Bernard Keane's Canberra: Albanese dismisses US call to up defence spending
Yesterday at 12:00pm Mon 2 Jun 2025 at 12:00pm Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume. Play
Duration: 15 minutes 59 seconds 15 m
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
2 hours ago
- ABC News
What we know about Trump's newly ordered probe into Biden's alleged use of 'autopen'
US President Donald Trump has ordered his administration to investigate former president Joe Biden's actions, targeting his aides, including an autopen. The order could lay the groundwork for arguments by Republicans that a range of Mr Biden's actions as president were invalid. The president has claimed that Mr Biden's aides concealed his "cognitive decline" and abused presidential authority. What is happening, and why has Trump made such a big deal out of it? Let's break it down. Mr Trump has mandated two investigations through the memorandum he signed on June 4. The investigations aim to assess Mr Biden's capabilities as a president and the executive actions he has signed. The first investigation will examine whether anyone conspired to "deceive the public about Biden's mental state" and "unconstitutionally exercise" his authorities and responsibilities. The second one will probe Mr Biden's executive actions executed during his final years in office, for example, policy documents signed with an autopen and who authorised its use. This January, Mr Biden pardoned his siblings and their spouses in the final minutes of his presidency, saying his family had been "subjected to unrelenting attacks and threats, motivated solely by a desire to hurt me". He also pardoned Anthony Fauci, the former US chief medical adviser and retired General Mark Milley and members of the House committee that investigated the January 6 attack on the Capitol. "Biden's cognitive issues and apparent mental decline during his presidency were even 'worse' in private, and those closest to him 'tried to hide it' from the public," he said. Mr Trump said that the nation was governed through presidential signatures, adding that the president of the US "holds tremendous power and responsibility through his signature". "The vast majority of Biden's executive actions were signed using a mechanical signature pen, often called an autopen, as opposed to Biden's own hand," he claimed. "This was especially true of actions taken during the second half of his presidency, when his cognitive decline had apparently become even more clear to those working most closely with him." The president has questioned whether Mr Biden's aides were usurping presidential authority, as he said he believed his predecessor lacked the capacity to exercise his presidential authority. For decades, US presidents — including Trump — have used autopens, which is a device that mechanically replicates a person's signature, to sign documents and correspondence. Barack Obama was the first president to use one to sign a law in May 2011, when he signed an extension to the Patriot Act. Mr Obama was in France on official business and, with time running out before the law expired, he authorised the use of the autopen. On the same day, House Oversight Chairman James Comer of Kentucky, a Republican, announced he would expand the investigation into the alleged "cover-up of Biden's mental decline". Mr Comer reiterated his call for Mr Biden's physician, Kevin O'Connor, and former senior White House aides Annie Tomasini, Anthony Bernal, Ashley Williams and Neera Tanden to appear for transcribed interviews. "The American people deserve full transparency and the House Oversight Committee is conducting a thorough investigation to provide answers and accountability," the chairman said. He warned subpoenas would be issued this week if they refuse to schedule voluntary interviews. "I think that people will start coming in the next two weeks," Mr Comer told reporters. He added that the committee would release a report with its findings, saying "and we'll release the transcribed interviews, so it'll be very transparent." Here are the roles of Biden's five senior advisers: Attorney General Pam Bondi and White House counsel David Warrington have been ordered to handle the investigation. It's unclear how far Mr Trump will push this effort, which would face certain legal challenges. Democratic Leader Hakeem Jeffries has not released any statements in response to Mr Trump's order. ABC/wires
News.com.au
5 hours ago
- News.com.au
Health Check: Medical device makers Trump drug developers in volatile US healthcare climate
Medical device makers – including ASX-listed heart plays – are the likely winners from the US healthcare chaos Painchek hopes for US device approval by September Mayne Pharma flags legal action over Cosette bid but also waves an olive branch Medical device makers are better placed than drug companies to withstand the volatile US healthcare climate, according to broker Canaccord. In a report, the firm notes that while the US biotech sector has fallen in value over the past 12 months, medtechs have gained ground. The overall measure, the Nasdaq Biotechnology Index, has lost 8% over the past year and 1.25% over the past month. But the benchmark Ishares US Medical Devices ETF (IHI) has gained 10% over the past year and 12% over the past month. The firm says the performance is supported by recent earnings announcements, with 15 of the top 16 stocks reporting higher than expected profits. The firm opines the device makers look a safer bet because they are not caught up in the debate about lower drug prices, following Donald Trump's 'Most Favoured Nation' (MFN) decree (see below). 