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Treasurer Jim Chalmers says ensuring young Australians can access housing is 'driving deliberations' on possible tax changes ahead of the May 12 budget. Reports suggest a rollback of the capital gains tax discount and changes to negative gearing may be considered, though Chalmers has not confirmed specifics.
Ahead of a planned meeting between Presidents Trump and Xi, the US is escalating pressure on China with new export controls on advanced semiconductors. Commerce Secretary Howard Lutnick defended the administration's approach, while critics question enforcement. China, meanwhile, appears to be adapting to earlier restrictions.
Analysts say the UAE’s planned exit from OPEC and OPEC+ will structurally benefit oil-importing Asian economies in the long term, though the Strait of Hormuz closure may delay price relief. The UAE cites strategic and geopolitical motives for the move, effective May 1, 2026.
Asahiyama Zoo in northern Japan has postponed its seasonal reopening as police investigate an employee who told them he burned his wife's body in the zoo's animal incinerator. The zoo, which serves over a million visitors annually, had closed on April 8 and was due to reopen Wednesday for Golden Week, but will remain closed until at least Friday. The mayor called the situation an 'unprecedented crisis.'
Japan Airlines will trial humanoid robots at Tokyo's Haneda Airport from May in a two-year pilot to ease ground handling workloads, including luggage and cargo operations. The move addresses a labour crunch driven by rising tourism and a shrinking working-age population, with human staff keeping responsibility for safety oversight.
Foreign Minister Penny Wong has begun a diplomatic tour of Japan, China, and South Korea to secure Australia's fuel and energy supply chains amid the Middle East conflict and closure of the Strait of Hormuz. The trip comes as Australia seeks guarantees from Asian refiners while managing concerns from Japan about a proposed gas tax and domestic political debates over welcome to country ceremonies.
South Korea's Seoul High Court increased the corruption sentence for former first lady Kim Keon Hee to four years in prison, finding her guilty of stock manipulation and accepting luxury gifts. Her husband, former President Yoon Suk Yeol, remains jailed on other convictions. The court's presiding judge was later found dead, with police investigating the circumstances.
As Palantir expands its footprint in UK public services, from the NHS to police AI tools, a wave of public petitions and political scrutiny emerges. Concerns over civil liberties, data privacy, and outsourcing public services to a company with ties to ICE and the Israeli military prompt calls for greater oversight and transparency.
The Coalition has proposed an $800 million plan to double Australia's minimum fuel reserves to 60 days, while the government prepares a $10 billion fuel security package ahead of the federal budget. The proposals come as the closure of the Strait of Hormuz exposes Australia's vulnerability to global oil supply shocks.
The Michael Jackson biopic 'Michael' has shattered box office records with a $217 million worldwide opening, surpassing 'Bohemian Rhapsody' and 'Oppenheimer'. Despite mixed reviews from critics, audiences have embraced the film, which grossed $97 million domestically. The film's success underscores the enduring appeal of music biopics and sets a new benchmark for the genre.
Global military spending rose to a record $2.88 trillion in 2025, marking the 11th consecutive year of increase, according to SIPRI. Europe and Asia saw sharp spending hikes, while US spending fell by 7.5% due to a halt in new Ukraine aid. Analysts warn of an arms race and trade-offs with social spending.
New analysis by the Health Foundation shows healthy life expectancy in the UK has fallen by two years over the past decade, bucking the trend in other rich nations. Experts warn of rising obesity, mental ill health, and chronic conditions as contributing factors, and call for bold public health policies.
A preliminary magnitude 6.1 earthquake struck northern Japan early Monday, with the US Geological Survey reporting the epicenter 18 kilometers west of Sarabetsu in Hokkaido. The Japan Meteorological Agency revised the magnitude to 6.2 and said no tsunami alert was issued. The quake comes amid ongoing wildfires in the region.
Australia has signed a landmark US$7 billion contract with Japan for 11 Mogami-class frigates, a deal that could set a template for Tokyo's expanding defence exports. Analysts see the agreement as a step towards reducing regional reliance on the US and building a new network of defence partnerships across the Indo-Pacific.
A gunman opened fire at the White House Correspondents' Association dinner in Washington, D.C., prompting Secret Service agents to evacuate President Trump and others. The suspect, 31-year-old Cole Tomas Allen, was taken into custody. Leaders from around the world condemned the attack and expressed relief that the president and first lady were unharmed.
Wildfires in Japan's Iwate region have burned for a fifth day, threatening the coastal town of Otsuchi and forcing thousands to evacuate. Authorities have deployed firefighters and Self-Defense Force helicopters, with dry, windy conditions complicating efforts.
The US Treasury has sanctioned Hengli Petrochemical's Dalian refinery and dozens of ships tied to Iran's 'shadow fleet' as part of 'Operation Economic Fury.' Treasury Secretary Scott Bessent pressed China to increase diplomatic pressure on Iran, while the administration also asked banks to monitor for Iranian money-laundering networks.
G7 environment ministers meeting in Paris have deliberately excluded climate change from their agenda, a move widely seen as accommodating the United States. The decision, confirmed by France's ecology minister, prioritizes G7 unity while focusing on ocean conservation, biodiversity funding, and desertification. The meeting comes ahead of a global conference on phasing out fossil fuels, drawing criticism from activists who fear weakened collective action.
Former Australian Treasury Secretary Ken Henry has renewed his push for a windfall profits tax on gas exports, urging the government to ignore industry opposition. The proposal has sparked debate over revenue capture, investment risks, and international buyer concerns, with the government reportedly considering the measure ahead of the federal budget.
Woodside's CFO told a Greens-led Senate inquiry that a proposed 25% tax on gas exports would be economically unsustainable, while Chevron's Gorgon project received environmental approval for expansion. The inquiry is probing Australia's gas export tax settings amid growing pressure on Labor to impose the tax.