This Month
Why ‘VIP dining rooms’ could sink Trump’s foe Powell
An over-budget renovation may finally provide the excuse the president needs to oust the Federal Reserve chairman.
![Anthony Albanese: “We had a very clear position that we want the [Darwin] port to go into Australian ownership”.](https://static.ffx.io/images/$zoom_0.2438%2C$multiply_3%2C$ratio_1.777778%2C$width_1059%2C$x_0%2C$y_177/t_crop_custom/c_scale%2Cw_280%2Cq_52%2Cf_auto/059060770e0855fb855882a0d7b19c811d493650)
PM stares down China retaliation threat over Darwin Port sale
Anthony Albanese has doubled down on an election promise to force the Chinese owners to sell Darwin Port despite warnings Beijing may hit back.
Elon Musk says he’s formed the ‘America Party’
The billionaire Tesla CEO made the announcement on his X network after posting the results of a poll on the platform that he said showed support for his idea.
Magic math got Trump’s bill through, but it won’t make debt vanish
The way the tax cut and spending package was rammed through Congress has rightly alarmed sensible budget watchers, who say the debt trajectory is unsustainable.
Is Trump’s ‘big beautiful bill’ a political curse for Republicans?
Polling has shown the bill is largely unpopular because of provisions that would extend tax cuts for the wealthy while slashing healthcare and social programs.
Trump’s tax bill passes US Senate as Republicans notch major win
Vice President J.D. Vance cast the tie-breaking vote on the $5 trillion tax and spending cut bill, which now will return to the House for a final vote.
June
Republicans split by competing demands as Trump tax bill hits Senate
The president is closely watching the talks, and has been quick to issue a harsh social media broadside to anyone who criticises his signature legislation.
Trump’s sweeping tax-cut, spending bill clears first Senate hurdle
Lawmakers voted 51-49 to open debate on the 940-page mega-bill, with two Republicans joining Democrats to oppose the legislation.
Musk wades back into politics, slamming Trump’s domestic policy bill
The billionaire CEO of Tesla and SpaceX had been relatively quiet since his blowup with the president this month, but has re-entered amid Senate deliberations.
US Treasury close to deal to make ‘revenge tax’ irrelevant
Republicans are weighing whether to pull the controversial tax provision as it nears a deal with European nations and other countries on an alternative.
Chalmers urges Bessent to reconsider ‘revenge tax’ on super funds
The proposal would allow the Trump administration to raise taxes on countries deemed to levy discriminatory taxes against American firms.
Executives converge on Washington to halt Trump’s foreign investment tax
A provision in the budget bill would allow the US to impose additional taxes on companies and investors from countries that it deems to have punitive tax policies.
Why the Musk-Trump meltdown was all about money
The rift was always going to happen, but it was still spectacular and according to the president was about the Tesla CEO losing EV subsidies in his new bill.
Tesla loses $235b in market value in a day
The US president and the billionaire’s relationship blew up on social media, triggering a sharp sell-off in the EV car maker’s shares.
‘A disgusting abomination’: Musk blasts Trump tax bill
The billionaire said that Republicans who voted for what he called the “massive, outrageous, pork-filled Congressional spending” proposal should be ashamed.
May
Musk exits Trump administration with his business empire in turmoil
The move comes shortly after the billionaire criticised Donald Trump’s “big beautiful bill” as not doing enough to reduce federal deficits.
Ex-McKinsey partner jailed for destroying documents
The consultant had deleted records involving McKinsey’s role in pushing OxyContin sales and driving the opioid crisis.
Trump tax bill holdouts lured with Medicaid cuts, new concession cap
The US president’s “big, beautiful” bill would extend his signature 2017 tax cuts and create new breaks, raising fresh investor concern about America’s debt levels.
Joe Biden ‘didn’t recognise’ friend George Clooney, new book says
The book promises explosive details on the former US president’s mental and physical decline while in office and how his aides and top Democrats handled it.
Liberals implode but Labor’s hardest test to come
Not even a Paul Keating spray can deflect Labor’s euphoria over its extraordinary win. What Anthony Albanese will do with that in government is much less secure.