First pics of multimillion-dollar Syd overhaul
A new luxury precinct is set to open in Sydney in 2026, and the first glimpse shows off just how incredible the overhaul of the historic building will be.
The foyer of Capella Sydney.
Stunning views can be seen from one of the hotel suites.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
3 hours ago
- ABC News
Tariffs a sideshow to greater US problem: economist
Samantha Donovan: Well up until the last couple of weeks, the financial markets have swung wildly after Donald Trump's every utterance on tariffs. Recent reaction to the President's trade policy shifts has been more muted though. Australian Justin Wolfers is a Professor of Economics and Public Policy at the University of Michigan. He told our business correspondent David Taylor, tariffs are now a sideshow to a much greater concern for the international community. Justin Wolfers: The Constitution gives the power over tariffs to Congress, not the White House. Now over the years, Congress has given some of that power, handed it off to the White House, but only in a very limited and constrained way. So a simple reading of the rules would say the President can't do this. So in order to have across the board tariffs or what he calls reciprocal tariffs on every country in the world, he's had to call it a national emergency and invoke the Emergency Powers Act, which is interesting, first of all, because that act says nothing about tariffs. And secondly, there's no emergency. The so-called emergencies, the US has trade deficits with many countries. Bilateral trade deficits are not themselves a problem. So it's been in the works that this was going to get knocked down and it finally hit court last night. The court said this is quite clearly unconstitutional. It was a three judge panel, an Obama judge, a Reagan judge, and a Trump judge. So it seems like a pretty clear decision. So that all seemed pretty clear until the US federal government, the Trump administration, filed an appeal with the Court of Appeals. The Court of Appeals unsurprisingly agreed to hear the case. And while it's waiting to get its work done, so while they're reading the documents and so on, it decided to stay, that is to say reinstate the Trump tariffs. All of this is going to be on a pretty expedited schedule. So within a couple of weeks, they're going to come back with their decision. If, as I expect, they find this to be unconstitutional, then the tariffs will be back off again. Then we'll be off to the Supreme Court. We'll see the same drama play out one more time. And then what happens after that is what's really interesting. Because this is saying you can't have across the board tariffs, but recall Congress delegates certain tariff powers to the White House. And it turns out there's a lot of other statutory authorities that they could use. They're a little narrower. And so for instance, that's why the tariffs on steel and aluminium and cars are going to persist because they did not come through this overreach. And it would be easy to get further tariffs on semiconductors and pharmaceuticals and so on. So my guess is the White House lawyers are just going to find other ways of creating international trade havoc. David Taylor: That kind of goes to my next question though, Justin Wolfers, based on your understanding of recent history and Donald Trump, what is, and I know this is a very complicated and difficult question to answer, but where is Donald, where would you think that Donald Trump's mind is at? What do you think his next move is likely to be? Justin Wolfers: His lawyers will be telling him as of this afternoon, Mr. President, the statutory authority we were using will come under question. But if you want to push ahead with tariffs, I've got lots of other ways that you can do it. My guess based on past history is he'll say that's terrific. Let's keep going. David Taylor: Given that, and given how much you know that financial markets can't stand uncertainty, the market reaction, the financial markets reaction over the past 24 hours, I would describe as being quite muted compared to... Justin Wolfers: I agree. David Taylor: Yeah, why? Why? Justin Wolfers: Yeah, I've given this a lot of thought. So the S&P 500 rose one and a half percent when this was announced. That's quite muted given that the day that Trump... So, and this announced all of these tariffs are illegal and they're off. Compare that to seven days after Liberation Day when Trump announced a 90-day pause on the tariffs that led US stocks to rise by about 9%, like six times more for a pause as opposed to it's unconstitutional and you can't do it. So a few thoughts here. One is perhaps this is markets betting that this is going to be overturned at a later point. Another possibility is markets, even if markets don't think it's going to be overturned, and I don't think it's going to be overturned, I think the use of the Emergency Powers Act will be ruled unconstitutional. But even so, Trump has other ways of imposing tariffs. So I suspect that this is markets understanding someone's getting in the way of Trump creating tariffs the way he wants to, but he's probably just going to come back and do it a different way. If you're really interested in this, I'm going to give you one more interpretation. So the markets were incredibly volatile in early April when he announced Liberation Day tariffs, they tanked. When he paused, they soared. They acted like this was a huge thing. Now there's two interpretations of that. One, markets believe that tariffs are so fundamentally important to the profitability of American businesses they have no choice but to rise and fall dramatically every time something happens. If that were true, then you would have thought that the Supreme Court making it unconstitutional should have caused markets to absolutely soar today, and they merely rose a little. So the other possibility is that the original policy announcement was so incoherent, so poorly thought through, so dramatic, so unconstitutional on its face, so absurd, so much overreach in both the economic, political, and legal domains that it signalled an administration that's out of control, and that could do a lot of damage. And so maybe that's what markets were learning in early April. They reacted a little bit to tariffs and a huge amount to learning that this is an economically unhelpful administration. And if that's the case, then all that we learned today, when the courts say Trump wasn't allowed to do tariffs in a particular way, you're only going to see a small reaction because it's still true that the White House is full of lunatics, and that still weighs on people's minds. Samantha Donovan: Professor Justin Wolfers from the University of Michigan. He was speaking with our business correspondent, David Taylor.
