Royal Dutch Shell Plc’s long-awaited sale of its $6.4 billion stake in Woodside Petroleum Ltd. may open the door for Asian buyers to grab a slice of Australia’s second-largest oil and gas producer, or even the whole company.
BKK Partners Pty , the advisory firm whose partners include former Australian treasurer Peter Costello , plans to start investment funds to bet on growth at home in industries such as resources and agriculture.
ASX Ltd. has hired a former adviser to Tony Abbott , Australia’s parliamentary opposition leader, to lobby lawmakers in support of its takeover by Singapore Exchange Ltd., three people familiar with the situation said.
Viewed from afar, even the bad news in Australia looks pretty good. Unemployment reached a three- year high last month and is now all of 5.6 percent. Leaders such as U.S. President Barack Obama and French President Francois Hollande would kill for such a number. Australia has avoided a recession for 21 years, boasts a budget remarkably close to surplus and continues to enjoy low inflation. On any economic report card, the country deserves a string of A’s.
Tony Abbott as health minister gave an “iron-clad” guarantee not to reduce government assistance for medical bills before the 2004 election. Soon after the vote, he buckled when the Cabinet dumped his pledge as too costly.
Reappointing or extending Reserve Bank of Australia Governor Glenn Stevens’s term may pose the easiest political option for the government, which is trailing in opinion polls six months ahead of the federal election.