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Labor looks to negotiate with the Coalition to get several pieces of legislation through parliament. Follow today’s news liveGet our breaking news email, free app or daily news podcastGovernment listening to ‘money and power’ on gambling says independent MPKate Chaney, who was on the inquiry with the late Labor MP Peta Murphy that handed down the landmark ‘you win some, you lose more’ report on gambling harm, says so far it seems the talks between the Coalition and Labor on a gambling reform package are “disappointing”.In 2017, when the last round of partial restrictions came in, the money just moved around. And for example, gambling ads after 8:30 more than doubled, increased 131%. And I suspect that that’s what we’re going to see here too: is the money moving around.I think it is about the government listening to the money and the power, not the people. The gambling companies make big political donations. They are present lobbyists in this building. We’re hearing their talking points coming out of the Prime Minister’s mouth. And the media companies and the sports codes make a lot of money out of gambling too. Unfortunately, Australians pay the cost for that. And the average Australian household loses more in gambling than they pay for in electricity. So this is our blind spot.I think that that whole interview was pretty cringe. Let’s face it, the Prime Minister didn’t really cover himself with glory with that And it’s disturbing to hear that the the Japanese government has expressed some concerns about it.We’re talking about a a really special gift that the Japanese state has given to the country. And if I was the PM, I’d pick up the phone to the Japanese Prime Minister and apologise to her on on this one.When the the Prime Minister’s crude and dirty podcast banter is formally raised by the Japanese government. Anthony Albanese just has an embarrassed himself. He’s embarrassed Australia. This is now a a diplomatic incident because of the the appalling behaviour of the Prime Minister. Continue reading...

Natto toast, fresh fruit sandwiches and soufflé pancakes all part of growing interest in east Asian cuisineGolden brown and glistening with melted butter, a tray of freshly baked bread fills the screen in a TikTok video. The camera lingers on the glossy tops before one bun is gently pulled apart, revealing a cloud-soft interior.The clip is one of countless videos of Japanese milk buns that have racked up millions of views and thousands of comments and shares, helping to propel the pillowy rolls into UK supermarkets. Continue reading...

• The Voting Rights Act marks its 61st anniversary amid ongoing legal and legislative battles over ballot access and voter protections. • Advocates warn that recent court rulings and new state laws are actively weakening protections specifically designed for Black voters. • Despite these challenges, election advocates report a surge in Black voter participation across several Southern primaries.

The 2-1 vote along party lines repealed ‘national cap’ that served as a key check on consolidation of the TV industryIn a historic vote on Thursday morning, the Federal Communications Commission (FCC) voted along party lines to overturn a key check against the consolidation of the television industry, throwing out a rule that prevented any one company from owning stations that collectively reach more than 39% of all US TV households.The vote is a win for television conglomerates that aim to expand their reach across the country, particularly conservative-leaning companies like Sinclair Broadcast Group and Nexstar. Continue reading...

• Asian stock markets experienced a significant jump, with Japanese and South Korean indices surging as the artificial intelligence rally returned. • The positive momentum follows a record-breaking close on Wall Street, which has also pushed U.S. stock futures higher. • While the broader AI sector is rallying, specific companies like SpaceX and AMD saw dips following their recent earnings reports.

• U.S. Soccer has signed Argentine manager Mauricio Pochettino to an extended contract that secures his leadership through the 2030 World Cup. • The new deal extends his tenure beyond the initial 2026 tournament, reflecting a long-term commitment to stability and growth for the USMNT. • U.S. Soccer official Batson emphasized that the investment in Pochettino is part of a broader strategy to raise expectations as the sport grows globally.

• Indian boxers secured a total of ten medals, including seven golds and three silvers, at the 23rd edition of the Commonwealth Games (CWG 2026). • Ankush Panghal and Sachin Siwach were the headline performers of the contingent, contributing to the team's overall success. • The victory highlights India's continued dominance in boxing, following strong domestic performances and previous appearances at the 2023 Asian Games.

