The strong Australian dollar gave an “unprecedented whack” to tax revenue the government needed to return the nation’s budget to surplus, Treasurer Wayne Swan said.
Orica Ltd., the world’s largest maker of industrial explosives, said a decline in the Australian dollar is needed to help manufacturers that are struggling to compete with cheaper imports.
Rob McKenna, Washington State’s former attorney general, joined Orrick, Herrington & Sutcliffe LLP as a partner in Seattle and co-chairman of the firm’s public policy group.
Orica Ltd., the world’s largest maker of industrial explosives, said Australia should manage its currency “as other countries have” to support industries being hurt by the Aussie’s record run above U.S. dollar parity.
Dai-ichi Life Insurance Co. , Japan’s second-biggest life insurer, agreed to buy a full stake of Tower Australia Group Ltd. for A$1.2 billion ($1.2 billion), its biggest overseas acquisition.
No television broadcaster in the developed Asia-Pacific region is tempting its owners with a cheaper buyout opportunity than Seven West Media Ltd.
Newcrest Mining Ltd. , set to buy smaller rival Lihir Gold Ltd. for $9.6 billion, said it’s eyeing further merger and acquisition opportunities in the Asia-Pacific region and West Africa.
Zimbabwean Vice President John Nkomo, a senior member of President Robert Mugabe’s party, died at the age of 78.
Vertex Pharmaceuticals Inc .’s most advanced experimental drug, in development with Johnson & Johnson, worked in patients with hepatitis C who didn’t respond to other treatment, a study found.
"It is very hard with our manufacturing base as a company to think of a profile where the Aussie dollar stays above parity with the U.S. for another five or ten years."
- Ian Smith on Apr 10, 2013