Trump's magic maths; The risk markets aren't seeing; BYD sales, complaints soar
In today's news, Donald Trump's magic maths got his mega-bill through Congress, but it won't make debt vanish; Chinese hybrid carmaker BYD's sales are soaring but so are complaints; Macquarie's Viktor Shvets outlines a major risk that markets aren't seeing.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News AU
36 minutes ago
- Sky News AU
Hamas submits 'positive' response to Trump's ceasefire proposal for Gaza which could 'facilitate reaching a deal'
Hamas has submitted its response to a US-brokered ceasefire deal for Gaza, in a big step towards ending the war with Israel. The Palestinian militant group accepted the framework of a new 60-day ceasefire and hostage-release deal which is expected to spark further discussions with the US to end the war, which has been raging since October 2023. "We have handed the mediators, Qatar and Egypt, our response to the ceasefire proposal," a Hamas official told Reuters on condition of anonymity. "The Hamas response is positive and I think it should help and facilitate reaching a deal," said the Palestinian official close to the talks. In the message to the mediators, Hamas said it was 'fully ready and serious to immediately enter a round of negotiations on the mechanism for implementing this framework". The response comes after US President Donald Trump said he was awaiting a reply from both parties over the terms of the ceasefire. Earlier in the week he said Israel had agreed "to the necessary conditions to finalise" the 60-day ceasefire. Efforts to end the war in Gaza are set to take part during the ceasefire. A ceasefire deal could also see the release of more hostages in Gaza, with Israel believing there are still 20 hostages alive, as well as the bodies of about 30 dead hostages. In return, Israel would release a large number of Palestinians it is holding, while the IDF would slowly withdraw from particular areas of Gaza. Israeli Prime Minister Benjamin Netanyahu is set to meet Trump in Washington on Monday, with the US President saying he would be "very firm" to his ally about the importance of a quick ceasefire. Israeli attacks have killed at least 138 Palestinians in Gaza over the past 24 hours, local health officials said. Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an airstrike on a tent encampment west of the city around 2 a.m., killing 15 Palestinians displaced by nearly two years of war. The Israeli military said troops operating in the Khan Younis area had eliminated militants, confiscated weapons and dismantled Hamas outposts in the last 24 hours, while striking 100 targets across Gaza, including military structures, weapons storage facilities and launchers. More than 57,000 Palestinians have been killed in nearly two years of fighting, most of them civilians, according to local health officials. -With Reuters
Sky News AU
41 minutes ago
- Sky News AU
Trump to sign ‘Big, Beautiful Bill' at White House today
US President Donald Trump is celebrating victory after Republicans in the House of Representatives passed his 'Big, Beautiful Bill'. President Trump has confirmed he will sign the bill at a White House ceremony on Independence Day. The US President claims he is putting America back on track, while Democrats are not happy with the impacts of the bill, specifically the cuts to Medicaid.
SBS Australia
an hour ago
- SBS Australia
Morning News Bulletin 5 July 2025
Listen to Australian and world news, and follow trending topics with SBS News Podcasts . TRANSCRIPT Hamas says it will consult with other Palestinian factions over US ceasefire proposal The Prime Minister says he's confident he'll meet US President Donald Trump before the end of the year Matildas coach confident the squad will beat Panama in Bunbury today — Hamas says it is holding consultations with other Palestinian factions on a United States 60-day ceasefire proposal. This comes after US President Donald Trump announced what he called the 'final proposal' for a 60-day ceasefire. Hours earlier, Israeli Prime Minister Benjamin Netanyahu vowed to bring home all the hostages held by militants in Gaza, after coming under massive domestic pressure over their fate. Two previous ceasefires brokered by Qatar, Egypt and the US have seen temporary halts in Israeli aggression, coupled with the return of Israeli and Palestinian captives. Health officials in Gaza say Israel has killed at least 138 Palestinian people in Gaza in the last 24 hours, with airstrikes carried out on a tent encampment at around 2am local time. United States President Donald Trump has spoken with Ukrainian President Volodymyr Zelenskyy, as Ukraine seeks more Patriot missiles from the US. President Zelenskyy says the pair discussed air defences, agreeing to work on increasing Kyiv's capability to "defend the sky" as Russian attacks escalate. Shortly before that call, Mr Trump expressed his disappointment in a call with Russian President Vladimir Putin, because he says it does not appear Mr Putin is looking to stop his war against Ukraine. After the call, Ukrainian authorities report that Russia pummeled Kyiv with drones in an all-night attack, injuring at least 23 people, damaging railway infrastructure and setting buildings and cars on fire throughout the city. Prime Minister Anthony Albanese says he's confident he'll get a meeting with the United States President to talk about trade and tariffs before the end of the year. Speaking at Sky News Australia's Economic Outlook forum, Mr Albanese says it is unlikely Australia will get an exemption from President Trump's sweeping 10 per cent tariffs. However, he insists he's not overly worried about Australian exports, and that negotiations would continue. "We continue to be engaged with our American friends, but they have a different position on tariffs. I've said that's an act of economic self-harm, I stick to that. I have a different view about the economy and about trade." President Trump's new tariff rates are set to come into effect on August 1st. A China-based criminal syndicate is allegedly behind an orchestrated spiritual blessing scam that has netted millions by preying on elderly women. Two people have already been arrested and dozens more are under investigation for swindling multiple victims, mainly targeting older Asian women. The scammers typically come to Australia from China for short stints to carry out the fraud, convincing older women their money and belongings need to be "blessed" to avoid bad luck. New South Wales Police Detective Superintendent Guy Magee explains how the scams work. "These offenders swarm these vulnerable victims like a pack of hyenas to be frank. They'll convince them that they've come across bad luck. They'll convince them to retrieve their life savings. They'll convince them to put it into a bag. They will convince them that it's been blessed, and they'll tell them not to open that bag for a period of time up to months. And unfortunately, the victims are opening those bags their money and jewellery is simply not in there." New Matildas coach Joe Montemurro faces his next challenge this afternoon, taking on Panama in the small coastal city of Bunbury in Western Australia. The newly formed squad will take on the Central American team in an international friendly at Hands Oval, Bunbury, south of Perth. It comes as the Matildas take their first steps towards the AFC Asian Cup 2026, which will be held in Australia. Last week they took on Slovenia in a pair of matches in Perth, winning three-nil in the first and drawing one-all in the second. Montemurro says it wasn't a perfect first outing but he's confident the Matildas will perform better against Panama. "There's always going to be some teething problems and we saw the change from game one to game two in terms of the timing and the understanding of when and where. A different team to Panama. They will not be pressing us all over the pitch like Slovenia, so I expect we'll probably have more opportunities to prepare situations. But there's going to be a lot of changes so probably a little bit of a hiccup in continuity, but I hope to see the same sort of patterns and the same sort of game approach."
