Gina: the billionaire who wants to make Australia great
Reged Ahmad speaks to senior correspondent and the host of this new series, Sarah Martin, to ask: who is Gina Rinehart, and what does she want?
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The Guardian
2 hours ago
- The Guardian
Trade minister to warn Trump's tariff wars could see Australia ‘suffer' for generations
Australia 'will suffer' for generations if Donald Trump's global trade wars persist, Don Farrell warns, as the Albanese government stares down an increasingly challenging economic environment in its second term. In his address to the Lowy Institute on Friday, Australia's trade minister will also say the US is 'seeking to expand domestic manufacturing and influence the policies of its trading partners' as it questions the benefits of open, rules-based trade. On Thursday, the Trump administration claimed a win after restrictions on imports into Australia of meat processed in the US but grown in Mexico and Canada were lifted. 'This is yet another example of the kind of market access the president negotiates to bring America into a new golden age of prosperity, with American agriculture leading the way,' the US agriculture secretary, Brooke Rollins, said. Trade makes up nearly a third of Australia's economic output, and one in four jobs relating to trade – Farrell will note that trade and investment support the Albanese government's three top priorities: productivity, economic resilience, and budget sustainability. Sign up: AU Breaking News email 'But these institutions and norms we worked so hard to build are being questioned and the rules we wrote are being challenged,' he will say on Friday. 'One of the chief designers of the global trading system, the United States, is now questioning the benefits of open, rules-based trade. 'The Trump administration is seeking to expand domestic manufacturing and influence the policies of its trading partners.' Farrell will point to Australia's ability to send produce, resources and human capital around the globe as the reason behind the country's high standard of living. But he will flag that the shift in foreign and trade policy under Trump could undermine Australia's prosperity with long-lasting impacts. 'What we risk seeing is a shift from a system based on shared prosperity and interdependence to one based solely on power and size,' the minister will say. 'If our trading partners' growth slows, without doubt we will suffer. 'The costs to consumers and businesses of a global economic slowdown will be felt for generations, and the shock waves of inflation will worsen.' Sign up to Afternoon Update Our Australian afternoon update breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion This notably stronger critique of Australia's close partner reflects the government's growing unease with pressure applied by the Trump administration. Australia faces a 10% baseline tariff on all products exported to the US with a 50% tariff on steel and aluminium. There is concern a potential 200% tariff could be planned for pharmaceuticals. On the US president's so-called 'Liberation Day', Trump specifically cited Australia's restrictions on beef imports upon announcing the tariff regime. Farrell has previously said the US tariffs on Australian goods were not the 'act of a friend'. The multibillion-dollar Aukus pact is also under pressure after a snap administration review was announced amid US demands for Australia to increase its defence spending.
Daily Mirror
5 hours ago
- Daily Mirror
Huge sporting event faces TV blackout for first time in 70 years with no BBC deal agreed
One of the big events in the sporting calendar could end up not being shown on television next year despite its long history with the BBC, with no broadcasting agreement reached yet The Commonwealth Games faces a potential television blackout in the UK. The competition, which started in 1930, is still yet to secure a broadcasting agreement, despite there being a year until its start date. Glasgow will be playing host to the competition in the summer of 2026, 12 years after hosting the event in 2014. The BBC has served as the main broadcaster of the sporting spectacle since 1954, but discussions about an arrangement for next year are still being had. It's been reported that certain BBC executives harbour doubts about the event's ongoing significance, given the declining number of nations prepared to host it. Glasgow was previously confirmed as emergency replacement hosts in September last year, after multiple cities withdrew from hosting, due to financial concerns. Before Glasgow hosted the games in 2014, chiefs at the BBC agreed a broadcasting deal in 2011. When the event was in Birmingham in 2020, an agreement was wrapped up two years prior. According to The Sun, sources close to the BBC claimed "an agreement is still some way off", with other officials at the Beeb also feeling that there is a "waning appetite" for the event. The overwhelming majority of the event's funding now stems from the £100million compensation the Australian state of Victoria provided to Commonwealth organisers following their withdrawal. Both the UK and Scottish Governments declined to guarantee the expenses of staging the event, pointing to broader strains on public spending. Phil Batty, chief executive of Glasgow 2026, offered a brighter picture of the current situation, saying: "This week we have just