Latest news with #Packer
Sydney Morning Herald
7 days ago
- Business
- Sydney Morning Herald
How James Packer plans to avoid passing the succession poison chalice to his kids
Packer has plenty of perspective of and understanding on what being handed a poison chalice looks like and has first-hand experience of the emotional toll of running a large business and being in the forensic focus of a constant spotlight. Eschewing this kind of drama, Packer has divulged in an interview with The West Australian that he will simply pass on his fortune equally between his two currently teenage children and their 12-year-old sibling. His plan is greatly enabled by the way his fortune is constructed. Most of Packer's money is invested in shares – largely tech companies that he doesn't control. While it has been a lucrative endeavour for Packer, it has also provided him with an opportunity to remain largely under the public radar. Loading The public inquiries into poor governance of Crown Resorts that uncovered money laundering and relationships with organised crime, for which Packer provided testimony, would have been a particularly bruising experience. Piecing together public snippets about Packer's post-Crown investment strategy suggests he has been a significant beneficiary of the relentless charge of AI and has done well from the foray into, for example, Nvidia. It will have been particularly lucrative if he held his nerve in April when the market turned temporarily sour on technology stocks. The stress of public life and the self-imposed pressure to grow the legacy left by his father was ultimately a curse for the billionaire who has spoken publicly about his mental health issues. Packer's willingness to publicly discuss his emotional frailties has certainly added to the sense that he has become sufficiently enlightened that he wants to avoid the succession curse for any of his children. Loading Free from the shackles of the public glare has enabled Packer to spend more cruising the Mediterranean or South Pacific on his super yacht and allowed him to move between his luxury properties in the ski fields of Aspen, Los Angeles, Argentina, Mexico and Sydney. He told The West Australian: 'In regard to what will happen when I'm gone, unlike people like Kerry Stokes or [Canadian tech guru] Daniel Nadler, I inherited my money. 'Whatever difficulties I've had in my life, I'm incredibly grateful to my father for being as generous to me as he was. 'And, in that regard … I'm going to leave the majority of my wealth to my kids, just like Dad did with his children.' Packer told The West Australian that he planned to pass on his business learnings to all three children as they grew older, but would be equally supportive if they chose to devote themselves to philanthropic causes like their mother, Erica, a long-serving ambassador for humanitarian group UNICEF. It feels like the end of an era.
The Age
7 days ago
- Business
- The Age
How James Packer plans to avoid passing the succession poison chalice to his kids
Packer has plenty of perspective of and understanding on what being handed a poison chalice looks like and has first-hand experience of the emotional toll of running a large business and being in the forensic focus of a constant spotlight. Eschewing this kind of drama, Packer has divulged in an interview with The West Australian that he will simply pass on his fortune equally between his two currently teenage children and their 12-year-old sibling. His plan is greatly enabled by the way his fortune is constructed. Most of Packer's money is invested in shares – largely tech companies that he doesn't control. While it has been a lucrative endeavour for Packer, it has also provided him with an opportunity to remain largely under the public radar. Loading The public inquiries into poor governance of Crown Resorts that uncovered money laundering and relationships with organised crime, for which Packer provided testimony, would have been a particularly bruising experience. Piecing together public snippets about Packer's post-Crown investment strategy suggests he has been a significant beneficiary of the relentless charge of AI and has done well from the foray into, for example, Nvidia. It will have been particularly lucrative if he held his nerve in April when the market turned temporarily sour on technology stocks. The stress of public life and the self-imposed pressure to grow the legacy left by his father was ultimately a curse for the billionaire who has spoken publicly about his mental health issues. Packer's willingness to publicly discuss his emotional frailties has certainly added to the sense that he has become sufficiently enlightened that he wants to avoid the succession curse for any of his children. Loading Free from the shackles of the public glare has enabled Packer to spend more cruising the Mediterranean or South Pacific on his super yacht and allowed him to move between his luxury properties in the ski fields of Aspen, Los Angeles, Argentina, Mexico and Sydney. He told The West Australian: 'In regard to what will happen when I'm gone, unlike people like Kerry Stokes or [Canadian tech guru] Daniel Nadler, I inherited my money. 'Whatever difficulties I've had in my life, I'm incredibly grateful to my father for being as generous to me as he was. 'And, in that regard … I'm going to leave the majority of my wealth to my kids, just like Dad did with his children.' Packer told The West Australian that he planned to pass on his business learnings to all three children as they grew older, but would be equally supportive if they chose to devote themselves to philanthropic causes like their mother, Erica, a long-serving ambassador for humanitarian group UNICEF. It feels like the end of an era.
