Australian Prime Minister Kevin Rudd announced his ministerial team, opting for less familiar names as he seeks to distance himself from predecessor Julia Gillard and narrow the ruling Labor party’s deficit in opinion polls.
A former vice president in Citigroup Inc.’s treasury finance department, Gary Foster, was charged with embezzling more than $19 million from the bank in what a U.S. prosecutor called “the ultimate inside job.”
Philip Morris International Inc., the world’s largest publicly traded tobacco company, said an Australian proposal requiring cigarettes to be sold in plain packages violates a treaty with Hong Kong and may cause billions of dollars in damages.
Australian Health Minister Nicola Roxon said an extra A$15.6 billion will be guaranteed for future health-care spending across the country as the federal government tries to win support from state leaders for a revamp of the health-care system. Roxon made the comments on Australian Broadcasting Corp. radio today.
New York’s highest court was asked by Bank of America Corp. , UBS AG and other institutions to reinstate their lawsuit claiming that bond insurer MBIA Inc.’s 2009 restructuring was intended to defraud policyholders.
Australia will swear in replacements for two exiting government ministers today as Prime Minister Julia Gillard tries to minimize disruption caused by twin resignations within a week of setting the date for an election.
Australian Attorney General Nicola Roxon and minister Chris Evans have resigned from cabinet, three days after Prime Minister Julia Gillard set a federal vote as the Labor government trails the opposition in opinion polls.