Asian stocks fell this week, with the regional benchmark gauge declining the most since August, amid concern improving U.S. economic data will spur the Federal Reserve to pare stimulus as soon as this month.
Most Asian stocks fell, with the regional benchmark index posting its biggest weekly drop since August, as improving U.S. economic data fueled speculation the Federal Reserve may bring forward stimulus cuts.
Qantas Airways Ltd.’s credit rating was cut to junk at Standard & Poor’s a day after the carrier flagged a record first-half loss and 1,000 job cuts. The shares fell to the lowest since July 2012 and bond risk soared.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.
What makes Virgin Australia Holdings Ltd., the second-largest competitor in a market with only 23 million passengers, such an attractive takeover target? The chance to weaken Qantas Airways Ltd. on international routes.
A potential purchase of a stake in Qantas Airways Ltd. by the Australian government may spur a rally in the carrier’s debt as the move would boost support for the company’s investment-grade credit rating.
The Australian government’s decision to block Archer-Daniels-Midland Co.’s takeover of GrainCorp Ltd. comes 12 weeks after Prime Minister Tony Abbott’s election-night vow that Australia is open for business.
Qantas Airways Ltd. rose the most in seven weeks after the government said it was considering whether to lift a cap on foreign ownership of the airline to “level the playing field” with Virgin Australia Holdings Ltd.