Labor Party News
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Ford Motor Co. Falcons, driven by Mel Gibson in Australia’s 1979 movie “Mad Max,” have rolled off a Melbourne production line for 53 years. Now, like Max’s “last of the V-8s,” their days are numbered.
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Ford Motor Co. will stop making cars in Australia, nine decades after founder Henry Ford first began building Model Ts in the country, as a surge in the currency undermines the local industry’s ability to compete with imports.
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Prime Minister David Cameron won passage through the House of Commons of a bill legalizing gay marriage in England and Wales. It must next be approved by the upper unelected House of Lords before becoming law.
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Shadow Treasurer Joe Hockey overtook incumbent Wayne Swan in a poll on who is more capable of managing Australia’s economy, as the government failed to gain a boost from its last budget before a Sept. 14 election.
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Delek Drilling-LP and Avner Oil Exploration LLP led declines on Israel’s benchmark index on concern uncertainty on government-imposed export quotas would hinder further development of offshore gas fields.
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Australia’s government is wooing voters with increased infrastructure, health and education spending while charting a path to a budget surplus as it seeks to restore economic credibility four months before an election.
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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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Australian Prime Minister Julia Gillard’s government announced plans to upgrade infrastructure as it boosts health and education spending, in a budget seeking to woo back voters while restoring economic credibility four months before an election.
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Australia more than halved its projection for carbon prices in the year starting July 2015 to A$12.10 ($12) a metric ton as the European Union, its planned partner in a cap-and-trade system, struggles with low prices.
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