Kevin Rudd, sworn in yesterday for his second stint as Australia’s prime minister, may seek to amend his predecessor’s flagship clean-energy policy that’s left the nation with the world’s highest carbon price, analysts say.
Australian billionaire Clive Palmer ’s much-touted ties with China weren’t enough to convince Hong Kong investors to put up $3.6 billion for shares in his unprofitable iron ore and coal company Resourcehouse Ltd.
Gold fell for a fourth day, nearing its first bear market since 2008, as investors reduced asset holdings amid optimism a global economic recovery will curb haven demand. Silver traded near an eight-month low.
Oil slipped for a third day in London because of concern that U.S. lawmakers may fail to avert automatic spending cuts and tax increases that threaten the economy of the world’s biggest crude consumer.
Gold swung between gains and losses, after the longest run of monthly declines since 1997, as investors weighed improving global economic data amid speculation that central banks will press on with stimulus.