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ASIC looks to regulate growing Australian private credit

ASIC looks to regulate growing Australian private credit

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‘Atrocious': Football world reacts to Tottenham's Ange Postecoglou decision
‘Atrocious': Football world reacts to Tottenham's Ange Postecoglou decision

News.com.au

time19 hours ago

  • News.com.au

‘Atrocious': Football world reacts to Tottenham's Ange Postecoglou decision

Season three will not be happening. Ange Postecoglou was sacked as Tottenham manager overnight Friday, just 16 days after the Australian ended the club's 17-year trophy drought by winning the Europa League. Postecoglou led Tottenham to a 1-0 victory over Manchester United in Bilbao to clinch the north Londoners' first European prize in 41 years and secure a place in next season's Champions League. But the Australian paid the price for Tottenham's worst domestic season since they were relegated from the top flight in 1976-77. 'Following a review of performances and after significant reflection, the Club can announce that Ange Postecoglou has been relieved of his duties,' a statement on Tottenham's official X account said. Exactly two years after he was hired from Celtic, Postecoglou's eventful spell in north London was brought to a ruthless end by chairman Daniel Levy. Tottenham lost 22 of their 38 Premier League games to finish 17th in the table, above only relegated trio Leicester, Ipswich and Southampton. 'The Board has unanimously concluded that it is in the best interests of the club for a change to take place,' the statement said. 'While winning the Europa League this season ranks as one of the club's greatest moments, we cannot base our decision on emotions aligned to this triumph. 'It is crucial that we are able to compete on multiple fronts and believe a change of approach will give us the strongest chance for the coming season and beyond. 'This has been one of the toughest decisions we have had to make and is not a decision that we have taken lightly, nor one we have rushed to conclude. 'We have made what we believe is the right decision to give us the best chance of success going forward, not the easy decision.' Postecoglou had forcefully defended his track record during the season and bristled at the constant questions over his future after his trophy success. He clashed with Tottenham fans during a defeat at Chelsea when he cupped his ear to them in a defiant gesture after a goal that was eventually disallowed. That blunder encapsulated his turbulent time in north London, but the 59-year-old bowed out gracefully. Postecoglou releases statement 'When I reflect on my time as Manager of Tottenham Hotspur my overriding emotion is one of pride,' Postecoglou said. 'The opportunity to lead one of England's historic football clubs and bring back the glory it deserves will live with me for a lifetime. Sharing that experience with all those who truly love this club and seeing the impact it had on them is something I will never forget. 'That night in Bilbao was the culmination of two years of hard work, dedication and unwavering belief in a dream. There were many challenges to overcome and plenty of noise that comes with trying to accomplish what many said was not possible. 'We have also laid foundations that mean this club should not have to wait 17 more years for their next success. I have enormous faith in this group of players and know there is much more potential and growth in them.' Tottenham were ravaged by injuries and in the latter stages of the campaign Postecoglou focused on keeping his key players fit and fresh for the Europa League. The gamble paid off but even securing Tottenham's first trophy since the 2008 League Cup was not enough to save him. He becomes the fifth manager sacked by Levy in the past six years. Brentford boss Thomas Frank, Fulham manager Marco Silva, Crystal Palace chief Oliver Glasner and Bournemouth's Andoni Iraola are reportedly the leading candidates to replace Postecoglou. Postecoglou made a blistering start to his Tottenham career, earning rave reviews for his 'Angeball' style of attacking play. However, a string of defeats at the end of the season blew a golden opportunity to qualify for the Champions League. In September 2024, Postecoglou boldly stated that he 'always wins things' in his second year. He delivered on that pledge but even the euphoria from the Europa League win could not save him from the axe. Football world reacts: 'They were atrocious' Postecoglou had largely retained the support of his players and Tottenham defender Pedro Porro saluted his efforts. 'Thank you for everything, boss. I'll always be grateful for the way you led us, defended us, and kept us going through all the highs and lows,' Porro said. 'Above everything, you gave us one of the greatest moments in the club's history and for that, you'll always be celebrated.' Newcastle legend Alan Shearer tweeted 'what a stupid game football is!!!!' in response to the news. Former England striker Chris Sutton added to the BBC: 'To get someone in who wins them silverware, then straightaway get rid of him, that sums up modern football, doesn't it? It's absolute bonkers. 'I would love to know the thought process behind the decision to get rid of him. Basically it is saying the finance of the Premier League is the be all and end all, is it? So finishing fourth or fifth in the Premier League and not winning a trophy is what matters - it is like they are morphing into Arsenal under Arsene Wenger at the end, if that's what is important. 'But money over glory sums up the owner, Daniel Levy, doesn't it? 'Nothing surprises me in football anymore, so Ange Postecoglou is better off out of it really - and maybe they can go back to being mediocre old Tottenham again now.' Former Tottenham manager Harry Redknapp said he wasn't surprised Levy had stuck the knife in again. 'I thought it was a certainty, doesn't shock me at all,' Redknapp told talkSPORT. 'Daniel has had two weeks after the cup final to come out and stop the speculation, from day one after they won that cup he never came out and said a word. 'I knew then for sure he was finished, so it's not a shock in any shape or form to me.' 'It's harsh, it's a difficult one,' he added. 'They were atrocious this season, let's be honest. The league form, fourth from bottom, they had a shocker, they won the cup, sometimes you get a bit of luck with the draw. 'But overall I suppose Daniel has looked at it and is thinking, hang on, Man United kept [Erik] Ten Hag last year after winning a cup and they went out and bought some players under his leadership and then suddenly they sack him. 'Were they going to take that chance with Ange? Bringing four or five new players and suddenly things haven't improved in the league by Christmas, then they have to sack him and are stuck with the players he brought in. 'He looks a good guy and I'd have liked to have seen him given more of a chance but it was never going to happen once Daniel didn't come out and support him.' England manager Thomas Tuchel also discussed the decision. 'It just shows you that it is not only about titles, you can survive seasons without titles if your connection, the support and the belief and the trust between the coach and the club is strong then you can overcome seasons without titles,' Tuchel said. 'If there is slight disbelief, if there are concerns, if the trust is not there anymore, obviously then it is sometimes not even enough to win a trophy after so many years. 'I have biggest respect for him. He's a huge character, he brought a trophy, he said he will deliver in the second year and he did. 'But this is part of the job, we are responsible for the results and we are responsible for the development of the team so, whether we like it or not, sometimes it is us who has to take the full responsibility.'