announced Sky New Zealand as one of our broadcast partners. We also have Channel 7 in Australia, and there will be news on a UK broadcaster later this year." A spokeswoman for the Games also told the Daily Record: "We're in positive discussions with broadcasters across the Commonwealth, including the UK, and further announcements will be made in the months ahead." Scotland First Minister John Swinney has declared his confidence that Glasgow is "well-organised and well-prepared" for a revamped Games that will spark the public's enthusiasm. He said: "All of our experience tells us that, on major events, the people of Scotland – and especially in Glasgow – get engaged." Swinney also supported Glasgow's choice to rescue an event which has faced criticism in certain circles as being an antiquated connection to Britain's colonial history. He told the BBC: "The Commonwealth is still a very important forum for international co-operation and partnership between countries. And, frankly, we need more international co-operation and friendship and collective endeavour in a world that is becoming increasingly fractured." The competition has been dramatically reduced due to financial concerns, with only 11 sports taking place across four locations. Track and field will be hosted at Scotstoun Stadium, rather than Hampden Park, whilst aquatic competitions will return to the current Tollcross facility. The total expenditure for the 2014 competition reached £543m, but this occasion will see just £114-130m allocated. Petria Thomas, chief of the Australian Commonwealth commission, said: "We're incredibly grateful and fortunate that the Scottish have stepped up to the mark here. "It was obviously highly disappointing that the Victorian government pulled out and it left the Commonwealth sport movement in a very difficult position. It's fantastic that the Games will be on in Glasgow. "Obviously a little bit of a different look to them this time with fewer sports which is a shame. But it's the reality of the position that the Commonwealth sport movement was put in, unfortunately."
Daily Record
a day ago
- Daily Record
Commonwealth Games at risk of TV blackout as no broadcast deal secured for Glasgow event
The BBC has yet to sign a deal to show the Commonwealth Games in Glasgow with 12 months to go before the event kicks-off. The Commonwealth Games is at risk of a TV blackout in the UK with no broadcast deal yet secured for the event's return to Glasgow next year. The BBC has been the principal broadcaster of the sporting extravaganza since 1954 but the corporation confirmed today it was still in talks over whether this would continue in 2026. Insiders said some Beeb bosses were unconvinced of the event's continuing relevance, with fewer countries willing to host it. Glasgow was previously announced in September last year as an emergency stand-in for the next Games after several other cities pulled out over cost fears. The vast majority of the event's budget is now coming from the £100m compensation the Australian state of Victoria paid Commonwealth organisers after backing out. The UK and Scottish Governments both refused to underwrite the costs of staging the event, citing wider pressures on public finances. An agreement to broadcast the previous Games in Glasgow in 2014 was in place two years before it kicked-off. Phil Batty, chief executive of Glasgow 2026, said: "This week we have just announced Sky New Zealand as one of our broadcast partners. "We also have Channel 7 in Australia, and there will be news on a UK broadcaster later this year." A spokeswoman for the Games told the Record: "We're in positive discussions with broadcasters across the Commonwealth, including the UK, and further announcements will be made in the months ahead." First Minister John Swinney has said he is confident Glasgow is "well-organised and well-prepared" for a new-look Games that will capture the public's imagination. He said: "All of our experience tells us that, on major events, the people of Scotland - and especially in Glasgow - get engaged." Swinney also backed Glasgow's decision to save an event which has been criticised in some quarters as being an outdated link to Britain's colonial past. He told the BBC: "The Commonwealth is still a very important forum for international co-operation and partnership between countries. "And, frankly, we need more international co-operation and friendship and collective endeavour in a world that is becoming increasingly fractured." The event has been massively scaled-back as a result of cost considerations, with just 11 sports being contested across four venues. Athletics will be staged at Scotstoun stadium, not Hampden Park, while swimming events will once again be held at the existing Tollcross pool. The overall budget for the 2014 event was £543m, but this time around just £114-130m will be spent. Petria Thomas, head of the Australian Commonwealth commission, said: "We're incredibly grateful and fortunate that the Scottish have stepped up to the mark here. It was obviously highly disappointing that the Victorian government pulled out and it left the Commonwealth sport movement in a very difficult position. "It's fantastic that the Games will be on in Glasgow. Obviously a little bit of a different look to them this time with fewer sports which is a shame. But it's the reality of the position that the Commonwealth sport movement was put in, unfortunately."
