BREAKING NEWS

Australian parties seek backing of independents

By ASSOCIATED PRESS

AUGUST 23, 2010 05:11

CANBERRA, Australia — Leaders of Australia's two major political parties lobbied for support from independent lawmakers to stitch together the nation's first minority government since World War II after the closest elections in almost 50 years.

Australia's dollar was trading lower Monday as uncertainty remained over the result of weekend federal elections, with the ruling Labor Party losing seats to the environment-focused Greens party in a backlash over the government's shelving of plans to charge major polluters for every ton of carbon gas they emit.

The final results of Saturday's vote may not be known for a week or more but both Labor and the Liberal Party-led opposition conceded neither would achieve the 76 seats needed to form a government in the 150-seat lower chamber.

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