Category: Australias
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Australia’s Star Entertainment halts trading to assess impact of regulatory findings By Reuters
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Star Entertainment said on Friday its Australian-listed shares had been halted from trading so the casino operator could absorb the fallout from a scathing report into its corporate culture and assess the implications for its 2024 financial results. Earlier this year, the New South Wales Independent Casino Commission (NICC) appointed…
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Australia’s Inflation Cooled To Multi-month Lows But Remained Sticky High In July
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Data from the Australian Bureau of Statistics showed that inflation in Australia rose by 3.5% YoY in Julyslower than the 3.8% increase in June and the lowest since March but higher than the 3.4% rise markets had expected. One reason for the decline may be that the expanded Commonwealth Energy…
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Australia’s Westpac posts steady Q3 profit, helped by higher capital earnings By Reuters
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(Reuters) – Australia Westpac Banking New York Stock Exchange (NYSE:) Corp. said Monday that third-quarter net income was largely in line with a year ago, as higher gains on capital and protected deposits offset rising expenses and bad loans. Based on the company’s average quarterly performance in the first half…
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Australia’s ASX Faces Lawsuit Over ‘Misleading’ Blockchain Project Claims—Details
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A press release Reports published earlier today by the Australian Securities and Investments Commission (ASIC) revealed that the country’s largest stock market operator, ASX Limited, is now facing legal challenges following the operator’s alleged misleading statements about its temporarily suspended blockchain project. The project was originally set to revamp the…
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Australia’s ASX Faces Lawsuit Over ‘Misleading’ Blockchain Project Claims—Details
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A press release Reports published earlier today by the Australian Securities and Investments Commission (ASIC) revealed that the country’s largest stock market operator, ASX Limited, is now facing legal challenges following the operator’s alleged misleading statements about its temporarily suspended blockchain project. The project was originally set to revamp the…
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Australia’s CBA beats annual profit forecast, extends shares rally By Reuters
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Written by Sameer Manikkar (Reuters) – Commonwealth Bank of Australia, the country’s largest lender, reported a smaller-than-expected fall in annual cash profit on Wednesday and announced its highest ever dividend, despite falling margins and rising mortgage overdue payments. Cash profits were A$9.84 billion (US$6.52 billion) for the year to June…
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Australia’s Challenger climbs to 1-1/2-year high on bright outlook, annual earnings beat By Reuters
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By Rajasik Mukherjee (Reuters) – Challenger Ltd shares rose to their highest in about 16 months on Tuesday after the Australian investment manager beat estimates on annual profit, while investors also welcomed its earnings outlook for fiscal 2025. The stock rose about 10% to its highest level since Feb. 20,…
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Australia’s police joins global campaign to disrupt crypto scams
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The Australian Federal Police has teamed up with Chainalysis to identify more than 2,000 hacked cryptocurrency wallets owned by Australians. Australia’s national police agency, the Australian Federal Police, has partnered with blockchain forensics specialist Chainalysis to combat cryptocurrency fraudsters as the number of hacked cryptocurrency wallets belonging to Australians has…
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Australia’s police joins global campaign to disrupt crypto scams
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The Australian Federal Police has teamed up with Chainalysis to identify more than 2,000 hacked cryptocurrency wallets owned by Australians. Australia’s national police agency, the Australian Federal Police, has partnered with blockchain forensics specialist Chainalysis to combat cryptocurrency fraudsters as the number of hacked cryptocurrency wallets belonging to Australians has…
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Australia’s AUSTRAC warns of crypto’s growing role in illicit activities
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Australia’s financial regulator has expressed concern over the surge in the use of digital currency to facilitate illicit transactions. According to the 2024 National Money Laundering Risk Assessment by the Australian Transaction Reports and Analysis Centre (AUSTRAC), a financial intelligence agency, the country has seen a rise in the criminal…
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Australia’s Headline CPI Jumped to Six-Month High of 4.0% in May
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The Australian CPI report for May surprised market expectations, with headline inflation rising from 3.6% to 4.0% y/y in May versus consensus of 3.8%. Components of the report indicated that the gains were driven by increases in housing, transportation, and tobacco prices. Link to Australian CPI report for May 2024…
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Bitcoin ETF launches on Australia’s main stock exchange for the first time By Reuters
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Written by Lewis Jackson SYDNEY (Reuters) – A bitcoin exchange-traded fund (ETF) launched on Australia’s main stock market for the first time on Thursday, as fund managers launched products to please investors returning to cryptocurrency markets after a price boom. The VanEck ETF with assets of about A$990,000 (US$660,429) has…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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Australia’s largest bank shuts down stablecoin project: report
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National Australia Bank has reportedly halted development of its own stablecoin called AUDN just a year after such plans were first revealed. National Australia Bank (NAB), one of Australia’s four largest financial institutions, has quietly stopped work on its Ethereum-based stablecoin, with the team responsible for development reportedly leaving the…
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VanEck bags Australia’s first spot Bitcoin ETF
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Asset management firm VanEck is set to launch Australia’s first spot bitcoin investment fund. According to a blog update, the Australian Securities Exchange (ASX) approved the listing of the VanEck Bitcoin ETF on June 20. The giant money manager said its offering would be the lowest-cost Bitcoin ETF in Australia.…
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Australia’s Tabcorp appoints former AFL boss Gillon McLachlan as CEO By Reuters
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(Reuters) – Australian gambling services company Tabcorp Holdings on Monday appointed former Australian Football League (AFL) president Gillon McLachlan as its chief executive and managing director. The appointment comes months after former president Adam Rettenskilde resigned over allegations of using “offensive” and “inappropriate” language in the workplace and as the…
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Australia’s GDP Grew Slower Than Expected in Q1 2024
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The Australian economy grew by 0.1% q/q in the first quarter of 2024, slower than the 0.3% q/q rise in the previous quarter and the 0.2% q/q increase that markets had expected. Overall, there was weak domestic demand as increased consumer spending was offset by a decline in aggregate investment.…