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United Kingdom

Paulina Duran

Australia's Treasury Wine issues profit warning as virus hits demand

4:43am BST

SYDNEY Treasury Wine Estates Ltd flagged a plunge in core earnings for fiscal 2020 and withheld guidance for the year to June 2021, as coronavirus-related curbs on travel and social gatherings hurt demand for its high-margin luxury wines.

Public housing residents decry 'lockup' as Australia contains COVID-19 threat

08 Jul 2020

SYDNEY/MELBOURNE Emel Evcin first heard on a phone call with a friend that nearby COVID-19 cases had rendered her Melbourne apartment block quarantined, yet on checking through the curtains, she saw not medical staff but law enforcement.

Public housing residents decry 'lockup' as Australia contains COVID-19 threat

08 Jul 2020

SYDNEY/MELBOURNE Emel Evcin first heard on a phone call with a friend that nearby COVID-19 cases had rendered her Melbourne apartment block quarantined, yet on checking through the curtains, she saw not medical staff but law enforcement.

Virgin Australia bondholders seek permission to put forward sale alternative

06 Jul 2020

SYDNEY Virgin Australia Holdings Ltd bondholders have applied to the Takeovers Panel for approval to allow them to make an alternative proposal to creditors for the sale of the airline to private equity group Bain Capital, the panel said on Monday.

KKR, Apollo among suitors for National Australia Bank's wealth unit: sources

29 Jun 2020

SYDNEY KKR & Co Inc and Apollo Global Management Inc are among potential buyers which have conducted due diligence on National Australia Bank's wealth management unit, three sources familiar with matter told Reuters.

Bain Capital agrees with Virgin Australia administrator to buy struggling airline

26 Jun 2020

SYDNEY U.S. private equity group Bain Capital said on Friday it has agreed with the administrator of Virgin Australia Holdings Ltd to buy Australia's second-biggest airline for an undisclosed sum, banking on an aviation industry recovery.

Virgin Australia bondholders launch rival proposal to stop private equity sale

24 Jun 2020

SYDNEY Virgin Australia Holdings Ltd bondholders lodged a last-ditch recapitalisation proposal for the struggling airline on Wednesday, seeking to recoup more of their investment and stop its sale to a U.S. private equity firm. | Video

Virgin Australia administrator receives final offers from Bain, Cyrus

22 Jun 2020

SYDNEY Virgin Australia Holdings Ltd's administrator said on Monday that it had received final offers for Australia's second-biggest airline from Bain Capital and Cyrus Capital Partners and that it hoped to select a preferred bidder by June 30.

Government backing for Australian securitised bonds fuels investor interest

17 Jun 2020

SYDNEY, June 17 Strong government support in the Australian securitisation market, one of the Asia-Pacific region's largest after China, is underpinning a surge in investor interest in mortgage-backed bonds at perceived bargain prices.

Australian court flags trial of Westpac in 2021 over financial crime allegations

17 Jun 2020

SYDNEY, June 17 A trial of Westpac Banking Corp over accusations of systemic breaches of money laundering laws that enabled illegal payments between known child sex offenders could take place in the first half of 2021, an Australian court said on Wednesday.

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