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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...

Ethylene oxide (EtO) is about 60 times more carcinogenic than believed in 2006, research findsA new Trump administration plan to rescind 2024 regulations for toxic ethylene oxide (EtO) pollution more broadly aims to limit the Environmental Protection Agency’s authority to strengthen public health protections around hazardous emissions and could result in more of the toxin being released into the air.Recent research has found EtO is about 60 times more carcinogenic than thought when the last regulations were developed in 2006. In 2024, the Biden EPA passed a rule that strengthened the regulations to reflect the updated science, and required the nation’s EtO emitters to collectively cut their emissions by about 90%. Continue reading...

CEO of Danish shipping group says increased costs due to higher fuel bills passed on to customersBusiness live – latest updatesThe boss of the shipping company Maersk has said the reopening of the strait of Hormuz would have a “limited impact” on cargo flows, as the industry grapples with a sharp rise in energy costs.Vincent Clerc, chief executive of the Danish shipping group, said its fuel bill had nearly doubled since the start of the conflict, adding as much as $500m (£367m) in costs per month, but it had passed this on to its customers through higher freight rates. Continue reading...

Cap of 20mph in towns and cities and 60mph on motorways would cut fuel demand and combat rising prices, IPPR saysBritain should lower speed limits for drivers as part of a package of measures to reduce the impact of the Iran war on consumers, a thinktank has said.Capping legal speeds at 20mph in towns and cities and 60mph on motorways would help reduce fuel demand and combat soaring oil prices triggered by conflict, according to the Institute for Public Policy Research (IPPR). Continue reading...

• The Trump administration's Department of Health and Human Services notified hospitals and nursing homes on May 4, 2026, to prioritize 'real food' over sugary drinks and dietary supplements in patient meals. • The policy shift faced immediate backlash from healthcare providers concerned about implementation and patient preferences. • This agenda aims to combat diet-related diseases amid rising obesity rates, potentially affecting millions of inpatients annually.

• India's government is changing airport privatisation rules to restrict any single entity from controlling more than 4 airports, down from Adani's current portfolio of 6, as 11 new airports are put up for bidding. • The policy shift aims to increase competition in the airport sector and prevent monopolistic control, marking a significant change from the 2018 bidding process where Adani won all 6 airports with no bid caps. • The move balances investment attractiveness with competition concerns, as industry stakeholders debate whether the new rules will deter or encourage participation from multiple operators.

Treasurer Jim Chalmers had indicated ‘transitional’ proposed changes as Labor attempts to repair a ‘structurally flawed’ budgetFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOnly applying changes to the CGT discount and negative gearing rules to new investments would “severely delay” desperately needed reforms required to repair a “structurally flawed” budget and boost the economy, Deloitte says.The consulting firm estimated that a policy which cut the 50% capital gains tax discount to 33% and abolished negative gearing would only generate $500m over the first four years of operation if existing investments were not included – an approach known as “grandfathering”. Continue reading...