Trump tariffs would halve UK growth and push up prices, says thinktank

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NIESR warns British economy would be one of the worst affected by protectionist policies

UK growth is likely to be halved by Donald Trump’s victory in the US presidential race if goes on to impose the swingeing new tariffs he has threatened, a leading thinktank has warned.

The National Institute of Economic and Social Research (NIESR) said the protectionist measures planned by the Republican challenger for the White House would result in weaker activity, rising inflation and higher interest rates from the Bank of England.

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Inflation pain helped secure Trump win but his policies mean higher prices

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Markets expect his policy package to harm trade and growth but reduce business taxes

Higher share prices. A stronger dollar. A less rapid pace of interest rate cuts. The financial market reaction to Donald Trump’s return to the White House was swift and predictable.

The man who will become his country’s 47th president has made no secret of what he plans to do: cut taxes, impose heavy tariffs on imported goods, place curbs on migration, and slash red tape.

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Donald Trump elected US president in stunning political resurrection

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Former president defeats Kamala Harris as voters send Republican back to White House for second term

Donald Trump has been elected the 47th president of the United States in a stunning political resurrection that sent shockwaves through America and around the world.

Trump becomes the first convicted criminal to win the White House. At 78 he is also the oldest person ever elected to the office.

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It’s not official yet but Mount Fuji gets its trademark snowcap after the longest delay in 130 years – The Associated Press

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  1. It's not official yet but Mount Fuji gets its trademark snowcap after the longest delay in 130 years  The Associated Press
  2. Japan’s Mount Fuji Gets Snow After Breaking Snowless Record  The New York Times
  3. First snow of winter arrives on Japan's Mount Fuji five weeks late  UPI News
  4. Shocking View Of Mount Fuji  The Weather Channel
  5. Mt. Fuji gets season's 1st snowcap, latest ever  Kyodo News Plus
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Australia’s conservatives praise Trump’s ‘self-belief’ as PM welcomes likely US counterpart

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Anthony Albanese, Peter Dutton, Tony Abbott and Scott Morrison offer congratulations as Adam Bandt criticises ‘dangerous demagogue’ and calls on PM to cancel Aukus

The Australian government is bracing for foreign policy turbulence with Donald Trump’s likely election as US president throwing the defence of Ukraine, Taiwan and combatting the climate crisis into doubt.

Although Kamala Harris is yet to concede defeat in the election, several networks have called the key swing state of Pennsylvania for Trump, and world leaders have moved to acknowledge their new counterpart. The Australian prime minister, Anthony Albanese, released a statement on Wednesday evening local time to congratulate him “on his election victory”.

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Manufacturer of Tasmanian jumping castle in which six children died unclear on how many pegs supplied, court hears

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Operator of company that set up equipment at Devonport school accused of only using four pegs to secure jumping castle instead of eight

Chinese manufacturers of a jumping castle that became airborne, killing six children, have been unable to detail how many pegs are usually supplied with the inflatable equipment.

Chace Harrison, Jalailah Jayne-Maree Jones, Zane Mellor, Addison Stewart, Jye Sheehan and Peter Dodt died during end-of-year celebrations in 2021 at Hillcrest primary school in Devonport.

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Wall Street and bitcoin soar to record highs as Trump wins US election

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Dollar up and renewable energy stocks down, while shares in president-elect’s media business rise by more than a third

Wall Street and bitcoin rallied to fresh record highs and the dollar soared after Donald Trump’s victory in the US presidential election, while renewable energy stocks fell.

Trump was declared the winner on Wednesday morning after securing the 270 electoral votes needed to take the presidency.

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Tanya Plibersek was rebuked by NSW minister for decision to block $900m goldmine, documents reveal

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Courtney Houssos says proposed mine would create 860 jobs over its 15-year life and inject $67m annually into local economy

The New South Wales resources minister rebuked the federal environment minister over her decision to block the McPhillamys goldmine project and declared Indigenous heritage shouldn’t be protected at the expense of critical minerals investment, new documents have revealed.

Correspondence tabled in federal parliament shows NSW minister, Courtney Houssos, wrote to Tanya Plibersek in August, five days after Plibersek announced she had refused Regis Resources’ mining application because of the proposed location of a tailings dam and its possible impact on Indigenous heritage.

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Bridget McKenzie updates register and apologises after failing to declare 16 flight upgrades

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Shadow transport spokesperson belatedly discloses Qantas and Virgin upgrades after it was revealed she failed to declare offers of better seats

Bridget McKenzie did not declare 16 flight upgrades received over the last nine years, with the Nationals senator apologising and belatedly updating her official register of interests to disclose numerous instances of business class travel which had not been declared as per parliamentary rules.

Two instances were in July and August this year, just a few months before the shadow transport spokesperson claimed to have never been offered a single upgrade on a Qantas flight. Another five upgrades were on personal flights between Australia and New Zealand, including four in 2018 while she was a cabinet minister.

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North Korea’s involvement in Ukraine draws China into a delicate balancing act

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The entry of North Korean troops risks a dangerous escalation in the Russia-Ukraine conflict. It also puts Beijing in a tight spot

In October 1950, barely a year after the Chinese civil war ended, Mao Zedong sent the first Chinese soldiers to fight in the Korean war. Between 180,000 and 400,000 of Chairman Mao’s troops would die in that conflict, including his own son. But it was important to defend North Korea in that battle, Mao reportedly said, because “without the lips, the teeth are cold”.

That Chinese idiom has been used to described China and North Korea’s close relationship for more than seven decades. China sees North Korea as a strategic security buffer in the region, while North Korea relies on its superpower neighbour for economic, political and military support. But that relationship is now under strain thanks to another war which is drawing Communist-rooted countries into a common battle.

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Heatwave sweeps across large parts of Australia as bushfire threatens Queensland border town

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Weather warnings across multiple states on Wednesday as Dirranbandi residents told to evacuate

A heat warning is in place for large parts of Queensland on Wednesday with temperatures hitting 40C in parts of the state.

The Bureau of Meteorology issued a heatwave warning for much of the state, forecasting severe conditions around north-west and inland areas.

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Snow seen on Mount Fuji after record time without snowcap – The Japan Times

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  1. Snow seen on Mount Fuji after record time without snowcap  The Japan Times
  2. Japan’s Mount Fuji Gets Snow After Breaking Snowless Record  The New York Times
  3. Mount Fuji finally gets its first snow, a month later than last year  NBC News
  4. It's not official yet but Mount Fuji gets its trademark snowcap after the longest delay in 130 years  The Associated Press
  5. New record achieved for Mt. Fuji and why it matters  ABC News
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Clashes over budget could push Germany’s ailing coalition to collapse

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With contradictory proposals unlikely to mesh, leaders to decide whether there is scope for alliance to continue

When, in 2021, Olaf Scholz’s Social Democrats went into a “traffic light” coalition with the Greens and pro-business Free Democrats, the new government was riding high on an enthusiastic spirit of cooperation.

There were promises to modernise, reinvigorate and green-proof Europe’s largest economy. Germany, the coalition partners said, had sleep-walked into a complacent state during 16 years of rule under Angela Merkel. The new trio in power would jolt the country out of its hubris, and deliver it into a new era of vigour and creative transformation. That, at least, was the idea.

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