'Medical device/tech companies also appear to have more clarity regarding how/if tariffs may or may not impact their businesses.' ASX device makers active in the US include the ginormous ResMed (ASX:RMD) and Cochlear (ASX:COH), as well as Telix Pharmaceuticals (ASX:TLX). In April EBR Systems (ASX:EBR) won US approval for its Wise pacemaker, the world's first ventricular assist device. Also in the heart space, the agency approved Echo IQ (ASX:EIQ) aortic stenosis tool, Echo AS. In April 2023 Cardiex (ASX:CDX) won FDA assent for Conneqt Pulse, its vascular biometric heart monitor. This week, the local Therapeutic Goods Administration followed suit. Drug makers 'in the dark' on pricing MFN means US drug prices would be benchmarked against the lowest prevailing price across developed countries. The drug debate originated in the Biden era, with the Inflation Reduction Act (IRA) requiring the Medicare system to negotiate prices for certain high-cost drugs. 'Pharma/biotech companies seem somewhat in the dark regarding proposed MFN policies, but recent discussions have suggested decisions may be set to come through in the next 30 to 60 days,' Canaccord says. 'The push to lower drug prices could be a long-drawn-out legal battle, which may ultimately fail to move beyond the IRA, or contain a number of exemptions and loopholes.' The firm says ASX healthcare stocks 'have not been immune to the chaos' engulfing the US. But US biotech earnings momentum has turned positive. This likely will result in improved share valuations 'which the ASX is likely to follow.' Painchek has nice chat with FDA Still on Trumpian shores, PainChek (ASX:PCK) said it has a 'successful' follow-up meeting with the FDA that sought feedback ahead of its intended US marketing application. Painchek is the world's first mobile-based pain assessment and monitoring device for patients unable to enunciate their discomfort (such as dementia patients). Held on June 3, the second meeting focused on Painchek addressing the FDA's final questions about the company's recent US trial results. 'The meeting was a positive two-way conversation providing feedback and clarity for both parties.' The company hopes to lodge its submission this month, under the new device pathway. Under the FDA's timelines, the company should have an answer by late September. FDA consent would be a company maker for Painchek, which already has a foothold in the local and UK aged-care sectors. Share fever as Clarity trial proves a DISCO hit Shares in radiotherapy play Clarity Pharmaceuticals (ASX:CU6) today bounded up to 11% after the company reported top-line results from its groovily-monikered DISCO trial. The study blew the (strobe) lights out by showing its copper-isotope based candidate to be highly effective in detecting neuroendocrine tumours (NETs) NETs most commonly occur in the gastrointestinal tract, lung and pancreas, but may also originate in other areas including the breast, prostate and skin. The phase II study compared Clarity's 64Cu-Sartate against standard of care imaging. 64 Cu-Sartate 'substantially outperformed' the standard gallium isotope-based therapy, detecting 393 to 488 lesions among 45 participants. Of these lesions, 230-251 were deemed 'discordant', that is, identified on only one of the scans. And guess what? Clarity's method accounted for 93% of them. Clarity initially designed the trial to enrol up to 63 patients. But after early analysis the company was able to reduce the sample size to 45 and thus expedite the study. Clarity is now eyeing FDA assent for a phase III registrational trial. And if you really want to know, DISCO stands for 'Diagnostic Imaging Study of 64COpper-Sartate'. Who would have predicted a 'massive oversubscription'? Predictive diagnostics play Proteomics International Laboratories (ASX:PIQ) says its $7.5 million share purchase plan (SPP) was 'massively oversubscribed' – a rare event for such funding mechanisms. The SPP follows a $4.5 million into raising and a $500,000 board and management whip 'round. The funds were raised at 37 cents a share, a 17% discount, with an attached option on every second share subscribed for. The $12 million will support the company's commercialisation of its three tests. These are for diabetic kidney disease (PromarkerD), Promarker Eso (esophageal cancer) and endometriosis (Promarker Endo). Also today, the company pointed to a write up of its Promarker Eso study in the peer-reviewed tome Proteomes. For the few of us who don't subscribe, the assay detected esophageal carcinomas accurately across 259 serum samples. As we opined last week, its hard to know whether peer-reviewed pronouncements reiterate old announcements, or are 'new news'. In this case, the company says the published stuff 'builds upon and extends' earlier announced study results. Mayne, Mayne won't go away Mayne Pharma (ASX:MYX) is far from conceding that its $600 million takeover has been blown away, despite suitor Cosette terminating the deal on the grounds of 'material adverse events'. The company releasetoday noted the scheme meeting would go ahead on June 18, as scheduled. 'Mayne Pharma directors continue to unanimously recommend that vote in favour of the scheme resolution at the scheme meeting, in the absence of a superior proposal," intoned chairman Frank Condella. There's a big proviso, though: the company needs a court decision to affirm its view that the 'material adverse events' were not, in fact, material. While the company will go legal if needs be, it is open to 'seeking to find a path forward with the scheme that does not involve pursuing litigation'. Mayne shares today edged up around 3%, having plunged 14% yesterday after Cosette's withdrawal.
