Tina Ford, an Australian public servant, said she could hardly believe it when her three-bedroom apartment sold this month for A$1 million ($877,000) at an auction in which all 16 registered bidders were ethnic Chinese.
Westfield Group, Australia’s biggest mall operator, plans to split its domestic and international businesses, advancing a separation of assets that began three years ago. Its shares jumped by the most in almost 22 months.
Australia’s richest man, Frank Lowy , is lobbying to convince soccer’s governing body that his adopted homeland deserves the 2022 World Cup, and says he thinks the bid will regain a vote when a suspended voter is replaced.
The net worth of Australia’s richest individual, Gina Rinehart, has declined by $2.7 billion to $15.2 billion after revenue and earnings slipped at her closely held iron-ore mining company Hancock Prospecting Pty Ltd.
LHC Capital Pty, a Sydney-based hedge-fund manager, is seeking money from family offices to double its size after returning 33 percent this year, making it the best performer in Australia among funds with more than A$50 million ($47 million).