Australian Labor Party Facing Heartland Fight

July 5 (Bloomberg) -- Bloomberg's Paul Allen reports on the challenges facing reinstalled Labor leader Kevin Rudd in the party’s heartland, a mass of suburbs where about 10 percent of Australians live and which produced prime ministers Gough Whitlam and Paul Keating. While it has held five of the area’s 10 federal districts for at least 29 years, polls before the June 26 ouster of unpopular Gillard showed Labor’s eight seats faced a swing to the opposition. (Source: Bloomberg)

Latest Fed Minutes Point to June Rate Hike
41:46 - Most Federal Reserve officials judged “it would soon be appropriate” to tighten monetary policy again and backed a plan that would gradually shrink their $4.5 trillion balance sheet, according to minutes from the FOMC's May 2-3 gathering. Bloomberg's Chris Condon reports on "Bloomberg Markets." (Source: Bloomberg)
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