Changes

• Deloitte, PwC, and EY in India have each surpassed 1,000 partners, fueled by rapid expansion in technology consulting. • This surge in headcount is straining the traditional partnership model, as firms struggle to maintain effective governance across increasingly diverse business lines. • The growth necessitates a shift in leadership capabilities, requiring partners to integrate AI and manage constant organizational reinvention to remain competitive.

• Fifth Third Bancorp (FITB) saw its modeled fair value price target increase slightly to US$58.18, up from the previous estimate of US$57.42. • The adjustment follows recent analyst discussions with company management and key takeaways from industry conferences. • This recalibration reflects a shifting analyst perspective on the bank's ability to manage expense controls and credit trends relative to previous concerns.

• A court has struck down an executive order issued by President Donald Trump that sought to implement major changes to the American voting process. • The ruling follows a lawsuit filed by Democratic state attorneys general who challenged the government's assertions of widespread voter fraud. • The decision matters as it reinforces the legal requirement for evidence to justify restrictive voting changes and blocks the administration's attempt to alter election procedures.

The victory may have dinged Labor’s chances of easily passing its significant cost-cutting reforms to the NDIS through the Senate in AugustGet our breaking news email, free app or daily news podcastThe government scored a crucial win on Tuesday, securing support for its tax changes through the Senate. But that victory may have dinged Labor’s chances of easily passing its other major budget measure – significant cost-cutting reforms to the NDIS – through the Senate in August.Labor’s deal with the Greens sees an inquiry into the NDIS extended for two months, with plans for new public hearings and more time for a committee process, after even the health minister, Mark Butler, admitted he had heard “confronting” evidence from the disability community fearful of losing access to key supports. Eight additional weeks of a public inquiry, spearheaded by an activist party hellbent on trying to kill this bill, is not nothing. Continue reading...

Minor party says it has also negotiated an extension to the inquiry into controversial changes to the NDISFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Greens will support the Albanese government’s negative gearing and capital gains tax changes under a deal that will delay and tweak Labor’s planned overhaul of the national disability insurance scheme.The minor party announced its position on Tuesday morning, clearing the path for Labor to pass its contentious budget centrepiece before federal parliament rises for the winter break. Continue reading...

Former party leaders reflect on the turbulence that followed the referendum in which most Scottish voters backed the losing sideThe decision to quit the EU bolstered support for Scottish independence, which a decade after the Brexit referendum is at near record levels, according to Scottish Labour’s former leader Kezia Dugdale.Dugdale said the Brexit vote “creates a frame around fairness” for many in Scotland because, unlike England, Scottish voters comprehensively backed remain in 2016, by 62% to 38%, yet found their country taken out of Europe. Continue reading...

• Chief Information Security Officers (CISOs) report that the integration of AI is increasing the complexity and difficulty of managing cybersecurity. • Despite these stressors, demand for cybersecurity expertise remains high, as companies continue to seek professional guidance to manage inherent risks. • To address funding gaps and resource needs, there is a growing trend toward hiring fractional and virtual CISOs to distribute costs.

Miguel Díaz-Canel cites China and Vietnam as possible models for opening up the country’s economyCuba’s economy needs “urgent changes” to overcome a major crisis intensified by a US oil blockade, president Miguel Díaz-Canel said in a speech to Communist party leaders. “The situation calls for urgent and necessary changes,” Díaz-Canel told the party’s politburo in his frankest admission yet of the need to overhaul the country’s communist model.In the remarks, broadcast on Thursday, he cited China and Vietnam as possible models for opening Cuba’s economy to the world in order to “create economic wealth and distribute it equally.” Continue reading...

Kate Dearden says reforms such as enhanced sick pay simply bring UK into line with other big economiesLabour’s radical workers’ rights reforms have simply put the UK on a “level playing field” with other big economies, the employment minister, Kate Dearden, has said.The government’s Employment Rights Act became law last year, with specific provisions being implemented this year and next. Continue reading...

