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News.com.au
an hour ago
- Health
- News.com.au
Drug claims overshadow Musk's Oval Office farewell
Elon Musk faced accusations Friday that he used so much ketamine on the 2024 campaign trail that he developed bladder problems, as the billionaire prepared to give a farewell press conference with Donald Trump. A New York Times report that Musk's drug use had caused concerns was published just hours before he was to appear with Trump in the White House on his last day as the US government's cost cutter-in-chief. The newspaper said the world's richest man also took ecstasy and mushrooms and traveled with a pill box last year, adding that it was not known whether Musk also took drugs while heading the so-called Department of Government Efficiency (DOGE). The South African-born tech tycoon, the biggest donor to Trump's 2024 election campaign, told people that ketamine, an anesthetic that can cause dissociation, had affected his bladder, the NYT added, noting that it was a known effect of long-term use. Space X and Tesla boss Musk did not immediately comment, but the White House played down the report. Asked if he was concerned about alleged drug use by Musk, Trump's Deputy Chief of Staff Stephen Miller told reporters: "The drugs that we're concerned about are the drugs running across the southern border." Trump's administration has pledged to crack down on migration and the flow of the opiate fentanyl from Mexico. Miller separately told CNN when asked if Musk had been drug tested while working for the White House: "You'll have the opportunity to ask Elon all the questions you want today yourself." Musk has previously admitted to taking ketamine, saying he was prescribed it to treat a "negative frame of mind" and suggesting his use of drugs benefited his work. - 'Terrific' - The latest claims will add to the challenge of putting a positive spin on Musk's departure after just four turbulent months. Trump has announced a joint press conference in the Oval Office at 1.30 pm (1730 GMT). The president praised the "terrific" Musk on Thursday and insisted that his influence would continue despite him returning to his companies. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump said on his Truth Social network. But the news conference will be a far cry from Musk's first appearance in the Oval Office in February, when he brought his young son with him and outshone even the attention-seeking president himself. At the time the 53-year-old was almost inseparable from Trump, glued to his side on Air Force One, Marine One, in the White House and at Trump's Mar-a-Lago resort in Florida. Yet Musk is now leaving Trump's administration under a cloud, after admitting disillusionment with his role and criticizing the Republican president's spending plans. - 'Disappointed' - The right-wing magnate's DOGE led an ideologically-driven rampage through the federal government, with its young "tech bros" slashing tens of thousands of jobs. It has also shuttered whole departments including the US Agency for International Development (USAID), leading to huge cuts in foreign aid that critics say will hit some of the world's poorest people and help US rivals. But DOGE's achievements fell far short of Musk's boasts when he blazed into Washington brandishing a chainsaw at a conservative event and bragged that it would be easy to cut two trillion dollars. In reality, the independent "Doge Tracker" site has counted just $12 billion in savings while the Atlantic magazine put it far lower, at $2 billion. Musk's "move fast and break things" mantra was also at odds with some of his cabinet colleagues, and he said earlier this week that he was "disappointed" in Trump's planned mega tax and spending bill as it undermined DOGE's cuts. Musk's companies, meanwhile, have suffered. Tesla shareholders called for him to return to work as sales slumped and protests targeted the electric vehicle maker, while Space X had a series of fiery rocket failures.
