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Murdoch loses trust control bid for son Lachlan

Rupert Murdoch’s attempt to alter family trust for Lachlan’s control denied by Nevada commissioner, citing bad faith.

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Rupert Murdoch’s attempt to change the family trust to consolidate control under his son Lachlan has been rejected by a Nevada commissioner.

The ruling, made by Commissioner Edmund J. Gorman Jr., stated that Murdoch and Lachlan acted in “bad faith” while trying to amend the irrevocable trust, which divides control equally among Murdoch’s four oldest children.

The 96-page opinion characterised the plan as a “carefully crafted charade” intended to secure Lachlan’s executive roles unconditionally.

Murdoch’s lawyer expressed disappointment and plans to appeal the ruling.

FILE PHOTO: Media mogul Rupert Murdoch poses for a photograph with his sons Lachlan and James in London.

Media empire

This dispute is critical as it affects the future control of Murdoch’s media empire, which includes Fox News and other major outlets.

While the intention was not to diminish financial stakes, the ruling reflects deep family tensions, especially given differing political views among the siblings.

The commissioner noted Lachlan initiated the proposed changes, created a plan dubbed “Project Family Harmony,” and labeled James as a “troublesome beneficiary.”

Despite Lachlan and Rupert’s efforts, the attempt to marginalise James was deemed insufficiently justified by the court.

Murdoch’s family trust, established in 2006, retains his control until his death, and includes provisions allowing amendments.

However, the commissioner found that Murdoch and Lachlan’s actions were not supporting their siblings’ best interests.

The ruling is not final and may be contested further in court.

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US government reopens amid unresolved political divisions

US government reopens after record shutdown, yet deep political rifts and funding uncertainties linger

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US government reopens after record shutdown, yet deep political rifts and funding uncertainties linger

In Short:
– U.S. government reopens after 43-day shutdown, causing disruption and unpaid federal workers.
– Political divisions persist, with unresolved issues and nearly equal blame for the shutdown on both parties.
The U.S. government is set to reopen following the longest shutdown in history, lasting 43 days.

This shutdown disrupted air travel and food assistance, leaving over 1 million federal workers unpaid.Political divisions remain despite the funding package allowing the government to resume operations. Republican President Donald Trump’s administration continues to challenge Congress on financial matters, and unresolved health subsidies remain a key issue.

Discontent within the Democratic Party is evident, as moderates and liberals disagree on how to handle Trump’s presidency.

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Federal employees affected by the shutdown will receive back pay, with payments expected to be completed by Wednesday. While Trump’s administration previously threatened to withhold pay, there are no current indications of this. The deal reached ensures that federal jobs safeguarded during the shutdown are maintained.

Air Travel Normalises

Air traffic is returning to normal after significant disruption during the shutdown.

The Department of Homeland Security announced bonuses for security screeners who worked extra shifts. State funding for food aid programs will be restored shortly, assisting millions of Americans dependent on these resources.

Polling reveals nearly equal blame for the shutdown is placed on both political parties. Upcoming funding decisions pose the threat of repeating the shutdown cycle as concerns about national debt persist.


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Markets brace as U.S. government reopens ahead of key Fed signals

U.S. government funded through January; traders anxious amid economic data delays and potential December rate cut.

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U.S. government funded through January; traders anxious amid economic data delays and potential December rate cut.


The U.S. government is funded through January, averting another shutdown for now, but economic data delays and shifting Fed expectations are keeping traders on edge.

Markets now price in a 64% chance of a December rate cut as officials deliver crucial speeches this week.

#USMarkets #FederalReserve #GovernmentShutdown #InterestRates #USEconomy #WallStreet #Inflation #Treasury #FinanceNews #GlobalMarkets


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Starmer under strain as leadership rumours grow

Keir Starmer faces internal pressure and speculation of a leadership challenge ahead of the crucial Autumn Budget.

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Keir Starmer faces internal pressure and speculation of a leadership challenge ahead of the crucial Autumn Budget.


UK Prime Minister Keir Starmer faces mounting internal pressure amid talk of a leadership challenge and economic strain ahead of the Autumn Budget.

Chancellor Rachel Reeves’ looming tax decisions and Starmer’s sinking approval ratings are fuelling speculation across Westminster.

#UKPolitics #KeirStarmer #LabourParty #RachelReeves #AutumnBudget #LeadershipChallenge #BritishPolitics #Westminster #Economy #UKNews


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