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Consumer advocacy group Choice blind tested 30 olive oils – and found many of the highest ranked came from AustraliaGet our breaking news email, free app or daily news podcastConsumer advocacy group Choice has taste tested 30 supermarket extra-virgin olive oils, and found some Australian-made oils rank higher than those imported from Italy and Spain.“A lot of Australians are after local products, and there are a lot of Australian olive oil makers that have built quite a good reputation,” Pru Engel, Choice audience and engagement editor, said. Continue reading...

• Chinese hedge funds have issued warnings that the current artificial intelligence "super bubble" could potentially burst by 2026. • The alert highlights growing concerns over whether AI valuations are sustainable, creating new risks for global financial markets and tech investors in South Africa. • This warning matters as it suggests a potential correction in the massive capital inflows and soaring stock prices driven by AI optimism.

• DBS Bank reports that the global AI "arms race" is triggering a multi-year capital expenditure supercycle estimated to reach $1 trillion. • While semiconductors were the initial focus, the investment surge is now expanding into energy, networking, data centers, and general infrastructure. • This shift is driven by the rise of sovereign AI investments and an escalating demand for power to support massive computing needs.

• Treasurer Jim Chalmers is considering the introduction of superannuation for individuals under 18 and defended Treasury forecasts predicting continued growth in house prices. • Chalmers noted that an increase in the Australian fuel excise is expected to have a direct impact on national inflation rates. • In international sports, Brazil defeated Japan 2-1 during the World Cup, securing the victory with a late goal.

• The author argues that Europe will never achieve "AI superpower" status or catch up to industry leaders like OpenAI and Anthropic due to insufficient funding and delayed investments in AI gigafactories. • European industry players are currently avoiding large-scale data center investments, preferring less compute-intensive approaches to applied AI. • To maintain technological independence, the continent should pivot from superpower ambitions to a "middle power" strategy, focusing on its distinctive strengths and collaborating with other mid-sized nations.

• Chinese hedge funds have issued warnings that the artificial intelligence sector may be entering a "super bubble," signaling a high risk of a major market crash. • Analysts suggest that if a market correction occurs, some AI-related stocks could experience drastic price drops of up to 80%. • This caution stems from a growing divergence between the rapid appreciation of stock prices and the actual underlying value of the technology.

Any new tax on the rich won’t raise much money unless many of the exceptions and loopholes are dealt withIn this new era of rampaging oligarchs, nothing may seem as satisfying as slapping a tax on Elon Musk’s new trillion-dollar fortune. What most bothers Americans about federal taxes is that billionaires don’t pay their fair share. As the race to develop artificial intelligence mints more billionaires, policymakers’ temptation to directly tax their brobdingnagian wealth is becoming unbearable.The first state out of the blocks is California, where voters in November will decide whether to impose a one-time tax of 5% on fortunes worth more than $1bn. Given the ease with which plutocrats avoid paying income taxes, the case for this sort of direct tax on their stash appears unassailable. Continue reading...

• The new Supergirl film, starring Milly Alcock, opened with a box office collection of $18 million on June 28, 2026. • The DC reboot is facing significant competition from the release of Toy Story 5, impacting its initial performance. • This opening serves as a critical early indicator of the success of the new DC cinematic direction.