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Fortune: Why private equity is in a deep freeze

If the credit markets have been an iceberg over the past year, the private equity business has been frozen as solid as a prehistoric glacier. Buyout giants like KKR, Blackstone, and Bain Capital -- who just a couple of years ago were vying to one-up each other on a monthly basis with new mega-deals -- have been in a virtual hibernation for months.

Bush awards medals to wartime allies

Three former wartime allies were reunited at the White House for one last time on Tuesday when President George W. Bush awarded America's top civilian honor to the former prime ministers of Britain and Australia.

Australian voters end Howard era

Australian opposition leader Kevin Rudd greeted jubilant supporters Saturday night, as he promised changes in environmental, education and workplace policies as Australia's new prime minister.

Time.com: A New Face for Australia

The country throws out the government of John Howard after 11 years but hopes there won't be too much change

Howard fights for survival in Australian vote

Veteran Prime Minister John Howard was fighting for political survival Saturday, as Australians went to the polls in a federal election that could sweep a center-left opposition leader into power.

Howard faces toughest election yet

Polls suggest that more than 11 years of conservative rule in Australia looks likely to come to an end this Saturday as the nation votes on whether Prime Minister John Howard deserves another term.

Australian elections video coverage

Four-term Australian Prime Minister John Howard faces his most popular challenger ever at elections on November 24, with polls signaling a big swing toward the opposition but the outcome to be decided in a few key districts.

Rudd plans changes to key policies

If, as seems quite possible, Kevin Rudd becomes Australia's new prime minister after national elections on Saturday, the world can expect to see key changes in Australian policies on international issues such as Iraq, climate change and uranium sales to India.

Profile: John Howard

Australians are voting in a federal election on November 24, in what many analysts predict will be a tight race.

Time.com: Kevin Rudd: Australia's Next PM?

Why strip club-visiting, ear wax-tasting Kevin Rudd is expected to oust long-serving PM John Howard

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