Report by Labor-led joint human rights committee says cuts to the $50bn scheme could limit support for those in needGet our breaking news email, free app or daily news podcastSweeping changes to the NDIS appear “retrogressive” and lack alignment with a landmark independent review to improve the $50bn-a-year scheme, a Labor-led committee has found.The 57-page scrutiny report from the joint human rights committee, released on Friday, examined the proposed changes under the Albanese government ahead of a separate report due next week by a Senate inquiry. The Labor-chaired committee questioned the human rights implications of winding back access for more than 200,000 participants in the coming years, which could leave many without sufficient disability support. Continue reading...

Plan to move 240,000 people off scheme leads states and territories to jointly warn they can’t ‘deliver like-for-like services to people who are exited from the NDIS’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastState and territory disability ministers have rung alarm bells over the Albanese government’s proposed overhaul of the NDIS, warning they can’t deliver “like-for-like services” for more than 200,000 participants expected to be shifted off the scheme by 2031.The Albanese government’s national disability insurance scheme bill is designed to dramatically curb the growth of the $50bn-a-year scheme by first reducing budgets and then the number of people who can access it from 2028. Continue reading...

Treasury minister Lucy Rigby says the government has the right to alter terms of existing agreementsMinisters have rejected accusations that recent changes to student loans were unfair, arguing they are so heavily subsidised that the government has the right to alter their terms.Pressure has been intensifying on the UK government to reform the student loans system but the chief secretary to the Treasury, Lucy Rigby, told MPs on Wednesday that less than half of young people go to university, and the government had to bear in mind “fairness to taxpayers as a whole”. Continue reading...

Follow today’s news liveGet our breaking news email, free app or daily news podcastA Labor MP has declared victory in the debate over the government’s tax reforms, engaging in a bit of meta-commentary at the end of parliament’s sitting fortnight.Julian Hill made the comments on the ABC’s Afternoon Briefing on Thursday.I believe the government’s won the debate on negative gearing. I believe we’ve won the debate on capital gains tax on property.And we’re winning the debate, we got a way to go, on removing the distortion that would otherwise be there. … I think we’re winning the debate … Start ups and so on, we are still engaging on. Continue reading...

Exclusive: New loopholes for developers will exacerbate extreme environmental disparities, charity coalition warnsThe poorest and most nature-deprived communities in England will be further left behind in their access to green spaces if proposed changes to planning laws go ahead, a new report finds.More than 7.4 million people in England live in areas completely devoid of immediate biodiversity, including 1.42 million children under 15, the report commissioned by a number of wildlife and environmental NGOs says. Continue reading...

Scientists praise moves to investigate, retract or remove controversial studies. The authors stand by their workThree scientific papers that raised questions about vaccine safety and were used by the Trump administration to justify controversial changes to US vaccine policies have over the last two months been removed, retracted or placed under investigation by the journals that published them.In some cases, the actions occurred years after scientists first raised alarms about the studies’ scientific merits. Continue reading...

Greens support needed to pass proposed changes but party concerned it will give government sweeping discretionary powersGet our breaking news email, free app or daily news podcastAnthony Albanese has ridiculed Angus Taylor as a “Temu [Tony] Abbott” amid an increasingly bitter fight over tax changes in the budget, as the Greens raise concerns about key provisions of the government’s proposal.Labor will speed the first tranche of its budget legislation through the lower house on Thursday, and hopes to pass it through the Senate within weeks. Continue reading...

• India's stock trading value reached a record high as passive funds executed massive trades to align portfolios with revised MSCI index weightings. • The surge was driven by portfolio adjustments, though local equities slumped 1.5% during the final hour of trading on Friday as the changes took effect. • This volatility highlights the significant influence of global benchmark indices on the liquidity and price movements of the Indian stock market.

• Defense experts are warning that future military conflicts will be decided by the speed at which targeting data is generated to deliver long-range effects. • This shift emphasizes a move toward rapid, automated targeting cycles to maintain a competitive edge in high-intensity warfare. • The trend signals a critical need for defense infrastructure to integrate AI and real-time data processing to reduce the time between detection and engagement.

• India is introducing the new Industrial Production Index (IIP) Series 2026, which shifts the base year to 2022-23 to better reflect the current economic landscape. • The updated index expands its scope to include modern sectors and products such as vaccines, aircraft parts, gas supply, and rare earth minerals. • These changes are designed to provide policymakers with deeper, more accurate insights into trends within the energy and industrial sectors.

