Julia Gillard is expected to comfortably beat Kevin Rudd in this morning’s Labor leadership vote, despite opinion polls suggesting that Rudd is the more popular with voters.
The ballot, which is set to take place at 10am, is expected to see Gillard retain the support of at least two-thirds of the Labor caucus.
Financial advisors hoping for windfall
Financial advisors could be set for a $150 million payday if the Federal Government agrees to delay reforms of the sector.
Industry groups want a one-year delay to The Future of Financial Advice reforms, which would ban advisors from collecting commissions.
The delay would result in $150 million in commissions for advisors.
Branson wins .xxx domain battle
Sir Richard Branson has won control of the domain name richardbranson.xxx, wresting ownership of the site from an Australian man.
Australian Sean Truman said that he got the .xxx domain name as a “souvenir” due to his admiration of the Virgin Group founder, but adjudication body The National Arbitration Forum ruled that Truman had obtained the domain in “bad faith.”
The Australian dollar was down to 106.93 US cents on Friday.