Wayne Swan, Former Treasurer & Deputy Prime Minister of Australia, responds to Australian Treasurer Joe Hockey's comments about how Canberra inherited deficits from the previous government.» Read More
Rupert Murdoch's younger son James is to return to News Corp. to head its Asian and European operations in a move that appears to make him heir apparent to the global media empire.
Australia cut its official forecast for 2007/08 total commodity export income on Thursday, citing the effects of the worst drought in a century on farming exports as well as a strong Australian dollar.
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.
Swiss mining group Xstrata offered A$960 million ($842 million) for Australian thermal coal producer Resource Pacific on Wednesday, rivaling an offer last month by New Hope Corp.
Australian retail sales rose less than forecast in October as consumers cut back on household goods purchases after months of heavy spending, reinforcing expectations the central bank will keep rates on hold this week.
Australia's Labor leader Kevin Rudd was sworn in as prime minister on Monday, promising to urgently sign the Kyoto Protocol on climate change. But Rudd said that the country was likely to miss its Kyoto target for reducing greenhouse gas emissions by 2012.
Australian inflation accelerated further above the central bank's comfort zone in November as petrol prices climbed, a private survey showed on Monday, suggesting interest rates might yet have to rise further.
National Australia Bank, the country's top lender by assets, said on Thursday it has agreed to buy the privately owned Great Western Bank for $707 million to expand its U.S. agribusiness banking.
Australia's centre-left Prime Minister-elect Kevin Rudd named Labor's first cabinet in 11 years on Thursday, appointing former academic Wayne Swan to the key economic management job as treasurer.
Australian business investment unexpectedly fell last quarter as the booming mining sector took a breather, though firms still upgraded already ambitious spending plans for coming months.
Symbion Health said on Tuesday that a planned $2.4 billion takeover led by Healthscope would not proceed after Australian tax authorities disallowed tax relief on parts of the deal.
There wasn't much doubt by the end of last week that come late Saturday evening, Australia would indeed see a new Prime Minister and a Labor win. But few suspected the bloodbath, John Howard's ruling Coalition government of 11 solid years would suffer.
Shares in Australian health sector takeover target Symbion Health and its suitor Healthscope were placed on trading halts on Monday, ahead of a market announcement.
After more than 11 years in power, Australia's Prime Minister John Howard is now fighting for his political life as opinion polls continue to point to a Labor victory.
Australia's Symbion Health Ltd said on Friday Primary Health Care Ltd had lost a legal challenge against it over Symbion's proposed A$2.8 billion (US$2.4 billion) tie-up with Healthscope Ltd.
Australia's Publishing & Broadcasting said it was close to agreeing a major North American gaming acquisition, and was still considering two other deals.
AWB, Australia's embattled main wheat exporter, reported a 53 percent fall in full-year net profit on Wednesday, hit by a severe drought, but said the outlook for agribusiness in Australian was positive.
Eurofer, the lobby group for the European steel industry, said on Tuesday it will ask the European Commission to block BHP Billiton's plans to buy rival Rio Tinto due to competition concerns.
Building materials maker James Hardie Industries reported a 32 percent fall in second-quarter profit, hit by a drop in home building in the United States, and said it was comfortable with the bottom end of analysts' full-year forecasts.
Mining giant BHP Billiton, whose multi-million-dollar takeover plan has been rejected by Rio Tinto's management, may consider taking an offer directly to Rio's shareholders in the future, BHP's chief said on Saturday.