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Markets live updates: US interest rates held steady as Federal Reserve cuts growth outlook, ASX to fall

Markets live updates: US interest rates held steady as Federal Reserve cuts growth outlook, ASX to fall

The US Federal Reserve left interest rates unchanged despite Donald Trump's calls for cuts, and it now sees a slightly slower pace of easing.
Futures indicated the local share market could fall at the open, with local jobs and unemployment figures due later this morning.
Follow the day's financial news and insights from our specialist business reporters on our live blog.
Disclaimer: this blog is not intended as investment advice.
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US migrant raids spark boom for private detention providers
US migrant raids spark boom for private detention providers

News.com.au

time3 hours ago

  • News.com.au

US migrant raids spark boom for private detention providers

Donald Trump's promise to carry out the largest deportation operation in US history has appalled some Americans. But others are cashing in on the boom in demand for private detention centers. Migrants captured by Immigration and Customs Enforcement agents need to be temporarily housed in places like the facility being readied in California City, prior to deportation. "When you talk to the majority of residents here, they have a favorable perspective on it," said Marquette Hawkins, mayor of the hardscrabble settlement of 15,000 people, 100 miles (160 kilometres) north of Los Angeles. "They look at the economic impact, right?" California City is to be home to a sprawling detention center that will be operated by CoreCivic, one of the largest companies in the private detention sector. The company, which declined AFP requests for an interview, says the facility would generate around 500 jobs, and funnel $2 million in tax revenue to the city. "Many of our residents have already been hired out there to work in that facility," Hawkins told AFP. "Any revenue source that is going to assist the town in rebuilding itself, rebranding itself, is going to be seen as a plus," he said. - Boom - Trump's ramped-up immigration arrests, like those that provoked protests in Los Angeles, saw a record 60,000 people in detention in June, according to ICE figures. Those same figures show the vast majority have no conviction, despite the president's election campaign promises to go after hardened criminals. More than 80 percent of detainees are in facilities run by the private sector, according to the TRAC project at Syracuse University. And with Washington's directive to triple the number of daily arrests -- and $45 billion earmarked for new detention centers -- the sector is looking at an unprecedented boom. "Never in our 42-year company history have we had so much activity and demand for our services as we are seeing right now," Damon Hininger, executive director of CoreCivic, said in a May call with investors. When Trump took office in January, some 107 centers were operating. The number now hovers around 200. For Democratic politicians, this proliferation is intentional. "Private prison companies are profiting from human suffering, and Republicans are allowing them to get away with it," Congresswoman Norma Torres told reporters outside a detention center in the southern California city of Adelanto. At the start of the year, there were three people detained there; there are now hundreds, each one of them attracting a daily stipend of taxpayer cash for the operator. Torres was refused permission to visit the facility, run by the privately owned GEO Group, because she had not given seven days' notice, she said. "Denying members of Congress access to private detention facilities like Adelanto isn't just disrespectful, it is dangerous, it is illegal, and it is a desperate attempt to hide the abuse happening behind these walls," she said. "We've heard the horrifying stories of detainees being violently arrested, denied basic medical care, isolated for days, and left injured without treatment," she added. Kristen Hunsberger, a staff attorney at the Law Center for Immigrant Advocates, said one client complained of having to wait "six or seven hours to get clean water." It is "not sanitary and certainly not... in compliance with just basic human rights." Hunsberger, who spends hours on the road going from one center to another to locate her clients, says many have been denied access to legal counsel, a constitutional right in the United States. Both GEO and ICE have denied allegations of mistreatment at the detention centers. "Claims there is overcrowding or subprime conditions in ICE facilities are categorically FALSE," said Tricia McLaughlin, the assistant secretary at the Department of Homeland Security. "All detainees are provided with proper meals, medical treatment and have opportunities to communicate with their family members and lawyers." - 'Strategy' - But some relatives of detainees tell a different story. Alejandra Morales, an American citizen, said her undocumented husband was detained incommunicado for five days in Los Angeles before being transferred to Adelanto. In the Los Angeles facility, "they don't even let them brush their teeth, they don't let them bathe, nothing. They have them all sleeping on the floor, in a cell, all together," she said. Hunsberger said that for detainees and their relatives, the treatment appears to be deliberate. "They're starting to feel that this is a strategy to wear people down, to have them in these inhumane conditions, and then pressure them to sign something where they could then agree to being deported," she said. pr/hg/ksb

