Concerns on what impact the 'Big, Beautiful Bill' will have on ‘deficits and spending'
"Last night the Big, Beautiful Bill … passed through the House of Representatives for the second time," Mr Piotrowski told Sky News Australia.
"At the margins, there are concerns still on what impact that will have on deficits and spending."
Presented by CommSec.
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Sydney Morning Herald
28 minutes ago
- Sydney Morning Herald
Trump's $942 million windfall reshapes his fortune
On the surface, Donald Trump's personal net worth looks remarkably unchanged since retaking the White House: $US6.5 billion ($9.9 billion) on election day, $US6.4 billion now. But digging deeper into the figures reveals an unprecedented and unmistakable shift in how he and his family are buttressing their empire — and how much more quickly they stand to potentially profit from their fame, influence and power. Whether it's putting their brand on real estate projects or attaching it to perfumes and mattresses, licensing deals have long been used by the Trump family to make money fast compared with the years of planning and execution needed in real estate development. But with crypto, the Trumps can turbocharge the monetisation of their name. Combined with loosened constraints on foreign dealmaking in the second Trump administration, it has been a bonanza. Crypto ventures have added at least $US620 million ($942 million) to Donald Trump's fortune in the span of months, according to the Bloomberg Billionaires Index, which is valuing his family's earnings from projects like World Liberty Financial and the Trump memecoin for the first time. The money made from an expanding line-up of virtual tokens and obscure companies deriving their value largely from their association with the president and his MAGA movement dwarfs the more than $US34 million the Trump Organisation reported taking in from real estate licensing deals last year. 'I am incredibly proud of our wonderful company,' said Eric Trump, executive vice president of the Trump Organisation. 'We have never been stronger.' Loading While the president's assets are in a trust administered by Donald Trump Jr, he continues to personally benefit from the success of the Trump Organisation, and Bloomberg's wealth index rolls up the family's various interests to the patriarch. For now, many private ventures that Trump's children are engaged in haven't been included because the details of their financial interests couldn't be determined, including the private club Executive Branch in Washington, Japanese hotel company-turned-Bitcoin stockpiler Metaplanet, radio and podcasting outfit Salem Media, prediction-market startup Kalshi and online drug retailer BlinkRX. For as much as Trump and his children are wading into crypto — Eric and Don Jr have spoken, sometimes independently and sometimes together, at events in Abu Dhabi, Washington, Dubai and Las Vegas since December alone — one of the biggest boosts to his personal fortune has been a project close to home that was years in the making.
ABC News
32 minutes ago
- ABC News
Does diplomacy stand a chance?
From the volatile fault lines of the Middle East, a dangerous new chapter has unfolded as the confrontation between Israel and Iran up-ends the region's delicate balance. The big question is whether the US will enter the fray to assist their ally Israel. Donald Trump has set a two-week deadline on that crucial decision, will he risk dividing his MAGA base? And will he heed the history of US foreign entanglements? The world waits with baited breath to find out. Guest: Farnaz Fassihi, New York Times United Nations bureau chief and Iran specialist Recommendations: Geraldine: 'Will the U.S join Israel's war with Iran', The Daily podcast from the New York Times Nick: The Friday Afternoon Club: A Family Memoir by Griffin Dunne Plus: Our bonus interview with Dr Afshon Ostovar on the question of regime change in Iran Get in touch: We'd love to hear from you! Email us at
The Advertiser
an hour ago
- The Advertiser
Dozens more dead as Hamas seeks ceasefire guarantees
Hamas is seeking guarantees that a new US-backed ceasefire proposal for Gaza would lead to the war's end, as Israeli strikes across the territory kill scores more people. Israeli officials on Thursday said prospects for reaching a ceasefire and hostage deal appeared high, nearly 21 months since the war between Israel and Hamas began. Efforts for a Gaza truce gathered steam after the US secured a ceasefire to end a 12-day aerial conflict between Israel and Iran, but on the ground in Gaza intensified Israeli strikes continued unabated, killing at least 59 people on Thursday, according to health authorities in the territory. On Tuesday, US President Donald Trump said that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties will work to end the war. Hamas is seeking clear guarantees that the ceasefire will eventually lead to the war's end, the source close to the group said. Two Israeli officials said those details were still being worked out. In a statement early on Friday, Hamas said it was discussing the ceasefire proposal with other Palestinian factions and would submit its response to mediators once those talks conclude. Egyptian and Qatari mediators have been working to secure US and international guarantees that talks on ending the war would continue as a way of convincing Hamas to accept a two-month truce proposal, Egyptian security sources said. A senior Israeli official close to Prime Minister Benjamin Netanyahu said preparations were in place to approve a ceasefire