Australia

A second wave of corporate collapses is still causing headaches for Australia’s banks even after many declared the worst was behind them on the bad-debt front, The Sydney Morning Herald reported. Cubbie Station, a giant cotton farm in Queensland' ...

Daily Headline - global.abi.org - 11/25/2009 - 09:24 - 0 comments

The future of the Unanderra-based Wideform Group of Companies is up in the air with suggestions that a major bank lender may be pulling back support for the business, the Illawarra Mercury reported. The Australian Financial Review (AFR) today reporte ...

Daily Headline - global.abi.org - 11/23/2009 - 09:04 - 0 comments

Authorities in Britain and Australia have requested information from UBS after the Swiss bank agreed in August to disclose some 4,450 client names to settle a U.S. tax case, the bank confirmed on Sunday, Reuters reported. UBS said in a note to its third- ...

Daily Headline - global.abi.org - 11/09/2009 - 11:57 - 0 comments

The closure of four schools in Australia has left at least 400 Chinese students high and dry, prompting China's consulate in Sydney to caution against studying in the land down under, China Daily reported. Meridian International was one of four ...

Daily Headline - global.abi.org - 11/09/2009 - 11:57 - 0 comments

Tomato processing company Cedenco Foods Australia has been placed into receivership but its processing facility will operate as usual, the Brisbane Times reported. This comes after Cedenco Foods in New Zealand was placed in receivership. The company ...

Daily Headline - global.abi.org - 11/09/2009 - 11:55 - 0 comments

Hopes have soared that huge amounts of water from Australia's most famous cotton farm could return to the Murray Darling river system, after administrators were appointed to handle the affairs of Queensland's Cubbie Station, The Sydney Mornin ...

Daily Headline - global.abi.org - 10/29/2009 - 10:46 - 0 comments

National Australia Bank Ltd., the country’s biggest corporate lender, turned to its first loss in at least nine years after charges for bad debts climbed and it set aside funds for a tax settlement in New Zealand, Bloomberg reported. The net loss of A$75 ...

Daily Headline - global.abi.org - 10/28/2009 - 11:03 - 0 comments

India’s central bank took the first step toward withdrawing its record monetary stimulus as inflation pressures build, ordering lenders to keep more cash in government bonds, Bloomberg reported. Stocks fell the most in two months after the statement spur ...

Daily Headline - global.abi.org - 10/27/2009 - 09:58 - 0 comments

Australian assembler and distributor, TodayTech, has gone into voluntary administration three months after losing a direct supplier relationship with key vendor partner, Intel. Rob Whitton of William Buck Chartered Accountants was appointed administrator ...

Daily Headline - global.abi.org - 10/08/2009 - 09:34 - 0 comments

Timbercorp’s forestry assets have been sold for about $345 million to Australian Bluegum Plantations, a wholly owned subsidiary of US timber investment fund Global Forest Partners, The Australian reported. The company intends to set up its headquarte ...

Daily Headline - global.abi.org - 10/01/2009 - 08:33 - 0 comments