| | 27/09/2024 Australia’s ‘oligopolists’, Musk’s Trump funding, and paths to negative gearing reform |
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| | | Morning everyone. Australia’s big two supermarkets have suffered a further blow to their reputation with the watchdog’s interim report accusing them of “oligopolistic market structures”. We examine the options for reforming negative gearing, and our podcast wonders if such a radical move is exactly what Labor needs. Plus, New York’s mayor is charged with bribery, Elon Musk has emerged as the major backer of Donald Trump’s ground game in battleground states and Lord’s has beefed up security as Australia return to the scene of the Ashes stoush. |
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| Australia | | Tunnel trouble | The Victorian government has announced that its Metro Tunnel project has blown out by another $837m thanks to the rising cost of materials, labour and borrowing. Benita Kolovos explains what’s going on. | ‘Oligopolistic market’ | Coles and Woolworths provide broadly similar products, prices and loyalty programs in an oligopolistic market that may limit competition, the ACCC has found in its interim report on the sector. | Dutton call | The opposition leader, Peter Dutton, has called for the University of Sydney vice-chancellor, Mark Scott, to resign, saying he would do so if he had “any shred of integrity”. | China threat | The slowdown in China has been identified by the Reserve Bank as one of the key external threats to the Australian economy and overnight the government in Beijing announced its second stimulus package of the week, this time aimed at propping up the moribund housing market. | Line of Fire reports | The ABC has appointed veteran journalist and media executive Alan Sunderland to undertake an independent review of the broadcaster’s Line of Fire reports about an Australian military operation in Afghanistan. |
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| Full Story | | Could ditching negative gearing be the bold move Albanese needs? Bridie Jabour speaks to Paul Karp about why Australia could be gearing up for another election battle over tax breaks for housing investors. We also have an explainer by Josh Butler about the different options for reforming the system. | |
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| | | | | | | | | The most important news from Australia and the globe, as it breaks |
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| | Newsletters may contain info about charities, online ads, and content funded by outside parties |
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| In-depth | | For migrants on bridging visas such as Sukhdeep Kaur and Jaswinder Singh, the need to reapply every three months brings mental torture. They tell Rafqa Touma about the dilemma of having to visit dying parents in India and risk not being allowed back into Australia for three years, or not seeing their parents again. Jaswinder has just returned to India to see his elderly father, leaving Sukhdeep at home where she can only talk on the phone to her mother who has cancer. “We are just breathing. We are not living. We are dying inside,” she says. |
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| Not the news | | Nardi Simpson, the Yuwaalaraay woman and Stiff Gins musician turned novelist, has just released her second book, The Belburd. Like her debut, Song of the Crocodile, it interweaves a modern story that draws on cultural stories. She talks to Dee Jefferson about reimagining the history of Sydney and the danger of appropriating the stories of real people. |
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| The world of sport | | NRL | The Brisbane Broncos have sacked coach and club legend Kevin Walters after the club’s stunning fall from NRL grand finalists last year to 12th spot. | AFL | Brisbane Lions fans are preparing to make the trip to Melbourne for tomorrow’s grand final and hoping to go one better than last year. | Cricket | Alex Carey and his Australia teammates will walk back through the Long Room at Lord’s later today with extra security a year on from the day they were verablly abused by members during the Ashes Test. | Formula One | Daniel Ricciardo’s career appears over after it was announced he will be replaced by the New Zealander Liam Lawson at Red Bull for the remainder of the season. |
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| What’s happening today | China | Treasurer Jim Chalmers’ two-day visit continues. | Tasmania | Decision in Tasmania’s Museum of New and Old Art appeal against ladies’ lounge closure decision. | Melbourne | AFL grand final parade starting at 9am. |
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| Brain teaser | And finally, here are the Guardian’s crosswords to keep you entertained throughout the day. Until tomorrow. | |
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