Ed Balls, treasury spokesman for the U.K. opposition Labour Party, offered an olive branch to Deputy Prime Minister Nick Clegg, saying he “understood totally” why the Liberal Democrat leader entered coalition with the Conservatives.
Mining takeovers in Australia may reverse a slump after new Prime Minister Julia Gillard signaled a desire to resolve a dispute over a minerals tax that prompted the downfall of her predecessor, investment bankers said.
Qantas Airways Ltd., the Australian carrier that’s firing workers as it reels from losses, will halt capacity growth on local routes for the longest period since 2009 to curb a fall in fares amid weak consumer confidence.
Ohio Senator Rob Portman said at a Bloomberg-Washington Post breakfast at the Republican National Convention in Tampa, Florida, that the U.S. presidential debates will help Republican Mitt Romney close a likability gap with President Barack Obama.
Luxury carmakers such as BMW, Porsche and Mercedes-Benz are furiously filling in market gaps as they expand model ranges into new segments. Most often this means new sport-utility vehicles like Porsche’s upcoming Macan.