Albanese government pledges $41m for six Tafe centres of excellence and more higher apprenticeships

White paper to be released on Monday promises new policy initiatives including national skills passport

The Albanese government will spend an extra $41m in a bid to double higher apprenticeships in the care economy, digitisation and net zero, three priorities identified by the employment white paper.

The treasurer, Jim Chalmers, will release the white paper on Monday, promising nine new policy initiatives including a national skills passport and the bid to boost Tafe with six new centres of excellence around Australia.

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Lachlan Murdoch ‘doubling down’ on right-wing strategy with Tony Abbott’s nomination to Fox board, say critics

Endorsement of former Australian prime minister revealed a day after Rupert Murdoch retired as chair of Fox and News Corp

The endorsement of former Australian prime minister Tony Abbott for a position on Fox Corporation’s board by Lachlan Murdoch shows he is “doubling down” on the company’s “right-wing crusading”, critics say.

Murdoch welcomed the nomination in one of his first moves since being announced as sole chair of both Fox and News Corp this week following the retirement of his father, Rupert Murdoch, at the age of 92.

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The vast majority of NFTs are now worthless, new report shows

Two years after tech trend that swept up artists and celebrities, researchers estimate 23 million people hold worthless investments

Tens of thousands of NFTs that were once deemed the newest rage in tech and dragged in celebrities, artists and even Melania Trump have now been declared virtually worthless.

According to a new report by dappGambl that reviewed data from NFT Scan and CoinMarketCap, 69,795 out of 73,257 NFT collections have a market cap of 0 Ether, leaving 95% of those holding NFT collections – or 23 million people – with worthless investments.

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Sainsbury’s launches bridal collection with £22 Tu wedding dress

The supermarket hopes its new range will see cash-conscious brides stepping from one aisle to another

Milk, bread, eggs … wedding dress? Brides-to-be can usually be found browsing in chic boutiques or stuffy department stores but now Sainsbury’s is hoping it can persuade them to hit the supermarket aisle instead as they go in pursuit of the perfect wedding dress.

This week its mass market fashion brand, Tu clothing, launched its first bridal collection.

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Rupert Murdoch’s last move? The Spectator is in his sights

Rightwing magazine is said to be a favourite of the billionaire and is considered a ‘trophy prize’

Rupert Murdoch may have officially stood aside as chair of his media businesses but he’s still eyeing up what could be his last major UK deal: the purchase of the Spectator magazine.

The rightwing magazine, which is due to be auctioned off next month, is said to be a favourite of the billionaire, who used his resignation statement to claim much of the media is “in cahoots” with elites who have “open contempt for those who are not members of their rarefied class”.

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Coming up for heir: News Corp in uncharted waters with Lachlan Murdoch at the helm

Murdoch Jr does not have the same love for print as father Rupert but newspapers’ influence remains a drawcard for the new boss

Lachlan Murdoch started his leadership training at News Corp more than three decades ago, but exactly how he will steer the media empire remains largely unknown after the decision by his father to step aside.

There have been times when Rupert Murdoch’s eldest son and nominated successor has forged his own path in business – and the record is patchy.

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Greens want superannuation theft made a crime in Labor’s workplace bill

Senator Barbara Pocock says unpaid super is costing workers at least $3.3bn a year, while wage theft losses are about $1.3bn

The Greens have urged the Albanese government to make superannuation theft a crime, after failure to pay super was not included in the proposed wage theft offence in Labor’s closing loopholes bill.

The Greens’ employment spokesperson, Senator Barbara Pocock, has warned that unpaid super is costing workers at least $3.3bn a year, more than double the amount estimated to be lost through wage theft ($1.3bn).

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UAE oil company executives working with Cop28 team, leak reveals

Exclusive: two PR professionals from national oil firm listed as providing ‘support’ to team running UN climate summit

Senior executives from the UAE’s national oil company are working with the Cop28 team as the country ramps up its PR campaign ahead of the major UN climate summit later this year, leaked internal records show.

