GUANGZHOU, China (Reuters) -Mike Chai aims to cut wage costs at his kitchen cabinet factory by about 30% to remain competitive against other Chinese firms, which have stopped selling to the U.S. due to steep tariffs and are now coming after his long-time customers in Australia. Chai had already halved his workforce to 100 people since the pandemic and says...

Aug 12 (Reuters) - Canada's Gildan Activewear ( GIL ) is nearing a deal to acquire Hanesbrands ( HBI ), which could value the U.S. innerwear-maker at about $5 billion including debt, the Financial Times reported on Tuesday, citing people familiar with the matter. The talks are at an advanced stage and a deal could be agreed by the end...

SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...

MELBOURNE (Reuters) -Peabody Energy is set to reveal on August 19 whether it will continue with its $3.78 billion bid for Anglo American's Australian coking coal mines, as time ticks down for it to renegotiate a lower price for the deal. The U.S. miner last year agreed to buy the mines in Queensland's Bowen Basin, the world's top coking coal...