China has announced its first target to cut emissions in real terms. What does it mean for Australia?

With China accounting for nearly a third of the world’s total emissions, any cuts it achieves will make a substantial difference for the world – and for fossil fuel exports

Anything China does on energy and climate change is very big news. Its plans ripple around the world, whether that’s in changing the demand for fossil fuels or affecting the impacts on the planet from global heating.

On Thursday, Australia woke to the news that China’s president, Xi Jinping, had told the United Nations that for the first time his country was setting a target to cut – in absolute terms – its greenhouse gas emissions.

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Australia news live: Albanese heads to Trump reception in New York; number of regular gamblers rising

US president berates Australia and others for recognising Palestine, but agrees to Albanese meeting in October. Follow today’s news live

Albanese to make case for US capital to flow to Australian economy

Anthony Albanese and Australia’s ambassador to Washington, Kevin Rudd, are preparing to attend a major investment event in New York in the next few hours.

American capital and Australian manufacturing are a natural fit. And if we move now, we can make them an unbeatable combination. We can put our investment partnership at the centre of a defining global opportunity.

The world’s shift to clean energy represents the biggest change since the industrial revolution. We are looking at ever-increasing global demand for clean energy and the technology that generates and stores it.

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Months before triple zero failure, Optus claimed that giving live updates on outages would impose ‘huge burden’

Telco had resisted new rules that will require greater sharing of information with authorities during outages

Optus claimed it would face a “huge burden” in having to provide real-time updates on emergency call outages to emergency services and the government, just five months before four people died during an Optus triple zero outage.

A 12.30am network firewall upgrade on Thursday last week blocked emergency service calls for Optus customers in South Australia, Western Australia, the Northern Territory and parts of New South Wales, with more than 600 calls not able to connect in the 13 hours it was offline.

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London homes 500 metres from station ‘command £42,700 premium over those 1,500 metres away’

Nationwide survey in London, Manchester and Glasgow shows pandemic trends may be reversing as more people return to office

People buying homes in London 500 metres from a tube or railway station pay £42,700 more than buyers of similar properties 1,500 metres away from transport hubs, according to new data.

The figures indicate that despite the reshaping of the housing market sparked by the coronavirus pandemic and dramatic changes to working patterns, the traditional estate agent mantra of “good transport links” continues to wield its power over buyers.

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Optus will face ‘significant consequences’ for triple zero failure linked to deaths, minister says

Communications minister Anika Wells says telco has ‘no excuses here’ after last week’s outage linked to three deaths across two states

The federal government has promised Optus will “suffer significant consequences” after multiple deaths were recorded during the telco’s triple zero outage, with major financial penalties likely.

The communications regulator said it wasn’t informed of the outage by Optus until hours after it had been resolved – and that the company had provided “inaccurate” information.

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Disruption continues at Heathrow, Brussels and Berlin airports after cyber-attack

Zaventem asks airlines to cancel half of Monday departures, while most of Heathrow flights expected to operate

Hundreds of thousands of passengers at Heathrow and Berlin airports faced flight delays on Sunday after a cyber-attack hit check-in desk software, while cancellations at Brussels airport suggested that disruption of Europe’s air travel would continue into Monday.

Airlines were forced to revert to slower manual check-ins from Friday night after the attack hit Collins Aerospace, which provides check-in desk technology to various airlines.

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Wealth tax would be deadly for French economy, says Europe’s richest man

LVMH owner Bernard Arnault, who could take €1bn hit, says proposed 2% levy ‘aims to destroy liberal economy’

Europe’s richest man, the luxury goods magnate Bernard Arnault, has said that a wealth tax that could cost him more than €1bn (£817m) would be deadly for France’s economy.

The French founder of LVMH Moët Hennessy Louis Vuitton said in a statement to the Sunday Times that calls for a 2% wealth tax on all assets “aims to destroy the liberal economy, the only one that works for the good of all”.

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Optus CEO says ‘compulsory escalation process’ for reports of triple-zero failures to be introduced – as it happened

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Low tariffs not dependent on sit-down meeting with Trump, Bowen says

On the potential for a meeting between Anthony Albanese and Donald Trump, Bowen has poured cold water on whether any charm offensive by the Australian PM might have turned the US from its present course.

