Extends

• Asian stock markets declined as investors mirrored a global tech sell-off driven by fears that the artificial intelligence rally has become overheated. • Market participants are increasingly questioning high valuations in the AI sector due to rising operational costs and intensifying competition. • US Treasury yields fell following the release of softer jobs data and a drop in oil prices, which reduced expectations for further Federal Reserve rate hikes.

• Asian markets traded lower on Thursday, with South Korea's Kospi and Japan's Nikkei 225 both experiencing declines. • The downturn was primarily driven by a deepening global selloff in technology and chip stocks following a weak trading session on Wall Street. • Investor sentiment was further impacted by softer oil prices, which indicated a reduction in global supply concerns.

Trump administration created fund to resolve his lawsuit against the IRS over the leak of his tax returnsSign up for the Breaking News US newsletter emailA US federal judge agreed on Friday to extend a court-ordered block on the Trump administration’s creation and operation of a $1.8bn settlement fund for compensating people who claim to be victims of a weaponized government.Earlier this month, Todd Blanche, the acting US attorney general, told Congress that the government is scrapping its plans for the fund in the face of a fierce bipartisan backlash. Government attorneys have argued that lawsuits challenging the fund are now moot, but plaintiffs’ attorneys aren’t satisfied by Blanche’s assurances that the fund won’t move forward. Continue reading...

Rare reprieve for people protected by temporary protected status granted after administration misses deadlineThe Trump administration has extended protections shielding about 11,000 Lebanese people from deportation, allowing them to stay and work in the United States for another six months.The decision, announced Thursday by the Department of Homeland Security (DHS), marked a rare reprieve for people protected by temporary measures that have been harshly criticized by Republicans. The extension comes amid ongoing fighting in southern Lebanon between Israeli troops and Hezbollah fighters. Continue reading...

• Congress MP Karti Chidambaram announced conditional support to TVK for government formation, emphasizing respect for the public's mandate for change. • Support is offered provided the administration remains secular and excludes communal elements or BJP-aligned parties like AIADMK. • Chidambaram defended the shift from DMK ally, noting no pre-poll alliance had majority and aiming to block BJP influence via proxies.

As the cost of the scheme blows out, the government has announced the full discount will be retained for another year, after which it will only apply to EVs costing less than $75,000Get our breaking news email, free app or daily news podcastLabor has opted to retain its electric vehicle discount in full for another year, as Australians rush to buy EVs amid soaring fuel costs linked to the Iran war.But the budget next Tuesday will include a number of “sensible changes” that wind back the scale of support over the next three years, as the government acknowledges the need to deliver a “more financially sustainable” tax incentive for EVs amid ballooning costs of the scheme. Continue reading...