Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Goldman Sachs Deep Pockets May Still Make It Lawsuit Target
Jul 20 2010 // Goldman Sachs put one headache behind it by settling with U.S. securities regulators, but it looks like a tempting deep pocket for banks and hedge funds that bought subprime-backed mortgage securities. A day after the U.S....
Supreme Court Decision Limits Non-U.S. Companies’ Exposure to U.S. Securities Litigation
Jul 19 2010 // Securities lawsuits against BP and Toyota may be substantially narrowed, thanks to a recent Supreme Court decision. On June 24, 2010, in a long-awaited decision that will affect the circumstances under which non-U.S....
The Growing Risks of Social Media
Jul 12 2010 // Asked why he robbed banks, Willie Sutton famously replied: “Because that’s where the money is.” Something similar can be said to explain why companies are paying more attention to social media these days...
How to Manage the Growing Risks of Social Media
Jul 5 2010 // Advertising, Defamation, Privacy and Security Laws All at Issue Asked why he robbed banks, Willie Sutton famously replied: “Because that’s where the money is.” Something similar can be said to explain why...
Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion
Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...
Insurance Australia Group Strengthens UK Claim Reserves
Jun 2 2010 // Insurance Australia Group (IAG) has announced that “due to a significant deterioration in UK claim experience, in particular bodily injury claims, it had conducted a further independent actuarial review of its UK...
AXA Extends Talks with National Australia Bank on AXA Asia Pacific Deal
Jun 2 2010 // AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) announced that they have agreed to “extend until July 15, 2010 end of day the agreement relating to the proposed transaction...
Report: National Australia Bank to Sell Assets for $13 Billion AXA Deal
May 14 2010 // National Australia Bank, which has seen its $13 billion takeover bid for AXA Asia Pacific Holdings Ltd blocked by the competition regulator, is preparing to sell some assets to appease the government watchdog, two sources...
Tower Australia Eyes AIA Insurance
Apr 8 2010 // Tower Australia Ltd will be interested in buying the “well-run” Australian business of AIA if it comes up for sale, as it moves into the fast-growing group insurance sector, Tower’s chief executive said...
U.S. High Court Weighs Foreign Investors Suing in U.S. Courts
Apr 6 2010 // The Supreme Court indicated this week it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud. The court heard argument in a challenge from Australian...
Tropical Cyclone Shuts Australia Coal Port, Threatens Sugar Fields
Mar 19 2010 // A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane...
Ratings Recap: GIC India, Top Layer Re, AIA (Australia), PartnerRe (notes)
Mar 15 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings...
Rising Rivers Flood Rural Australian Towns
Mar 8 2010 // Floods caused by heavy rains have cut off several townships in Australia’s northeastern Queensland state and caused hundreds of millions of dollars in damage, the state’s premier said Sunday. Premier Anna Bligh...
AMP Hints it May Improve AXA Asia Bid
Feb 18 2010 // Australia’s No.2 wealth manager AMP Ltd signaled on Thursday that it had room to improve its $11.6 billion bid for AXA Asia Pacific, but said it had yet to decide on its next move. AMP is in a bid battle with the...
AXA Asia-Pacific Returns to Profit; No Comments on Takeover Bids
Feb 17 2010 // Takeover target AXA Asia-Pacific’s promise of strong growth in 2010 prompted analysts to suggest suitors may consider raising their bids for the firm but top officials declined comment on the $12 billion...
Catlin Opens Office in Melbourne
Feb 16 2010 // Catlin Group Limited has expanded its Australian operations with the opening of a second office in Melbourne in addition to the head office in Sydney. Catlin appointed Rory Morison to head the new operation He has...
Australia Competition Watchdog Concerned over NAB’s AXA Apac Bid
Feb 10 2010 // Australia’s competition watchdog raised concerns on Wednesday over National Australia Bank’s (NAB) $11.6 billion bid for fund manager AXA Asia Pacific, tipping the scales toward rival bidder AMP. NAB, already...
AMP to Consider Position on $11 Billion AXA Asia Deal
Feb 8 2010 // Australian wealth manager AMP Ltd has let its exclusive deal with French insurer AXA SA expire for a joint $11 billion buy of AXA Asia Pacific Holdings, paving the way for rival bidder National Australia Bank to start...
Tropical Storm Magda Threatens Northeastern Australia
Jan 22 2010 // A report from Risk Management Solutions on tropical storm Magda places it at around 500 miles (800 kms) northeast of Port Hedland, Australia, and 520 miles (830 kms) west-southwest of Darwin, according to the Joint Typhoon...
AXA Asia Pacific Profit Upgrade Stirs Talk of Higher Bid
Jan 21 2010 // Life insurer and fund manager AXA Asia-Pacific Holdings Ltd expects to report a forecast-beating profit for 2009, putting pressure on rival bidders to raise their offers in a $12 billion battle for the company. AXA...