deal. A separate source familiar with the matter said that Israel was expecting Hamas' response by Friday and that if it was positive, an Israeli delegation would join indirect talks to cement the deal. The proposal includes the staggered release of 10 living Israeli hostages and the return of the bodies of 18 more in exchange for Palestinian prisoners held in Israeli jails, an official familiar with the negotiations said on Thursday. Of the 50 remaining hostages in Gaza, 20 are believed to still be alive. Aid would enter Gaza immediately, and the Israeli military would carry out a phased withdrawal from parts of the enclave, according to the proposal. Negotiations would immediately start on a permanent ceasefire. In Gaza, there was no sign of immediate relief on Thursday. According to medics at Nasser Hospital, at least 20 people were killed by Israeli fire en route to an aid distribution site. Farther north, at least 17 people were killed in an Israeli strike at a school in Gaza City, according to medics. The Israeli military said it targeted a key Hamas gunman operating there and that it took precautions to reduce risk to civilians. "Suddenly, we found the tent collapsing over us and a fire burning. We don't know what happened," one witness, Wafaa Al-Arqan, who was among the people sheltering there, told Reuters. "What can we do? Is it fair that all these children burned?" 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. Israel says it won't end the war while Hamas is still armed and ruling Gaza. Hamas, severely weakened, says it won't lay down its weapons but is willing to release all the hostages still in Gaza if Israel ends the war. Hamas is seeking guarantees that a new US-backed ceasefire proposal for Gaza would lead to the war's end, as Israeli strikes across the territory kill scores more people. Israeli officials on Thursday said prospects for reaching a ceasefire and hostage deal appeared high, nearly 21 months since the war between Israel and Hamas began. Efforts for a Gaza truce gathered steam after the US secured a ceasefire to end a 12-day aerial conflict between Israel and Iran, but on the ground in Gaza intensified Israeli strikes continued unabated, killing at least 59 people on Thursday, according to health authorities in the territory. On Tuesday, US President Donald Trump said that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties will work to end the war. Hamas is seeking clear guarantees that the ceasefire will eventually lead to the war's end, the source close to the group said. Two Israeli officials said those details were still being worked out. In a statement early on Friday, Hamas said it was discussing the ceasefire proposal with other Palestinian factions and would submit its response to mediators once those talks conclude. Egyptian and Qatari mediators have been working to secure US and international guarantees that talks on ending the war would continue as a way of convincing Hamas to accept a two-month truce proposal, Egyptian security sources said. A senior Israeli official close to Prime Minister Benjamin Netanyahu said preparations were in place to approve a ceasefire deal. A separate source familiar with the matter said that Israel was expecting Hamas' response by Friday and that if it was positive, an Israeli delegation would join indirect talks to cement the deal. The proposal includes the staggered release of 10 living Israeli hostages and the return of the bodies of 18 more in exchange for Palestinian prisoners held in Israeli jails, an official familiar with the negotiations said on Thursday. Of the 50 remaining hostages in Gaza, 20 are believed to still be alive. Aid would enter Gaza immediately, and the Israeli military would carry out a phased withdrawal from parts of the enclave, according to the proposal. Negotiations would immediately start on a permanent ceasefire. In Gaza, there was no sign of immediate relief on Thursday. According to medics at Nasser Hospital, at least 20 people were killed by Israeli fire en route to an aid distribution site. Farther north, at least 17 people were killed in an Israeli strike at a school in Gaza City, according to medics. The Israeli military said it targeted a key Hamas gunman operating there and that it took precautions to reduce risk to civilians. "Suddenly, we found the tent collapsing over us and a fire burning. We don't know what happened," one witness, Wafaa Al-Arqan, who was among the people sheltering there, told Reuters. "What can we do? Is it fair that all these children burned?" 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. Israel says it won't end the war while Hamas is still armed and ruling Gaza. Hamas, severely weakened, says it won't lay down its weapons but is willing to release all the hostages still in Gaza if Israel ends the war. Hamas is seeking guarantees that a new US-backed ceasefire proposal for Gaza would lead to the war's end, as Israeli strikes across the territory kill scores more people. Israeli officials on Thursday said prospects for reaching a ceasefire and hostage deal appeared high, nearly 21 months since the war between Israel and Hamas began. Efforts for a Gaza truce gathered steam after the US secured a ceasefire to end a 12-day aerial conflict between Israel and Iran, but on the ground in Gaza intensified Israeli strikes continued unabated, killing at least 59 people on Thursday, according to health authorities in the territory. On Tuesday, US President Donald Trump said that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties will work to end the war. Hamas is seeking