Trump urges companies to produce in the U.S. to avoid tariffs, proposes historic tax cuts to incentivise domestic manufacturing.

President Donald Trump spoke virtually at the World Economic Forum, highlighting his plans for tax cuts aimed at encouraging companies to produce goods in America.

Trump stated that significant tax cuts are expected for workers, families, and domestic manufacturers.

He noted that some previous tax cuts are set to expire at the end of 2025 unless extended, implying ongoing discussions with Democrats about this issue.

His message to businesses worldwide was clear: produce in America for lower taxes.

He warned that companies that choose not to manufacture in the U.S. would face tariffs, which could direct substantial revenue into the U.S. treasury.

Trump reiterated his support for tariffs on imports, hinting at planned tariffs of 10% on goods from China and 25% on those from Canada and Mexico starting soon.

Albanese to announce $10,000 cash bonuses for apprentices in residential construction at National Press Club.

Prime Minister Anthony Albanese will announce a new policy at the National Press Club, offering a $10,000 cash bonus to apprentices in residential construction. This incentive aims to support the training of the next generation of tradespeople and address workforce shortages in a sector facing significant challenges.

The funding, totalling $626.9 million, is meant for over 60,000 apprentices, with payments made in five $2,000 instalments throughout their apprenticeship. However, previous similar initiatives, such as a scheme for green jobs, attracted only 2,200 participants, indicating potential difficulties in reaching the target.

Albanese’s address marks a year since he introduced changes to stage three tax cuts. He aims to tackle the housing crisis by increasing the number of new homes, with a goal of 1.2 million in five years. Achieving this will require 90,000 additional workers, as identified by construction industry leaders.

The announcement will also include plans to increase allowances for apprentices living away from home and a commitment to making fee-free TAFE subsidies permanent, allowing more Australians to gain vocational skills without financial barriers.

Labor’s housing strategy contrasts with the Coalition’s approach, which supports first homebuyers using superannuation savings for deposits. The debate over vocational training continues, with calls to encourage trades over university degrees, highlighting the importance of skills in the current economic climate.

CNN lays off 6% of workforce, about 200 jobs, as part of strategy to secure future amid audience shifts.

CNN has announced the elimination of approximately 200 jobs, constituting about 6% of its workforce, in a move aimed at securing the network’s future.

CEO Mark Thompson described the layoffs as a necessary step in response to “irreversible shifts” in news consumption. He stated that the objective is to realign CNN with the platforms and products that audiences increasingly prefer.

Thompson stressed the importance of high-quality news sources and noted that the changes are essential for maintaining trustworthiness in journalism. While on-air talent will remain unaffected, the network is investing $70 million from its parent company, Warner Bros. Discovery, into new digital plans, leading to future job opportunities.

The network intends to develop a new streaming service, allowing for greater audience access to CNN’s content.

Thompson acknowledged the difficult nature of the layoffs and expressed regret regarding the personal impact on employees.

As CNN continues to adapt to the evolving media landscape, it aims to enhance its digital presence while investing in quality journalism. The recent job cuts are seen as a pivotal moment in this transformation process, despite the acknowledgment of their unwelcome nature.

The network’s ratings challenges have been significant, culminating in its lowest audience in history for 2024. Despite these cuts, CNN is determined to support impacted staff members and maintain its commitment to journalism excellence in the changing environment.