News.com.au
2 hours ago
- Business
- News.com.au
Taylor Swift drops major announcement in heartfelt note to fans: ‘Bursting into tears'
Taylor Swift has bought back her masters. The singer, 35, announced the news Friday with a lengthy message on her official website. 'I'm trying to gather my thoughts into something coherent, but right now my mind is just a slideshow,' she began her note, which was formatted like a handwritten letter, reports Page Six. 'A flashback sequence of all the time I daydreamed about, wished for, and pined away for a chance to get to tell this news. All the times I was thiiiiiiiiiiis close, reaching out for it, only for it to fall through. 'I almost stopped thinking it could ever happen, after 20 years of having the carrot dangled and then yanked away. But that's all in the past now. I've been bursting into tears of joy at random intervals ever since I found that this is really happening. I really get to say those words. 'All of the music I've ever made … now belong … to me.' Swift went on to detail that her entire catalogue — which consists of her music videos, concert films, the album art and photographer, the unreleased songs, plus 'the memories, the magic, the madness, every single era, [her] entire life's work' — belongs to her. The Lover songstress went on to explain that her music was so important to her and to her fans that she 'meticulously re-recorded and released' four of her albums, which she called 'Taylor's Version.' 'The passionate support you showed those albums and the success story you turned The Eras Tour into is why I was able to buy back my music,' she noted. 'I can't thank you enough for helping to reunite me with this art that I have dedicated my life to, but have never owned until now.' She went on to thank Shamrock Capital for 'being the first people' to offer her the chance to buy back her masters. 'They really saw it for what it was to me: My memories and my sweat and my handwriting and my decades of dreams,' she said before joking that her first tattoo might be a 'huge shamrock in the middle of my forehead.' The Grammy award winner then addressed Swifties' incessant theories that she would soon announce Reputation (Taylor's Version), admitting, 'I haven't even re-recorded a quarter of it.' She explained that she couldn't seem to get her creative juices flowing because the album was 'so specific to that time in my life,' because she longed 'to be understood while feeling purposely misunderstood.' 'To be perfectly honest, it's the me album in those first 6 that I thought couldn't be improved upon by redoing it […] so I kept putting it off.' However, she promised that fans would get to listen to the unreleased vault tracks when the time is right and if fans 'are into the idea.' On the other hand, she confessed to having re-recorded her debut album, Taylor Swift, and she 'really [loves] how it sounds now.' 'Those 2 albums can still have their moments to re-emerge when the time is right, if that would be something you guys would be excited about. But if it happens, it won't be from a place of sadness and longing for what I wish I could have. It will just be a celebration now.' Swift also addressed how other celebrities have been inspired to 'negotiate to own their master recordings in their record contract.' 'Because of this flight, I'm reminded of how important it was for all of this to happen,' she said before thanking her fellow singers for making the conversation into a 'broad discussion.' 'You'll never know how much it means to me that you cared. Every single bit of it counted and ended us up here.' An 'elated and amazed' Swift concluded her emotional letter by quoting her song Mine, 'The best things that have ever been mine … finally actually are.' The songwriter also broke her social media silence to celebrate the win by sharing photos of her sitting with her first original six albums — Taylor Swift, Fearless, Speak Now, Red, 1989 and Reputation — fanned around her. 'You belong with me,' she captioned the post, quoting her famous 2008 song.
News.com.au
2 hours ago
- Health
- News.com.au
Abortion pill inventor Etienne-Emile Baulieu dies aged 98
French scientist Etienne-Emile Baulieu, known as the inventor of the abortion pill, died at the age of 98 at his home in Paris on Friday, his wife told AFP. The doctor and researcher, who achieved worldwide renown for his work that led to the pill, had an eventful life that included fighting in the French resistance and becoming friends with artists such as Andy Warhol. "His research was guided by his commitment to the progress made possible by science, his dedication to women's freedom, and his desire to enable everyone to live better, longer lives," Baulieu's wife Simone Harari Baulieu said in a statement. Baulieu's most well-known discovery helped create the oral drug RU-486, also known as mifepristone, which provided a safe and inexpensive alternative to surgical abortion to millions of women across the world. His work meant he also faced fierce criticism and sometimes threats from opponents of abortion. After Wyoming became the first US state to outlaw the use of the abortion pill in 2023, Baulieu told AFP it was "scandalous". Baulieu said he had dedicated a large part of his life to "increasing the freedom of women," and the ban was a step in the opposite direction. - 'Fascinated by artists' - Born on December 12, 1926 in Strasbourg to Jewish parents, Etienne Blum was raised by his feminist mother after his father, a doctor, died. He changed his name to Emile Baulieu when he joined the French resistance against Nazi occupation at the age of 15, then later adding Etienne. After the war, he became a self-described "doctor who does science," specialising in the field of steroid hormones. Invited to work in the United States, Baulieu was noticed in 1961 by Gregory Pincus, known as the father of the contraceptive pill, who convinced him to focus on sex hormones. Back in France, Baulieu designed a way to block the effect of the hormone progesterone, which is essential for the egg to implant in the uterus after fertilisation. This led to the development of mifepristone in 1982. In the 1960s, the literature fan had become friends with artists such as Andy Warhol. He said he was "fascinated by artists who claim to have access to the human soul, something that will forever remain beyond the reach of scientists." - Alzheimer's, depression research - Baulieu kept going into Parisian office into his mid-90s. "I would be bored if I did not work anymore," he said in 2023. His recent research has included trying to find a way to prevent the development of Alzheimer's disease, as well as a treatment for severe depression, for which clinical trials are currently underway across the world. French President Emmanuel Macron presented Baulieu with the Grand-Croix de la Legion d'Honneur in 2023, the top rank in France's honours system. "You, a Jew and a resistance fighter, you were overwhelmed with the most atrocious insults and even compared to Nazi scientists," Macron said. "But you held on, for the love of freedom and science." In the United States, Baulieu was also awarded the prestigious Lasker prize in 1989. The widower of Yolande Compagnon, Baulieu married Simone Harari in 2016. He leaves behind three children, eight grandchildren and nine great-grandchildren, according to the statement released by his family.