There are plenty of world leaders who have met with Donald Trump who haven’t had good outcomes, who have got very high tariffs. Who have come over, had meetings, left optimistic and then they’ve got high tariffs. The way Anthony Albanese has managed the relationship, we have the world’s lowest tariff on Australia.

Results matter, David. Of course, the prime minister has made it clear he’s very happy to meet, but results matter. And this prime minister and this foreign minister and this government have delivered pretty good results when it comes to the bilateral relationship.

It’s not my place to announce these things, David. I’m a humble cabinet minister.

Of course a meeting with the president is always a good thing. But I’ll tell you what’s even more important is results. I’d much rather Anthony Albanese get a great result for our economy with the world’s lowest tariff without a meeting, than to have a meeting and get the opposite result, which is what many other world leaders have found themselves in that situation.

Well, we obviously have set Australia’s foreign policy based on our interests and our values. And while everyone is entitled to their views, we will determine Australian foreign policy, not anyone else. And we’ve determined a couple of things – that the time is right, in concert, as you said, with like-minded states.

We have been waiting 80 years for a two-state solution, and that we now see recognising Palestine as a step towards a two-state solution, not the result of negotiations.

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‘Abhorrent behaviour’: calls for Optus to face stiff penalties after triple-zero outage deaths

Senior politicians condemn telco, with Coalition urging broader investigation into emergency network ahead of bushfire season

Pressure is mounting on the Albanese government to ensure stiff penalties for Optus over the service outage that has now been linked to at least four deaths, as the federal minister for emergency management blasted the telco as “absolutely disgraceful”.

A botched firewall update at 12.30am on Thursday blocked hundreds of calls to triple zero in South Australia, Western Australia and the Northern Territory.

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Rachel Reeves due to appear at gambling lobbyist’s event amid tax review

Chancellor’s invitation criticised as ‘strange timing’ with Treasury looking at whether to raise duties on £12bn sector

The chancellor, Rachel Reeves, has been urged to cancel plans to be the guest of honour at an event hosted by the chief lobbyist of the gambling industry while the Treasury is in the midst of a review of taxes on the £12bn sector.

Reeves is slated to appear at a “private reception” for business leaders, organised by the corporate communications company Brunswick, at the forthcoming Labour party conference in Liverpool.

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BHP blames ‘coal tax’ for job layoffs. But there’s obvious reasons coalmines aren’t as profitable anymore

Rising wages and costs of having to dig deeper for minerals – not royalty payments – are behind job cuts in a sector that appears to be in decline

Australia’s big miners are not averse to a political fight.

Consider the biggest miner of them all: BHP.

Jonathan Barrett is business editor of Guardian Australia

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Trump says Xi Jinping has agreed to approve TikTok deal, but details unclear

Trump’s statement suggests preliminary agreement between leaders in the first direct contact between them since June

Donald Trump said on Friday that he and Xi Jinping had agreed to approve a deal over TikTok.

“He approved the TikTok deal,” Trump said about Xi to reporters in the Oval Office, suggesting the leaders signed off on a preliminary agreement. But Trump offered no details about the agreement or when it would be signed.

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Train named Ctrl Alt Deleaf to help blast billions of leaves from Great Britain’s tracks

Network Rail says train named after public vote will join fleet of ‘unsung hero’ leaf-busters this autumn

If Boaty McBoatface taught us one thing, it’s that the public do not take a naming ceremony particularly seriously.

Cue the newly named leaf-removal train: Ctrl Alt Deleaf.

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Retail sales rise in Great Britain as warm weather boosts clothing purchases

Increase of 0.5% in August helped by back-to-school shopping, while food stores also given lift

Back-to-school shopping and warm weather helped to boost retail sales last month, according to the latest official data.

Total retail sales in Great Britain rose 0.5%, the Office for National Statistics (ONS) said, as parents prepared for the new school year and shoppers enjoyed a series of heatwave and the summer’s last bank holiday.

