News
Anthony Albanese sworn in as Australia’s 31st Prime Minister
Labor Party Leader Anthony Albanese is Australia’s new prime minister, marking the end of almost a decade’s rule for the conservative coalition
In a ceremony at Government House in Canberra, Albanese took an oath to “well and truly serve the Commonwealth of Australia”.
It was all officiated by Governor-General David Hurley, with MP Richard Marles sworn in as deputy PM and senator Penny Wong becoming foreign minister.
The appointment of Wong marks the first occasion a person born outside of Australia has held the role.
It comes just hours before Albanese and his delegation will travel to Tokyo for an international leaders’ summit.
The rest of the ministry will be sworn in when the prime minister returns from the high-stakes talks.
Outgoing Prime Minister Scott Morrison conceded defeat on Saturday night and said he would also be stepping down as leader of his centre-right Liberal Party.
“I’ve always believed in Australians and their judgement and I’ve always been prepared to accept their verdicts and tonight they have delivered their verdict and I congratulate Anthony Albanese.”
Former australian pm, scott morrison
Partial election results showed independents gaining seats in the lower chamber of parliament.
The so-called “teal independents” with mostly women, who campaigned for more action on climate change, integrity and gender equality toppled the Liberal party in several urban strongholds.
And a strong showing from the left-wing Greens Party ate into Labor’s vote share in many seats.
The makeup of the new parliament looks set to be much less climate-sceptic than the one that supported Morrison’s pro-coal mining administration.
At Sydney’s popular Bondi beach, Australians were upbeat about action on climate change under the country’s new leadership:
“Lovely to see the independents, I think. Real change and a step forward for the environment.”
“If we can get action on climate change, then that’s going to be quite exciting.”
It’s still unclear whether the Labor party will govern with a majority or with the help of some independents or Greens.
Labor is still several seats short of winning more than half the seats in the lower house, with about a dozen electorates deemed too close to call.
Official results could be several days away, with the counting of a record 2.7 million postal votes to begin Sunday afternoon.
News
SpaceX IPO could make Elon Musk’s Mars dream a trillion-dollar reality
SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.
SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.
Investors are buzzing as SpaceX gears up for a potential IPO, aiming to raise more than $25 billion, possibly as soon as June. The offering could value the company at over $1 trillion, fueling Musk’s ambitious plans for Mars and beyond.
Despite the high-risk nature of space ventures, demand from retail investors is expected to be strong. Experts predict this IPO could become historic, with the company’s market value potentially soaring past $2 trillion once it launches.
Musk’s unconventional management style hasn’t slowed investor enthusiasm, even amidst regulatory hurdles. The funds raised could also support groundbreaking innovations, including energy-efficient space data centers.
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#SpaceX #ElonMusk #IPO #MarsMission #Investing #StockMarket #TrillionDollar #SpaceTech
News
Russia shoots down 280+ Ukrainian drones as Zelenskyy pushes new peace plan
Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.
Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.
Russia’s Defence Ministry claims it has shot down over 280 Ukrainian drones, with 40 intercepted near Moscow, some targeting the city directly. Emergency services responded to debris, and temporary flight restrictions were enforced at Moscow’s airports amid the attacks.
Meanwhile, President Zelenskyy revealed his team is finalizing a revised 20-point peace proposal, introducing new ideas on territorial control. Ukrainian and American officials are set to consult online, focusing on security guarantees rather than the detailed points of the plan.
As tensions rise, both military clashes and diplomatic efforts continue to shape the future of the conflict. Keep up with the latest updates and expert analysis on these unfolding events.
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#UkraineConflict #RussiaUkraine #Zelenskyy #DroneAttack #PeacePlan #Moscow #WorldNews #TickerUpdates
News
RBA rate hike fears & Fed cuts shake Wall Street
Fresh jobs data fuels speculation of earlier RBA rate hikes amid underlying labor-market issues affecting the Australian economy.
Fresh jobs data fuels speculation of earlier RBA rate hikes amid underlying labor-market issues affecting the Australian economy.
Fresh jobs data has sparked speculation that the Reserve Bank of Australia may raise rates sooner than expected. Market watchers are weighing how steady unemployment may mask deeper labor-market weaknesses and what that means for the Australian economy.
Kyle Rodda from Capital.com breaks down why some economists now expect the RBA could move twice in 2026 and how tighter financial conditions may influence households and businesses.
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#RBA #FedRateCut #WallStreet #InterestRates #AustralianEconomy #Investing #Markets #FinanceNews
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