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Italy’s right-wing bloc marches to a majority

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Italy’s right-wing bloc looks set to win a majority in both houses of parliament

Italy’s right-wing bloc looks set to win a majority, after the first exit polls were released.

They signal a clear victory for Giorgia Meloni’s Brothers of Italy coalition.

The polls show the far-right group securing between 41-45 per cent of the total vote. This leaves the major left party with just 25-29 per cent.

If confirmed, the results will give Meloni’s Brothers of Italy a majority in both houses.

At this stage, it is important to note Italian exit polls are often wrong. Many analysts remain hesitant to call the final result.

The election has been closely monitored in Europe and around the world. Italians are deciding on whether to choose their nation’s most right-winged government since World War II.

Here’s what you need to know about the vote

Italy went to the polls after Prime Minister Mario Draghi’s national unity government was brought down by infighting in July.

Polls have consistently shown the country’s right-wing bloc will win a majority in both houses of parliament.

Giorgia Meloni, leader of the nationalist Brothers of Italy, is seen as frontrunner. If successful, she will be the nation’s first female prime minister.

The former far-right activist from Rome has energised her party, which is set to see its share of the vote leap to around 25 per cent from only 4 per cent at the last election in 2018.

Her party is widely expected to emerge as Italy’s largest single party at Sunday’s vote. It will lead an alliance of right-wing parties to a comfortable victory.

The conservative bloc also includes the League party, led by Matteo Salvini, and Silvio Berlusconi’s Forza Italia.

Salvini is the abrasive former interior minister, who takes a hard line on immigration.

In recent months, he has been eclipsed by Meloni

Berlusconi, who will turn 86 four days after the election, has shrugged off old age, ill-health, sex scandals and a criminal conviction.

The four-times prime minister is battling for a central role after the vote. Even if his party is the junior partner now among its three main parties.

Italy’s electoral system favours groups able to form broad alliances, likely amplifying the right-wing bloc’s victory.

The right has also been helped by divisions in the centre-left.

There, attempts to form a broad electoral alliance by the main Democratic Party fell apart.

That leaves three main groups fighting for votes – the PD and its allies, the centrist Azione party and its Italia Viva partner, and the anti-establishment 5-Star Movement.

Led by Giuseppe Conte, the 5-start Movement withdrew support for Draghi’s government in July, sparking divisions that led to this early election.

His strategy has in part been vindicated by an improvement in 5-Star’s poll standings, but the party still faces a spell in opposition.

And what are the main issues for voters?

As in other European countries, the cost of living crisis has overshadowed other concerns such as immigration, crime and public services.

The conservative alliance has called for tax cuts across the board to help Italians cope with rising prices.

The Democratic Party wants tax reductions to be more targeted towards lower income groups.

Meloni has repeatedly voiced her support for Western policy against Russia after it invaded Ukraine.

But League leader Matteo Salvini has called for the European Union to shield Italians from the economic side-effects of sanctions imposed on Russia over the invasion.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Tesla’s robotaxi reveal sparks excitement

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Analysts and investors are eagerly awaiting Elon Musk’s big reveal—a fully functional autonomous vehicle that could revolutionise ride-hailing.

Tesla’s stock has soared 52% since Musk first announced the event in April, reflecting high hopes for the launch of its much-anticipated robotaxi.

The vehicle, dubbed the “Cybercab,” is said to be a sleek, two-seater without a steering wheel or pedals—straight out of the future.

Tesla also teased a ride-hailing app that will summon these driverless cars to pick up riders at their chosen locations.

Not convincing

But not everyone is convinced—some analysts warn that while Musk’s vision is bold, the timeline for these innovations may not deliver immediate results.

Musk has a history of overpromising on autonomous tech, and this event might be more about grand ideas than tangible products.

Tesla first floated the robotaxi idea in 2016, with Musk hinting at a future where owners could lease their cars to others for extra income.

If the software keeps pace with Musk’s ambitions, the future of driverless Teslas might be closer than we think.

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Inflation creeps up as core CPI rises in September

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The core consumer price index (CPI) climbed 3.3% year-over-year in September, signalling continued inflationary pressure in the U.S.

 

Month-over-month, the increase was 0.3%, slightly higher than the expected 0.2%, raising concerns about the Federal Reserve’s ability to ease policy.

This latest inflation data narrows the Fed’s room to manoeuvre, making a significant rate cut at their next meeting less likely.

In other economic news, weekly U.S. unemployment claims have risen to 258,000.

Latest numbers

Ticker’s Ahron Young spoke with Steve Gopalan from SkandaFX about the latest numbers.

Steve Gopalan discusses the impact of rising unemployment claims, inflation, and geopolitical tensions on the market, including the potential effects of Israeli strikes on Iran and China’s policies.

He also addresses expectations for the Fed reserve rate cut and near-term risks affecting the Australian economy and talks about how traders are preparing for China’s Finance Minister news conference on fiscal policy.

The increase in claims is partly attributed to the impact of Hurricane Helene and furloughs at Boeing.

Economists are closely watching how these factors will play into broader economic trends.

With inflation rising and unemployment numbers fluctuating, the economic outlook remains uncertain.

 

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Middle East tensions rise as Iran issues warnings

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Tehran is threatening to target oil-rich Gulf states and other U.S. allies if their territories are used in any attack on Iran, Arab officials reveal.

Israel has warned Tehran of severe consequences after a recent barrage of Iranian ballistic missiles hit the country. In response, Iran vows to strike Israel’s civilian infrastructure and any Arab state that aids in the assault.

Countries like Jordan, the UAE, Saudi Arabia, and Qatar have already expressed concerns to the Biden administration, saying they don’t want to be part of any offensive actions against Iran.

These Gulf states, traditionally under U.S. protection, fear Iran could target their vital oil facilities if the conflict escalates.

With U.S. troops stationed across the region, officials are on high alert as Tehran’s threats loom over an area packed with American military personnel.

Tensions between Israel and Iran continue to rise, with both sides exchanging warnings of devastating consequences.

The energy-rich Persian Gulf, known for its stability under U.S. protection, could now be at risk as the situation remains tense.

The eyes of the world are focused on the region, as threats of conflict keep mounting.

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