News
London Bridge is down: what happens next?
The United Kingdom is mourning the loss of its longest-serving Monarch, Her Majesty, Queen Elizabeth II
Queen Elizabeth II has passed away at her Balmoral residence surrounded by her family.
The death of the 96-year-old Monarch begins a period of mourning across the United Kingdom and Commonwealth realms, where strict royal protocols are in place.
At the time of her death, UK Prime Minister Liz Truss was called with the secret message ‘London Bridge is Down’.
The phrase was delivered by civil servants through secure telephone lines.
D-Day
This is also known as the day of Queen Elizabeth II dies.
Buckingham Palace confirmed her death with a placard at the front of her London residence. Flags have been lowered to half mast, as Prince Charles becomes King Charles III.
“We mourn profoundly the passing of a cherished sovereign and a much-loved mother. I know her loss will be deeply felt throughout the country, the realms and the Commonwealth, and by countless people around the world.”
His Majesty, King CHARLES
It’s understood Queen Elizabeth’s coffin will temporarily remain at the Palace of Holyroodhouse.
Then, it will travel to London either by air or on the British Royal Train.
Once D-Day passes, the subsequent days will become D+1, D+2, and so on.
How long does the mourning period last?
There are 10 official days between Her Majesty’s death and when she is laid to rest.
On D-3, King Charles embarks on a Royal Tour of the United Kingdom. He will conduct a guard of honour inspection and continue to mourn his mother’s death.
Then, he will make his way to Northern Ireland and attend remembrance services.
By D-5, the King will return to London where the Imperial State Crown and flowers will be laid on the Queen’s coffin.
The Royal Family are expected to hold prayers and a gun carriage procession will take place at 2:30pm local time.
Half an hour later, the coffin will arrive at Westminster Hall and be moved inside.
Eight days after her death, the King will meet with Governor Generals and Prime Ministers from the Commonwealth realms, and around the world.
D-9 will involve last minute preparations for Her Majesty’s funeral. It is unclear whether the Royal Family will make any public appearances at this time.
On the tenth day, the United Kingdom and the world will bid farewell to Queen Elizabeth II.
Her coffin will be moved to Windsor Castle, where a service will then be held at St George’s Chapel.
Her Majesty’s final resting place will be in the Royal Vault, while a private burial will be held.
The day after Queen Elizabeth’s funeral, flags will move back to full mast and an additional mourning period will be determined by the UK Government.
What happens in a year from now?
King Charles III’s official coronation will take place in a year. At the same time, the UK and Commonwealth’s currency will be reprinted with the King’s portrait.
There will also be changes to passports, stamps and official uniforms.
Finally, the British national anthem will be changed to ‘God Save the King’.
News
Appeals court halts Trump’s attempt to fire Cook
Appeals court blocks Trump’s attempt to remove Lisa Cook from Federal Reserve ahead of crucial interest rate meeting
Appeals court blocks Trump’s attempt to remove Lisa Cook from Federal Reserve ahead of crucial interest rate meeting
– A federal appeals court has blocked Trump’s attempt to remove Lisa Cook from the Federal Reserve board.
– Trump’s expected Supreme Court appeal raises concerns about the Federal Reserve’s independence and market stability.
Cook has faced allegations of mortgage fraud, which she denies. Her lawyers assert she has not committed any wrongdoing, and documentation reviewed by NBC News supports her position.
Trump is expected to appeal this ruling to the Supreme Court.
The legal context for Cook’s position at the Federal Reserve highlights that removal can only occur “for cause,” under the Federal Reserve Act. Analysts warn that firing Cook may destabilise the Federal Reserve, which is critical for market stability.
Legal Context
The Supreme Court has previously distinguished the Federal Reserve from other federal agencies, underlining its unique structure.
Concerns have escalated regarding the implications of Trump’s actions on the independence of the Federal Reserve and broader economic stability.
News
Chinese auto brands dominate, taking one in five Aussie sales
Chinese car brands surge in Australia, capturing 20% market share with diverse offerings and aiming for expansion despite challenges
Chinese car brands continue to rise in Australia, capturing 20% market share with a diverse range of EV offerings.
– Over 20 Chinese car brands, including BYD and MG, are now available in Australia, with four in the top ten.
– Traditional automakers are adapting to increased competition and concerns about the quality of new Chinese entrants.
Australia is witnessing a significant increase in the presence of Chinese car brands, with over 20 names currently available, including BYD, GWM, and MG. In August, four Chinese brands ranked in the top ten for the first time, indicating a growing market share.
Australia’s low trade barriers facilitate the entry of these brands, which view the market as an opportunity for growth and learning. Most electric vehicles sold outside of Tesla are Chinese, showcasing their dominance even in models from other manufacturers.
Industry analyst Mike Costello from Cox Automotive joins to discuss the latest developments in the EV space, and answers the big question: who was the dominate force at this year’s Munich Motor Show?
Money
RBA plans to ban credit card surcharges in Australia
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.
The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.
The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.
A final decision by the RBA is anticipated by December 2025.
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