World Gold Council working to lure artisanal miners across globe away from ‘illicit actors'
World Gold Council working to lure artisanal miners across globe away from ‘illicit actors'

West Australian

time20 hours ago

  • West Australian

World Gold Council working to lure artisanal miners across globe away from ‘illicit actors'

The World Gold Council estimates up to 20 per cent of the world's supply of the precious metal is produced by 'artisanal' miners whose activities are vulnerable to exploitation from 'illicit actors' such as terrorists and mercenary organisations like the notorious Wagner Group. During his visit to Kalgoorlie-Boulder this week, the council's chief strategy officer Terry Heymann said the London-headquartered organisation wanted to bring these small-scale miners into the formal gold supply chain and make them less likely to work with 'informal and illicit markets'. Artisanal and small-scale mining involves individuals usually working by themselves and mainly by hand or with some mechanical or industrial tools. 'This is very different from the large-scale professional mines . . . (it's) not really happening in Australia, it's much more of an issue in other parts of the world, but it's an issue that we care about deeply and we're doing a lot of work in how to support responsible artisanal and small-scale gold mining,' Mr Heymann said. 'A number of my colleagues this week are in Ghana, where the Ashanti King is actually convening a conference to address this issue, which is how do we support access to the formal markets for small-scale and artisanal gold mining? 'Why is that important? 'Because if they don't have access to the formal markets, they go to the informal and illicit markets. 'And that's a real challenge for the gold industry, one that we're actively involved in and doing a lot of work on.' Mr Heymann said a report it held in partnership with former British deputy prime minister Dominic Raab highlighted the dangerous nature of these 'illicit actors'. '(Mr Raab's) findings, unfortunately, are really stark . . . without access to the formal market, these illicit, informal and sometimes illegal miners are forced to work with illicit actors, and that then gets into supplying gold funding for terrorist groups, mercenaries, with the Wagner Group as an example.' The Wagner Group is a Russian-based private military company which has been involved in conflicts across the globe, including the current war in Ukraine. Notoriously, in June 2023 the group's then-leader Yevgeny Prigozhin launched an 'armed mutiny' against the Russian military — but it ended before the Wagner Group's planned march on Moscow. Mr Prigozhin died in a plane crash in Russia in August 2023. Mr Heymann said the issue was extremely important for the whole gold sector. 'It's a different part of the gold sector to where most of the people investing in gold are going to be getting their gold from,' he said. '(And) it's not something the industry can do by itself, and this is why we are calling on governments around the world, particularly those involved in the G20, who can really group together and make a difference on this to take action, to be part of this coalition of the willing to actually drive change. 'My boss, the CEO of the World Gold Council, was meeting with the secretary-general of the Organisation for Economic Co-operation and Development last week, who is Australian — Mattias Cormann — and he pledged OECD support to us. 'The OECD has been hugely involved in this, and I think it's that level of support we need — of the OECD, of national governments in Australia, in the US and Canada, big mining nations using their ability and their leverage to bring together different groups of people who can really address this issue.'

Media boss Greg Hywood looks back on cuts, mergers and stoushes
Media boss Greg Hywood looks back on cuts, mergers and stoushes

ABC News

timea day ago

  • ABC News

Media boss Greg Hywood looks back on cuts, mergers and stoushes

This week, Viv and Tim speak to Greg Hywood in the week he's announced his retirement from his role as Independent Chair at Free TV Australia. The former Fairfax CEO and newspaper editor has been in journalism and publishing since the 1970s when he started at the Australian Financial Review. He presided over period of intense cost cutting at Fairfax in the early 2010s and was CEO as the merger with NINE was put in place. He shares his views on whether that merger has worked and the state of publishing and commercial media in 2025. In another blow to music television, Foxtel has announced that MTV Hits, Nick Music, MTV Club, MTV 80s, and CMT music channels will stop playing at the end of June. TikTok has announced it is launching safety and wellness features including guided meditation sessions and George Clooney is bringing Broadway to America and the world's living rooms in a live streaming event of Good Night and Good Luck. Guest: Greg Hywood, Retiring Independent Chair of Free TV, former CEO of Fairfax and Editor and Publisher at the Australian Financial Review, Sydney Morning Herald and The Age.

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