<gu-island name="KeyEventsCarousel" priority="feature" deferuntil="visible" props="{"keyEvents":[{"id":"6540db478f08dbed308c77d3","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Good morning and welcome to our live news blog. I’m Martin Farrer and I’ve got some of our overnight and breaking stories for you before my colleague Emily Wind gets settled in for the day. ","elementId":"5669eb8c-6020-4ee3-89ec-8a46b95d6103"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Our exclusive top story today reveals that ports giant DP World has paid no tax in Australia despite generating revenue of more than $4.5bn over eight years. A new report by the union-backed lobby group Cictar says that DP World’s top Australian subsidiary may have “artificially reduced profits” to…
Tag: Housing
Sunak branded ‘inaction man’ at PMQs as Starmer attacks record on schools, prisons and China – as it happened
From 19h ago Sunak branded ‘inaction man’ at PMQs as Starmer attacks his record on schools, prisons and China Here is the PA Media story on PMQs. Rishi Sunak has been branded “inaction man” by the Labour leader, Keir Starmer, as the government grapples with crumbling schools, Chinese espionage, and a prisoner on the run. Starmer urged the prime minister to call a general election, as he accused the government of failing to heed warnings which led to a series of crises for ministers over the last week. But Sunak…
Top Chinese developer’s financial woes cast shadow over Australian property market
The financial problems of one of China’s biggest property companies, Country Garden, could reverberate in the Australian property market, where its subsidiary Risland Australia is developing two massive housing estates on the fringes of Sydney and Melbourne. Delays in the projects or a corporate failure would have significant impacts on the amount of new housing coming on to the market during a dire affordability crisis. Country Garden Holdings Co’s bonds and shares plunged on Friday after the company failed to make payments on debt instruments it had issued. It now…
Keir Starmer says Labour will prioritise growth which will mean ‘better jobs, public services, holidays and more cash’ – as it happened
From 4h ago Starmer tells BCC why he is prioritising GDP, saying growth is ‘better jobs, public services, holidays, meals out, more cash’ Keir Starmer is addressing the BCC conference now. He starts by talking about growth, and explaining why one of his “missions” for Labour is for the UK to have the highest sustained growth in the G7 in the next parliament. He says: I know what a lot of people in Westminster say about growth. They say it’s an abstract concept, doesn’t resonate, doesn’t connect with peoples’ lives,…
Australia news live: ‘couldn’t think of anything more distressing for victim-survivors’ – Daniel Andrews rules out George Pell state funeral
From 44m ago No state funeral service for George Pell: Victorian premier Benita Kolovos Victoria’s premier, Daniel Andrews, says there will not be a state funeral service for George Pell out of respect for victims of institutional child sexual abuse. Asked if Pell, who died on Wednesday morning AEDT from heart complications arising from hip replacement surgery in Rome, would receive a state-funded service, he replied that he would not: I couldn’t think of anything that would be more distressing for victim-survivors than that. <gu-island name="TweetBlockComponent" deferuntil="visible" props="{"element":{"_type":"model.dotcomrendering.pageElements.TweetBlockElement","html":" Victoria's premier,…
China’s property market is in freefall. What does this mean for the world economy? | Keyu Jin
The property sector in the Chinese economy has always been something of a puzzle. At its peak, it accounted for a quarter of the nation’s economic output, broadly measured. And it sees people in Beijing and Shanghai paying house prices similar to those in San Francisco and New York, despite having just a quarter the income of American buyers. Now many believe that we are about to see a violent contraction of the property market in China. The government wants to intervene to curb speculation, and rein in what it…
Australia news live: NSW flood warnings; Sydney train strike delays; at least 27 Covid deaths recorded
From 5h ago NSW rail union pushes ahead with industrial action Sydney commuters are in for a “very messy day” as the NSW rail union pushes ahead with industrial action that will take out 70% of the train fleet, AAP reports. The Rail, Tram and Bus Union has been locked in long-running stoush with the Perrottet government over a new Korean-made Intercity fleet, which it says is unsafe. While the government has signalled it could be prepared to spend $264m to modify the fleet, the union says it has refused…
Speculation nation: Can Xi Jinping’s property tax deflate China’s housing bubble?
Xi Jinping’s to-do list has seen a lot of ticks in recent months: more flights into Taiwan’s defence zone; suppressing dissenting voices in Hong Kong; clipping the wings of tech barons; outlawing the out-of-school tutoring industry. The list goes on. However, one key initiative – introducing a local property tax – has attracted fewer headlines but is apparently so controversial within China’s ruling Communist party that even Xi is still only able to deal in trial schemes rather than wholesale change. The decision to pilot the tax on all types…