Two PR professionals from the Abu Dhabi National Oil Company (Adnoc) are identified as providing “additional support” to the team running the summit, according to a Cop28 communications strategy document obtained by the Centre for Climate Reporting (CCR) and the Guardian. It adds to growing evidence of blurred lines between the UAE’s Cop28 team and its fossil fuel industry.

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Warner Bros studios in Leavesden to expand, creating 4,000 UK jobs

Studios behind Harry Potter films to undergo 400,000 sq ft expansion by 2027, in boost to struggling industry

The Warner Bros studios behind the Harry Potter film series are to undergo a major expansion, creating 4,000 jobs and providing a boost to Britain’s beleaguered film and TV production industry.

The development in Hertfordshire, expected to be complete in 2027, will add 400,000 sq ft (37,000 sq metres) to Warner Bros Studios Leavesden (WBSL).

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Russia temporarily bans export of petrol and diesel to stabilise domestic market

Four ex-Soviet states excepted from ban, which has been prompted by railway bottlenecks and weak rouble

Russia has temporarily banned exports of petrol and diesel to all countries outside a circle of four ex-Soviet states with immediate effect, in order to stabilise the domestic market.

“Temporary restrictions will help saturate the fuel market, which in turn will reduce prices for consumers,” the Kremlin said in a statement.

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Rishi Sunak delays some green targets and scraps others as he reveals net zero policy shift – as it happened

PM says people to be given more time to switch gas boilers to heat pumps, and ban on sale of new petrol and diesel cars delayed

Climate scientists have expressed dismay at reports that Rishi Sunak is to row back on net zero commitments, arguing that this would be harmful not just environmentally, but economically too.

Prof Myles Allen, professor of geosystem sciences at Oxford University, said:

We haven’t heard the actual speech yet, but we all have to hope the PM is true to his word that he is looking for better ways to deliver net zero, not just slower ways. As we have found time and again in Britain, dithering costs money. The USA is seeing other countries’ faltering as an opportunity to get ahead. It will be sad indeed if we just see it as an opportunity to join the laggards.

It’s not pragmatic, it’s pathetic. This rolling back on emissions cuts for short-term political gain will undermine the transition to net zero and with it the future opportunities, prosperity and safety of the entire country.

Burning fossil fuels produces carbon dioxide which causes global warming which amplifies the consequences of extreme weather events, as we have so clearly seen this summer. Climate change will continue until we reach net zero globally, and we will then have to suffer the consequences of that warmer world for decades or more. It also matters how we reach net zero, not just when – delaying action means more emissions which means more severe consequences.

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FTX sues Sam Bankman-Fried’s parents, claiming they received millions in gifts

Lawsuit is the company’s first legal pursuit against Bankman-Fried’s parents for their role in the company

FTX is suing the parents of Sam Bankman-Fried, two longtime Stanford Law School professors, alleging that the couple inappropriately used company funds to enrich themselves through gifts and donations.

The cryptocurrency company, now operating under CEO John Jay Ray III, an expert in helping companies recover after bankruptcy, claims Joseph Bankman and Barbara Fried received funds from their son’s company in the form of gifts and donations to specific causes.

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City watchdog ex-chair says he faced ‘political pressure’ to let in crypto firms

Charles Randell says some of the exchanges the FCA was pressed to allow to trade in the UK are now being investigated in the US

The UK’s financial watchdog came under “political pressure” to welcome crypto firms into the British market, its former chairman has said.

Charles Randell, who stepped down as chairman of the Financial Conduct Authority (FCA) in the spring, said it was an example of the kind of influence that elected politicians have tried to exert on independent regulators.

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Australia news live: Victoria to spend public housing money on Carlton towers; RBA considered further rate hike

Reserve bank considered a 25 basis point hike before deciding to hold benchmark cash rate unchanged at 4.1%, minutes reveal. Follow the day’s news live

O’Neil: government response on cybercrime will not take away responsibilities of corporations to secure data

Clare O’Neil is asked whether the government is considering implementing a “safe harbour rule” like other countries have that would enable businesses to report what’s happened but then be saved from prosecution.