Daily Telegraph
3 hours ago
- Daily Telegraph
Kembla preview: Claire Lever's patience pays off with Yes Siree
Don't miss out on the headlines from Horse Racing. Followed categories will be added to My News. As legendary trainer Bart Cummings once said, 'Patience is the cheapest thing on racing and the least used.' Hawkesbury trainer Claire Lever is one person who follows that ideology with her horses and her latest subject is the three-year-old Yes Siree. From his early days the stable, the gelding showed Lever he was blessed with nice ability and even after he won a Hawkesbury barrier trial last November, she put him away knowing he wasn't ready to take the next step. 'He showed nice ability from the time he came into the stable but he was really slow to mature,' said Claire Lever. 'He kept growing and took a long time to come together to where you want him to be. Trainer Claire Lever with her jockey/husband, Chad. Picture: Bradley Photos The Form: Complete NSW Racing thoroughbred form, including video replays and all you need to know about every horse, jockey and trainer. Find a winner here! 'He grew more than we expected and took time to mature. 'I know he trialled well last time around but we just wanted to see him develop a bit more so we tipped him out. 'It wasn't until this preparation that he got to where we could do a bit more with him.' Returning for a late autumn and winter campaign, Yes Siree rewarded Lever and his owners with a debut win at Wyong on May 1. 'He trialled well then went to the races and won his first start,' Lever said. 'It probably wasn't an overly strong form race but it was over an unsuitably short distance for him and he did a few things wrong so he's progressing. 'It nice to have a horse in the stable that will keep improving that has been looked after.' That Wyong win came on a Heavy 10 but it was no surprise he handles the conditions so well being a son of Everest winner and Randwick 1200m track record holder Yes Yes Yes from an O'Reilly mare. Yes Siree is looking to make it two from two when he steps out on the Benchmark 64 Handicap (1200m) at Kembla on another heavy track with Grant Buckley to ride. 'It's a heavy track again but the Yes Yes Yes' have won all well on heavy tracks,' she said. 'The fact he ticked that box off, you can go to the races with that little bit more confidence that the track is not going to worry him too much. 'Down the track, I think 1400m will be is best distance but stepping up to 1200 metres this weekend will be good for him.' Four-year-old gelding Casanova has been a model of consistency in his two campaigns for Lever with a win and two placings in the first and he has a win and two placings so far this time in. He is looking to improve on that when he lines up in the Benchmark 64 Handicap (1600m) with Lever husband, Chad, to ride. The gelding scored a tough win on his home track in March before a rare blip when well back behind Monkhena there a month later. A drop in grade saw him return his usually form with a third behind Exceedingly Hot at Queanbeyan on May 11. 'He is very honest, he puts himself up on speed or thereabouts and just tries really hard,' Lever said. 'His run at Hawkesbury was out of character but he pulled up okay. 'He bounced back with a better effort last start although it was at Queanbeyan in weaker grade. 'Back to provincial grade, on a nice track and down in weight, I think he will run well again. 'His form on wet tracks in good so I'm going to Kembla confident he will handle the conditions.'
SBS Australia
3 hours ago
- SBS Australia
Let's eat kombu: Stress-free meals with dried ingredients
Independent news and stories connecting you to life in Australia and Japanese-speaking Australians. Ease into the English language and Australian culture. We make learning English convenient, fun and practical.
