04302016Sat
Last update: Sat, 30 Apr 2016 08pm

Australia

Markets - Energy - Australia

Rio Tinto CEO sees no chance of a Glencore merger MELBOURNE: Global miner Rio Tinto will not be taken over by rival Glencore because there is no value in it for shareholders and regulators will never let it happen, Rio Tinto chief executive Sam Walsh said.Rio rebuffed a takeover approach from Glencore last August to create a $160 billion mining and trading goliath and revealed the approach in October. Glencore did not rule out making a fresh attempt.Under UK rules, it could return with an offer from April onward. But since October Glencore's shares have slid relative to Rio's, leading investors to play down the chances of it making a fresh bid in the near term.Speaking at the Royal Institute for International Affairs in in London on Sunday, Walsh said that while "the media are sort of infatuated with this," investors did not expect a deal."Investors say: 'I don't get it. Why are you giving this any air, because it ...

Markets - Energy - Australia

Australia shares extend winning streak as banks rally SYDNEY: Australia's share market rose for an eleventh straight session on Thursday to reach a fresh seven-year closing high as three of the big four local banks scaled record peaks.The S&P/ASX 200 index ended up 0.6 percent at 5,811.0, having earlier touched 5,819.1 - a high not seen since May 2008. The index has risen 9.5 percent in 11 sessions, a feat not seen in over five years.A late rally in bank stocks helped offset ...

Markets - Energy - Australia

Australia regulator says reviewing Origin proposal to buy BP gas terminal SYDNEY: Australia's antitrust regulator said on Monday it was reviewing a proposal by top energy retailer Origin Energy to buy out BP Plc's stake in the Bulwer Island gas terminal they jointly own in Brisbane.In a statement on its website, the Australian Competition and Consumer Commission said it would rule on the proposal on March 19. Origin, which already has a 50 percent stake in the Bulwer Island facility, declined comment.Origin has been expanding into ...

Markets - Energy - Australia

Australia's North West Shelf LNG launches 5-cargo tender MILAN: Australia's North West Shelf liquefied natural gas (LNG) export plant on Monday launched a tender to sell at least five cargoes from April, a source with direct knowledge of the matter said.The 16.3 million tonne per year capacity plant expects to sell the supply in two tranches with final bids for the cargoes due by Jan. 26, the source said.The unexpected tender signals a delay of around three months to reforms of how NWS ...