What’s really important to understand … is the way in which a cyber attack unfolds is quite different than other types of crime. So if you get something stolen from your house, the police can come in and you can identify the items that are gone usually pretty much immediately. Cybercrime is not like that. Often what is taken is invisible and it will take sometimes months to understand exactly what has happened.

So what what we are thinking about at the moment is how to make sure we’ve got as open disclosure as possible at the crisis point of the attack. So when we know there is an intruder on the system … we need to help companies [eject] them from the system as quickly as possible. That doesn’t take away from any responsibilities that corporations will have ultimately around the transparency of what has happened, and reporting that to government and to regulators.

We’ve got really good reason to believe that the cybersecurity environment is actually going to worsen. And I say that not to scare people, but to help them understand that we can see what is coming at us and that is why the government is so fiercely active on this issue.

What I mean by that is that cybercrime is a relatively new form of criminal activity. And I think what we’re seeing is countries around the world start to build and develop responses that will actually help us bring perpetrators to account …

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European governments shrinking railways in favour of road-building, report finds

Rail networks in most countries have been starved of funding while motorways lengthen, study shows

European governments have “systematically” shrunk their railways and starved them of funding while pouring money into expanding their road network, a report has found.

The length of motorways in Europe grew 60% between 1995 and 2020 while railways shrank 6.5%, according to research from the German thinktanks Wuppertal Institute and T3 Transportation. For every €1 governments spent building railways, they spent €1.6 building roads.

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Football fans received 11,000 gambling messages in Premier League opening weekend

Study for 5 News warns of ‘overwhelming and inescapable’ betting imagery in the game

Football fans were bombarded with 11,000 gambling messages during the opening weekend of the latest Premier League season, according to a study that warns of “overwhelming and inescapable” betting imagery in the game.

Clubs in the top flight agreed earlier this year to ban gambling firms from sponsoring the front of players’ shirts from 2025, but the research – which analysed social media posts alongside hours of TV and radio – cast doubt on the likely effect of that measure, given the saturation of football with other gambling messages.

the sheer volume of gambling messages;

social media content not clearly labelled as ads; and

insufficient safer gambling messaging.

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UK manufacturers cut hiring plans amid ‘sharp slowdown’, survey finds

Firms preparing for difficult year as ‘potent cocktail’ of difficulties takes hold, says industry lobby group

UK manufacturers are cutting their recruitment plans after being hit by a slowdown in orders as a downturn looms, a new survey shows.

Britain’s manufacturers are “battening down the hatches” amid a sharp drop in activity, according to the latest quarterly data from Make UK, which represents manufacturers, and the business advisory firm BDO.

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Proportion of UK house sellers cutting asking price reaches ‘highest in over a decade’

More than 36% of properties have had asking price cut at least once — the highest figure since 2011

UK house sellers are cutting their asking prices at the fastest rate in more than a decade, after high interest rates dampened demand for property this summer.

The proportion of homes on the market which have had at least one price reduction is at its highest level since January 2011, the property website Rightmove has reported.

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Evergrande arrests: China police detain staff at property giant’s wealth management arm

Police do not list charges against arrested workers but urge public to report any suspected fraud

Police in China have arrested several employees at a subsidiary of Evergrande, the troubled property giant that is struggling under debts running into the hundreds of billions of dollars.

Employees at Evergrande’s financial subsidiary, Evergrande Wealth Management, were arrested, police in the southern city of Shenzhen said in a statement, without specifying the number of employees or the charges against them.

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Key ‘Bidenomics’ architect calls for spending ‘race to the top’ on green tech

Biden adviser Heather Boushey urges UK and Europe to increase climate friendly investment to reboot growth

Governments around the world must drastically increase public investment in green technologies to combat global heating and drive sustainable economic growth, a top adviser to President Joe Biden has said.

Heather Boushey, a member of the White House council of economic advisers, said countries including the UK needed to ramp up green investment to reboot economic growth, boost energy security, and protect against future inflation shocks.

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