CoStar sizes up Jason Pellegrino for return as Domain chief executive
Former Domain chief executive Jason Pellegrino is a leading contender to run the real estate listings platform once it is acquired by American property giant CoStar, returning him to a position he left seven months ago.
Domain is controlled by Nine Entertainment but has struggled for years against its larger rival, News Corp-backed REA Group. Pellegrino, a former Google executive, ran the business for many of those years and had a tense relationship with senior Nine figures including the then-chief executive, Mike Sneesby, and former chairman Peter Costello.
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West Australian
an hour ago
- West Australian
In China, The Great American burger is now made with Australian beef
At his restaurant in Beijing, Geng Xiaoyun used to offer a special dish of salt-baked chicken feet — or 'phoenix talons' as they are called in China — imported from America. With prices climbing 30 per cent from March due to tariffs, the owner of Kunyuan restaurant had to pull the Chinese delicacy from the menu. 'American chicken feet are so beautiful,' Xiaoyun said. 'They're spongy so they taste great. Chinese [chicken] feet just aren't as good.' Geng can now source chicken feet from Brazil or Russia but said they just don't stand up to the American ones. He keeps a small stash for himself but hopes to serve his American phoenix talons once again. 'The price of American chicken feet will come back down,' Xiaoyun said, 'as long as there are no big changes in the world's political situation.' But the 90-day tariff pause agreed by China and the US in Geneva in May is now under threat as both sides have accused each other of breaching the terms. On Monday, the Chinese Commerce Ministry responded to President Donald Trump's claim that the country 'totally violated its agreement'. The ministry pointed at recent US artificial intelligence chip export controls as actions that 'severely undermine' the Geneva pact. As the world waits and watches, American agricultural products have been vanishing from Chinese stores and restaurants and losing ground to other imports. US Department of Agriculture grade beef has been a draw for years at Home Plate, a Beijing restaurant known locally for its American-style barbecue. However, staff said the restaurant stopped serving American beef last month. Dishes like The Great American burger are made with beef imported from Australia. Australian beef has zero duty under the terms of the China-Australia Free Trade Agreement, though China does maintain the right to a safeguard limit on those imports. Liu Li, a beef supplier at the Sanyuanli market for three decades, said the tariffs have disrupted supply, hiking the price of US beef by 50 per cent compared to before the tariff fight. 'US beef is fattier and tastier,' Li said. 'It's a shame we're in a trade war. The high price is just too much to bear.' CNBC
Sky News AU
2 hours ago
- Sky News AU
Strategic expert blasts Anthony Albanese's 'bizarre' attack on defence spending report as Australia faces a 'crisis situation'
Strategic Analysis Australia Director Peter Jennings has blasted Prime Minister Anthony Albanese after he lashed out at the Australian Strategic Policy Institute (ASPI) and refused to meet the United States halfway on defence spending. Sky News' Sunday Agenda reported Mr Albanese would not accept the US request and would stand by Labor's existing policy of increasing defence funding. Under the government's projections, defence spending is forecast to reach 2.33 per cent of GDP by 2033–34, up from about 2.05 per cent in 2025-26. The Prime Minister launched a verbal attack on ASPI last week after it published a report criticising the government's funding trajectory. 'Seriously, they need to, I think, have a look at themselves as well and the way that they conduct themselves in debates,' Mr Albanese told ABC Radio. 'We've had a Defence Strategic Review. We've got considerable additional investment going into defence – $10 billion." Mr Jennings - who worked at ASPI for years - said Mr Albanese's comments were 'bizarre' and not reflective of someone who wanted to present himself as an 'elder statesman in Australian politics'. 'You know, Anthony Albanese, he shouldn't be so glass-jawed,' he said. 'What ASPI was saying in that report is pretty much the mainstream view of that small group of people which actually looks at defence and security, which is that we are significantly underfunded.' Mr Jennings said the current defence force was being 'cannibalised' to pay for future submarines, which he said would not materialise for 10 to 15 years. The strategic expert said Australia was facing a 'crisis situation' which was acknowledged by 'almost everyone that looks at defence'. 'Even those people that don't like the American alliance say that we need to be spending more on defence,' he said. 'So for the Prime Minister to be so sort of mean in the way he picked out ASPI I thought was bizarre.' Mr Jennings claimed it was one of China's demands of Australia to have think tanks 'shut down' that are critical of them. 'Why is the Prime Minister giving this gift to the Chinese?' he said. 'You know, he really needs to be more broad-shouldered and actually look at the content of that ASPI report, which was pretty good.' Mr Jennings argued the government had made 'virtually minimal change' to the 2016 Defence White Paper projections, which outline the strategic plan for the ADF over the following decade. The SAA director said the plan no longer fits the strategic circumstances Australia now faces with the conflict in Europe and the Middle East, and the 'much greater risk of conflict' in the Asia-Pacific region. Mr Jennings said Australia had been 'riding the coattails' of American security for the past 20 to 30 years and had now been warned by US Secretary of Defence Pete Hegseth to increase defence spending. 'I'm sad that Australian governments haven't seen their own way to concluding that we need to spend more on defence. But the call from Pete Hegseth is timely,' he told Sky News host Peta Credlin. "We really should be paying attention to it.' Speaking at the Shangri-La Dialogue in Singapore last week, Mr Hegseth warned the threat of China was real and potentially imminent as he pushed allies in the Indo-Pacific to spend more on their own defence needs. Mr Hegseth echoed the Trump administration's motto of maintaining 'peace through strength' and stressed the importance of restoring the 'warrior ethos'. Mr Jennings told Sky News that Mr Hegseth's plea was a 'warning from our closest ally to say we've got to get our act in order'. The strategy expert told Credlin that China's President Xi Jinping was not going to 'die wondering' about Taiwan and insisted he would make his move by the end of the decade. '(Defence Minister) Richard Marles at Shangri-La kept talking about a lack of transparency in Chinese planning. That's simply not true. Xi has been telling the military to be ready for war in 2027,' he said. 'He says it repeatedly when he gives speeches. Of course, they'd rather take over Taiwan peacefully, but I think they are more than prepared to do it militarily if they feel they have to. And something in the second half of this decade is going to happen.' Former chief of army Peter Leahy said the Prime Minister's hesitation to up defence spending was an 'abrogation of the primary responsibility' of government. 'The almost total lack of consideration of defence matters during the recent election campaign and the current focus on a far-off distant, enormously expensive force demonstrates how willing our politicians are prepared to tolerate risk,' General Leahy told The Australian. 'This is an abrogation of the primary responsibility of our elected representatives to provide for the defence and security of the nation and the safety of our servicemen and women. 'Those who wear Australia's uniform place great trust in those who task and equip them. This trust is not being honoured.' Shadow defence minister Angus Taylor said Australia must commit to increasing defence spending to at least 3 per cent, adding that Labor 'must find ways to finance it'. Mr Taylor said he worked closely with Andrew Hastie, James Paterson and Jane Hume on the Coalition's commitment to increase defence spending to 2.5 per cent of GDP within five years and 3 per cent withing a decade. 'The first duty of any government is to protect its citizens. Labor is failing to match this serious duty with funding and action. It needs to catch up or risk jeopardising Australia's safety,' Mr Taylor wrote in The Australian on Tuesday. 'We must move from rhetoric to readiness… We can't afford another decade of 'on-hold' projects. Every delay widens the gap between what Australia needs and what the ADF can actually deliver. 'Defence must be delivered, not just promised.'
The Advertiser
17 hours ago
- The Advertiser
Call for local steel mandate in face of Trump's tariffs
Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally.
