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Chancellor Rachel Reeves outside 11 Downing Street with her traditional red box before heading to the House of Commons to deliver her budget speech.

Budget bungle blows UK chancellor’s big day

Rachel Reeves’ new plan is targeting workers and the wealthy. But a gaffe in which key measures were published prematurely stuffed up the sales pitch.

Yesterday

Shadow Treasurer Ted O’Brien addresses the National Press Club in Canberra on November 26, 2025.

Talking about restraint is easy, following through will take courage

Shadow treasurer Ted O’Brien will need to work harder if he is going to show voters the Coalition is the party of strong economic management.

Reform UK Leader Nigel Farage attends a rally in Wales on Monday.

Farage under fire over racist schoolyard ‘banter’

An investigation by the left-wing Guardian newspaper has stoked a debate about whether the possible next Prime Minister of Britain is a racist.

This Month

US President Donald Trump and Chinese President Xi Jinping will have at least two more in-person meetings in 2026.

The one question that makes Trump squirm more than most

The US president made no mention of Taiwan in a call with Xi Jinping. The US has a policy of strategic ambiguity, but Donald Trump takes it to the next level.

Russian President Vladimir Putin chairs the Security Council meeting via video conference at the Kremlin in Moscow, Russia, November 21.

Putin is now getting squeezed. Will he lash out?

Two major hurdles remain in bringing an end to the Russian-Ukraine war – including getting the Russian leader to accept some concessions.

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One of the AI giants will lose (huge). But investors don’t need to

As long as you’re not betting on one particular company or one particular debt offering, relax and enjoy the ride.

A woman visits the graves of Russian soldiers killed in Ukraine at a cemetery in Volzhsky, outside Volgograd. So-called black widows who engage in sham marriages to collect soldiers’ death benefits are now openly discussed on national television.

The black widows chasing ‘coffin money’ in Putin’s war

In an emerging cottage industry, women are tricking soldiers into marriage to get death payouts. It is predatory opportunism exacerbated by the conflict.

How the Best Universities Ranking is created

The Financial Review’s ranking of universities uses traditional measures of excellence alongside student satisfaction and equity data.

Trump is bullying Ukraine into a deal. It just might work

The US president has bludgeoned Ukraine back to the peace table. European leaders are desperate for a look-in. But is peace near?

Beijing began trying to increase usage of the yuan as an international currency after the global financial crisis in 2008, concerned that money-printing by the US and European central banks was devaluing its foreign exchange reserves.

Why China wants to price more iron ore contracts in its own currency

Beijing is using its market power in iron ore to pressure BHP as it moves to expand yuan-based trade and reduce reliance on the US dollar.

FOI documents reveal participants at Treasurer Jim Chalmers’ economic roundtable were warned bracket creep and inconsistent tax on savings were putting the system under pressure.

What’s happened 100 days after Chalmers’ economic roundtable?

The government needs to present a much more substantive policy agenda on deregulation, tax and budget repair to jumpstart productivity and boost Australians’ living standards. 

Vladimir Putin and Donald Trump in Alaska on August 15.

Trump wants a Nobel. His new peace plan hands Putin the prize

The US president’s confidential 28-point scheme to end the invasion has been branded a capitulation of war-weary Ukraine to the Russian leader.

The Liberal Party is facing a leadership crisis. While Sussan Ley rates poorly, Coalition voters don’t really know Andrew Hastie or Angus Taylor.

Why a fight over immigration is not the answer for Sussan Ley

The Coalition is failing to attract Gen Z and Millennial voters, but there are also worrying signs for the government in the latest polling data.

There has undoubtedly been a global vibe shift on climate policy, leading countries and companies to dump emissions reduction targets.

Top economic boffin: ‘Seeds of the next financial crisis being sown’

Australian investors are at risk as the US and China look for disruptive ways to exert leverage over each other’s economy.

The Liberal Party has new leadership, but is it still the same old people pulling the strings?

Liberal women inherit a crisis they will struggle to fix

The party might be headed for a historic outcome, with female leaders in NSW, Victoria and Canberra, but it is still failing to learn from election losses.

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Cloud computing is at an inflection point because of the use of artificial intelligence, the scale of demand for cloud services caused by the internet of things, and the explosion in data analytics.

The smart money has finally found a way to actually short the AI boom

So far, most attempts at betting against artificial intelligence have backfired as Silicon Valley giants have sucked up capital and driven markets higher.

Prime Minister Donald Tusk, second right, visits the site of the rail line sabotage attack.

Putin’s secret sabotage attacks on Europe are not fooling anyone

Russian operatives are suspected of blowing up a rail line in Poland that carries supplies to Ukraine in what experts say is a strategy to sow discord in Europe.

Donald Trump has bowed to pressure from Congress and his MAGA base.

Trump’s Epstein backflip means Republicans avoid this scary question

Before the US president changed his mind, a vote in favour of releasing the files would have earned his wrath. But a vote against would have angered MAGA.

Japan’s new Prime Minister Sanae Takaichi faces her first difficult diplomatic test.

Japan’s ‘Iron Lady’ won over Trump. Now she faces a bigger test

Sanae Takaichi is managing her first real foreign-policy crisis as China ratchets up the pressure in response to her remarks about Taiwan.

Migrant families wade into the sea in an attempt to board a small boat on in Gravelines, France.

Labour gets tough on immigration to stop Farage becoming PM

The UK government is borrowing from hardliners’ political playbook by unveiling a crackdown on would-be immigrants crossing the English Channel.

Original URL: https://www.afr.com/topic/Analysis-1qu