Social services minister ‘concerned’ by some providers meant to help welfare recipients find workGet our breaking news email, free app or daily news podcastGood morning and welcome to our live politics blog. I’m Martin Farrer with the top overnight stories and then it will be Krishani Dhanji with the main action.The social services minister, Amanda Rishworth, was on 7.30 last night defending her decision not to get rid of the controversial for-profit aspects of the jobseeker program. More coming up. Continue reading...

• Finance leader Yogi Goel of Maxima argues that internal revenue data and behavioral signals are more reliable indicators of market shifts than external analyst reports. • Key early warning signs include margin pressure, pricing sensitivity, cohort trends, and changes in client decision-making, such as increased risk aversion or shorter commitments. • While AI can accelerate the processing of these signals, Goel emphasizes that human judgment remains essential for making the final strategic call.

Prime minister launches impassioned argument in favour of much-maligned reforms announced in last week’s federal budget A visibly emotional Anthony Albanese has launched an impassioned defence of Labor’s proposed changes to negative gearing, the capital gains tax discount and family trusts, saying he will “not allow Australia to become a country where aspiration is only for some”.The prime minister has faced sustained criticism to the reforms, which include limiting negative gearing to new-builds while grandfathering existing properties, changing how CGT is calculated and imposing a new 30% minimum tax on discretionary trusts. Continue reading...

Several MPs tell Guardian Australia they are keen to see tweaks, and some are engaging directly with treasurer’s officeGet our breaking news email, free app or daily news podcastLabor MPs expect the government will agree to capital gains tax concessions for startup businesses after a meme-fuelled backlash to the budget, with some wary that scare campaigns could “get out of hand” without clearer explanation of the changes from Anthony Albanese and Jim Chalmers.Guardian Australia spoke to a number of Labor MPs nationwide. Speaking on condition of anonymity, several MPs said they were keen to see change on CGT, with some engaging directly with Chalmers’ office. Continue reading...

Exclusive: Any attempt to use the budget measures as an excuse to raise rent is opportunistic profiteering, housing advocates sayGet our breaking news email, free app or daily news podcastAustralia’s peak community and housing groups have urged federal parliament to quickly pass Labor’s changes to negative gearing and capital gains tax, saying the reforms would improve fairness for renters and young homebuyers.The government may introduce its negative gearing and CGT changes into parliament as soon as the coming sitting fortnight, with hopes of passing the legislation soon after with the support of the Greens. Continue reading...

Exclusive: Greater Manchester understood to support home secretary’s push to limit legal and illegal migrationAndy Burnham is backing Shabana Mahmood’s controversial changes to the immigration system, his allies have said, in a blow to those in Labour who hope to soften them.The Greater Manchester mayor is understood to be keen to reframe the changes but supportive of the home secretary’s attempts to limit legal and illegal migration, which have been criticised by some senior Labour MPs as un-British and mimicking Trump. Continue reading...

Union says emphasis on academic goals conflicts with proposed measures on special educational needs provisionChanges to special educational needs provision in England could be thwarted by “academic attainment at all costs” policies that prioritise exam results and punish inclusive schools, headteachers have said in response to a government consultation.The Association of School and College Leaders said the government’s emphasis on academic goals conflicted with its measures designed to help mainstream schools accommodate more children with special educational needs and disabilities (Send). Continue reading...

Landmark report calls for widespread air conditioning and says UK temperatures forecast to exceed 40C by 2050British homes will need air conditioning to survive predicted levels of global heating, the government’s climate advisers have warned in a report, as measures such as drawing curtains, opening windows and growing trees for shade are not likely to be enough.Air conditioning should be installed in all care homes and hospitals within the next 10 years, and in all schools within 25 years, according to the Climate Change Committee (CCC), which published a major report on adapting to the impacts of global heating on Wednesday. Continue reading...

Independent senator warns budget reform could drive tech investment offshore, as PM thanks startups for ‘very flattering’ imagesGet our breaking news email, free app or daily news podcastAnthony Albanese has laughed off an AI-generated meme campaign against capital gains tax changes from startup founders, thanking them for “very flattering” doctored photos of him working in their businesses.But independent politicians representing some of Australia’s startup hotspots have raised alarm over the proposed increase to capital gains tax, warning the tax changes could see innovative companies and tech firms move overseas to chase higher rewards. Continue reading...