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Has Labor’s tax reform killed ‘rent-vesting’ for young Australians seeking a foothold in the housing market?
Changes to capital gains tax and negative gearing will make the strategy of renting in a preferred area while buying a cheaper property elsewhere less attractive, experts sayExplore all of our 2026 Australia federal budget coverageFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastRent-vesting – a popular strategy used by young Australians to save for their first home – could be killed off by Labor’s tax changes on investment properti...
Why budget rhetoric won’t match reality for many younger Australians
Figures show the treasurer’s reforms will make the tax system fairer but some will not have the advantages enjoyed by their parents As Jim Chalmers was doing the round of the parliamentary press gallery on Tuesday, he was encouraging journalists to see the tax reforms in the budget as the most ambitious since the turn of the century.The core of the tax package is that instead of paying tax on just half of profits on the sale of investments held for more than a year, we will return to the pre-19...
Chinese court awards compensation to sacked worker replaced by AI
Case attracts widespread attention as example of China balancing enthusiastic adoption of AI with job securityA court in China has ruled in favour of a worker whose company replaced him with artificial intelligence (AI), awarding him more than £28,000 in compensation.The worker, whose surname is Zhou, joined a tech company in the eastern city of Hangzhou in 2022 to work as a quality assurance supervisor overseeing large language models used in AI products. Continue reading...
VinFast restructures Vietnam operations to speed profitability
VinFast restructures Vietnam operations to speed profitability
ADGM draws global financial giants managing $4.4 trillion to establish operations in Abu Dhabi
Abu Dhabi Global Market (ADGM) concluded a highly successful participation at the 2026 Milken Institute Global Conference, held in Los Angeles from May 3 to 6, following a wave of major announcements in April by eight leading global financial firms managing a combined $4.4 trillion in assets, all unveiling plans to establish a presence in the emirate.During the visit, the delegation, led by Ahmed Jasim Al Zaabi, reinforced Abu Dhabi’s growing stature as the “Capital of Capital,” highlighting the...
Trump mega-donors pause Wisconsin development project, citing economic uncertainty
Uline, owned by billionaire Republicans Richard and Liz Uihlein, halts construction of a new facility in KenoshaUline, a business and shipping supplies company owned by billionaire Trump supporters Richard and Elizabeth Uihlein, is pausing the construction of a new distribution facility in Kenosha, Wisconsin, citing economic uncertainty.The construction pause comes in a key battleground state, where Trump won in 2016 and 2024, but lost to Biden in 2020. Continue reading...
Anduril raises $5B, doubles valuation to $61B
Another year, another massive influx of capital for Anduril: the funding round that was rumored to be in process in March has officially closed. Anduril has raised a $5 billion Series H round at a $61 billion valuation, led by returning investors Thrive Capital and Andreessen Horowitz, the company announced Wednesday. This is more than double the valuation it landed just under a year ago, when it raised $2.5 billion at a $30.5 billion valuation led by Founders Fund. (Founder’s Fund invested a $1...
Nvidia Gains on China Trip; Softbank Up on Quarterly Profit Beat | Stock Movers
On this episode of Stock Movers with John Tucker: - Nvidia (NVDA) shares are higher on news CEO Jensen Huang joined US President Donald Trump on his visit to China as a last-minute addition, thrusting AI and technology into the spotlight before a high-stakes Beijing summit. - Nebius Group (NBIS) is moving this morning as it reported revenue for the first quarter that beat the average analyst estimate. - SoftBank (SFTBY) is up after it reported a surge in quarterly profit due to valuation gains...
What are today's mortgage interest rates: May 13, 2026?
MoneyWatch: Managing Your Money What are today's mortgage interest rates: May 13, 2026? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He write...
Russia ready to do business with US if trade is delinked from Ukraine
Russia ready to do business with US if trade is delinked from Ukraine
Skechers Ups Offer to Hedge Funds Challenging Price of 3G Buyout
Skechers USA Inc. increased its offer to resolve a lawsuit brought by hedge funds and other investors challenging 3G Capital’s $9.4 billion purchase of the footwear maker after settlement talks failed last year, according to people familiar with the situation.
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Sharjah Islamic Bank rights issue draws Dh8.3 billion in demand
Dubai: Sharjah Islamic Bank said its Dh2.59 billion rights issue attracted more than Dh8.3 billion in subscriptions, making the offering oversubscribed by more than 3.2 times despite volatile global market conditions.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The bank announced the completion of the capital raise after the subscription period closed on May 8.SIB said the transaction would strengthen its capital position and support its long-term growth pl...
From 4-day work week to higher PF: 11 big changes under the new labour code
From day work week to higher PF big changes under the new labour code
US could cash in on Nord Stream destruction — expert
It will be a very nice and profitable venture for the US, Alexander Ionov said
Commonwealth Bank suffers its biggest share plunge on record in $25billion bloodbath following Budget - and other banks could follow
Commonwealth Bank suffers its biggest share plunge on record in $25billion bloodbath following Budget - and other banks could followBanks recorded share value dropsCommbank had its worst ever fallREAD MORE: Anthony Albanese admits to using negative gearing By ASHLEY NICKEL, NEWS REPORTER, AUSTRALIA and AAP Published: 15:19, 13 May 2026 | Updated: 15:22, 13 May 2026 e-mail View comments
£139 million paid out in Troubles disablement pension scheme
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JPMorgan Reshuffles Investment Bank Leadership
JPMorgan Chase named Dorothee Blessing, Kevin Foley and Jared Kaye as co-heads of its global investment banking business. Katherine Doherty has more on the shakeup on "Bloomberg Open Interest." (Source: Bloomberg)
PE-Owned Insurers Boosting Private Credit Holdings, Study Finds
Life insurance companies owned by private equity firms have quietly reshaped their portfolios, piling into higher-yielding alternative credit in a shift that’s entangled the industry with the broader financial system, according to a study from researchers at the Federal Reserve Bank of Chicago.
Soy Group Won’t Support Bill on Higher Corn-Ethanol Gasoline
The American Soybean Association said it “cannot support” legislation that would expand higher-ethanol gasoline, creating a split with corn farmers who stand to benefit from an expanded biofuels market.