Latest news with #Morrison
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First Post
an hour ago
- Business
- First Post
Ex-Australian PM Scott Morrison to testify before US House panel on China after Albanese's Beijing visit
Former Australian Prime Minister Scott Morrison will be testifying at the US House panel next week at a hearing about countering China's 'economic coercion against Democracies' read more The former Prime Minister of Australia, Scott Morrison, will be testifying at the US House panel next week at a hearing about countering China's 'economic coercion against Democracies'. The committee confirmed the news on Friday and mentioned that Rahm Emanuel, the former US ambassador to Japan, will also testify before the committee on China. Relations between China and Australia have been rocky after Canberra banned Huawei from its 5G broadband network in 2018. However, things went further downhill in 2020 after the Morrison government called for an independent investigation into the origins of the COVID-19 virus. STORY CONTINUES BELOW THIS AD In response to this, China imposed high tariffs on Australian commodities, including wine and barley. They also imposed heavy duties on limited imports of Australian beef, coal and grapes, moves described by the United States as 'economic coercion'. Things changed after Morrison exited the office Eventually, the former Australian premier lost the re-election bid in 2022, paving the way for the country's current Prime Minister, Anthony Albanese. After the Labour government came to power in the country, there have been signs of warming ties between the two nations. It is pertinent to note that Albanese spent this week touring China with stops in Beijing, Shanghai and Chengdu. The Australian premier's visit is also coming amid a period of geopolitical instability and escalating trade hostilities between the US and its trading partners. While responding to his critics, who questioned Albanese's six-day visit to China, the Australian PM pointed out that the former coalition government failed to hold a single phone call with the country's largest trading partner for years. This week, Reuters reported that Canberra is closing in on an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China. Sources close to the matter said that the deal would end a year-long freeze in the trade, given how China has imposed 100 per cent tariffs on Canadian canola meal and oil this year amid strained diplomatic ties. American envoy Emanuel, who told a Chicago news outlet last month he is considering a run for president in 2028, has been a harsh critic of China. Last year, he said that Beijing has been constantly using coercion and pressure on other nations like Japan and the Philippines. 'Economic coercion by China is their most persistent and pernicious tool in their toolbox,' Emanuel said in a separate speech in 2023. Meanwhile, the Chinese embassy in Washington is yet to comment on the matter. STORY CONTINUES BELOW THIS AD With inputs from Reuters.
Hypebeast
2 days ago
- Business
- Hypebeast
Wooden Cutlery Just Got an Upgrade, Courtesy of Jasper Morrison
Purveyor of the pared-back Jasper Morrison has brought his minimalist eye to a set of cutlery crafted from Japanese cherry wood. Designed for the French silverware brand Puiforcat, the 'Jersey' collection comprises a fork, knife, spoon, serving cutlery, and a pair of chopsticks. Each piece has been glazed with an ultra-fine coat of Japanese lacquer, which highlights the textures and patterns of the wood's grain. 'This method allows the embellished wood to breathe while protecting the pieces with a fine yet solid antibacterial film,' the brand adds. The design of the set is stripped back and humble, with Morrison wanting the material to be the focus of attention. It is typical of his so-called 'Super Normal' approach, which he described as being a reaction to the fact that the design world had 'forgotten its roots and the basic notion that we designers are supposed to take care of the man-made environment and try to improve it'. 'Super Normal is a bridge between the two worlds, an attempt to reunite them,' hecontinues. The use of wood marks a departure for the collections of the luxury brand, which was founded in 1820 by Emile and Joseph-Marie Puiforcat. The initial idea behind the collection was to develop something that would accompany a set of serving pieces designed by Donald Judd, named 'Dinner Service'. Jersey is available to purchase now, with buying information available via the Puiforcat website.
