In Australia, a coalition led by the Liberal National Party has ousted the Labor Party from power, bringing in Tony Abbott as the new Prime Minister. The Labor Party had been in power for six years, under Prime Ministers Bob Hawke, Julia Gillard and Kevin Rudd. Abbott had previously been a boxer, a Rhodes scholar and a seminarian. In his victory speech, Abbott announced, "From today I declare that Australia is under new management and Australia is once more open for business." Meanwhile, Rudd stated in his concession speech that he would be stepping down as his party's leader.
I realize that the terminology may be somewhat confusing, because the party with "liberal" in its name, or the coalition of which it is part, is regarded as conservative. Read more at USA Today, Reuters, BBC News, The Guardian and Sky News.