Australia news LIVE: Gaza ceasefire talks collapse; Marles and Wong to meet UK counterparts in Sydney; Hulk Hogan dead at 71
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6.58am
Trump rejects wanting to destroy Musk's companies as Tesla shares plunge
Donald Trump denied he was seeking to ruin the business empire of his onetime ally Elon Musk as retribution for their dispute over the US president's signature tax law.
'I want Elon, and all businesses within our Country, to THRIVE,' Trump posted Thursday on social media, though it was unclear exactly what comments he was responding to.
'The better they do, the better the USA does, and that's good for all of us. We are setting records every day, and I want to keep it that way!' the president added.
Shares of Tesla lost more than 8 per cent in New York during the first trading session since the company reported a steep decline in revenue and Musk warned of difficult times ahead for his electric vehicle maker. The stock had declined 18 per cent this year through Wednesday's close.
6.54am
Ghislaine Maxwell meets DOJ amid Epstein saga
Deputy US Attorney-General Todd Blanche held a meeting with sex-trafficker Jeffrey Epstein's imprisoned associate Ghislaine Maxwell at the US attorney's office in Tallahassee, Florida, ABC News reported on Friday AEST.
The meeting was widely anticipated, after Blanche announced earlier in the week that he had reached out to Maxwell's lawyers to see if she might have 'information about anyone who has committed crimes against victims.'
Maxwell is serving a 20-year term at a federal prison in Tallahassee, after a jury convicted her of helping Epstein to abuse underage girls. She is appealing her sentence.
The meeting is part of an ongoing Justice Department effort to cast itself as transparent following fierce backlash from parts of President Donald Trump's base over an earlier refusal to release additional records in the Epstein investigation.
AP, Reuters
6.50am
What's making news today
By Daniel Lo Surdo
Hello and welcome to the national news live blog. My name is Daniel Lo Surdo, and I'll be helming our live coverage this morning.
Here's what is making news today:
Gaza ceasefire negotiations have collapsed in Qatar, with United States mediators returning home after blaming Hamas for the breakdown in talks. The departure of American negotiators follows the same move from Israeli Benjamin Netanyahu hours earlier, with US special envoy Steve Witkoff saying his team would 'now consider alternative options' to secure stability in the region.
Defence Minister Richard Marles and Foreign Minister Penny Wong will meet their United Kingdom counterparts in Sydney, two days after this masthead confirmed Australia had paid the United States another $800 million towards the AUKUS submarine deal under review by the Trump administration. It comes as the Albanese government lifts its import ban on US beef, a key restriction raised by Trump for his proposed sweeping tariffs on Australian goods.
Professional wrestling icon Hulk Hogan has died at the age of 71. Hogan was pronounced dead at a Florida hospital after authorities responded to a call about a cardiac arrest on Thursday morning (local time), with local police saying there were 'no signs of foul play or suspicious activity' associated with Hogan's death. US President Donald Trump was among those paying tribute to Hogan, saying his cultural impact was 'massive'.
The Australian sharemarket is expected to retreat on Friday, as Wall Street hangs near its records in afternoon trading. The ASX fell on Thursday, with Macquarie shares among the biggest laggards on the bourse. It comes as Trump visited US Federal Reserve chair Jerome Powell on Thursday afternoon (local time), two days after Trump labelled Powell a 'numbskull' who will be 'out pretty soon'.
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Perth Now
an hour ago
- Perth Now
Trump, EU's von der Leyen to meet to clinch trade deal
European Commission President Ursula von der Leyen is set to meet US President Donald Trump to clinch a trade deal for Europe that would likely see a 15 per cent baseline tariff on most EU goods, but end months of uncertainty for EU companies. Before the meeting, expected at 1530 GMT Sunday (0130 AEST Monday) on Trump's golf course in Turnberry, western Scotland, US and EU teams were in final talks on tariffs for crucial sectors like cars, steel, aluminium or pharmaceuticals. US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick flew to Scotland on Saturday and EU Trade Commissioner Maros Sefcovic arrived on Sunday morning. Lutnick told "Fox News Sunday" that the EU needed to open its markets for more US exports to convince Trump to reduce a threatened 30 per cent tariff rate that is due to kick in on August 1. "The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30 per cent tariffs that he set," Lutnick said, adding that the EU clearly wanted - and needed - to reach an agreement. A separate U.S. administration official was upbeat that a deal was possible. "We're cautiously optimistic that there will be a deal reached," the official said, speaking on condition of anonymity. "But it's not over till it's over." Ambassadors of EU governments, on a weekend trip to Greenland organised by the Danish presidency of the EU, held a teleconference with EU Commission officials on Sunday to agree on the amount of leeway von der Leyen would have in the talks. In case there is no deal and the U.S. imposes 30 per cent tariffs from August 1, the EU has prepared counter-tariffs on 93 bn euros ($A164 bn) of US goods. EU diplomats have said a deal would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the U.S.-Japan trade deal, along with a 50 per cent tariff on European steel and aluminium for which there could be export quotas. The EU deal would be a huge prize, given that the US and EU are each other's largest trading partners by far and account for a third of global trade. EU officials are hopeful that a 15 per cent baseline tariff would also apply to cars, replacing the current 27.5 per cent auto tariff. Some expect the 27-nation bloc may be able to secure exemptions from the 15 per cent baseline tariff for its aerospace industry and for spirits, though probably not for wine. The EU could also pledge to buy more liquefied natural gas from the US, a long-standing offer, and boost investment in the United States. The US president, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that von der Leyen was a highly respected leader and he was looking forward to meeting with her.