clear guarantees that the ceasefire will eventually lead to the war's end, the source close to the group said. Two Israeli officials said those details were still being worked out. In a statement early on Friday, Hamas said it was discussing the ceasefire proposal with other Palestinian factions and would submit its response to mediators once those talks conclude. Egyptian and Qatari mediators have been working to secure US and international guarantees that talks on ending the war would continue as a way of convincing Hamas to accept a two-month truce proposal, Egyptian security sources said. A senior Israeli official close to Prime Minister Benjamin Netanyahu said preparations were in place to approve a ceasefire deal. A separate source familiar with the matter said that Israel was expecting Hamas' response by Friday and that if it was positive, an Israeli delegation would join indirect talks to cement the deal. The proposal includes the staggered release of 10 living Israeli hostages and the return of the bodies of 18 more in exchange for Palestinian prisoners held in Israeli jails, an official familiar with the negotiations said on Thursday. Of the 50 remaining hostages in Gaza, 20 are believed to still be alive. Aid would enter Gaza immediately, and the Israeli military would carry out a phased withdrawal from parts of the enclave, according to the proposal. Negotiations would immediately start on a permanent ceasefire. In Gaza, there was no sign of immediate relief on Thursday. According to medics at Nasser Hospital, at least 20 people were killed by Israeli fire en route to an aid distribution site. Farther north, at least 17 people were killed in an Israeli strike at a school in Gaza City, according to medics. The Israeli military said it targeted a key Hamas gunman operating there and that it took precautions to reduce risk to civilians. "Suddenly, we found the tent collapsing over us and a fire burning. We don't know what happened," one witness, Wafaa Al-Arqan, who was among the people sheltering there, told Reuters. "What can we do? Is it fair that all these children burned?" 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. Israel says it won't end the war while Hamas is still armed and ruling Gaza. Hamas, severely weakened, says it won't lay down its weapons but is willing to release all the hostages still in Gaza if Israel ends the war. Hamas is seeking guarantees that a new US-backed ceasefire proposal for Gaza would lead to the war's end, as Israeli strikes across the territory kill scores more people. Israeli officials on Thursday said prospects for reaching a ceasefire and hostage deal appeared high, nearly 21 months since the war between Israel and Hamas began. Efforts for a Gaza truce gathered steam after the US secured a ceasefire to end a 12-day aerial conflict between Israel and Iran, but on the ground in Gaza intensified Israeli strikes continued unabated, killing at least 59 people on Thursday, according to health authorities in the territory. On Tuesday, US President Donald Trump said that Israel had accepted the conditions needed to finalise a 60-day ceasefire with Hamas, during which the parties will work to end the war. Hamas is seeking clear guarantees that the ceasefire will eventually lead to the war's end, the source close to the group said. Two Israeli officials said those details were still being worked out. In a statement early on Friday, Hamas said it was discussing the ceasefire proposal with other Palestinian factions and would submit its response to mediators once those talks conclude. Egyptian and Qatari mediators have been working to secure US and international guarantees that talks on ending the war would continue as a way of convincing Hamas to accept a two-month truce proposal, Egyptian security sources said. A senior Israeli official close to Prime Minister Benjamin Netanyahu said preparations were in place to approve a ceasefire deal. A separate source familiar with the matter said that Israel was expecting Hamas' response by Friday and that if it was positive, an Israeli delegation would join indirect talks to cement the deal. The proposal includes the staggered release of 10 living Israeli hostages and the return of the bodies of 18 more in exchange for Palestinian prisoners held in Israeli jails, an official familiar with the negotiations said on Thursday. Of the 50 remaining hostages in Gaza, 20 are believed to still be alive. Aid would enter Gaza immediately, and the Israeli military would carry out a phased withdrawal from parts of the enclave, according to the proposal. Negotiations would immediately start on a permanent ceasefire. In Gaza, there was no sign of immediate relief on Thursday. According to medics at Nasser Hospital, at least 20 people were killed by Israeli fire en route to an aid distribution site. Farther north, at least 17 people were killed in an Israeli strike at a school in Gaza City, according to medics. The Israeli military said it targeted a key Hamas gunman operating there and that it took precautions to reduce risk to civilians. "Suddenly, we found the tent collapsing over us and a fire burning. We don't know what happened," one witness, Wafaa Al-Arqan, who was among the people sheltering there, told Reuters. "What can we do? Is it fair that all these children burned?" 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. Israel says it won't end the war while Hamas is still armed and ruling Gaza. Hamas, severely weakened, says it won't lay down its weapons but is willing to release all the hostages still in Gaza if Israel ends the war.
