Australia

Results for Australia

Telstra to Cut 8,000 Jobs, Sell Assets in Make-or-Break Overhaul

Telstra Corp. plans to cut 8,000 jobs, sell assets and potentially spin off a new infrastructure business in a make-or-break attempt to fend off competition, Bloomberg News reported. The stock tumbled. Australia’s former phone monopoly, which has lost mo ...

Daily Headline - global.abi.org - 06/19/2018 - 21:53 - 0 comments

Australia Holds Key Rate at 1.5% as Unemployment Edges Up

Australia left its key interest rate unchanged at a record low Tuesday after the key unemployment metric edged higher, Bloomberg News reported. Reserve Bank Governor Philip Lowe kept the cash rate at 1.5 percent, where it has stood since 2016, as expecte ...

Daily Headline - global.abi.org - 06/05/2018 - 22:39 - 0 comments

Global asset management quarterly

Welcome to the ninth edition of Global asset management quarterly. This publication highlights key developments that will be of interest to and affect our asset management clients, including market trends and developments in tax and buy-side regulation g ...

Resource Article - twallace@abiwor... - 06/01/2018 - 10:22 - 0 comments - 0 attachments

Australia's Quintis Handed Lifeline by BlackRock-Led Bondholders

Bondholders led by BlackRock Inc have agreed to inject capital into Quintis Ltd and take it private, rescuing the Australian sandalwood firm after it collapsed in the wake of a short-seller attack, Reuters reported. Between A$125 million and A$175 millio ...

Daily Headline - global.abi.org - 06/01/2018 - 14:29 - 0 comments

Santos Falls After Rejecting Harbour Offer as Too Low, Too Risky

Santos Ltd. plunged the most since 2016 after rejecting Harbour Energy Ltd.’s $10.9 billion final offer and terminating talks, saying its proposal was too low and too risky, Bloomberg News reported. The Australian oil and gas producer said Tuesday its in ...

Daily Headline - global.abi.org - 05/22/2018 - 22:57 - 0 comments

Toys ‘R’ Us Australia Placed into Voluntary Administration with Insolvency Firm McGrathNicol

Toys ‘R’ Us in Australia has lost its battle for survival with directors today putting the 44-store chain into administration. The move threatens up to 2700 jobs, including 700 full-time positions. Insolvency firm McGrathNicol said partners Jason Preston ...

Daily Headline - global.abi.org - 05/21/2018 - 23:17 - 0 comments

Australia Unemployment Rises to 9-Month High

Australia’s unemployment rate edged up to a 9-month high in April, despite an increase in the number of full-time roles, the Financial Times reported. Australia’s unemployment rate rose to seasonally-adjusted 5.6 per cent in April from 5.5 per cent i ...

Daily Headline - global.abi.org - 05/17/2018 - 00:18 - 0 comments

Australian Fashion Brand Metalicus Enters Voluntary Administration

Australian fashion brand Metalicus has entered voluntary administration and will today begin a major sale across all of its outlets, SmartCompany.com.au reported. In an email to customers on Wednesday evening, the company acknowledged the “difficult peri ...

Daily Headline - global.abi.org - 05/09/2018 - 22:19 - 0 comments

Lawyers Positive on Insolvency Law Shake-Up

Sweeping reforms to insolvency laws and regulations are set to benefit distressed companies that are attempting to negotiate a sale and avert going into administration, The Australian Financial Review reported. Local lawyers are of the view that draf ...

Daily Headline - global.abi.org - 04/20/2018 - 00:12 - 0 comments

Restructuring & Insolvency

The recent unanimous Victorian Court of Appeal decision in an appeal from Re Amerind has been widely welcomed by insolvency practitioners and others, as it brought some clarity to the question of whether the statutory order of priority applies to trust c ...

Resource Article - twallace@abiwor... - 03/13/2018 - 13:59 - 0 comments - 0 attachments

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