Good morning, Australia! Today is October 28 and here is your news briefing!
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Today's reading time is 7 minutes. - Miko Santos
Here’s what else you need to know to get going and get on with your day.
1️⃣ Consumer Protection: Microsoft Faces Court Action Over Alleged Deception
Australian competition regulator launches proceedings against Microsoft, alleging 2.7 million subscribers were misled about subscription options following Copilot integration. ACCC claims company deliberately concealed option to retain existing plans without 45% price increase, seeking penalties and consumer compensation.
2️⃣ Strategic Partnership: Australia, US Sign $8.5 Billion Critical Minerals Framework
Prime Minister Albanese and President Trump finalize landmark agreement on rare earth extraction and processing. Initial investments include $200 million for Western Australia gallium project, $100 million for Northern Territory rare earths facility. Trump reaffirms AUKUS commitment, Virginia-class submarine delivery timeline.
3️⃣ Regional Diplomacy: Albanese Addresses China Tensions at Seventh Premier Meeting
Australian PM raises aircraft flare incident directly with Chinese Premier Li during ASEAN Summit in Malaysia. Leaders maintain dialogue despite security concerns, acknowledging economic interdependence with China representing 30% of Australian exports, one in four domestic jobs tied to trade relationship.
4️⃣ Economic Expansion: Australia Commits Quarter-Billion to Southeast Asia Investment
Government announces $175 million investment in IFM Investors Asia Pacific Debt Fund, $50 million for Plenary infrastructure platform. Strategy targets Indonesia, Philippines regional projects, opens investment pathways for 15 Australian superannuation funds. ASEAN projected to become fourth-largest economy by 2040.
5️⃣ Historic Leadership: Japan’s First Woman Prime Minister Meets Regional Leaders
Shizuko Takaichi assumes premiership, holds bilateral discussions with Australian PM at ASEAN Summit. Meeting addresses defense cooperation, including Megami frigate program, energy supply agreements. Albanese among first international leaders to engage new Japanese administration.
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