SYDNEY (MarketWatch) -- Australian Prime Minister Julia Gillard defeated her predecessor Kevin Rudd in a leadership ballot on Monday, confirming her position as leader of the ruling Labor party and prime minister. Gillard won the vote of her party colleagues 71 to 31. Rudd was deposed in a party coup that brought Gillard to power, and he was later installed as foreign minister in 2010. He resigned as foreign minister last week in a move which cleared the way for the leadership challenge.
SYDNEY (MarketWatch) -- The Group of 20 said Sunday that the euro zone will consider increasing the size of the region's bailout fund next month, according to reports following a meeting of the group in Mexico. Should the euro zone give approval for the increase, that would in turn mean that other members of the Group of 20 would consider increasing the resources available to the International Monetary Fund, the reports said. Those resources could take the form of bilateral loans and note purchase deals, according to the reports.
Warren Buffett has said that if you look around the poker table and you can’t spot the patsy, you’re it. In that spirit, another famed investor, Jeremy Grantham, is trying to deal investors a better hand.
Jobs and growth are blossoming in Australia’s liquefied natural gas industry, but the latest wave of resource riches mask a sharp slowdown in other sectors of this two-speed economy, while risks to the iconic Great Barrier Reef frustrate the multi-billion dollar developments.
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