Trump arrives in Scotland for golf and diplomacy
Trump arrives in Scotland for golf and diplomacy

The Advertiser

time5 hours ago

  • The Advertiser

Trump arrives in Scotland for golf and diplomacy

US President Donald Trump has arrived in Scotland as his family's business prepares for the upcoming opening of a new golf course in Aberdeenshire billed as "the greatest 36 holes in golf". Air Force One - the presidential plane - touched down at Prestwick Airport in Ayrshire on Friday just before 8.30pm. The president was met by Scottish Secretary Ian Murray as he disembarked, before heading to the waiting presidential helicopter Marine One, bound for his nearby Turnberry golf course. His presence is expected to spark protests across the country, with Scottish Police being forced to request aid from other forces to help increase manpower for the trip. Trump is set to spend time at his golf resort in Turnberry on Scotland's west coast, before heading to his sprawling golf property 320 kilometres away near Aberdeen in the east. But it won't be all play and no work. He will meet British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen who both want to talk about trade. Trump said Washington was also working hard on a possible trade deal with the EU, which he said was very keen to make a deal. EU diplomats say a deal could result in a broad 15 per cent tariff on EU goods, mirroring a framework agreement with Japan and half of the 30 per cent tariff Trump is threatening to impose by August 1 As part of the visit, he will open a second 18-hole course on the Aberdeen property named in honour of his mother, Mary Anne MacLeod, who was born and raised on a Scottish island before emigrating to America. The White House has described the trip as "private". The trip shows how the president has become increasingly comfortable intermingling his governing pursuits with promoting his family's business interests. Trump has described Scotland as a "very special place" and made a similar trip there in 2016 during his first run for the presidency, but he will not necessarily get a warm welcome. About 70 per cent of Scots have an unfavourable opinion of Trump, while 18 per cent have a favourable opinion, an Ipsos poll in March found. His visit requires a major police operation that will cost Scottish taxpayers millions of pounds as protests are planned over the weekend. The union representing officers is concerned that they are already overworked and will be diverted from their normal duties. The overseas travel comes as Trump faces the biggest domestic political crisis of his second term in office. Allies and opponents alike have criticised his administration's handling of investigative files related to disgraced financier and sex offender Jeffrey Epstein's criminal charges and the circumstances of his 2019 death in prison. The issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos polling. White House officials, frustrated by the ongoing focus on the Epstein saga, are hoping the controversy dies down while Trump is abroad, one person familiar with the matter said. with PA and Reuters US President Donald Trump has arrived in Scotland as his family's business prepares for the upcoming opening of a new golf course in Aberdeenshire billed as "the greatest 36 holes in golf". Air Force One - the presidential plane - touched down at Prestwick Airport in Ayrshire on Friday just before 8.30pm. The president was met by Scottish Secretary Ian Murray as he disembarked, before heading to the waiting presidential helicopter Marine One, bound for his nearby Turnberry golf course. His presence is expected to spark protests across the country, with Scottish Police being forced to request aid from other forces to help increase manpower for the trip. Trump is set to spend time at his golf resort in Turnberry on Scotland's west coast, before heading to his sprawling golf property 320 kilometres away near Aberdeen in the east. But it won't be all play and no work. He will meet British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen who both want to talk about trade. Trump said Washington was also working hard on a possible trade deal with the EU, which he said was very keen to make a deal. EU diplomats say a deal could result in a broad 15 per cent tariff on EU goods, mirroring a framework agreement with Japan and half of the 30 per cent tariff Trump is threatening to impose by August 1 As part of the visit, he will open a second 18-hole course on the Aberdeen property named in honour of his mother, Mary Anne MacLeod, who was born and raised on a Scottish island before emigrating to America. The White House has described the trip as "private". The trip shows how the president has become increasingly comfortable intermingling his governing pursuits with promoting his family's business interests. Trump has described Scotland as a "very special place" and made a similar trip there in 2016 during his first run for the presidency, but he will not necessarily get a warm welcome. About 70 per cent of Scots have an unfavourable opinion of Trump, while 18 per cent have a favourable opinion, an Ipsos poll in March found. His visit requires a major police operation that will cost Scottish taxpayers millions of pounds as protests are planned over the weekend. The union representing officers is concerned that they are already overworked and will be diverted from their normal duties. The overseas travel comes as Trump faces the biggest domestic political crisis of his second term in office. Allies and opponents alike have criticised his administration's handling of investigative files related to disgraced financier and sex offender Jeffrey Epstein's criminal charges and the circumstances of his 2019 death in prison. The issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos polling. White House officials, frustrated by the ongoing focus on the Epstein saga, are hoping the controversy dies down while Trump is abroad, one person familiar with the matter said. with PA and Reuters US