Australia-US relations descending into a ‘farce' with Albanese at the helm
Prime Minister Anthony Albanese has downplayed concerns over the strength of the US-Australia alliance, saying he is 'not worried' about relations with President Donald Trump.
'Irrespective of whether the prime minister likes or doesn't like Donald Trump, the prime minister has a responsibility to have a working relationship with the president,' Mr Wallace told Sky News host Danica De Giorgio.
'Clearly the president has got Anthony Albanese in the freezer.'
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The Australian
13 minutes ago
- The Australian
Brisbane-based Swyftx will buy Melbourne-based Caleb & Brown
Australian cryptocurrency exchange Swyftx has sealed a mega deal to acquire a US-focused crypto brokerage targeting millionaires in Donald Trump's self-declared 'crypto capital of the planet'. The acquisition is believed to be worth between $100m and $200m. Brisbane-based Swyftx will buy Melbourne-based Caleb & Brown, which has built a business focused on rich US private investors who are increasingly piling into crypto assets after President Trump declared he wanted to make the country the world's crypto capital. Such investors have at least $1m in liquid assets. The acquisition, the largest crypto deal ever in Australasia, comes three months after Swyftx signed a deal to buy Easy Crypto, New Zealand's largest cryptocurrency exchange. Swyftx has successfully emerged from challenges in recent years, chiefly a failed merger in 2022 with rival Superhero to create a wealth management platform administering $1.5bn in cryptocurrency, direct equities and superannuation assets. The same year it sacked 90 staff, equivalent to more than one-third of its employees, amid the brutal downturn in trading volumes following the collapse of US-based crypto exchange FTX. Swyftx chief executive Jason Titman said the deal was 'laser-focused on supporting high rolling crypto investors in the US'. The US accounts for about a quarter of all global trade volumes in cryptocurrency. 'We're entering a golden age for digital assets,' said Mr Titman, who declined to value the deal except to say it was in the 'tens of millions'. 'There are a lot of the new breed of wealthy investors who want a service that is ultra client-centric, with around-the-clock access to broker expertise.' Mr Titman said the election of Mr Trump has sparked surging interest in crypto. 'There has been a 180-degree shift in the US since the Trump administration came in last November in terms of crypto,' he said. Trump's pick of Paul Atkins to head the Securities and Exchange Commission (SEC) is expected to end a crypto crackdown introduced under President Biden. 'High net worth individuals are always sensitive to the regulatory environment and they don't want to be investing money in an asset class that has got some level of government risk,' he said. 'A lot of that political risk was taken out when the Trump administration was elected.' Caleb & Brown, which has more than $2bn of digital assets under custody, was founded by Rupert Hackett and Dr Prash Puspanathan in 2016. It is led by partner Jackson Zeng and employs 64 team members across Australia and the US. Mr Titman said a typical US client had generally made their fortune in traditional industries, such as property or medicine, but wanted exposure to crypto. 'They are understanding that Bitcoin that's gone up 1200 per cent over the last five years and is the fastest growing and a highest asset growth of all time and it is something that they want to participate in,' he said. 'Previously they might have invested in an office building, in equities, maybe some bonds, maybe some Forex currency trading. They have millions of dollars of free investable cash and that's the customer base that we now have access to.' Swyftx, founded in a Brisbane bedroom in 2017 by young entrepreneurs Angus Goldman and Alex Harper, will employ just under 300 team members on completion of the deal. It is now one of the region's largest digital asset brokerages with more than 1.2 million customers. Mr Titman's career, which has spanned accountancy, hotel development and e-commerce, said Swyftx was moving beyond its start-up roots into the corporate big league or what he termed from 'hoodies to suits'. Mr Titman said he expected to see a collection of cryptocurrencies, known as stable coins, eventually replacing traditional cash for investment and trading. He said Swyftx was looking at several other acquisitions. 'There is a larger plan coming together here for Swyftx. Part of it's organic, part of it's partnerships and part of it's mergers and acquisitions,' he said. 'This is our second transaction after Easy Crypto and it is about getting a different customer base. It also fast tracks our move into the US, which I've been interested in doing for some time.' Read related topics: Donald Trump Glen Norris Senior Business Reporter Glen Norris has worked in London, Hong Kong and Tokyo with stints on The Asian Wall Street Journal, Bloomberg and South China Morning Post. Economics The message from business to Anthony Albanese's challenge is not to overcomplicate the process, but there has to be a real appetite for change. Business Business leaders have demanded Anthony Albanese delivers a broad reform package at August's roundtable. 'Of course the PM should be worried … Why would we want to be the 15th or the 16th or the 17th of anything?' asked Paul Schroder.
