Kevin Rudd 2.0 has been quick to highlight the dangers posed by slowing Chinese growth since he was returned as Australia’s prime minister.
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Australia’s foreign minister Kevin Rudd resigned on Wednesday amid speculation that he was about to be removed from office by prime minister Julia Gillard for disloyalty, the FT reports. Mr Rudd made the dramatic announcement at a late night press conference in Washington, where he had earlier met Hillary Clinton, US secretary of state. He blamed attacks by “faceless men” and senior ministers in the ruling Labor party and Ms Gillard’s failure to counter them as the reason for his decision. “It’s time for some plain-speaking on this. The truth is I can only serve as foreign minister if I have the confidence of prime minister Gillard and her senior ministers,” Mr Rudd said. Mr Rudd said that in recent days Simon Crean, minister for arts and a former Labor party leader, and “a number of other faceless men have publicly attacked my integrity and therefore my fitness to serve as a minister”. “When challenged today on these attacks, prime minister Gillard chose not to repudiate them. I can only reluctantly conclude that she therefore shares these views.”
Kevin Rudd has publicly given his backing to Julia Gillard’s campaign in the run-up to the August 21 election in a move that will go some way towards healing the rift that has divided Australia’s ruling Labor party since he was ousted as prime minister in June, reports the FT. Her election campaign has been rocked in recent weeks by a series of damaging leaks, widely believed to have originated from Mr Rudd or those close to him, questioning her support for higher pension payments and paid parental leave.
Australia’s proposed mining super-tax — unlike the prime minister who launched it — appears to be sticking round. Kevin Rudd’s successor Julia Gillard, is cut from the same Australian Labor Party cloth, which doesn’t bode well for BHP Billiton, Xstrata and Rio Tinto, who all have heavy (and heavily taxable) Australian mining exposure, FT Alphaville says. Read more
The political future of Kevin Rudd, Australia’s PM, was hanging by a thread after power brokers in his Labour government forced a challenge to his leadership, the FT said. Rudd will face off against his deputy Julia Gillard in a vote of the parliamentary Labour party on Thursday morning. Momentum is shifting firmly against retaining him as the leader. Rudd has been hurt by a backlash led by mining companies over the government’s decision to impose a superprofits tax on the resources sector.
Those are the London shares of Rio Tinto, BHP Billiton and Xstrata. Read more
Telstra and Canberra broke their impasse on the government’s A$43bn ($37bn) high-speed broadband network on Sunday when the Australian telecoms giant agreed an A$11bn deal that will see it fold its equipment into the network, reports the FT. The agreement follows talks that began last year after Canberra threatened to forcibly split Telstra’s retail and wholesale businesses and deny the group access to future bandwidth in the absence of a deal to overhaul Australia’s telecoms sector.
Australia’s Prime Minister Kevin Rudd warned China Thursday that “the world will be watching” how it conducts the trial of four executives of Anglo-Australian mining giant Rio Tinto, the WSJ said.
Is it us, or was watching Gordon Brown meet & greet G20 leaders meticulously one-by-one as they arrived at London’s Excel centre on Thursday a bit like watching an over-excited 16-year-old girl greeting her first guests to her super-sixteen party? He was so overjoyously excited.President Obama turned up among the earlier ‘arrivals’, with President Sarkozy of France again testing protocol by arriving perhaps a little too late for comfort — or at least so said Sky’s Adam Boulton.
Some early snaps: Read more