Adelaide News
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Australian Treasurer Wayne Swan will eschew European-style austerity as a stronger currency slows growth, wagering the government can win a Sept. 14 election fought on jobs and absorb the pain of a broken surplus promise.
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Australian Prime Minister Julia Gillard, accustomed to prevailing against the political odds, has history stacked against her quest for re-election.
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Nawaz Sharif was headed for a record third term as prime minister of Pakistan as unofficial results from a landmark election gave him the convincing win he sought to tackle a slumping economy and growing militancy.
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Emirates, the world’s No. 1 airline by international traffic, boosted full-year profit 34 percent as it added routes using the largest fleet of Airbus SAS superjumbos.
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Australian and New Zealand jobs growth surged, sending the currencies soaring and undermining central bank efforts to relieve pressure on manufacturers and exporters.
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BKK Partners Pty, which advised Nathan Tinkler on his failed A$5.3 billion ($5.4 billion) bid for Whitehaven Coal Ltd., sought to push the former billionaire’s holding company into bankruptcy for not paying its bills.
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Morgan Stanley, owner of the world’s biggest brokerage, and Westpac Banking Corp. are marketing sales of Australian dollar-denominated debt as funding costs drop to near the lowest in five years.
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Santos Ltd., Australia’s third-biggest oil producer, said its proposed Bonaparte floating liquefied natural gas venture with GDF Suez SA off the country’s northern coast may bring in another partner.
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Australians selling properties are increasingly turning to auctions as interest rates matching the lowest in 50 years fuel demand for homes in the country’s largest cities.
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Keith Darley, a 34-year-old electrician, hears from the government that Australia is the envy of the developed world. Yet the father of two, who employed 22 people a year ago, now works alone and says he’ll be voting against Prime Minister Julia Gillard in the Sept. 14 election.
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