News.com.au
6 hours ago
- News.com.au
Trump administration ramps up attack on Harvard, Columbia
President Donald Trump ramped up his campaign against top US universities Wednesday, banning visas for all foreign students coming to attend Harvard and threatening to strip Columbia of its academic accreditation. Trump is seeking to bring the universities to heel with claims their international students pose a national security threat, and that they ignored anti-Semitism on campus, and perpetuate liberal bias. A proclamation issued by the White House late Wednesday declared that the entrance of international students to begin a course at Harvard would be "suspended and limited" for six months, and that existing overseas enrollees could have their visas terminated. "Harvard's conduct has rendered it an unsuitable destination for foreign students and researchers," said the order. "I'm trembling. This is outrageous," Karl Molden, a Harvard government and classics student from Austria, told AFP. "He is abusing his executive power to harm Harvard as much as he can." "My god!" said another international student at Harvard, who declined to be named for fear of retribution, on learning of the executive order. "This is such a disgrace." The announcement came after the Trump administration's earlier efforts to terminate Harvard's right to enroll and host foreign students were stalled by a judge. The government already cut around $3.2 billion of federal grants and contracts benefiting Harvard and pledged to exclude the Cambridge, Massachusetts institution from any future federal funding. Harvard has been at the forefront of Trump's campaign against top universities after it defied his calls to submit to oversight of its curriculum, staffing, student recruitment and "viewpoint diversity." Trump has also singled out international students at Harvard, who in the 2024-2025 academic year accounted for 27 percent of total enrollment, and a major source of income. "This is yet another illegal retaliatory step taken by the Administration in violation of Harvard's First Amendment rights," a university spokesman said. "Harvard will continue to protect its international students." The latest sweeping action against Harvard came as Trump's education secretary threatened Wednesday to strip Columbia University of its accreditation. The Republican has targeted the New York Ivy League institution for allegedly ignoring harassment of Jewish students, throwing all of its federal funding into doubt. Unlike Harvard, several top institutions -- including Columbia -- have already bowed to far-reaching demands from the Trump administration, which claims that the educational elite is too left-wing. - 'Combating anti-Semitism' - But Wednesday's official action suggested it was not enough for Trump. "Columbia University looked the other way as Jewish students faced harassment," US Education Secretary Linda McMahon said on X. She accused the school of breaking rules prohibiting recipients of federal funding from discriminating on the basis of race, color, or national origin. "After Hamas' October 7, 2023, terror attack on Israel, Columbia University's leadership acted with deliberate indifference towards the harassment of Jewish students on its campus," McMahon said in a statement. "This is not only immoral, but also unlawful." In the statement, the US Education Department said its civil rights office had contacted Columbia's accreditation body about the alleged violation. Withdrawing Columbia's accreditation would see it lose access to all federal funding -- a very significant proportion of the university's income. Students attending the university would also not be able to receive federal grants and loans towards tuition. Critics accuse the Trump administration of using allegations of anti-Semitism to target educational elites and bring universities to their knees. The administration has already put $400 million of Columbia's funding under review, prompting the university in March to announce a package of concessions to the government around defining anti-Semitism, policing protests and conducting oversight for specific academic departments. Following Wednesday's announcement, a Columbia spokesperson said the university "aware of the concerns" raised by the government with its accreditation body. "We have addressed those concerns directly with Middle States," the spokesperson said, adding that "Columbia is deeply committed to combating anti-Semitism on our campus." "We take this issue seriously and are continuing to work with the federal government to address it."
