Australia Financial News

Swedish private equity firm EQT Partners has agreed to buy VetPartners for approximately $1.4 billion, inking one of this year’s fastest transactions.

New Zealand's immigration numbers have hit an all-time high, enabling employers to fill jobs but also putting pressure on the housing market, according to economists. The net number of immigrants was 110,000 in the year ending August, beating the previous high of 103,000 set a month earlier, according to figures released Wednesday by Statistics New Zealand. The numbers represent a big turnaround after more people left New Zealand than arrived during much of the COVID-19 pandemic. “We are talking very, very big numbers for a small economy like ours,” said Jarrod Kerr, chief economist at Kiwibank. Kerr said the surge likely reflected pent-up demand that had built during the pandemic. He said it had come as a relief to employers, who last year were having great difficulty finding skilled workers to fill vacant roles. New Zealand's unemployment rate remains at a relatively low 3.6 per cent.

Indonesia is in discussions with Australia about a possible joint bid to host the 2034 World Cup along with Malaysia and Singapore, the president of the country's football federation (PSSI) said on Wednesday. World football's governing body FIFA invited member associations from Asia and Oceania to bid for the rights to the 2034 edition last week. «We are discussing (a bid) with Australia,» PSSI President Erick Thohir was quoted as saying by the Sydney Morning Herald. «When I visited Malaysia and Singapore both countries expressed interest to join Indonesia and Australia.» When asked for comment on a possible joint bid, Football Australia referred Reuters to a statement last week that said it was «exploring the possibility of bidding for the 2029 FIFA Club World Cup and/or the FIFA World Cup 2034». The PSSI has not responded to a Reuters request for comment. After announcing Spain, Morocco and Portugal would host the 2030 World Cup, with Uruguay, Paraguay and Argentina staging the opening games, FIFA invited Asia and Oceania to bid for 2034. Saudi Arabia quickly announced its intention to bid for the hosting rights and FIFA have set a deadline of Oct. 31 for other interested parties to make their intentions known. With Qatar having hosted the 2022 edition, Thohir said it might be too soon for the World Cup to return to the Middle East. «We are quite strong,» he said.

It’s down to the short strokes for Albemarle’s due diligence at Liontown Resources but for Tim Goyder, it is business as usual at his other portfolio companies.

Telstra plans to use its $267.5 million purchase of cloud computing specialist Versent to sell more services to international corporate and government customers as Australia’s biggest telco strengthens its digital services.

Among the senior business executives and politicians hobnobbing at the AFL and NRL grand finals last week were two understated poms who were actually star guests.

Nifty 50 closed 178 points, or 0.91%, higher at 19,689.85 and the Sensex ended the day at 66,079.36, up 567 points, or 0.87%. “A lot of stock specific action would be seen over the next 45 days as the earnings get declared. On the index front, Nifty might continue with its consolidation with bouts of volatility as it would track the geo-political development, US bond yields and oil prices amidst result announcements," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

IAG has been surprised again by a jump in costs from past claims, with the insurance giant partly blaming high inflation for bumping up the price of fixing cars.

At Vinnies’ Dandenong South warehouse, 230 solar panels have slashed the non-profit’s power bill from $1800 a month to $300. The big saving came via a series of deals brokered by AGL Energy with the charity’s landlords.

Another day, another battery deal. Street Talk can reveal Amp Energy, a Canadian renewable energy infrastructure player backed by global investment firm The Carlyle Group, is in the market searching for a buyer for its portfolio of local renewable generation and storage assets.

A summer of blackouts has emerged as a real risk of Australia’s creaking power system, increasing the likelihood of extra government intervention in a desperate bid to close the gap between the reality of the faltering energy transition and the ambition of 2030 climate targets.

Food price inflation is set to ease, discount chain Aldi is still winning share from the majors and supplier margins are coming under pressure, according to the latest industry survey by Jarden and the Australian Food & Grocery Council.

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The Albanese government is moving to regulate Apple Pay, Google Pay and other new digital payment services by expanding the Reserve Bank’s powers, with draft legislation to be released on Wednesday.

₹6 lakh per ODI ( ₹3 lakh if not part of playing XI) Australian players get A$15,000 ( ₹8 lakh) per match Indian players also have annual retainer contracts in crores, depending on their grade (A+ contracts are worth ₹7 crore, A worth ₹5 crore and so on) Australia too has retainer contracts in place, but the value is not known South Africa has retainer contracts (but no per-match fee) Disney Star (previously Star India) secured exclusive media rights for the ICC World Cup 2023, under a pact valued at $2.02 billion covering 2015-2023. The ICC projects returns surpassing $500 million from this year's World Cup alone.

Christopher Joye (pictured) is CIO and portfolio manager at Coolabah Capital Management.

World shares are higher after Wall Street advanced on potentially encouraging news about interest rates, which have been dragging markets lower since the summer

Energy ministers from Australia’s two biggest states have called for the nation to “get on” with building transmission networks as TransGrid boss Brett Redman warned the electricity operator was prepared to compulsorily acquire properties along the route of the proposed 360-kilometre HumeLink.

Judo Bank revealed its plans to raise capital with one of the financial markets’ more arcane, and recently controversial, instruments – additional tier 1 hybrid bonds – on Tuesday.

Gina Rinehart has reinforced her potential blocking stake in takeover target Liontown Resources, as $6.6 billion suitor Albemarle weighs up its next move after reaching the end of a four-week due diligence period.