Capital gains tax and negative gearing benefit the 1% and this chart shows it

The ex-lawyer who Trump described as ‘very talented’ was previously deputy commissioner for food at the FDAThe new acting commissioner of the US Food and Drug Administration (FDA), who Donald Trump described as a “very talented person”, is a former corporate lawyer who previously defended a popular formula maker against claims of its product harming premature babies.Kyle Diamantas, who most recently served as the FDA deputy commissioner for food, will be taking over as acting FDA commissioner. Continue reading...

US’s apparent decline has fuelled growing Chinese nationalism while US president has lost his novelty valueTrump in Beijing – latest updatesFive key issues for Xi-Trump summitYaoji Chaogan, a no-frills canteen next to Beijing’s historic Drum and Bell towers, once proudly displayed photographs of Joe Biden, who visited the restaurant when he was US vice-president in 2011. Biden’s visit went viral in China, with media praising his “noodle diplomacy” (one of the dishes that Biden ordered was zhajiang mian, a traditional style of Beijing noodles with bean paste).But evidence of Biden’s visit was removed when the restaurant was redecorated a few years ago. A visit from a US leader is no longer something to boast about. Continue reading...

Opposition leader to unveil plan to dramatically cut number of migrants in budget reply speech on ThursdayExplore all of our 2026 Australia federal budget coverageGet our breaking news email, free app or daily news podcastThe Coalition will directly link Australia’s temporary immigration intake to the number of new homes built around the country, using housing completion figures as a hard ceiling for overseas arrivals.The opposition leader, Angus Taylor, will outline the plan to dramatically cut the number of migrants arriving into the country in his budget reply speech on Thursday night, while also promising a new $5bn housing infrastructure fund and a weakening of the national construction code to speed up building and reduce cost. Continue reading...

Ronald dela Rosa, accused of crimes against humanity by international criminal court, in standoff with authoritiesGunshots have been fired in the Philippine senate, as a senator who is wanted by the international criminal court (ICC) remained holed up in the building to evade arrest.The Philippine senator Ronald dela Rosa, who is accused of crimes against humanity for his role in overseeing the former president Rodrigo Duterte’s so-called war on drugs, has spent two nights in the country’s senate in a standoff with the authorities. Continue reading...

Experts say latest move by acting attorney general suggests more cases against foes amid claims of vindictive DoJThe second indictment of ex-FBI director James Comey, a top target of Donald Trump in his drive for revenge against critics, suggests more charges could be coming against other Trump foes as the US president continues to use the department of justice to settle political scores, ex-prosecutors and law professors said.Legal critics also see the new indictment by acting attorney general, Todd Blanche, as “embarrassing” and “ridiculous” and revealing Blanche’s desire to quickly appease Trump and persuade him to make his appointment as America’s top justice official permanent. Continue reading...

Ofcom attempting to block UK access to site cited in multiple coroners’ reportsA nihilistic internet suicide forum implicated in over 160 UK deaths has been fined £950,000 by the online regulator in its latest attempt to shut it down.Ofcom said the US-based website remains accessible in the UK despite over a year of warnings. Online safety campaigners have accused the regulator of taking an “interminable” amount of time to act. Continue reading...

CEO admits talks with Chery as other European carmakers discuss plans with Chinese firms to share factory spaceNissan’s chief executive has confirmed he would consider building cars for other manufacturers at the UK’s largest car factory in Sunderland, amid talks with China’s Chery.Ivan Espinosa said Nissan was “looking at options” for Sunderland and its 6,000 workers as the struggling Japanese carmaker on Wednesday reported steep losses for the year to March. Continue reading...

Watchdog to examine whether Reform UK leader should have declared donation received before entering parliamentNigel Farage is facing a formal investigation by the parliamentary standards watchdog over a £5m gift from the crypto billionaire Christopher Harborne.The Reform UK leader received the money weeks before announcing he would stand as a candidate in the 2024 general election. Continue reading...

Suspect was seen on fuzzy security photo running between benches of church carrying skull, police sayCzech police are hunting a thief who snatched the 800-year-old skull of a saint from a display box in a church and ran away with the relic.A fuzzy security camera photo released late on Tuesday appeared to show a figure dressed in black carrying what police said was the skull of Saint Zdislava of Lemberk. Continue reading...

FTSE 100 business ‘minded to recommend’ £60-a-share tilt from company owned by billionaire Wallenberg familyThe laboratory testing company Intertek has become the latest FTSE 100 business to agree to a takeover, backing a £10.6bn approach from a private equity firm owned by Sweden’s billionaire Wallenberg family.After rebuffing three previous approaches, Intertek’s board said it was “minded to recommend” the £60-a-share tilt from the Swedish buyout firm EQT to shareholders, if there is a firm offer. Continue reading...

Facility would require more power than entire state uses and suck up vast amount of water in drought-stricken areaA plan to create one of the world’s largest datacenters, a gargantuan project spanning an area more than twice the size of Manhattan, has provoked a furious public backlash in Utah amid concerns over its vast energy use and impact upon the state’s stressed water supplies.The Stratos artificial intelligence datacenter footprint will cover more than 40,000 acres (62 sq miles) over three sites in Box Elder county in north-western Utah. The facility will require about 9GW of power, which is more than the entire state of Utah currently consumes, and suck up a significant amount of water in an area that has been hit by severe drought in recent years. Continue reading...

One elderly passenger on vessel docked in Bordeaux has died and about 50 people have symptoms, say officialsFrench authorities have confined more than 1,700 passengers and crew members to a cruise ship docked in Bordeaux after a passenger died from suspected norovirus, officials have said.The Ambassador Cruise Line vessel carrying 1,233 passengers, most of them British or Irish, arrived in Bordeaux on Tuesday. One 90-year-old passenger had died and about 50 people had shown symptoms of the virus, French health officials said. Continue reading...