By Chibuike Oguh NEW YORK (Reuters) – The asset management arm of Australian bank Macquarie Group Limited has bought a majority stake in waste management firm Coastal Waste & Recycling, the bank said on Tuesday. The terms of the deal were not disclosed. The transaction values Coastal Waste & Recycling at about $900 million, according…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years, cementing expectations that the Federal Reserve will pause interest rate hikes at its two-day meeting ending on Wednesday. The dollar index slid as…
By Herbert Lash NEW YORK (Reuters) – Global shares rallied and the dollar eased on Tuesday after U.S. consumer price data showed inflation barely rose in May, increasing expectations the Federal Reserve will pause hiking interest rates when it concludes a two-day meeting on Wednesday. The annual increase in the consumer price index was the…
(Reuters) -HSBC has decided to wind down its wealth and personal banking business in New Zealand, the bank said on Tuesday, as it exits from less profitable businesses globally to focus on expanding in certain Asian markets. The process, as a result of a strategic review, will happen over several years in a phased manner,…
SYDNEY (Reuters) -Australia on Tuesday mourned the 10 people who were killed when a chartered bus carrying wedding guests rolled over at a roundabout, the country’s worst bus accident in three decades. Residents placed flowers near the crash site and gathered for a candlelight vigil at a church in the rural Hunter region in New…
By Stella Qiu SYDNEY (Reuters) -Australian business and consumer surveys showed on Tuesday that storm clouds were gathering for the economy, with a slowdown in business activity accelerating and spending confidence staying near recession levels, amid warnings of more rate hikes to come. A survey from National Australia Bank (NAB) that is closely watched by…
(Reuters) – CharIN, the industry body promoting the Combined Charging System (CCS) standard to power electric vehicles, said on Monday Tesla’s charging model is not a standard yet and does not provide an open charging ecosystem for the industry. U.S. automakers General Motors and Ford said they will adopt Tesla’s model of charging cars with…
By Navya Mittal (Reuters) – Australia’s Domino’s Pizza Enterprises said on Tuesday it would shut 27 stores in Denmark, and its construction and supply arm in Australia, sending its shares as much as 11.9% lower in early trade to the bottom of the ASX 200 index. The Australian franchise said the streamlining of operations would…
(Reuters) – Mining giant Rio Tinto said on Tuesday it will partner with Western Australia-based Gemco Rail to bring local iron ore rail car manufacturing and bearing maintenance to the Pilbara region. Rio intends to invest about A$150 million ($101.2 million) to acquire 100 domestically built ore rail cars over six years, it said. Adequate…
SYDNEY (Reuters) – Australia’s business conditions eased sharply in May, dented by slower gains in sales and employment, suggesting demand growth is moderating in the wake of the central bank’s most aggressive tightening campaign in its modern history. The survey from National Australia Bank Ltd (NAB) released on Tuesday showed its index of business conditions…