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Chip giant Nvidia to take $5bn stake in Intel and collaborate on products

Deal gives Intel a lifeline as firms team up on AI data centers and PC chips after Trump stake sparks market surge

Nvidia, the world’s leading chipmaker, announced plans to invest $5bn in Intel and collaborate with the struggling semiconductor company on products.

One month after the Trump administration confirmed it had taken a 10% stake in Intel – the latest extraordinary intervention by the White House in corporate America – Nvidia said it would team up with the firm to work on custom data centers that form the backbone of artificial intelligence (AI) infrastructure, as well as personal computer products.

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Trump and Starmer sign ‘tech prosperity deal’ as PM claims new US-UK investments ‘break all records’ – UK politics live

Starmer says deals worth £250bn are ‘flowing both ways across the Atlantic’

President Trump is now leaving Windsor Castle. He will be flying to Chequers by helicopter.

Volodymyr Zelenskyy, the Ukrainian president, has thanked King Charles for what he said at the state banquet last night strongly supporting the Ukrainian cause.

I extend my deepest thanks to His Majesty King Charles III @RoyalFamily for his steadfast support. Ukraine greatly values the United Kingdom’s unwavering and principled stance.

When tyranny threatens Europe once again, we must all hold firm, and Britain continues to lead in defending freedom on many fronts. Together, we have achieved a lot, and with the support of freedom-loving nations—the UK, our European partners, and the US—we continue to defend values and protect lives. We are united in our efforts to make diplomacy work and secure lasting peace for the European continent.

Our countries have the closest defence, security and intelligence relationship ever known. In two world wars, we fought together to defeat the forces of tyranny.

Today, as tyranny once again threatens Europe, we and our allies stand together in support of Ukraine, to deter aggression and secure peace. And our Aukus submarine partnership, with Australia, sets the benchmark for innovative and vital collaboration.

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Taxpayers lose £400m as result of investment fund set up by Rishi Sunak

Report shows 334 companies backed by Future Fund, set up in May 2020 by then chancellor, have since gone under

UK taxpayers have lost £400m following the collapse of hundreds of startups backed by a heavily criticised Covid-era investment fund launched by Rishi Sunak when he was chancellor.

The Future Fund spent £1.14bn backing 1,190 companies, some of them of types not usually associated with government portfolios such as the sex party organiser Killing Kittens and the now defunct festival tickets business Pollen.

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Federal Reserve cuts interest rates by a quarter point, for first time in nearly a year – as it happened

Rates now stand at a range of 4% to 4.25% as reduction comes amid concern of political pressure on independent central bank from Trump

A reporter asked Jerome Powell about Stephen Miran’s appointment, specifically on the fact that Miran is the first Fed governor to also have a role in the executive branch while also serving on the Fed board. Miran is the chair of the Council of Economic Advisors.

“The committee remains united in pursuing our dual mandate goals,” Powell said in response. “We’re strongly committed to maintaining our independence and beyond that, I really don’t have anything to share.”

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US treasury secretary reportedly made similar mortgage pledge to Lisa Cook

Bloomberg reports Scott Bessent agreed to occupy two different houses at same time as his ‘principal residence’

Scott Bessent, the US treasury secretary, previously agreed to occupy two different houses at the same time as his “principal residence”, Bloomberg News reported on Wednesday, an agreement similar to one Donald Trump has called mortgage fraud in his unprecedented bid to fire the Federal Reserve governor Lisa Cook.

The Bloomberg report cites Bessent’s mortgages with lender Bank of America and his pledge in 2007 to primarily occupy homes in New York and Massachusetts.

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Queensland deputy premier labels BHP ‘unAustralian’ as mining giant blames job cuts on coal royalties scheme

Jarrod Bleijie defends levy as BHP Mitsubishi Alliance moves to mothball Saraji South mine and slash 750 jobs

Queensland’s deputy premier has labelled BHP “unAustralian” and defended the state’s mining royalties scheme after the mining giant blamed it for its decision to mothball a coalmine and cut hundreds of jobs while also reviewing the future of its training academy.

On Wednesday, BHP Mitsubishi Alliance (BMA) announced a decision to suspend operations at its Saraji South coalmine and slash 750 roles across the state, blaming “unsustainable” royalties and market conditions.

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