United States

Jonathan Barrett

Australian pay packets squeezed as more employers take 'nuclear option'

Nov 08 2018

SYDNEY In Australia, it's known as the "nuclear option". An employer applies to the court to rip up an expiring wages deal, puts workers back on their industry's minimum pay, and then negotiates a new contract.

China's boulevard to nowhere: The battle for influence in APEC's Pacific host

Nov 04 2018

SYDNEY Workers are putting the finishing touches on a Beijing-funded boulevard designed to showcase Papua New Guinea's (PNG) capital to visiting world leaders at this month's Asia-Pacific Economic Cooperation forum.

Australia government stripped of majority after by-election rout

Oct 20 2018

SYDNEY The Australian government will lose its one-seat majority in parliament with more than half the votes counted in a by-election late on Saturday, creating a potential political crisis for Prime Minister Scott Morrison.

Torchlight protest at racing ad on Sydney Opera House

Oct 09 2018

SYDNEY Hundreds of Australians flickered torches on Tuesday at the sails of Sydney's Opera House, aiming the light rays to disrupt horse-racing advertisements projected on its facade, in a protest against the use of the building to promote gambling. | Video

Australia's CBA to refund fees to dead client accounts in inquiry fallout

Oct 08 2018

SYDNEY Commonwealth Bank of Australia said on Tuesday it will refund fees taken out of dead client accounts and unwind a controversial system of charging customers commissions on financial products.

Australia's ANZ takes profit hit as inquiry fallout sweeps banking sector

Oct 07 2018

SYDNEY Australia and New Zealand Banking Group Ltd said on Monday it would take a A$711 million ($501 million) hit to profit due to higher costs including compensation for customers stung by poor bank practices.

Papua New Guinea raises $500 million in debut sovereign bond

Sep 28 2018

HONG KONG/SYDNEY, Sept 28 Papua New Guinea raised $500 million in its debut sovereign dollar bond on Friday, successfully tapping the international market two years after a botched attempt and marking a rare bright spot in emerging markets.

Buyers battle at Australian wool auction as drought cuts supplies

Sep 27 2018

YENNORA, Australia Auctioneer Ian Sharp has been selling Australian agricultural products to the highest bidder since 1968, and he's never seen demand like this before. | Video

Australian tech billionaire sets record with Sydney mansion purchase

Sep 27 2018

SYDNEY Australian technology billionaire Mike Cannon-Brookes and his fashion designer wife Annie have bought a brick and gable-roof mansion in Sydney's opulent eastern suburbs for a reported A$100 million ($72.5 million), setting a record.

Australia's CBA rejected heart attack insurance claim using outdated model

Sep 12 2018

SYDNEY The insurance arm of Commonwealth Bank of Australia rejected a trauma payout to a customer using outdated criterion that found his heart attack was not severe enough, a powerful public inquiry into the financial sector heard on Wednesday.

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