Investigation reveals some elderly people forced to make huge payouts
Concerns over homeowner scheme, Biden insists he is ‘not leaving’, Kokkinakis wins Wimbledon epic | The Guardian

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Leanne Mackey, whose father signed up to the Homesafe equity release scheme, outside her home in Point Cook, Victoria.
04/07/2024

Concerns over homeowner scheme, Biden insists he is ‘not leaving’, Kokkinakis wins Wimbledon epic

Martin Farrer Martin Farrer
 

Morning everyone. Older Australians have been left “dumbfounded” by the huge payouts they had to make to a home equity release scheme after they sold their homes, a Guardian investigation has found. We also have the latest on the Fatima Payman saga, pictures from the Midwinter Ball, Joe Biden vows to fight on, and Thanasi Kokkinakis wins a Wimbledon classic.

Australia

Political Leaders Attend Midwinter Ball In CanberraCANBERRA, AUSTRALIA - JULY 03: Rachel Griffiths and Minister for Home AffairsClare O’Neil arrive at the Midwinter Ball at Parliament House on July 03, 2024 in Canberra, Australia. The annual Mid Winter Ball is a ticketed event hosted by the Federal Parliamentary Press Gallery. (Photo by Tracey Nearmy/Getty Images)

Midwinter Ball | It was Canberra’s night of nights last night with the Midwinter Ball bringing the political class out in all their finery, and even an actual celebrity, Rachel Griffiths (pictured with the home affairs minister, Clare O’Neil).

Exclusive | The Albanese government will strike a new funding deal with Papua New Guinea to support asylum seekers after the country threatened to send them back to Australia unless a fresh agreement was signed.

Payman support | A Labor branch in Anthony Albanese’s own electorate has passed a motion expressing support for the dissident senator Fatima Payman, even as expectations grow she is poised to quit the party.

Exclusive | Sydney is running out of landfill and an “emerging weak link” in the plan for how the city manages solid waste in the future could see uncollected garbage left piling up at hospitals and other businesses, experts warn.

Koala ban | Cuddling koalas has been banned by Queensland’s Lone Pine Koala Sanctuary but other states have even stricter laws on how much the endangered animal can bear.

World

President Biden Launches Black Voters for Biden-Harris Initiative During Campaign RallyUS President Joe Biden, left, and Vice President Kamala Harris arrive for a campaign event at Girard College in Philadelphia, Pennsylvania, US, on Wednesday, May 29, 2024. Biden launched a national organizing effort targeting Black voters, which will partner with Black organizations to promote voter education and registration as well as strengthen voter-protection efforts, according to the campaign. Photographer: Hannah Beier/Bloomberg via Getty Images

Sleepy Joe? | Joe Biden and Kamala Harris made a surprise appearance on a campaign call and told staffers “no one is pushing me out” of the presidential race. Biden is preparing to meet with party governors after his admission he nearly fell asleep during the disastrous presidential debate last week. The White House denied reports that he is considering stepping down, while here are six possible replacements as Democratic nominee.

UK election | Rishi Sunak has confided to members of his inner circle that he is fearful of losing his normally ultra-safe Yorkshire constituency at the UK general election, the Guardian has been told. One of Sunak’s most loyal cabinet allies said Labour is heading for “the largest majority any party has ever achieved”.

French fracture | France’s prime minister has said nationwide efforts to prevent Marine Le Pen’s National Rally winning an outright majority in parliament could succeed after more than 200 candidates pulled out of Sunday’s legislative election runoff to avoid splitting the anti-far right vote.

Weight watch | People who have been prescribed a weight-loss injection could be at a higher risk of developing an eye condition which can lead to blindness, a study has found.

The first picture story | The world’s oldest known picture story is a cave painting almost 6,000 years older than the previous record holder, found about 10km away on the same island in Indonesia, archaeologists have said.

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FILE - Britain’s Labour Party leader Keir Starmer speaks on stage at the launch of the party’s manifesto in Manchester, England, Thursday, June 13, 2024. U.K. voters are set to cast ballots in a national election on July 4, passing judgment on 14 years of Conservative rule. They are widely expected to do something they have not done since 2005 — elect a Labour Party government. (AP Photo/Jon Super, File)

Who is Keir Starmer?

By the end of the week, Keir Starmer could be the UK’s next prime minister. Why do voters in the UK general election feel they don’t know him?

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In-depth

A photo of the father of Leanne Mackey on her phone at their home in Point Cook Victoria, on the 31st of May 2024

For Leonard Wolfenden, the implications of his Homesafe deal were enormous. In exchange for an advance of about $80,000, the “home equity release” scheme claimed 54% of the sale proceeds of his Melbourne home when he sold 13 years later. After Homesafe took its share, he was left with just $235,000 – not enough to buy the small unit he had planned to downsize to, and meaning he spent his last years of life living with his daughter, away from his community, and on a strict budget. Guardian Australia’s investigation into Homesafe has found that customers as old as 89 have signed up to deals that experts have warned are “opaque” and “obtuse”. The company said: “The Homesafe contract is transparent, and our customers enjoy the certainty of being debt free and protecting their lifetime tenancy in their homes.”

Not the news

Screengrab from Disney series The Bear S3 Ep 9 featuring the cookbook collection in Carmy’s apartment

The third series of the hit Disney+ series The Bear, which follows the fortunes of a Chicago chef Carmy, launched last week to give its fans more details to obsess over. For eagle-eyed viewers here that includes the presence of notable Australian cookbooks such as Peter Gilmore’s Quay: Food Inspired by Nature in Carmy’s apartment and on the shelves of his restaurant, writes Lee Tran Lam.

The world of sport

TENNIS-GBR-WIMBLEDONAustralia’s Thanasi Kokkinakis celebrates winning against Canada’s Felix Auger-Aliassime during their men’s singles first round tennis match on the third day of the 2024 Wimbledon Championships at The All England Lawn Tennis and Croquet Club in Wimbledon, southwest London, on July 3, 2024. (Photo by Ben Stansall / AFP) / RESTRICTED TO EDITORIAL USE (Photo by BEN STANSALL/AFP via Getty Images)

Wimbledon | Thanasi Kokkinakis has progressed to the third round of Wimbledon after an epic five-set, rain-affected victory over the 17th seed, Canada’s Felix Auger-Aliassime. It was needed after Jordan Thompson bowed out tamely and Aleksandar Vukic lost to brilliant champion Carlos Alcaraz. Britain’s Emma Raducanu lit up the day with a demolition of Elise Mertens as female players pushed the boundaries with their fashion choices.

Cycling | Mark Cavendish became the most prolific stage winner in the history of the Tour de France after a 35th victory in Saint-Vulbas to overhaul Eddy Merckx’s long-held mark.

NBA | LeBron James has reportedly agreed a new two-year contract with the LA Lakers for a record-equalling 22nd season where he could play with his son Bronny.

Media roundup

Office property valuations have fallen 10% amid forecasts they could fall further, the Sydney Morning Herald warns. Drivers of ultra high-powered cars will have to undergo extra training in South Australia after teenager Sophia Naismith was killed when a Lamborghini mounted a footpath, the Advertiser reports. The search for a 12-year-old girl missing in a creek has entered the “recovery stage” the NT News reports.

What’s happening today

Toowoomba | Bruce Lehrmann committal hearing.

Resources | Judgment and hearing at the federal court in Adelaide on Tiwi traditional owners’ challenge to Santos pipeline.

Economy | ABS releases international trade figures.

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