Herald Sun
19-06-2025
- Business
- Herald Sun
End of financial year review: Does your home loan measure up? - realestate.com.au
The end of a financial year often brings a natural focus on finances — especially if you are investing in property as you prepare for tax returns. As one of your biggest financial commitments, it's the perfect time to review your home loan to ensure it meets your goals for the financial year ahead. Some borrowers have already kicked off their reviews, with the latest Mortgage Choice Home Loan Report revealing the value of refinance loans was up 30 per cent year-on-year over the March quarter. It could be worth reviewing your home loan. MORE: Mystery buyer of Packer's $80m pad revealed So, is it worth finding out if your home or investment loan is still giving you the best bang for your buck? The short answer is of course yes. Your reasons for reviewing your loan will be different to your neighbours', but it's worth taking time to review your loan to ensure it's working for you. Reach out to a mortgage broker who can compare your loan against what's in the market to see if you can access a sharper rate, an improved loan structure, or help you understand if you can tap into your equity. This end of financial year, ask yourself these four questions. Can I access a better rate? The Reserve Bank of Australia has already delivered two rate cuts this year, and the market is predicting a third cut on 8 July. As we see more cuts to the cash rate, competition will ramp up as some lenders pass on the savings in full, and others don't. A couple discussing their home loan with a mortgage broker. Picture: iStock. MORE: Black Stump demise exposed, menu emerges Some lenders are offering great rates to attract new customers, so if your home loan rate doesn't start with a 5, you might be paying too much. Can I claim tax deductions? If you have a mortgage on an investment property, now is the perfect time to take stock of the interest you paid, as well as any expenses related to property maintenance or management as you may be able to claim tax deductions relating to these expenses on your next return. Will a better loan structure offer me any benefits? Refinancing could help you access different loan features or a structure that better suits your needs, such as an offset account or redraw facility. Am I rolling off a fixed rate? If your fixed-rate term is coming to an end soon, it's the right time to shop around. When your fixed term ends, your lender will automatically move you onto a standard variable rate loan, but it may not be the most competitive on offer. Can I access equity? Property values continue to rise, with national values up 4.12 per cent year-on-year according to the May PropTrack Home Price Index. If your property has increased in value while you've had your home loan, you may have equity built up that could help you negotiate a lower rate or even put you in a position to upgrade your home or purchase another property.
Daily Mirror
17-06-2025
- Health
- Daily Mirror
Abortion prosecution horror as woman arrested in hospital while still bleeding
A law change aimed at decriminalising abortion in England and Wales was debated in the House of Commons after a string of women have faced prosecution and even jail Half a dozen women in England and Wales have recently faced prosecution after having an abortion, but after more than a century, this week could see a major change that allows women the right to choose. MPs debated in the Commons on a law change aimed at decriminalising abortion in England and Wales. While the Abortion Act in 1967 allowed access to abortion, the 1861 law - the Offences Against the Person Act - was not revoked. It means abortion was illegal, but allowed up to the first 24 weeks of pregnancy, and beyond then if the mother's life is in danger. Recent changes to the law, introduced in lockdown, have meant that women can access pills to terminate pregnancies under 10 weeks at home through the "pills by post" scheme. In 2022, the most recent available data, more than 250,000 abortions were reported, the highest figure since records began. However in the last five years, abortion providers have reported 100 requests for medical records from police officers in relation to suspected abortion offences, the BBC reports. Just last month, Nicola Packer, 45, was cleared by a jury after being accused of having an illegal abortion. In November 2020, when she was 26 weeks pregnant, she took an abortion medicine at home during the coronavirus lockdown, Isleworth Crown Court heard. Ms Packer, then 41, took the medications after they were prescribed over the phone due to lockdown restrictions. She delivered the baby and took her to Chelsea and Westminster Hospital in a backpack the following day. Ms Packer said she hadn't realised how far along she was in her pregnancy, and expressed her "shock" at being pregnant given her age. She told the jury that if she had known she was more than 10 weeks, she wouldn't have gone ahead with the medication. Ms Packer had spent the night of November 7 in the hospital and had initially said she miscarried naturally. She had told two midwives the next day that she had taken abortion pills through the post, received from Marie Stopes, one of the largest providers of contraception and abortions. While recovering from surgery for a stillbirth and still bleeding, she was arrested at the hospital by police the same day. Prosecutors had picked apart her sex life during the trial, with it taking her four years to clear her name. Ms Packer is one of six women to be prosecuted for the crime since the end of 2022 under the Offences Against the Person Act, which, since its introduction in 1861, had only been used three times. In June 2023, a mum-of-three was jailed for more than two years for inducing an abortion after the legal limit. Carla Foster, 45, who became pregnant in 2019, had moved back in with her estranged partner at the start of lockdown whilst carrying another man's baby. The court heard she had sought to hide her pregnancy, which the judge accepted as "emotional turmoil". Ms Foster had a remote consultation before being prescribed the medication, and said she wasn't sure how far along she was. Stoke Crown Court heard she was between 32-34 weeks when she took the pills. Judge Mr Justice Edward Pepperall said it was a "tragic" case, adding that the defendant, who later pleaded guilty to administering drugs to procure abortion, was "wracked by guilt" and had suffered depression. Her 28-month sentencing outraged campaigners, with the British Pregnancy Advisory Service (BPAS) saying it was "appalled" by the sentencing based on "archaic law". In January 2024, Bethany Cox, 22, was found not guilty of carrying out an illegal abortion on herself. On the eve of her trial, the prosecution dropped the case due to "evidential difficulties". Nicholas Lumley KC, for Ms Cox, said she had given birth in July 2020 at the end of the coronavirus lockdown. Whilst "in the throes of grief", the young woman, from Stockton, had been interviewed by police and was under police investigation for three years before being charged. Mr Lumley said it was "beyond regrettable" that she had suffered so extensively. In December last year, Sophie Harvey, 25, and her boyfriend Elliot Benham were given community orders after prosecutors accepted she did not illegally abort their baby. Meanwhile another woman, whose identity was protected, had her case dropped, with a judge saying he was "flabbergasted" to see it in court. Then there are the women whose names didn't make headlines, including a teenager who was arrested in front of her neighbours after having a late miscarriage, the Guardian reports, and cases of women who have been denied contact with their children whilst being investigated. Some women and girls who have had terminated pregnancies past the legal cut-off have been vulnerable, including victims of domestic violence. A BPAS spokesperson told The Guardian: 'We're aware of cases where the woman has been investigated, or even imprisoned, and nothing has happened to her abusive partner.' The harrowing case of Ms Packer put England and Wales' current abortion laws back into the spotlight, with the trial demonstrating "just how outdated and harmful" current abortion law was, according to the Royal College of Obstetricians and Gynaecologists. Dr Ranee Thakar, the college's president, said: "As a doctor, I am acutely aware of how vital it is that women can access essential healthcare in a safe and supportive environment. "Restrictive abortion laws in England and Wales nurture an environment of fear, stigmatisation and criminalisation. Abortion reform is urgently needed, and now is the time for change." Two Labour MPs, Tonia Antoniazzi and Stella Creasy, tabled rival amendments to the Crime and Policing Bill. The aim was to prevent women from being investigated, prosecuted, or imprisoned for terminating their own pregnancies. Ms Antoniazzi has argued that the probes are "dehumanising and prolonged and the women forced to endure them are often extraordinarily vulnerable". She added: "The reality is that no woman wakes up 24 weeks pregnant or more and suddenly decides to end their own pregnancy outside a hospital or clinic. "But some women, in desperate circumstances, make choices that many of us would struggle to understand. What they need is compassion and care, not the threat of criminal prosecution." Meanwhile, Ms Creasy's rival amendment would position abortion access as a human right.
Elle
11-06-2025
- Politics
- Elle
The UK Government Will Vote On Decriminalising Abortion This Week — Here's Everything You Need To Know
Next Tuesday, on June 17, MPs will get a free vote on whether to decriminalise current abortion laws in England and Wales. While it is a commonly-held belief that abortion is legal in the UK, the reality is that it isn't. Abortion is still technically illegal due to a piece of Victorian legislation, the Offences Against the Person Act of 1861, and is only widely available due to exceptions laid out in a 1967 amendment. FIND OUT MORE ON ELLE COLLECTIVE Next Tuesday's vote asks that abortion be taken entirely out of criminal law, which will hopefully enshrine women's reproductive rights more within law, making it harder for future governments to pass laws that may impede them. The campaign in question encourages constituents to email their local MPs (an email template for which can be found here) before Sunday, June 11. The Parliamentary vote comes at a prescient time for women's reproductive rights. In the past three years alone, in England, six women have appeared in court charged with ending or attempting to end their own pregnancy, outside of the terms of the 1967 Abortion Act. Last month, Nicola Packer was cleared by a jury of 'unlawfully administering' herself with abortion pills at home during a coronavirus lockdown in 2020. Packer had taken prescribed abortion medicine when she was around 26 weeks pregnant, beyond the legal limit of 10 weeks for taking such medication at home. She told jurors she did not realise she had been pregnant for more than 10 weeks. A petition urging the government at Westminster to 'remove abortion from criminal law so that no pregnant person can be criminalised for procuring their own abortion' gathered more than 103,653 signatures. The issue of decriminalising abortion was then debated in Parliament on June 2, 2025. ELLE Collective is a new community of fashion, beauty and culture lovers. For access to exclusive content, events, inspiring advice from our Editors and industry experts, as well the opportunity to meet designers, thought-leaders and stylists, become a member today HERE. Naomi May is a freelance writer and editor with an emphasis on popular culture, lifestyle and politics. After graduating with a First Class Honours from City University's prestigious Journalism course, Naomi joined the Evening Standard as its Fashion and Beauty Writer, working across both the newspaper and website. She is now the Acting News Editor at ELLE UK and has written features for the likes of The Guardian, Vogue, Vice and Refinery29, among many others.
