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.
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.
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.
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.
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.
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.
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.
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.