America’s allies and adversaries alike were pinning their hopes on Vance to find a way out of a conflict that has upended the global economy. Instead, he left with nothing.
Markets reacted quickly to US President Donald Trump’s blockade threat, with oil prices spiking and the ASX falling amid fears of global supply disruption.
The federal budget will be billions of dollars better off, even with added spending, because of higher commodity prices and inflation, a top economist says.
Prime Minister Anthony Albanese will turn to one of the world’s wealthiest people as his government works to shore up critical supplies of fuel and fertiliser during the deepening oil crisis.
The Australian Federal Police is facing calls to ‘explain’ the rationale for the way it arrested the country’s most decorated war veteran Ben Roberts-Smith.