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Oct 9, 2014

National Australia Bank says UK charges to hit FY earnings

SYDNEY (Reuters) – National Australia Bank Ltd (NAB.AX: Quote, Profile, Research, Stock Buzz) warned on Thursday its full-year cash earnings will fall as much as 14 percent due to almost A$1 billion ($881.4 million) in higher charges from its troubled UK business.

NAB, Australia’s fourth-largest bank by market value, said it would post annual cash earnings of A$5.1 billion to A$5.2 billion, compared with an average estimate of A$6.2 billion from 16 analysts polled by Thomson Reuters and a record cash profit of A$5.9 billion a year earlier.

Oct 3, 2014

Australia authorizes special forces troops to go to Iraq

SYDNEY (Reuters) – Australian special forces troops will be deployed in Iraq to assist in the fight against Islamic State militants, Prime Minister Tony Abbott said on Friday, and its aircraft will also join U.S.-led coalition strikes.

Abbott said in a nationally televised news conference the Australian troops would be engaged in an “advise and assist” capacity to support the Iraqi army in their battle against the militant Islamist group.

Oct 3, 2014

Australia to probe sexual abuse claims at Nauru refugee center

SYDNEY (Reuters) – Australia will investigate sexual abuse claims at its refugee detention center on Nauru, the government said on Friday, while removing 10 aid workers from the South Pacific island following reports of coaching detainees to commit self-harm protests.

Australia’s tough policies aimed at stopping asylum seekers reaching the country by boat include sending migrants to camps in impoverished Papua New Guinea and Nauru, where they face long periods of detention while they are processed.

Sep 30, 2014

Australian police charge man over funding “terrorist organisation” after raids

SYDNEY (Reuters) – Australian police raided homes in Melbourne on Tuesday and charged one man with funding a terrorist organisation in a crackdown on radical Islamists who authorities believe are supporting Middle East militants or planning attacks at home.

The operation, following information from the U.S. Federal Bureau of Investigation, was much smaller than raids earlier this month that authorities say thwarted a plan for a random beheading.

Sep 30, 2014

Australian counter-terrorism police raid Melbourne properties

SYDNEY (Reuters) – Australian police said they had raided a number of properties around the southern city of Melbourne on Tuesday, part of a security crackdown on radical Islamists authorities believe are planning attacks in the country.

Australia, which is backing the United States and its escalating action against Islamic State in Syria and Iraq, is on high alert for attacks by radicalised Muslims or by home-grown militants returning from fighting in the Middle East.

Sep 26, 2014

Australia’s Mineralogy seeks termination of CITIC iron ore lease

SYDNEY, Sept 26 (Reuters) – Mineralogy Ltd, the resources
company of mining magnate and Australian politician Clive
Palmer, is seeking to terminate the mining rights of CITIC Ltd’s
massive Sino Iron Project, ramping up a bitter dispute
between the two companies.

The $9.6 billion project in Western Australia, China’s
biggest overseas mining investment, has been a huge headache for
Beijing after starting exports more than three years behind
schedule and nearly four times over budget.

Sep 24, 2014

Australia police kill ‘terror suspect’ after two officers stabbed

SYDNEY (Reuters) – Australian police shot dead a teenager they said was a terror suspect after he stabbed two officers, days after sweeping raids involving hundreds of police thwarted what they said was an imminent plot to behead a member of the public.

Australia, a staunch ally of the United States and its escalating action against the Islamic State in Syria and Iraq, is on high alert for attacks by home-grown militants returning from fighting in the Middle East.

Sep 23, 2014

Australia counter-terror police kill man after two officers stabbed

SYDNEY (Reuters) – Australian police said they shot dead a man after he stabbed two counter-terrorism officers, just days after sweeping raids involving hundreds of police thwarted what they said was an imminent plot to behead a member of the public.

Australia, a staunch ally of the United States and its escalating action against the Islamic State in Syria and Iraq, is on high alert for attacks by home-grown militants returning from fighting in the Middle East.

Sep 20, 2014

As G20 chases growth goal, members differ on how to get there

CAIRNS Australia (Reuters) – As the Group of 20 leading economies meet to change no less than the “destiny” of the global economy, members remain divided on how to get there with Germany pushing back at U.S. calls for more government stimulus.

Opening the meeting of finance ministers and central bankers, Australian Treasurer Joe Hockey outlined an ambitious agenda of boosting world growth, fireproofing the global banking system and closing tax loopholes for giant multi-nationals.

Sep 19, 2014

US Treasury’s Lew calls for euro zone, Japan to do more on growth

CAIRNS, Australia, Sept 19 (Reuters) – U.S. Treasury
Secretary Jack Lew on Friday called on the euro zone and Japan
to do more to spur growth as the global economy continues to
disappoint, highlighting what is sure to be a bone of contention
as Group of 20 ministers gather in Australia.

While lauding the strength of the U.S. economy, Lew said
more work was needed to achieve faster and more balanced
economic growth and to boost demand.

    • About Lincoln

      "Company news sub editor on the Asia Desk in Singapore. Previously European Investment Correspondent in London and Correspondent in New Zealand."
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