The Advertiser
25 minutes ago
- The Advertiser
Israeli kills 15 in Gaza as Trump waits for Hamas reply
At least 15 Palestinians have been killed in an Israeli air strike in Gaza, according to local health officials, as US President Donald Trump says he expects Hamas to respond to his "final proposal" for a ceasefire in Gaza in the next 24 hours. Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an air strike on a tent encampment west of the city early on Friday, killing 15 Palestinians displaced by nearly two years of war. The Israeli military had no immediate comment. Later on Friday, Palestinians gathered to perform funeral prayers before burying those killed overnight. "The ceasefire will come, and I have lost my brother? There should have been a ceasefire long ago before I lost my brother," said 13-year-old Mayar Al Farr as she wept. Her brother, Mahmoud, was among those killed. Trump earlier said it would probably be known in 24 hours whether Hamas has accepted a ceasefire between the Palestinian militant group and Israel. On Tuesday, the president announced that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties would work towards ending the war. Hamas, which has previously declared it would only agree to a deal for a permanent end to the war, has said it was studying the proposal, but given no public indication whether it would accept or reject it. Israeli Prime Minister Benjamin Netanyahu is yet to comment on Trump's ceasefire announcement. While some members of his right-wing coalition oppose a deal, others have indicated their support. Netanyahu has repeatedly said Hamas must be disarmed, a position the militant group has refused to discuss. In Tel Aviv, families and friends of hostages held in Gaza were among demonstrators who gathered outside a US embassy building on US Independence Day, calling on Trump to secure a deal for all of the captives. Demonstrators set up a symbolic Shabbat dinner table, placing 50 empty chairs to represent those who are still held in Gaza. Banners hung nearby displaying a post by Trump from his Truth Social platform that read, "MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!" The Sabbath, or Shabbat, observed from Friday evening to Saturday nightfall, is often marked by Jewish families with a traditional Friday night dinner. The war began when Hamas fighters stormed into Israel on October 7, 2023, killing 1200 people and taking 251 hostages back to Gaza, according to Israeli tallies. Israel's subsequent military assault has killed more than 57,000 Palestinians, according to the Gaza health ministry, while displacing most of the population of more than two million, triggering widespread hunger and leaving much of the territory in ruins. At least 15 Palestinians have been killed in an Israeli air strike in Gaza, according to local health officials, as US President Donald Trump says he expects Hamas to respond to his "final proposal" for a ceasefire in Gaza in the next 24 hours. Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an air strike on a tent encampment west of the city early on Friday, killing 15 Palestinians displaced by nearly two years of war. The Israeli military had no immediate comment. Later on Friday, Palestinians gathered to perform funeral prayers before burying those killed overnight. "The ceasefire will come, and I have lost my brother? There should have been a ceasefire long ago before I lost my brother," said 13-year-old Mayar Al Farr as she wept. Her brother, Mahmoud, was among those killed. Trump earlier said it would probably be known in 24 hours whether Hamas has accepted a ceasefire between the Palestinian militant group and Israel. On Tuesday, the president announced that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties would work towards ending the war. Hamas, which has previously declared it would only agree to a deal for a permanent end to the war, has said it was studying the proposal, but given no public indication whether it would accept or reject it. Israeli Prime Minister Benjamin Netanyahu is yet to comment on Trump's ceasefire announcement. While some members of his right-wing coalition oppose a deal, others have indicated their support. Netanyahu has repeatedly said Hamas must be disarmed, a position the militant group has refused to discuss. In Tel Aviv, families and friends of hostages held in Gaza were among demonstrators who gathered outside a US embassy building on US Independence Day, calling on Trump to secure a deal for all of the captives. Demonstrators set up a symbolic Shabbat dinner table, placing 50 empty chairs to represent those who are still held in Gaza. Banners hung nearby displaying a post by Trump from his Truth Social platform that read, "MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!" The Sabbath, or Shabbat, observed from Friday evening to Saturday nightfall, is often marked by Jewish families with a traditional Friday night dinner. The war began when Hamas fighters stormed into Israel on October 7, 2023, killing 1200 people and taking 251 hostages back to Gaza, according to Israeli tallies. Israel's subsequent military assault has killed more than 57,000 Palestinians, according to the Gaza health ministry, while displacing most of the population of more than two million, triggering widespread hunger and leaving much of the territory in ruins. At least 15 Palestinians have been killed in an Israeli air strike in Gaza, according to local health officials, as US President Donald Trump says he expects Hamas to respond to his "final proposal" for a ceasefire in Gaza in the next 24 hours. Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an air strike on a tent encampment west of the city early on Friday, killing 15 Palestinians displaced by nearly two years of war. The Israeli military had no immediate comment. Later on Friday, Palestinians gathered to perform funeral prayers before burying those killed overnight. "The ceasefire will come, and I have lost my brother? There should have been a ceasefire long ago before I lost my brother," said 13-year-old Mayar Al Farr as she wept. Her brother, Mahmoud, was among those killed. Trump earlier said it would probably be known in 24 hours whether Hamas has accepted a ceasefire between the Palestinian militant group and Israel. On Tuesday, the president announced that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties would work towards ending the war. Hamas, which has previously declared it would only agree to a deal for a permanent end to the war, has said it was studying the proposal, but given no public indication whether it would accept or reject it. Israeli Prime Minister Benjamin Netanyahu is yet to comment on Trump's ceasefire announcement. While some members of his right-wing coalition oppose a deal, others have indicated their support. Netanyahu has repeatedly said Hamas must be disarmed, a position the militant group has refused to discuss. In Tel Aviv, families and friends of hostages held in Gaza were among demonstrators who gathered outside a US embassy building on US Independence Day, calling on Trump to secure a deal for all of the captives. Demonstrators set up a symbolic Shabbat dinner table, placing 50 empty chairs to represent those who are still held in Gaza. Banners hung nearby displaying a post by Trump from his Truth Social platform that read, "MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!" The Sabbath, or Shabbat, observed from Friday evening to Saturday nightfall, is often marked by Jewish families with a traditional Friday night dinner. The war began when Hamas fighters stormed into Israel on October 7, 2023, killing 1200 people and taking 251 hostages back to Gaza, according to Israeli tallies. Israel's subsequent military assault has killed more than 57,000 Palestinians, according to the Gaza health ministry, while displacing most of the population of more than two million, triggering widespread hunger and leaving much of the territory in ruins. At least 15 Palestinians have been killed in an Israeli air strike in Gaza, according to local health officials, as US President Donald Trump says he expects Hamas to respond to his "final proposal" for a ceasefire in Gaza in the next 24 hours. Health officials at the Nasser Hospital in Khan Younis, southern Gaza, said the Israeli military had carried out an air strike on a tent encampment west of the city early on Friday, killing 15 Palestinians displaced by nearly two years of war. The Israeli military had no immediate comment. Later on Friday, Palestinians gathered to perform funeral prayers before burying those killed overnight. "The ceasefire will come, and I have lost my brother? There should have been a ceasefire long ago before I lost my brother," said 13-year-old Mayar Al Farr as she wept. Her brother, Mahmoud, was among those killed. Trump earlier said it would probably be known in 24 hours whether Hamas has accepted a ceasefire between the Palestinian militant group and Israel. On Tuesday, the president announced that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties would work towards ending the war. Hamas, which has previously declared it would only agree to a deal for a permanent end to the war, has said it was studying the proposal, but given no public indication whether it would accept or reject it. Israeli Prime Minister Benjamin Netanyahu is yet to comment on Trump's ceasefire announcement. While some members of his right-wing coalition oppose a deal, others have indicated their support. Netanyahu has repeatedly said Hamas must be disarmed, a position the militant group has refused to discuss. In Tel Aviv, families and friends of hostages held in Gaza were among demonstrators who gathered outside a US embassy building on US Independence Day, calling on Trump to secure a deal for all of the captives. Demonstrators set up a symbolic Shabbat dinner table, placing 50 empty chairs to represent those who are still held in Gaza. Banners hung nearby displaying a post by Trump from his Truth Social platform that read, "MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!" The Sabbath, or Shabbat, observed from Friday evening to Saturday nightfall, is often marked by Jewish families with a traditional Friday night dinner. The war began when Hamas fighters stormed into Israel on October 7, 2023, killing 1200 people and taking 251 hostages back to Gaza, according to Israeli tallies. Israel's subsequent military assault has killed more than 57,000 Palestinians, according to the Gaza health ministry, while displacing most of the population of more than two million, triggering widespread hunger and leaving much of the territory in ruins.
