Author: Press Room

Tax breaks for electric vehicles will be significantly curtailed in a move expected to save the budget $1.7 billion as Treasurer Jim Chalmers says large cuts across the board will help reduce demand in the economy while inflation is running hot.The tax break has proven vastly more popular than the Government anticipated since it came into affect in mid-2022, meaning the cost to the Budget has blown out from an estimated $90 million a year to $1.4 billion this year.Dr Chalmers and Energy Minister Chris Bowen said there had now been a “dramatic increase” in the availability of affordable EVs…

JAKARTA: The defence ministers of Indonesia and Japan signed a cooperation agreement on Monday (May 4), Jakarta said, underlining the need to safeguard regional peace and stability in the face of global tumult.The signing during Japanese Defence Minister Shinjiro Koizumi’s visit to Indonesia came after Tokyo had eased decades-old arms export rules last month, allowing firms to sell lethal weapons to countries with which Japan has defence agreements.Indonesian defence ministry spokesman Rico Ricardo Sirait told AFP that the agreement was part of efforts to improve defence cooperation between the two countries.The pact covers issues including collaboration in humanitarian assistance and…

Mark Zuckerberg, CEO of Meta, is seen in the U.S. Capitol after a meeting in the office of Senate Majority Leader John Thune, R-S.D., on Thursday, March 26, 2026.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesMeta is back in a New Mexico courthouse on Monday as part of an ongoing child safety case that could determine whether the company is considered a public nuisance and must spend potentially billions of dollars to fix its products.The social media company lost the first round of the trial centering on claims brought by New Mexico Attorney General Raúl Torrez that it failed…

New Delhi, India – Seema Das, a househelp in New Delhi, took on a two-day journey to reach her village in India’s West Bengal state, changing trains to make sure she got home in time to vote in provincial elections.Das had previously always voted for the All India Trinamool Congress (TMC) party under Chief Minister Mamata Banerjee, a centrist political force that has been in power in the eastern Indian state since 2011. But this time, she said, her mother-in-law had convinced her that “Didi” – a nickname for Banerjee, which translates to elder sister in Bangla  – “favours Muslims”.Das,…

Sioux Falls, S.D. — Nine Native American tribes in South Dakota, North Dakota and Nebraska are suing the federal government in a bid to stop exploratory drilling for graphite near a sacred site in the Black Hills.A small group of demonstrators has been protesting at the drilling location and at the mining company’s headquarters since they learned ground was broken on the drilling project in late April. Masked demonstrators sit atop drilling equipment on April 30, 2026, in Pennington County, S.D., with a banner reading Sacred ground not mining bound. Angel White Eyes / AP The tribes filed their federal…

The Ontario Court of Appeal is set to hear Peter Nygard’s appeal of his sexual assault convictions and prison sentence Monday, with his lawyers arguing the Toronto trial judge made errors including admitting the testimony of an expert on trauma. The former fashion mogul was convicted of four counts of sexual assault in 2023 and sentenced to 11 years behind bars after multiple women came forward with allegations dating from the 1980s until the mid-2000s.His prison sentence amounts to a little less than seven years, after credit for the time he already spent in custody before and during trial.Nygard’s lawyers…

NEWYou can now listen to Fox News articles! It’s a New Day in WWE.Kofi Kingston and Xavier Woods departed the company on Saturday after etching their names into the tag team history books in WWE for several years. The duo were four-time tag team champions as a team and eight times when Big E is included in the group.The New Day were fan favorites and held the tag team championship for a record 483 days.But Woods’ injury threw a wrench in the New Day storyline after the team turned heel following their tag title win at WrestleMania 41. Kingston had…

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TRUMP DUE TO VISIT BEIJINGThe move comes less than two weeks before US President Donald Trump is due to visit Beijing, highlighting China’s willingness to deploy its economic pressure tools despite a trade truce with Washington.Under the law, introduced in 2021 and most recently revised in April, China can impose countermeasures on companies and individuals, including trade and investment curbs and entry and exit restrictions.Legal analysts say the law leaves counterparties of sanctioned firms caught between jurisdictions, risking violations of Chinese law if they comply with foreign sanctions, or penalties elsewhere if they do not.Canada’s Trade Commissioner Service warned companies…

Crypto markets remain in recovery mode after a punishing drawdown from October 2025 peaks, and one of the industry’s most powerful voices just made the bull case in raw numbers. This is fueling bullish price prediction for Bitcoin and its beta plays like Bitcoin Hyper.Binance CEO Richard Teng posted a stark comparison on X this week: crypto exchanges sit at a $55 billion combined valuation against $36 trillion in financial services alone. That ratio, roughly 0.15% penetration, either looks like a ceiling or a runway, depending on your timeframe. Broader market forecasts are starting to tilt toward the latter. People…