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Britain likely to face ‘warm, welcoming stance’ if it seeks re-entry but also a ‘hard-headed one’ – with no special dealsBritain would not be able to rejoin the EU on the special terms it enjoyed in the past, veterans of the Brexit negotiations have said.According to former officials from around Europe, the UK should not expect to achieve as beneficial a deal as it once had if it decided to begin negotiations on re-entry. Continue reading...

With a reshuffled cabinet, the premier is hoping to quell leadership rumblings as her party seeks an unprecedented fourth termGet our breaking news email, free app or daily news podcastAs the Victorian premier, Jacinta Allan, stood alongside the fresh faces in her reshuffled cabinet on Wednesday, she attempted to send her increasingly jaded electorate a blunt message: despite its 12 years in power, her government is – apparently – new.In her opening four-minute preamble to reporters, Allan - whose Labor government will in November seek an unprecedented fourth term - repeated the word 17 times. In one sentence alone, she referred to her “new cabinet”, “new portfolios”, “new solutions” and “new areas that are going to drive this government forward”.Benita Kolovos is Guardian Australia’s Victorian state correspondent Continue reading...

John Hancock welcomes findings on ownership of mines and companies although judge says dispute should be determined in private arbitrationGet our breaking news email, free app or daily news podcastGina Rinehart’s son has said he wants to reunite his family after a landmark court case left a long-running feud over ownership of mines and companies unresolved.The Western Australian supreme court on Wednesday found Rinehart’s children were at one point set to inherit 49% of her company and said their ownership claims should be determined in separate proceedings. Continue reading...

PM is in Saudi Arabia at start of an expected wider trip to Gulf allies, who may view him as more reliable than TrumpMiddle East crisis – live updatesThe UK has a “job” to help reopen the strait of Hormuz, Keir Starmer has said, as Iranian reports said the key shipping route was closed again just hours after a supposed ceasefire.The prime minister met UK and local personnel at an airbase in Taif, Saudi Arabia, at the start of what is expected to be a wider trip to Gulf allies, one billed as a mirror to his efforts to pull together a plan for how a ceasefire might operate in Ukraine. Continue reading...

Two-thirds of teenagers are still on social media platforms included in the ban, according to the eSafety commissionerFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastWhen the age assurance technology trial released its final report before Australia’s under-16s social media ban came into effect last year, its first finding was: age assurance can be done privately, efficiently and effectively.Four months since the ban came into effect, we can say that was – to paraphrase Yes Minister – a courageous statement. Continue reading...

US firm Eli Lilly, which is also pushing for end to rebate scheme, optimistic about talks with ministersThe US pharmaceutical group behind the Mounjaro weight-loss drug has said it will unpause its UK investments if ministers agree to regularly increase NHS drug prices and end a rebate scheme.Patrik Jonsson, the president of Eli Lilly’s international business, said the company was in talks with UK ministers and that he was optimistic about reaching an agreement this summer for Britain to pay more for its medicines. Continue reading...

Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflictBusiness live – latest newsThe price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “take the oil in Iran”, sending Asian stock markets tumbling.Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island. Continue reading...