Herald Sun
an hour ago
- Herald Sun
Donald Trump says White House will host UFC fight for America250
US President Donald Trump stunningly announced that there would be a UFC fight with up to 25,000 spectators at the White House next year to celebrate America's upcoming 250th birthday. Mr Trump, 79, is a close friend of Dana White, the CEO of UFC, aka the Ultimate Fighting Championship, and attended a fight last month in Newark. 'Every one of our national parks, battlefields and historic sites are going to have special events in honor of 'America250' and I even think we're going to have a UFC fight,' he said in a speech at the Iowa State Fairgrounds. 'Does anybody watch UFC? The great Dana White? We're going to have a UFC fight. We're going to have a UFC fight — think of this — on the grounds of the White House. We have a lot of land there. 'We're going to build a little — we're not, Dana is going to do it. Dana is great, one of a kind — going to be UFC fight, championship fight, full fight, like 20,000 to 25,000 people, and we're going to do that as part of '250' also. 'We're going to have some incredible events, some professional events, some amateur events. But the UFC fight is going to be a big deal, too.' This story was originally published on The New York Post. FOLLOW UPDATES BELOW: TRUMP WINS MAJOR VICTORY AS FLAGSHIP BILL PASSES CONGRESS US President Donald Trump on Thursday secured a major political victory when Congress narrowly passed his flagship tax and spending bill, cementing his radical second-term agenda and boosting funds for his anti-immigration drive. The bill underlined the president's dominance over the Republican Party, which had been wracked by misgivings over a text that will balloon the national debt and gut health and welfare support. A small group of opponents in the party finally fell into line after Speaker Mike Johnson worked through the night to corral dissenters in the House of Representatives behind the 'One Big Beautiful Bill.' The bill squeezed past a final vote 218-214, meaning it can be on Trump's desk to be signed into law on the July 4th Independence Day holiday. 'One of the most consequential Bills ever. The USA is the 'HOTTEST' Country in the World, by far!!!' Trump said on social media as he scented victory. The timing of the vote slipped back as Democratic minority leader Hakeem Jeffries spoke against the bill for nearly nine hours to delay proceedings. The legislative win is the latest in a series of successes for Mr Trump, including a Supreme Court ruling last week that curbed lone judges from blocking his policies, and US air strikes that led to a ceasefire between Israel and Iran. His sprawling mega-bill just passed the Senate on Tuesday and had to return to the lower chamber for a rubber stamp of the senators' revisions. The package honours many of President Trump's campaign promises: boosting military spending, funding a mass migrant deportation drive and committing $4.5 trillion to extend his first-term tax relief. 'Today we are laying a key cornerstone of America's new Golden Age,' Johnston said. But it is expected to pile an extra $3.4 trillion over a decade onto the country's fast-growing deficits, while shrinking the federal food assistance program and forcing through the largest cuts to the Medicaid health insurance scheme for low-income Americans since its 1960s launch. Some estimates put the total number of recipients set to lose their insurance coverage under the bill at 17 million. Scores of rural hospitals are expected to close. While Republican moderates in the House fear the cuts will damage their prospects of re-election, fiscal hawks chafed over savings that they say fall far short of what was promised. Johnson had to negotiate tight margins, and could only lose a handful of politicians in the final vote, among more than two dozen who had earlier declared themselves open to rejecting Mr Trump's 869-page text. Mr Trump has spent weeks hitting the phones and hosting White House meetings to cajole politicians torn between angering welfare recipients at home and incurring the president's wrath. Democrats hope public opposition to the bill will help them flip the House in the 2026 midterm election, pointing to data showing that it represents a huge redistribution of wealth from the poorest Americans to the richest. Mr Jeffries held the floor for his Democrats ahead of the final vote, as he told stories of everyday Americans who he argued would be harmed by Mr Trump's legislation. 