News.com.au
3 hours ago
- Business
- News.com.au
The real crisis isn't tariffs, it's Treasuries
One of the world's most important markets is flashing warning signs – and it's not the one President Trump is talking about. While headlines remain fixated on the president's trade agenda, markets have quietly shifted their attention to something far more consequential: the threat of a yield crisis in the US Treasury market as the government's borrowing needs spin further out of control. Yes, the legal fight over tariffs continues. This week brought a dramatic two-step in the courts. First, the US Court of International Trade dealt a blow to the administration's use of emergency powers, ruling that the president cannot impose sweeping tariffs on nearly every major trading partner under the International Emergency Economic Powers Act (IEEPA). But then came a reprieve, a temporary stay from a federal appeals court, allowing parts of Trump's tariff regime to stand while the legal battle plays out. The White House celebrated the appeals court order as vindication of its strategy and vowed to continue its fight. In political terms, it was a win. In market terms, it barely registered. This muted reaction isn't apathy, it's clarity. Investors have already priced in the likelihood that future tariffs will be watered down, delayed, or challenged in court. The volatility that once accompanied every tariff threat has faded. The 'TACO' theory – Trump Always Chickens Out – has become the baseline assumption. However, that doesn't mean markets are calm. Far from it. Their attention has pivoted, urgently, to the growing disorder in US fiscal policy. America's debt has soared past $34 trillion, with no serious plans to rein it in. Treasury auctions are showing signs of strain. Bid-to-cover ratios are slipping. Foreign buyers are pulling back. And yields are rising, not because inflation is accelerating, but because supply is overwhelming demand. This is the kind of stress that can't be brushed off with a press conference. It doesn't respond to spin or delay. And it can't be fixed by executive order. The Treasury market underpins the global financial system. When investors start to demand higher returns just to absorb the scale of US borrowing, it ripples through every asset class. Mortgage costs climb, corporate credit tightens, equity valuations come under pressure, emerging markets see capital flight, and liquidity drains. The effect is broader and more destabilizing than any tariff ever was. This isn't just about rates ticking up. It's about trust. If investors begin to question the US government's ability, or willingness, to stabilize its finances, yields will not rise gently. They will lurch higher. And the fallout could be severe. The timing makes this risk especially acute. With the administration's trade tools now constrained by legal rulings, the temptation to shift toward large-scale fiscal stimulus ahead of the 2026 midterms is real. This would mean even more borrowing, even more issuance, and even more pressure on bond buyers already flashing caution. We've entered a dangerous feedback loop. More debt issuance drives higher yields. Higher yields raise borrowing costs. Higher costs deepen deficits. And the cycle accelerates. Yes, the US enjoys privileges no other borrower does. It issues the world's reserve currency. It sits at the centre of global capital markets. But those structural advantages are not infinite. They rely on confidence and credibility. Yet those are slowly being eroded. The bond market isn't a political adversary that can be discredited. It is the final word in global pricing power. Right now, it's issuing a warning. We must stop treating tariffs as the primary economic risk. The legal developments this week, while significant, are a distraction from what truly matters. A trade war can be paused. A yield crisis, once underway, is far harder to contain. The danger is no longer a customs skirmish, it's a serious bond revolt. The focus has shifted from tariffs to Treasuries. If yields break significantly higher, it won't just be a US problem. It will be a global reckoning. The views, information, or opinions expressed in the interviews in this article are solely those of the author and do not represent the views of Stockhead. Stockhead does not provide, endorse or otherwise assume responsibility for any financial advice contained in this article.
News.com.au
4 hours ago
- Business
- News.com.au
Trent Alexander-Arnold to join Real Madrid from Liverpool before Club World Cup
Liverpool have agreed a deal for Trent Alexander-Arnold to join Real Madrid on June 1. The new Premier League champions confirmed a deal had been reached for him to join Real prior to the expiry of his Liverpool contract on June 30, and Real said this would enable the England international to play for the Spanish side at this summer's Club World Cup. The Reds confirmed a fee had been paid to secure the 26-year-old's services at the start of June rather than from July 1, with Real announcing Alexander-Arnold had agreed a six-year contract.