President Donald Trump has arrived in Scotland as his family's business prepares for the upcoming opening of a new golf course in Aberdeenshire billed as "the greatest 36 holes in golf". Air Force One - the presidential plane - touched down at Prestwick Airport in Ayrshire on Friday just before 8.30pm. The president was met by Scottish Secretary Ian Murray as he disembarked, before heading to the waiting presidential helicopter Marine One, bound for his nearby Turnberry golf course. His presence is expected to spark protests across the country, with Scottish Police being forced to request aid from other forces to help increase manpower for the trip. Trump is set to spend time at his golf resort in Turnberry on Scotland's west coast, before heading to his sprawling golf property 320 kilometres away near Aberdeen in the east. But it won't be all play and no work. He will meet British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen who both want to talk about trade. Trump said Washington was also working hard on a possible trade deal with the EU, which he said was very keen to make a deal. EU diplomats say a deal could result in a broad 15 per cent tariff on EU goods, mirroring a framework agreement with Japan and half of the 30 per cent tariff Trump is threatening to impose by August 1 As part of the visit, he will open a second 18-hole course on the Aberdeen property named in honour of his mother, Mary Anne MacLeod, who was born and raised on a Scottish island before emigrating to America. The White House has described the trip as "private". The trip shows how the president has become increasingly comfortable intermingling his governing pursuits with promoting his family's business interests. Trump has described Scotland as a "very special place" and made a similar trip there in 2016 during his first run for the presidency, but he will not necessarily get a warm welcome. About 70 per cent of Scots have an unfavourable opinion of Trump, while 18 per cent have a favourable opinion, an Ipsos poll in March found. His visit requires a major police operation that will cost Scottish taxpayers millions of pounds as protests are planned over the weekend. The union representing officers is concerned that they are already overworked and will be diverted from their normal duties. The overseas travel comes as Trump faces the biggest domestic political crisis of his second term in office. Allies and opponents alike have criticised his administration's handling of investigative files related to disgraced financier and sex offender Jeffrey Epstein's criminal charges and the circumstances of his 2019 death in prison. The issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos polling. White House officials, frustrated by the ongoing focus on the Epstein saga, are hoping the controversy dies down while Trump is abroad, one person familiar with the matter said. with PA and Reuters US President Donald Trump has arrived in Scotland as his family's business prepares for the upcoming opening of a new golf course in Aberdeenshire billed as "the greatest 36 holes in golf". Air Force One - the presidential plane - touched down at Prestwick Airport in Ayrshire on Friday just before 8.30pm. The president was met by Scottish Secretary Ian Murray as he disembarked, before heading to the waiting presidential helicopter Marine One, bound for his nearby Turnberry golf course. His presence is expected to spark protests across the country, with Scottish Police being forced to request aid from other forces to help increase manpower for the trip. Trump is set to spend time at his golf resort in Turnberry on Scotland's west coast, before heading to his sprawling golf property 320 kilometres away near Aberdeen in the east. But it won't be all play and no work. He will meet British Prime Minister Keir Starmer and European Commission President Ursula von der Leyen who both want to talk about trade. Trump said Washington was also working hard on a possible trade deal with the EU, which he said was very keen to make a deal. EU diplomats say a deal could result in a broad 15 per cent tariff on EU goods, mirroring a framework agreement with Japan and half of the 30 per cent tariff Trump is threatening to impose by August 1 As part of the visit, he will open a second 18-hole course on the Aberdeen property named in honour of his mother, Mary Anne MacLeod, who was born and raised on a Scottish island before emigrating to America. The White House has described the trip as "private". The trip shows how the president has become increasingly comfortable intermingling his governing pursuits with promoting his family's business interests. Trump has described Scotland as a "very special place" and made a similar trip there in 2016 during his first run for the presidency, but he will not necessarily get a warm welcome. About 70 per cent of Scots have an unfavourable opinion of Trump, while 18 per cent have a favourable opinion, an Ipsos poll in March found. His visit requires a major police operation that will cost Scottish taxpayers millions of pounds as protests are planned over the weekend. The union representing officers is concerned that they are already overworked and will be diverted from their normal duties. The overseas travel comes as Trump faces the biggest domestic political crisis of his second term in office. Allies and opponents alike have criticised his administration's handling of investigative files related to disgraced financier and sex offender Jeffrey Epstein's criminal charges and the circumstances of his 2019 death in prison. The issue has caused a rare breach with some of Trump's most loyal Make America Great Again supporters, and majorities of Americans and Trump's Republicans say they believe the government is hiding details on the case, according to Reuters/Ipsos polling. White House officials, frustrated by the ongoing focus on the Epstein saga, are hoping the controversy dies down while Trump is abroad, one person familiar with the matter said. with PA and Reuters