• Amazon received approximately $600 million in tariff refunds for Q2 2026 following a February Supreme Court ruling against IEEPA tariffs. • The company plans to automatically refund eligible customers and utilize any remaining funds to lower product prices. • Other major retailers are seeing similar impacts, with Apple reporting a 5% (11 cents) boost to earnings per share and Costco pledging to return a portion of its rebates to consumers.

• South Korea's KOSPI index surged by 15%, climbing past the 6,400 mark during Friday morning trading. • The rally was driven by sharp rebounds in semiconductor giants Samsung and SK Hynix, following strong cloud earnings reports from Microsoft and Amazon. • This recovery signals a return of the AI chip rally in Asia, reversing previous losses and highlighting the critical link between U.S. cloud demand and Korean hardware.

• South Korea's Kospi index experienced a record 17% surge, driven by a powerful rally in AI-related technology stocks. • Major chipmakers led the growth, with SK Hynix and Samsung Electronics both jumping over 23%, while Taiwan Semiconductor Manufacturing Co. rose 10%. • These three companies served as the primary contributors to the gains seen across the MSCI Asia Pacific equities index.

• The KOSPI index surged 15%, climbing past the 6,400 mark as the AI chip rally returned to Asian markets. • The rally was driven by sharp rebounds in Samsung and SK Hynix, following strong cloud earnings reports from Microsoft and Amazon. • This recovery highlights the critical link between U.S. big-tech cloud spending and the valuation of South Korean semiconductor giants.

Government’s special envoy returns to the witness box again today; three victims found in burned-out house in Wiley Park. Follow updates liveGet our breaking news email, free app or daily news podcastOne of the 19 Closing the Gap targets has officially been reached after early childhood education enrolment for First Nations children hit 95% across the country.Released by the Productivity Commission today, the annual data compilation report showed an increase from 61.3% enrolments in 2016 (the baseline year), to hitting the 95% mark across every state and territory today.This result is encouraging, as are improvements in eight other targets including employment and education.However, it is very concerning that we are still seeing outcomes worsening for early childhood development, children in out-of-home care, incarceration rates and suicide. Continue reading...

• AI-related semiconductor stocks are experiencing a sharp downturn as investor sentiment shifts from "greed" to "fear," leading to widespread sell-offs. • Nvidia has been particularly impacted, with the cost of protecting its debt against default surging by the most on record. • Vey-Sern Ling of Union Bancaire Privee notes that investors are currently interpreting news negatively and selling impulsively rather than analyzing fundamental impacts.

• UBS Group stock has stabilized following strong 2024 earnings and the successful integration of Credit Suisse. • The bank's positive performance is driven by solid balance-sheet metrics and the implementation of capital returns to shareholders. • Potential risks include increased market volatility and lower capital-market valuations, which could negatively impact trading results and fee income.

• Taiwan is integrating artificial intelligence, robotics, and connected-care systems to address the challenges of one of the world's fastest-aging populations. • The government and private sector aim to transform this demographic crisis into a new economic growth engine by building a robust "senior-tech" industry. • These technological advancements are designed to improve elderly care management and support a super-aged society through automated health monitoring and assistance.

• The Rampur Development Authority has issued a notice to demolish 38 out of 40 buildings at Mohammad Ali Jauhar University. • The order, sent on July 15, gives the institution until August 5 to comply, sparing only the academic block and medical college. • This action threatens to virtually shut down the university, which was founded by senior Samajwadi Party leader Azam Khan.

• Director Yeon Sang-ho is returning to the 'Parasyte' franchise to helm a new live-action series titled 'Parasyte: Tamiya'. • The upcoming production will feature actress Shioli Kutsuna and is scheduled for release on Netflix in 2027. • This project expands the live-action adaptation of the popular series, leveraging Yeon Sang-ho's previous experience with the franchise.

UK warehouse landlord says board unanimous in recommendation to accept ‘best and final offer’ The board of the UK warehouse landlord Segro has U-turned and said it would be willing to accept a £14bn takeover by Segro’s bigger US rival, Prologis, in a deal that would be one of the largest foreign takeovers of a UK-listed company.In the latest blow to the troubled London stock market, Segro said in a statement that its board had “unanimously concluded” it would recommend its shareholders accept what Prologis called its “best and final offer”, made just hours before a deadline. Continue reading...

