Philip Morris International Inc. will close its Australian cigarette plant after six decades and shift production to South Korea, saying government regulations on low fire-risk cigarettes crimped exports.
Bill Shorten, who played a key role in the demise of former prime ministers Kevin Rudd and Julia Gillard, said he’ll stand for the Labor leadership as the party seeks to rebuild following its loss in Australia’s election.
The Australian opposition may support Prime Minister Tony Abbott’s bid to repeal the nation’s carbon tax if the government agrees to retain an emissions-trading program, Labor leader Bill Shorten said.
Australian Financial Services Minister Bill Shorten said rules on foreign ownership in ASX Ltd ., the country’s main exchange operator, didn’t sink Singapore Exchange Ltd. ’s bid and they don’t need revision.
Australia’s unemployment rate climbed to the highest level in more than 10 years in January, spurring traders to pare bets on an interest-rate increase and sending the Aussie to its biggest drop in almost three weeks.
Australia’s newly elected leaders, claiming a mandate to dump the old government’s climate policies, would actually protect programs the defeated Labor party was using to prepare for emissions trading.
Australian Financial Services Minister Bill Shorten said he understands the issues that impact ASX Ltd. trading yesterday were with the authentication process and connectivity. He made the comments on ABC radio.