Doubts over Qantas Airways Ltd.’s plan to stem losses pushed bond risk for Australia’s biggest carrier above that of Air France-KLM Group, which is attempting a turnaround from near bankruptcy.
Steelmakers in Japan and South Korea may have their earnings “squeezed” after BHP Billiton Ltd. won a 55 percent price gain for its coking coal, Moody’s Investors Service said.
Moody’s Investors Service raised its rating of Foster’s Group Ltd. by one level to Baa1, its third-lowest investment-grade, following the acquisition by SABMiller Plc.
Telstra Corp., Australia’s biggest phone company, agreed to hand over its fixed-line assets in exchange for A$11 billion ($11.6 billion) to clear the way for the rollout of a government-owned high speed internet network.
Australian and New Zealand consumers are showing signs of resilience as slower growth in Asia and Europe’s debt crisis inhibit a global expansion.
"The trajectory for restoration of international's return to profitability would now appear to be some considerable way off."
- Ian Lewis on Mar 16, 2014