Economics
Gillard Takes Australia Leadership After Rudd Resigns
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Julia Gillard will become Australia’s first female prime minister after ousting Kevin Rudd following a slump in his approval ratings and a clash with the resources industry over a plan to increase taxes.
Gillard, 48, will be sworn in at 12:30 p.m. after challenging Rudd for the leadership late last night. Welsh-born Gillard was elected unopposed by Labor party members this morning in Canberra after Rudd, who won office in 2007, withdrew from the ballot.