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Sunak calls for Australia to find solution to Comm Games cancellation

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The UK downplays the idea of hosting the event again after the Victorian Government abruptly cancelled the 2026 event citing a cost blowout

Downing Street expressed optimism in finding a “viable solution” for the 2026 Commonwealth Games originally planned in Australia, but dismissed the idea of the UK stepping in to host the event. 

Scotland’s First Minister, Humza Yousaf, expressed interest in exploring the possibility of hosting the games as part of a multi-country UK bid.

Victoria’s premier, Daniel Andrews, had announced the state’s withdrawal due to escalating staging costs.

“This is a disappointing outcome for both fans and athletes,” Prime Minister Rishi Sunak’s official spokesman said.

“We hope that the Victoria state government, the Games federation and Commonwealth Games Australia will now work together to find a viable solution to hosting the event in 2026.”

In 2017, Birmingham took over the hosting rights for the 2022 Commonwealth Games after the Federation stripped Durban, South Africa, of the opportunity.

The event’s cost in Birmingham was £778m (AU$1.5bn), with funding shared between the central government and Birmingham City Council. An independent report highlighted the positive contribution of £870.7m (AU$1.7bn) to the UK economy.

When asked about encouraging a home nation to host the 2026 event, the government spokesperson advised against rushing into decisions.

“In the first instance it’s for those bodies and groups I’ve just mentioned to have those discussions and see if a solution can be found,” said the spokesperson.

“Obviously the UK has been honoured to host the Games twice in the past decade (Birmingham 2022 and Glasgow 2014) so we will see what comes out of those initial discussions.”

Katie Sadleir, the chief executive of the Commonwealth Games Federation, welcomed the possibility of Scotland being part of a multi-city, multi-country host.

“The UK are fantastic hosts and we would be very open to having a conversation with them about it, if that’s something they would be interested in doing,” she said.

Humza Yousaf expressed interest in exploring the possibility, while England, Scotland, and Wales’ national Commonwealth federations were disappointed by Victoria’s withdrawal, stating it was unsettling for athletes.

 

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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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SoftBank sells Nvidia stake to fund massive AI push

SoftBank sells $5.8B Nvidia stake to invest in AI, sparking analysts’ views on Masayoshi Son’s bold gamble.

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SoftBank sells $5.8B Nvidia stake to invest in AI, sparking analysts’ views on Masayoshi Son’s bold gamble.


SoftBank has sold its entire $5.8 billion Nvidia stake to double down on artificial intelligence, investing heavily in OpenAI and the colossal $500 billion Stargate data-centre project.

Analysts say it’s Masayoshi Son’s boldest tech gamble yet.

#SoftBank #Nvidia #OpenAI #AI #MasayoshiSon #Stargate #TechNews #Investing #DataCenters #ArtificialIntelligence


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