Tag Archives: Australia’s

Shareholders sue Australia’s Crown Resorts over China marketing

SYDNEY (Reuters) – Australian casino operator Crown Resorts Ltd (CWN.AX) was slapped with a class action lawsuit on Monday for allegedly failing to inform shareholders of a marketing campaign in China that resulted in staff arrests and a slump in the share price. FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex ... Read More »

Australia’s budget drips with red ink, top credit rating at risk

Australia’s conservative government on Monday forecast a A$10 billion deterioration in its budget deficit over the next four years but still hoped to snatch a surplus by 2021 and forestall a damaging downgrade of its top credit rating. There have been fears the update could trigger a cut in the country’s prized triple-A rating and push up borrowing costs on ... Read More »

Australia’s Central Bank Cuts Rates to Record Low

Australia’s central bank cut interest rates to a fresh record low as it moves to counter the emergence of disinflation that’s swept the developed world and limit currency gains that could complicate an economic transition. Reserve Bank of Australia Governor Glenn Stevens and his board lowered the cash rate by 25 basis points to 1.75 percent Tuesday, as predicted by ... Read More »

State of the States: NSW ranked as Australia’s best performing economy

The economic weakness linked to the end of the mining construction boom continues to weigh on Australia’s resource-rich states, but both New South Wales and Victoria remain strong, according to CommSec’s latest quarterly State of the States report. CommSec economist Savanth Sebastian said Victoria had very strong housing finance, retail spending, population growth and unemployment figures and was becoming a ... Read More »