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Billionaire James Packer, one of Australia's richest men, on Tuesday announced he was setting up a philanthropic foundation to give away AU$200 million (US$188 million).
 

Australia on Thursday axed a divisive carbon tax after years of vexed political debate, in a move criticized as regressive and out of step with the rest of the world.
 

Survivors of one of Australia's deadliest wildfires are to be awarded nearly AU$500 million (US$470 million) in a class action settlement reached Tuesday, the largest such compensation in the nation's history.
Record settlement in Aussie wildfire suit

 

An inquiry into Australia's financial system highlighted in a report Tuesday the risks its booming housing sector has on economic stability and perceptions its major banks are “too big to fail.”
 

Australia's agriculture minister Barnaby Joyce has described animal rights group PETA as “extremist” and questioned their methods after the release of footage showing sheep being beaten by shearers.
 

Australia's central bank governor Glenn Stevens Saturday urged politicians to work together to address the growing gap between fiscal spending and revenue, as the government battles to push through massive budget cuts.
 

Australia's conservative government on Thursday suffered a setback when the upper house Senate voted against abolishing a carbon tax, the central platform of its election win last year.
 

Japanese Prime Minister Shinzo Abe Tuesday declared his determination to pursue peace in Asia, as he strengthened defense ties with Australia and signed an ambitious free-trade agreement.
Japan's Abe declares peace goals in historic Australia visit

 

Australian government lawyers Tuesday said 153 Sri Lankan asylum-seekers were in custody on the high seas and agreed to give three days' notice before handing any back to Colombo, as criticism mounted.
 

A High Court on Monday barred Australia from sending back a boat carrying 153 asylum-seekers to Sri Lanka, a day after Canberra returned another vessel to Colombo following a week of secrecy.
 
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