Australia News
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Updated 1 hour, 16 minutes ago
The U.S. is in talks with 15 members of the World Trade Organization on a deal covering services after broader global negotiations stalled, an Obama administration official said.
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Canada’s dollar appreciated versus most of its major peers and traded at almost a five-month high against its U.S. counterpart before a report that may show the world’s 10th-largest economy expanded last quarter.
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Updated 1 hour ago
Fairfax Financial Holdings Ltd., with seven of eight hedge funds it accused of spreading false rumors out of a lawsuit, may see the $24 billion case shrink again. A judge is poised to rule whether racketeering counts allowing triple damages should be tossed, Bloomberg News’s Thom Weidlich reports.
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Holders of credit-default swaps on Greek bonds shouldn’t tear up their contracts after yesterday’s ruling against a payout.
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Asian stocks rose, with the regional benchmark index set to extend its longest weekly winning streak on record, after U.S. jobless claims fell and European leaders agreed to speed up providing a permanent bailout fund for the region’s debt crisis.
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Asia’s job markets are holding up even as the European crisis hurts exports, auguring stability in domestic demand that reduces the case for the region’s central banks to add monetary stimulus.
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WestSide Corp., an Australian coal- seam gas explorer, said it received a A$165 million ($178 million) takeover offer from Liquefied Natural Gas Ltd., which plans to export the fuel from Queensland state.
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Australia should create a new body to set journalistic standards across all media platforms, from newspapers to the Internet, according to the findings of a government-backed review of how the industry is regulated.
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Australian Treasurer Wayne Swan said resource tycoons including Gina Rinehart, Clive Palmer and Andrew Forrest are threatening the nation’s democratic process by using their wealth to shape policy to their interests.
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Australian class-action lawsuit settlements worry company directors because of their size even as such suits account for less than 1 percent of federal court cases, according to a report by law firm King & Wood Mallesons.
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