'This bill, this one big, ugly bill - this reckless Republican budget, this disgusting abomination - is not about improving the quality of life of the American people,' he said. Extra spending on the military and border security will be paid in part through ending clean energy and electric vehicle subsidies - a factor triggering a bitter public feud between President Trump and former supporter Elon Musk. TRUMP GEARS UP TO CELEBRATE 250 YEARS OF US INDEPENDENCE US President Donald Trump visits the midwestern state of Iowa on Thursday to kick off a year-long celebration of America's 250th birthday - and tout his own second-term presidency. The Republican will deliver a campaign-style speech followed by fireworks, hot on the heels of what he hopes will be Congress passing his 'big, beautiful' tax and spending bill. It also comes the day before Independence Day on July 4, and has been sold by Mr Trump as the start of celebrations to mark two and a half centuries since the foundation of the United States. But as with a huge military parade in Washington for the US army's 250th birthday last month, it reflects Mr Trump's growing tendency to use the semiquincentennial festivities to boost his own image. 'I am thrilled to announce that I will be travelling to one of my favourite places in the World, beautiful Iowa … to kick off the very beginning of our exciting Celebration of America's 250th Anniversary!' Mr Trump said on Truth Social earlier this week. 'Iowa voted for me THREE TIMES, because they love my Policies for our Wonderful Farmers and Small Businesses, and they LOVE AMERICA!' President Trump, 79, also said he would also be talking about how his trade policies affect farmers, a key demographic in Iowa and one of the voter groups that helped propel him to a second term in the White House. He is set to say that his hard line tariff negotiations with countries around the world, which have caused jitters on the markets, will benefit working class Americans. The America 250 committee, which is organising the events over the next year, said the 'Salute to America' event at the Iowa State Fairgrounds would also feature 'patriotic entertainment and fireworks.' Iowa is well known as one of the first stops for primary campaigns in US presidential elections. Mr Trump won the state by 13 points in 2024. He also easily took it in 2016 when he won the presidency for the first time - and in 2020 when he lost the White House to Democrat Joe Biden. Mr Trump earlier this week dropped a federal lawsuit over an Iowa poll that wrongly forecast he would lose the state in November's election against Democratic nominee Kamala Harris. The president had sued renowned pollster Ann Selzer, her former employer the Des Moines Register, and the newspaper's parent company, Gannett, over a poll that showed him trailing Ms Harris by three points. The rally in a place famed for its role in US presidential elections will also throw the focus on who might succeed Mr Trump as Republican candidate in 2028. His second son Eric said last week that he and other relatives may run for public office, fuelling speculation of a Trump dynasty. Mr Trump meanwhile has repeatedly teased trying for a third term, despite it being barred by the US constitution. CANADA-US TRADE DROPS TO LOWEST ON RECORD Canada's trade with its neighbour to the south withered in May in the wake of a punishing tariff war launched by US President Donald Trump, the national statistical agency said Thursday. However Canada made up part of the shortfall with increased shipments to other nations. As exports to the United States fell for a fourth consecutive month, shipments to other nations rose to 'a record high,' said Statistics Canada. As a result, Canada's share of exports destined to the United States fell from a monthly average of 75.9 per cent to 68.3 per cent. The agency said this was 'one of the lowest proportions on record.' Imports from the United States were also down for a third consecutive month, it said. As a result, Canada's trade surplus with the United States widened slightly to Can$3.2 billion (US$2.4 billion). Prime Minister Mark Carney's liberal government and the Trump administration are in intense negotiations to try to reach a deal that would avert escalating tariffs. Mr Trump has imposed steep levies on imports of autos as well as steel and aluminium - two metals that Canada has historically shipped in large quantities to the United States. The North American auto sector is also highly integrated. Carney set a July 21 deadline for a new trade agreement. Without one, he said he would adjust Canada's 25 per cent counter tariffs on US steel and aluminium - in response to a recent doubling of US levies on the metals to 50 per cent. The month of May saw a 1.1 per cent increase in total Canadian exports, led by a jump in gold shipments to the United Kingdom. Canada also shipped more oil to Singapore, aluminium and pharmaceuticals to Italy, and pork to Japan. This rise was partially offset by lower exports of canola and oil to China. Total imports, meanwhile, fell 1.6 per cent as inbound shipments of motor vehicles and parts continued to fall. As a result, Canada's trade deficit with the world narrowed from a record $CAD7.6 billion in April to $CAD5.9 billion in May. - with AFP
