Byron Kaye

China Mengniu plans to buy infant formula maker Bellamy's for $983 million

16 Sep 2019

China Mengniu Dairy Co unveiled a plan to buy infant formula maker Bellamy's Australia Ltd for A$1.43 billion ($983 million), a lifeline for a target beset by regulatory problems that sent its shares soaring.

Australia's Westpac faces fee-for-no-service lawsuit

06 Sep 2019

SYDNEY Australia's Westpac Banking Corp has been served a class action lawsuit accusing it of charging thousands of pension fund customers for services they never received, joining a parade of big-ticket litigation arising from a major inquiry into the financial sector.

UPDATE 3-Australia's Myer turnaround strategy bears fruit with online sales showing promise

05 Sep 2019

Sept 5 Australian department store operator Myer Holdings Ltd swung back to an annual profit on Thursday as a turnaround strategy of ditching low-margin brands and cutting floorspace put the struggling retailer back on track.

Australia's James Packer pauses Crown selldown over China probe

29 Aug 2019

SYDNEY Australian businessman James Packer has frozen a A$1.2 billion ($810.48 million) partial sale of his casino company to Hong Kong's Melco Resorts & Entertainment pending an investigation into alleged criminal activity at its Australian operations.

UPDATE 3-Bellamy's Australia FY profit sours amid China regulator woes

28 Aug 2019

* Investors hoped for quicker turnaround - portfolio manager (Adds details, CEO comment, and updates share movement)

Australia Wesfarmers's profit resilient despite hardware's woes

27 Aug 2019

Australian retail conglomerate Wesfarmers Ltd posted the slowest earnings growth in six years in its hardware unit but still met forecasts for overall annual profit, raising hopes it can withstand a spending slump thanks to diversification.

UPDATE 2-Australia's Boral warns profit to fall further, shares plunge

26 Aug 2019

* Boral underlying net profit A$440.1 mln vs forecast A$476 mln

Australia regulator sues NAB, first lawsuit resulting from bank inquiry

23 Aug 2019

SYDNEY An Australian regulator filed a lawsuit on Friday against No. 3 lender National Australia Bank Ltd accusing it of taking loan applications from unlicensed "introducers", the first lawsuit stemming directly from a finance sector inquiry.

UPDATE 3-Australia's Coles warns rival's 'Ooshies' collectables to pressure sales

22 Aug 2019

* Shares up 4% (Recasts with plastic toy promotion; adds CEO comments)

Australia's Crown Resorts sees profit dip on China gambling lull

21 Aug 2019

SYDNEY Australian casino giant Crown Resorts Ltd said on Wednesday its annual profit fell on less gambling by Chinese tourists, and it again denied media reports alleging the company flouted visa rules that have triggered three regulatory probes.

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