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Gold Futures Inch Higher But Rally Loses Steam
1524 GMT – Gold futures rise, though they are on track to end the week slightly lower. Futures are up 0.4% at $3,359.40 a troy ounce, but are 0.1% lower on week. Gold's impressive year-to-date rally seems to be increasingly running out of steam, Commerzbank CBK -0.67%decrease; red down pointing triangle analysts say in a note. Though the U.S. dollar weakened to its lowest level against the euro in four years at the beginning of July, the precious metal traded broadly sideways, analysts write. Sharp increases in the prices of silver, platinum and other precious metals over the same time period indicate traders see little further upside in gold and are looking for alternatives, Commerzbank says. After gold's price increase of nearly 27% year to date, mostly in the first few months of 2025, this is hardly surprising, analysts say. ( 1044 GMT – Gold futures rise, though they remain stuck in narrow range as the market awaits fresh catalysts. Futures are up 0.4% at $3,358.30 a troy ounce, though they remain down 0.2% on week. The precious metal has been broadly rangebound in recent months, with technical trading indicators neutral and offering no clues as to the short-term direction, Trade Nation's David Morrison says in a note. A recovery in the U.S. dollar this month appears to be capping any potential gains for gold for now, Morrison writes. Gold could experience downside pressure if the dollar were to spike higher, a possibility due to large short positions on the currency, Morrison says. A stronger dollar challenges gold's safe-haven characteristics and makes dollar-denominated assets more expensive for international purchasers to buy. (
The Age
2 days ago
- Business
- The Age
Albanese's China challenge: balancing trade and values
Prime Minister Anthony Albanese is back in Australia after a week in China. Did he come home with more than he had when he left? Yes and no. Albanese can say he met Chinese President Xi Jinping for two hours of talks, had a banquet lunch, magnificent dinners (Paul Kelly and Powderfinger songs!) and basically mended the rift from the Scott Morrison years. The two leaders were warm in their comments towards each country. Albanese can take this as an embrace, giving rise to a feeling as warm and fuzzy as watching a panda frolic in the sun. Albanese's week was an act of diplomacy that was necessary to Australia's economic wellbeing. According to the Department of Foreign Affairs and Trade, China is Australia's largest two-way trading partner. Trade with China in 2023-24 accounted for 26 per cent of our goods and services trade with the world. Two-way trade with China totalled $325 billion, of which goods and services exports were $212.7 billion. Iron ore exports to China last year alone were worth $US79.6 billion ($121 billion). The seeming harmony of the past week is a far cry from the years of Morrison's government, when China placed trade bans worth about $20 billion on exports over what it saw as Australia's hostility towards it, partly due to Morrison's view on the origins of COVID-19, though this was never the stated reason. The sanctions have since been lifted. The thawing of this latest Cold War between Australia and China should be seen as but one front on the bilateral battlefield. While it is true, as French historian Montesquieu wrote 300 years ago, that 'peace is a natural effect of trade', it is not the only factor. In dealing with China, a set of scales is always on the table. On one side is the money and trade-derived wealth, on the other is the very nature of the regime, that is, its authoritarianism, its geopolitical ambitions, its treatment of its people and minority groups within its borders, including its suppression of human rights and dissent.
The National
2 days ago
- Sport
- The National
Recently departed Celtic keeper joins ambitious SPFL side
The 21-year-old spent 12 years at Parkhead. Although Morrison never made a senior competitive appearance for his boyhood club, he was included in several Champions League matchday squads the season before last. His time at Celtic ended in May after a brief loan spell at Stenhousemuir, and he has now found a new club. Read more: Indeed, Morrison has penned a one-year deal with ambitious Scottish League Two side East Kilbride. They were promoted to the SPFL pyramid last season after winning the Lowland League and successfully navigating the play-offs. Managed by Mick Kennedy, former Celtic academy player Si Ferry is the assistant boss. They recently defeated Championship outfit Raith Rovers 4-2 in a surprise victory in the League Cup group stage. Morrison will look to feature when they take on Elgin City in the same competition this weekend. After departing Celtic in May, Morrison took to Instagram. He said: "After twelve years, today was my last day at Celtic. "Thanks to everyone who has been a part of my journey and made it so special. I will never forget it."
