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Today's reading time is 5 minutes. - Miko Santos
Breaking :Former South Australian Premier Jay Weatherill Named Australia’s High Commissioner to United Kingdom
Former South Australian Premier Jay Weatherill will serve as Australia’s next High Commissioner to the United Kingdom, Prime Minister Anthony Albanese announced Monday, positioning the veteran politician to advance AUKUS submarine partnership negotiations.
Weatherill, who served as South Australia’s 45th Premier for over six years, brings extensive experience in defense industry development and renewable energy policy to the diplomatic posting. His appointment follows service by outgoing High Commissioner Stephen Smith, whom Albanese thanked for representing Australian interests across security and defense matters.
Australia implements world-first social media age ban Dec 10, driven by parents who lost children
Australia will implement world-leading social media age restrictions on December 10, a reform Prime Minister Anthony Albanese described as driven by parents who lost children to online harms and young advocates pushing for change.
The legislation, which Albanese announced would take effect in less than a week, represents what the government characterizes as a “bottom-up” reform inspired by bereaved families and youth campaigners seeking alternatives to excessive device usage.
Liberal Senator Demands ABC Executive Firings After BBC Resignations Over Documentary Scandals
A senior Liberal senator called Monday for ABC executives to be fired over a doctored documentary scandal, drawing comparisons to recent high-level resignations at the BBC and arguing Australia’s public broadcaster faces far less accountability than its British counterpart.
Senator Sarah Henderson told Sky News AM Agenda that the ABC’s head of News and Current Affairs should have lost his job after the broadcaster was successfully sued for defamation by former commando Heston Russell, who was falsely portrayed as a war criminal in a doctored report.
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ANZ Profit Drops 10% as Bank Takes $1.1 Billion Hit From Regulatory Settlement, Restructuring
ANZ Bank reported a 10% drop in annual profit Monday, weighed down by a $1.1 billion charge that included an ASIC regulatory settlement and restructuring costs as the major lender warned two of its key Australian divisions are falling short.
The bank posted a statutory profit of $5.89 billion for the year ended Sept. 30, down from $6.54 billion the previous year, according to results released Monday. Stripping out the significant items announced Oct. 31, the bank’s underlying cash profit remained flat at $6.9 billion.
RBA Deputy Governor Signals Cautious Approach on Rate Cuts Despite Economic Recovery
The Reserve Bank of Australia is unlikely to rush into additional interest rate cuts despite three reductions already implemented, Deputy Governor Andrew Hauser told a UBS conference Monday, pointing to capacity pressures in the Australian economy that remain higher than in any recovery over the past 40 years.
Hauser, who serves as Deputy Chair of the RBA Monetary Policy Board and commenced his role as Deputy Governor in February 2024, acknowledged the bank faces a challenging balancing act between supporting growth and managing inflation as Australia navigates an economic recovery that began in September 2024.
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IN PICTURES
CHECK THIS OUT
America’s $300B travel secret: Why millions don’t know they’re sitting on a fortune
When Cortney Clegg wanted to take her family to Costa Rica, she braced herself for sticker shock. She hoped to mitigate some of the cost by using the points she’d accumulated from her credit cards, but she was surprised to find she had more than enough to cover all of the flights — and then some. “We ended up getting six flights for 136,000 miles total,” she says. “It was like finding $6,000 I didn’t know we had.”
The windfall was so substantial that Clegg could upgrade her family’s hotel and even bring along her in-laws. “I was absolutely shocked that we could book this trip using the points and miles that we already had. I had thought it would take us years to save up for it.”
WATCH THIS
In the eastern Democratic Republic of Congo, a miner digs for his dreams hoping the “grey gold” of coltan, used in much of today’s electronics, can bring his family back together.
PICK OF THE DAY
How will tariffs impact your holiday shopping?
Rising prices have been top of mind for consumers for several years, especially coming off the high inflation after the pandemic. Now, rising global tensions in 2025, including new tariffs, are starting to impact people’s wallets.
In fact, the Harvard Business School Pricing Lab, which has been tracking the effect of tariffs on more than 350,000 goods, has found prices are around 5% higher as a result of them.
As you’re preparing for your holiday shopping this year, you may see higher price tags on items from children’s toys to electronics, especially given the portion of products on the store shelves that come from China.
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