australia

Asia Leads the IPO Race as U.S. Drops Further Back

Over the last 11 years, Asia's IPO market has ascended while the U.S. market has imploded. Led by China, which has raised $76 billion through IPOs in 2010, Asia's share of global IPOs has increased from 12% in 1999 to 66%. Meanwhile, U.S. IPOs have declined from around 44% to 11% during the same time period, according to Bloomberg.

Investigators Probe Cause of Qantas Engine Failure

Airbus SAS and Rolls-Royce Group launched an investigation into why an engine on a Qantas Airways (QUBSF) A380 exploded while the plane was in the air, forcing an emergency landing in Singapore. Investigators from aviation authorities in France, Australia and the UK will all join the investigation, Bloomberg News reported.

Qantas Grounds Airbus A380 Fleet After Emergency Landing

Qantas Airways (QUBSF) suspended all flights of Airbus A380s after one of its fleet was forced to make an emergency landing following engine failure. The A380 fleet will remain grounded "until we are confident that Qantas safety requirements have been met," CEO Alan Joyce said in a statement.

Australia Raises Interest Rates to Control Inflation

Australia raised interest rates in a bid to control inflation amid an export boom. The country%u2019s Reserve Bank raised rates to 4.75 % from 4.5%, surprising most analysts, The Associated Press reported.

Singapore Exchange to Buy ASX for $8.3 Billion

Singapore Exchange agreed to buy Australian exchange ASX for A$8.4 billion ($8.3 billion). The Singapore Exchange offer is worth A$48 per share of ASX, a 37% premium over the company%u2019s closing price on Oct. 22, Bloomberg News reported. The two exchanges will be separate legal entities and subject to local regulation.

BHP, Rio Scrap Plans to Form World's Biggest Iron Ore Exporter

BHP Billiton (BHP) and Rio Tinto (RIO) gave up on plans to form the world%u2019s biggest iron-ore exporter, citing regulatory requirements. Regulators in Asia and Europe wanted the companies to implement changes, including asset sales, that the companies could not accept, Bloomberg News said. The regulators were worried that the deal would limit competition.

Carlos Slim Open to Energy Investments Outside Mexico

Carlos Slim, ranked by Forbes as the world%u2019s richest man, said he is open to the possibility of investing in new energy projects outside Mexico. Slim, 70, said that he would consider opportunities in the power sector, Reuters reported.

Google's Street View Banned in Czech Republic

Google's controversial Street View service, which has raised privacy concerns in countries around the world, got the heave-ho from the Czech Republic Tuesday after failing to file for the proper registration to operate in that country.

Sinochem Approaches Temasek Regarding Possible Potash Bid

China%u2019s Sinochem Corp. invited Temasek, Singapore%u2019s sovereign wealth fund, to join a consortium that may bid for Potash Corp. (POT), Reuters reported. Temasek has not made any decision on whether to join the consortium, Reuters reported without naming its sources. It is not clear if the consortium plans to bid for Potash Corp or to buy a stake large enough to block BHP Billiton%u2019s (BHP) planned takeover.

Australia's Labor Party to Form Next Government

Australia%u2019s Labor Party will form the country%u2019s next government after winning the support of two independent lawmakers, ending two weeks of uncertainty following national elections. Labor will control 76 of the country%u2019s 150-seat House of Representatives after independents Tony Windsor and Rob Oakeshott joined the party%u2019s coalition, The Associated Press reported.

Mazda to Recall Over 500,000 Vehicles Worldwide

Mazda is readying to recall over 500,000 vehicles across the world due to a problem with the power steering. Earlier this week, Mazda said it was recalling more than 300,000 vehicles in North America, including 215, 000 in the United States. Today, Mazda said it was widening the recall to markets including China, Europe and Australia, The Financial Times reported.

Carlyle Group, TPG Capital Agree to Buy Australia's Healthscope

Carlyle Group and TPG Capital agreed to buy Australian private healthcare provider Healthscope Ltd for A$2 billion, or $1.7 billion. Healthscope said today that shareholders should accept the cash offer of A$6.26 a share, Bloomberg News reported. The offer values the company at A$2.7 billion including debt.

Google's Privacy Woes Expand to Australia

Google's legal woes over privacy issues in Europe have expanded to Australia after residents in that country recently complained about photographs being taken for Google Maps.

Australia Raises Interest Rates Again

As Australia continues to show strong signs of economic recovery driven by Chinese demand for natural resources, the Reserve Bank of Australia raised interest rates for the fourth time since October. The RBA raised its key cash rate by a quarter of a percentage point to 4%, and has has now raised the rate by one full percentage point since Oct. 7.

The best job in the world? Hardly

Many megabytes have been chewed up about the contest run by the Australian Tourism Bureau to be a highly paid beach bum, what the organizers dubbed ...