West Australian
an hour ago
- West Australian
Trump, EU's von der Leyen to meet to clinch trade deal
European Commission President Ursula von der Leyen is set to meet US President Donald Trump to clinch a trade deal for Europe that would likely see a 15 per cent baseline tariff on most EU goods, but end months of uncertainty for EU companies. Before the meeting, expected at 1530 GMT Sunday (0130 AEST Monday) on Trump's golf course in Turnberry, western Scotland, US and EU teams were in final talks on tariffs for crucial sectors like cars, steel, aluminium or pharmaceuticals. US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick flew to Scotland on Saturday and EU Trade Commissioner Maros Sefcovic arrived on Sunday morning. Lutnick told "Fox News Sunday" that the EU needed to open its markets for more US exports to convince Trump to reduce a threatened 30 per cent tariff rate that is due to kick in on August 1. "The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30 per cent tariffs that he set," Lutnick said, adding that the EU clearly wanted - and needed - to reach an agreement. A separate U.S. administration official was upbeat that a deal was possible. "We're cautiously optimistic that there will be a deal reached," the official said, speaking on condition of anonymity. "But it's not over till it's over." Ambassadors of EU governments, on a weekend trip to Greenland organised by the Danish presidency of the EU, held a teleconference with EU Commission officials on Sunday to agree on the amount of leeway von der Leyen would have in the talks. In case there is no deal and the U.S. imposes 30 per cent tariffs from August 1, the EU has prepared counter-tariffs on 93 bn euros ($A164 bn) of US goods. EU diplomats have said a deal would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the U.S.-Japan trade deal, along with a 50 per cent tariff on European steel and aluminium for which there could be export quotas. The EU deal would be a huge prize, given that the US and EU are each other's largest trading partners by far and account for a third of global trade. EU officials are hopeful that a 15 per cent baseline tariff would also apply to cars, replacing the current 27.5 per cent auto tariff. Some expect the 27-nation bloc may be able to secure exemptions from the 15 per cent baseline tariff for its aerospace industry and for spirits, though probably not for wine. The EU could also pledge to buy more liquefied natural gas from the US, a long-standing offer, and boost investment in the United States. The US president, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that von der Leyen was a highly respected leader and he was looking forward to meeting with her.
The Age
2 hours ago
- The Age
Power giant warns of ‘two-speed' green shift which benefits only the rich
Millions of Australians face being left behind in the race to greener energy, one of the nation's largest power distributors has warned, as renters miss out on huge savings from solar panels while homes without off-street parking cannot install electric vehicle chargers. From this year, home-owners with solar panels stand to benefit from even bigger electricity bill cuts following the introduction of federal government rebates wiping thousands of dollars off the cost of installing batteries that can soak up their excess energy. Increasing home battery uptake has many advantages: it will enable Australia to harness more of its world-leading per-person solar panel uptake to use after sunset, drive down greenhouse gas emissions and smooth out volatile price swings across the market. But the household clean energy boom may create winners and losers, warns Ausgrid, the largest power distribution company on Australia's eastern seaboard. The company points to renters and lower-income Australians who are unable to make the switch and are forced to stay on increasingly expensive fossil fuel-based energy supplies. 'The problem we see is that if you don't own your own home, or have the financial wherewithal, you are faced with the full system cost of the transition,' said Rob Amphlett Lewis, Ausgrid's group executive of distributed services. Loading 'What we are in danger of is a two-speed transition that works for the 'haves' and is paid for by the 'have-nots'.' Ausgrid and other Australian distribution network service providers are seeking to expand their reach beyond building and maintaining the network's poles and wires and into other future-facing functions where they believe they are well placed to deliver more efficient outcomes for consumers. Their push, however, has opened a major new rift in the industry between network operators and a wide range of other electricity market participants, which are urging regulators against any waiver from 'ring-fencing' rules designed to prevent monopolies from encroaching on competitive markets, and argue it could drive up costs.
