‘Eau De Delooloo': Anthony Albanese encouraged to start fragrance line to compete with Trump
Mr Murray discusses different fragrance name suggestions sent in by viewers of the show.
'Some were very clever.'
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West Australian
an hour ago
- West Australian
UK in dire straits after finance minister's tears rattle markets
All eyes are now on the U.K.'s ruling Labour Party for any sign of further political fractures that could rattle Britain's economic stability, after the extraordinary sight of the country's finance minister crying in parliament on Wednesday. UK bond yields spiked and the pound sank against the dollar and euro as tears fell down Chancellor Rachel Reeves' face, as an apparently unaware Prime Minister Keir Starmer failed to back her when asked about her position during a heated parliamentary debate. The market moves were abrupt, as traders speculated that Reeves could be about to lose her job or potentially resign, taking her strict 'fiscal rules' on spending and borrowing with her. 'There are a lot of eyes on the UK,' Simon Pittaway, senior economist at the Resolution Foundation, told CNBC as the drama unfolded Wednesday. 'When it comes to the [next] Autumn Budget, whoever the chancellor is, they'll have some really difficult decisions to make. And I think, as far as we're concerned, sticking to the existing fiscal rules is really crucial, that's a move that would signal kind of credibility and confidence to the market' at a time when the country is under heavy scrutiny, he told CNBC's Ritika Gupta. 'Sticking to those fiscal rules, and depending on the government's priorities, some combination of higher taxes and lower spending, out towards the end of the forecast period might be the way forward,' Mr Pittaway said. The government scrambled the calm the situation amid spreading market tumult, with a spokesperson attributing Reeves's distress to a 'personal matter' without commenting further. The prime minister then told the BBC that he and the chancellor were 'in lockstep' and that he fully backed her. The comments seemed to placate markets, with London's FTSE 100 up almost 0.5 per cent on Thursday, with the British pound also higher against the euro and dollar. The yield on the UK's benchmark 10-year bonds, known as gilts, was down 6 basis points. On Thursday, Starmer and Reeves commented further on the drama in parliament with the prime minister telling Sky News that his finance minister had his full support, with the two politicians embracing as they attended a public event on Thursday. 'I have every faith in my chancellor,' Starmer told reporters, adding that 'she has made incredibly important decisions in the last 12 months and we wouldn't be doing what we're doing today without those important decisions,' he told Sky News. The chancellor, meanwhile, refused to give the reason for her upset but said her job was to be present at the weekly Prime Minister's Questions session in parliament, and to support the government. 'I guess the thing that maybe is a bit different between my job and many of your viewers' is that when I'm having a tough day it's on the telly and most people don't have to deal with that.' Reeves has come under sustained pressure since the last Autumn Budget, during which she unveiled a massive boost to public spending that would be largely funded by a big tax hike on British businesses and employers. She also said she would be implementing two fiscal rules to get the UK's debt pile and borrowing under control: firstly, that day-to-day government spending will be funded by tax revenues and not by borrowing, and, secondly, that public debt will fall as a share of economic output by 2029-30. The rules gave Reeves' Treasury little fiscal 'headroom,' however, and the little leeway she did have has been further eroded by the government rowing back welfare spending cuts in recent months. After another government U-turn this week, this time on disability benefits, Reeves must now find savings elsewhere — tricky, when she's just announced a massive public spending plans — break her borrowing rules or go against Labour's campaign pledges and hike taxes on workers later this year. On a wider level, following the latest climbdown on welfare, the Labour Party leadership will now have to wrangle with a rebellious group of backbench lawmakers who will feel emboldened to challenge the government on other potentially controversial reforms and spending cuts. 'The nature of what's happened over the last 48 hours, with the government's welfare bill being torn up, it means that the government's political and economic strategy are in absolute dire straits at the moment,' Max Wilson, director of public affairs at Whitehouse Communications, told CNBC on Thursday. The government finds itself with 'such little wiggle room' because of its previous political decisions and concessions to backbenchers, Wilson said. 'Financially, economically, there's very little that they can do, and Rachel Reeves has such a tough job on her hands now, finding the extra money without resorting to other actions that are going to upset the markets, including borrowing more or tax rises, so, really, I think the government left in an absolute bind here,' he noted.
West Australian
2 hours ago
- West Australian
Australian news and politics live: Industry leaders call on Albanese to stand firm on Trump tariff talks
Scroll down for the latest news and updates. Qantas has issued a new statement after a major cyber attack compromised the personal data of up to six million customers. The breach, discovered on June 30, involved a cybercriminal targeting a third-party platform used by a Qantas contact centre, exposing names, email addresses, phone numbers, birth dates, and frequent flyer numbers. Group CEO Vanessa Hudson acknowledged the seriousness of the incident, saying, 'We know that data breaches can feel deeply personal and understand the genuine concern this creates for our customers. Right now we're focused on providing the answers and transparency they deserve.' She added, 'Our investigation is progressing well with our cybersecurity teams working alongside leading external specialists to determine what information has been accessed.' Qantas has apologised to customers, is contacting those affected directly, and has set up a dedicated support line for identity protection advice and updates as the investigation continues. Industry leaders are calling on Prime Minister Anthony Albanese to hold firm in trade negotiations with the US as Donald Trump's 90-day tariff freeze nears its end. With the US recently striking a tariff deal with Vietnam, Australian exporters remain concerned about ongoing uncertainty and the risk of increased costs. Despite the Albanese government proposing $50 million in support for affected sectors, business groups are eager to see strong leadership and clear allocation of funds. Economists warn that even if more deals are reached, 'exporters and importers are likely to continue facing high uncertainty for months and quarters to come.' 'Fundamentally, Australia has nothing to apologise for here,' said Andrew McKellar, Chief Executive of the Australian Chamber of Commerce and Industry. 'Honestly, I don't think there's anything more that could have been done by the Australian government, here or through our mission in Washington.' National Farmers' Federation president David Jochinke added, 'We've stood staunchly behind the federal government's principles-based approach when negotiating trade and tariffs and encourage them to continue this method.'
Sky News AU
5 hours ago
- Sky News AU
HOW TO WATCH: Prime Minister Anthony Albanese to speak at Australia's Economic Outlook, hosted by Sky News and The Australian
Prime Minister Anthony Albanese will be joined by prominent Australian business leaders at the sold out Australia's Economic Outlook 2025, hosted by Laura Jayes. Presented by Sky News and The Australian, this year's event is set to see the Prime Minister outline the government's immediate and long-term economic strategies. His address will be followed by a Q&A session hosted by Sky News Political Editor Andrew Clennell where they will discuss major economic and political issues affecting Australian businesses and households. How to watch Australia's Economic Outlook 2025 Sky News Australia will broadcast the event live on Friday, including the Prime Minister's keynote address. Viewers can tune in on Sky News Extra from 12.30pm AEST. The full event will also be streamed live on and on the Sky News Australia App. Other speakers and topics Australian business figures David Tsai, chief executive of Crown Resorts, and Ed Kitchen, managing director of Uber Eats ANZ, will join The Australian Associate Editor Eric Johnston on a panel discussing economic trends impacting the country's business sector. AustralianSuper chief executive Paul Schroder will also chat to Sky News Business Editor Ross Greenwood about the challenges of navigating increased geopolitical volatility and the potential impacts for Australian investors. The highly sought-after business luncheon event, which is now its fourth year, will this year be held at Crown Sydney from midday on Friday. Watch the event live and in full from 12.30pm AEST on Sky News Extra or download the Sky News Australia App.
