltd. said the departure of Alex Thursby, who spearheaded an Asian expansion, won’t alter its growth plans in the region.
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Fidelity Investments’s plan to move 1,100 jobs out of Massachusetts has prompted lawmakers to look into whether they can claw back tax breaks for the second- largest U.S. mutual-fund company.
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