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Trump and Musk aim for sweeping federal overhaul with new ‘Efficiency Department’

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The incoming administration plans to slash $2 trillion in spending, with Elon Musk and Vivek Ramaswamy at the helm of the Department of Government Efficiency.

President-elect Donald Trump has announced a bold initiative to streamline the federal government’s operations and budget, enlisting two high-profile figures to spearhead the effort.

The newly formed Department of Government Efficiency will be led by billionaire entrepreneur Elon Musk, known for revolutionizing multiple industries, and biotech executive Vivek Ramaswamy.

Their ambitious plan aims to cut at least $2 trillion in federal expenditures through rigorous review and restructuring.

Musk’s reputation as an innovator and disruptor positions him uniquely to challenge entrenched bureaucratic inefficiencies.

The initiative reflects Trump’s broader vision of reshaping government operations to prioritize fiscal responsibility, tapping into the private sector’s ingenuity.

Ramaswamy, noted for his entrepreneurial approach and advocacy for economic modernization, is expected to bolster the department’s strategic framework.

The Department of Government Efficiency’s creation signals a significant pivot towards aggressive budgetary reform and oversight.

While critics express concerns about potential impacts on public services and employment, supporters argue that the move is long overdue to ensure taxpayer dollars are utilized effectively.

As plans unfold, the department’s success will likely depend on navigating political challenges and maintaining public trust in its mission to overhaul federal spending.

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Tasmania AFL team confirmed: Macquarie Point stadium legislation passes

Tasmania joins AFL with the Tassie Devils set for 2028; legislation passed for Macquarie Point stadium.

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Tasmania joins AFL with the Tassie Devils set for 2028; legislation passed for Macquarie Point stadium.


Tasmania is officially joining the AFL! After a marathon debate, the Legislative Council has passed the Macquarie Point stadium-precinct legislation 9-5. This milestone paves the way for the Tassie Devils Football Club to join the AFL in 2028, marking a historic moment for Tasmanian sport.

In an exclusive segment of Footynomics: The Business of Sport, Professor Tim Harcourt discusses the significance of this legislation, the social and economic impact of a new AFL team, and why this process took longer than expected.

We also explore what comes next for Tasmania, the AFL, and the broader implications for sports both in Australia and internationally.

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#TasmaniaAFL #TassieDevils #AFLExpansion #Footynomics #MacquariePoint #SportsEconomics #AustralianFootball #TickerNews


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Australian Dollar hits five-week high amid weak GDP and US Dollar

Australian dollar hits five-week high amid soft US dollar, traders eye RBA policies and Fed meeting impacts.

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Australian dollar hits five-week high amid soft US dollar, traders eye RBA policies and Fed meeting impacts.


The Australian dollar has surged to a five-week high as disappointing GDP data and a softer US dollar reshape trader expectations. Market participants are closely watching the Reserve Bank of Australia’s next policy meeting to gauge future interest rate decisions.

We sit down with Steve Gopalan from SkandaFX to break down what these developments mean for the Australian economy and global markets. From Q3 growth figures to inflation indicators, Steve explains the key drivers behind the Aussie dollar’s recent gains.

Traders are also keeping an eye on the Federal Reserve’s upcoming policy meeting, as a weaker US dollar could have further implications for the Australian currency. Stay informed with expert insights and what to expect in the weeks ahead.

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#AustralianDollar #ForexNews #AUD #GDPUpdate #USdollar #InterestRates #RBA #MarketAnalysis


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EU launches antitrust probe into Meta over WhatsApp AI policy

EU probes Meta’s WhatsApp AI chatbot policy for potential antitrust violations affecting third-party developers and competition.

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EU probes Meta’s WhatsApp AI chatbot policy for potential antitrust violations affecting third-party developers and competition.


The European Commission has opened an antitrust investigation into Meta over WhatsApp’s new AI chatbot policy. The inquiry examines whether the policy restricts third-party AI developers from accessing WhatsApp’s business tools, potentially breaching EU competition rules.

Meta updated its terms, effective January 2026, which have already barred new AI providers since October 15. The rules prohibit AI developers from using WhatsApp as their primary service, affecting a number of AI companies looking to integrate with the platform.

The EU’s competition commissioner is considering interim measures to ensure fair competition. If Meta is found in violation, it could face fines of up to 10% of its global annual revenue.

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#Meta #WhatsApp #EURegulation #AIChatbots #TechNews #Antitrust #DigitalCompetition #MetaAI


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