Gwyneth Paltrow becomes Astronomer 'spokesperson' after Coldplay concert saga
Gwyneth Paltrow becomes Astronomer 'spokesperson' after Coldplay concert saga

ABC News

time15 hours ago

  • ABC News

Gwyneth Paltrow becomes Astronomer 'spokesperson' after Coldplay concert saga

Tech company Astronomer has poked fun at its recent Coldplay concert scandal by hiring band frontman Chris Martin's ex-wife, Gwyneth Paltrow, as a "temporary spokesperson". The company made headlines last week when its married CEO, Andy Byron, and HR chief, Kristin Cabot, were captured together on the kiss cam at a Coldplay concert. Martin was heard saying: "Either they're having an affair or they're just very shy." Both of them later resigned from their positions at Astronomer and the fallout made global headlines and led to a string of internet memes. Now, the company appears to be using its newfound internet fame as a promotional tool. A company video captioned "thankyou for your interest in Astronomer" opens with actor Paltrow saying: "Astronomer has gotten a lot of questions over the last few days and they wanted me to answer the most common ones." A title on the screen reads: "OMG what the actual F." "Unifying the experience of running data, ML and AI pipelines at scale," she answers. "We've been thrilled so many people have a newfound interest in data automation. As for the other questions we've received — yes! There's still room available at our Beyond Analytics event in September. Paltrow then goes on to talk about the company and its upcoming events. "Thank you for your interest in Astronomer." Astronomer was a previously obscure tech company based in New York. It provides companies with a platform that helps them organise their data. Before Ms Cabot and Mr Byron resigned, the company posted a statement on its LinkedIn and X accounts saying it would conduct a formal investigation into the pair's actions. "Astronomer is committed to the values and culture that have guided us since our founding," it said. "Our leaders are expected to set the standard in both conduct and accountability. "The board of directors has initiated a formal investigation into this matter and we will have additional details to share very shortly. "[Astronomer senior director, people] Alyssa Stoddard was not at the event and no other employees were in the video. "Andy Byron has not put out any statement, reports saying otherwise are all incorrect." The company did not mention the Coldplay concert in its statement. It instead referred to an "event" and used careful, vague wording like "this matter". Now, it appears the company has embraced the reason for its sudden fame and, perhaps in an intentional move, picked Paltrow because she is Martin's ex-wife.

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