Reuters - Australia's fragile Labor government suggested on Wednesday it could adjust a planned profits-based tax on mining companies to bend to demands of the independent MPs giving it a slender grip on power.

AP - One of East Timor's deputy prime ministers resigned after Prime Minister Xanana Gusmao allegedly screamed at him during a public meeting and called him a liar — dealing another blow to the young country's stability.

AFP - Australia's newly elected Prime Minister Julia Gillard pledged to serve a full term after scraping back into power but her fragile coalition was immediately hit by discord over a new tax Wednesday.

Reuters - One of East Timor's two deputy prime ministers resigned on Wednesday after he said Prime Minister Xanana Gusmao called him a liar, posing a risk to stability of the ruling coalition of the world's youngest countries.

AP - Tensions emerged Wednesday between Australia's deputy prime minister and a kingmaker independent lawmaker over plans to make mining companies pay more taxes, underscoring the fragility of the country's new minority government.

AFP - Australian drinks giant Foster's Wednesday knocked back an offer worth up to 2.7 billion dollars (2.46 billion US) from a private equity firm for its wine assets but said it would consider other bids.

AP - A magnitude-5.1 aftershock that hammered New Zealand's earthquake-hit city of Christchurch on Wednesday morning sparked evacuations and fresh damage to buildings, causing authorities to extend a state of emergency for another week.

Reuters - Australian Prime Minister Julia Gillard clung onto power on Tuesday, securing support from independent lawmakers to form a minority government after her Labor Party lost its majority at elections last month.

AFP - Australia's "kingmaker" independent MPs Tuesday handed power to Prime Minister Julia Gillard with a one-seat majority, two weeks after elections produced the first hung parliament in 70 years.

AFP - Rising flood waters threatened hundreds of Australian homes Tuesday, after scores were inundated by weekend storms which caused millions of dollars of damage, officials said.