Australia's GM Holden cuts 500 jobs, blames high currency
SYDNEY - General Motors Holden, the Australian unit of General Motors, is cutting 500 jobs, or 18 percent of its workforce, as the unprecedented strength of the Australian dollar has left the manufacturer unable to compete with foreign rivals.
australia
australian
currency
general motors
holden
sydney
Found 1 month ago on channel
Reuters
Australia to end interbank rate-setting panel after Libor scandal
SYDNEY - Australia is scrapping the panel that sets its interbank lending rates after an exodus of banks from the panel, the first major market to dismantle the tarnished structure in the wake of the Libor rate-rigging scandal.
australia
libor
sydney
Found 1 month ago on channel
Reuters
Leighton Chairman Quits in Rift with Hochtief
Leighton Holdings Ltd. said its chairman and two directors have resigned, a development exposing the rift between Australia's largest construction company by market value and its majority shareholder, Germany's Hochtief. Leighton's shares fell as much as 10% in Sydney trading.
australia
construction
development
germany
hochtief
holdings
leighton
majority
sydney
JPMorgan joins UBS in exit from Australia rate setting panel
SYDNEY - JPMorgan Chase & Co is pulling out of the panel that sets Australia's benchmark interbank lending rates, joining UBS in an exodus from regional rate setting panels in the wake of the Libor rate rigging scandal.
australia
chase
jpmorgan
libor
sydney
ubs
Found more than 1 month ago on channel
Reuters
Asia Markets: Asia mostly higher, earnings help Sydney
Stock markets in Asia trade mostly higher, with earnings providing a tailwind for Australia, while exporters gain in South Korea but fall in Japan.
asia
australia
japan
korea
south
sydney