• Friedrich Merz is leveraging the resignation of party heavyweight Jens Spahn to eliminate a political rival and stabilize his coalition. • The move facilitates a strategic cabinet reshuffle, allowing Merz to implement a political reset ahead of critical regional elections this fall. • These elections are particularly high-stakes in eastern Germany, where the far-right Alternative for Germany (AfD) is projected to perform strongly.

• At the CIO 100 Leadership Live event in New York, IT executives discussed transitioning from initial AI pilots to achieving measurable returns on investment (ROI). • Speakers emphasized that successful AI integration requires a combination of solid IT fundamentals, strong business alignment, and the linking of data to decision-making processes. • This shift is critical as it necessitates the redesign of decision rights, the development of new funding models, and stricter accountability to keep pace with the "agentic economy."

• On February 28, the US and Israel launched joint "pre-emptive" strikes against targets in Iran, escalating a conflict that Iran describes as a "full-scale war." • The military escalation has triggered an immediate economic impact, with US gasoline prices rising to an average of $4 per gallon according to AAA. • This surge in energy costs presents a significant political risk for President Donald Trump, as affordability is expected to be a primary concern for voters.

The fatal shootings of two men, both killed in their vehicles by ICE agents, have rekindled anger over the US’s militarized deportation pushLorenzo Salgado Araujo, 52, was driving to work with his brother and two other passengers in Houston, Texas, when immigration agents began tailing his car. They pulled him over and fired a fatal shot through the open passenger-side window.Six days later in Biddeford, Maine, Joan Sebastián Durán Guerrero, 26, was driving around his neighborhood when agents stopped him at an intersection – right outside the laundromat where he’d often go with his three-year-old daughter – and shot him dead. Continue reading...

• Hungary's opposition party, Fidesz, has petitioned the Constitutional Court to review four major laws recently passed by Prime Minister Péter Magyar's Tisza government. • Fidesz argues that these reforms violate the nation's Fundamental Law and represent an attempt by Magyar to establish an "autocratic rule." • Party representative Tuzson accused the government of taking coercive measures that undermine the rule of law and threaten Hungary's constitutional order.

• India is integrating artificial intelligence into its healthcare system to improve diagnostic access, specifically through the use of AI-driven medical scans and eye disease detection. • A tool developed by the Bengaluru-based company Remidio allows healthcare workers with limited specialist training to perform initial eye screenings, expanding reach to underserved areas. • Medical professionals emphasize that AI is intended to function as a supportive tool for clinicians rather than a replacement for human doctors.

• The Indian junior women’s hockey team concluded its exposure-cum-competition tour of the UK, recording three wins and four losses. • This tour served as critical preparation for the upcoming Women’s Junior Asia Cup, which will take place in Moqi, China. • The tournament is scheduled to run from September 4 to 13, marking a key competitive milestone for the squad.

• South Korea's KOSPI index has entered a bear market after plunging approximately 25% from its record high reached in late June. • The decline was accelerated by an 8% single-session drop and a 30% crash in a twice-leveraged ETF tracking the stock in Hong Kong. • This volatility underscores a dangerous over-reliance on the semiconductor sector, as Samsung Electronics and SK Hynix now comprise over 50% of the KOSPI's weighting.

• Shusha will host the fourth edition of the Global Media Forum on July 13–14, focusing on the theme "The Mission of Media in Promoting Peace: Restoring Truth and Rebuilding Trust." • The event expects nearly 160 participants from 54 countries, including representatives from approximately 30 international news agencies and over 60 leading media organizations. • This gathering is significant as it represents one of the most internationally diverse media events in the South Caucasus region this year.

• Congress returns to Washington on Monday to tackle a dense legislative agenda before the upcoming August recess and the midterm election cycle. • Lawmakers face a constrained timeline to address several key priorities, though the specific legislative goals were not detailed in the report. • The return to the Capitol is overshadowed by the sudden death of Senator Lindsey Graham, adding a layer of mourning to the political proceedings.