Indian companies face significant cost volatility due to the prolonged West Asia conflict and emerging El Nino conditions, leading to commodity inflation, rising freight charges, and exchange rate instability. This forces price hikes, squeezing margins, and raising concerns about a potential hit to discretionary consumer demand.
European football associations are planning to withdraw their letters of support for FIFA President Gianni Infantino's re-election, increasing pressure on him to resign. This follows the collapse of his World Cup scheme and widespread discontent, with announcements of formal withdrawals expected soon.
Australia's Morning Mail covers significant news including falling house prices, concerns over First Nations deaths in custody, and the start of Alan Jones' trial. International news features the Middle East crisis and wildfire tragedies.
India faces a severe youth unemployment crisis as millions of graduates struggle to find quality jobs despite robust economic growth. This mismatch between education and employment is fueling widespread discontent and protests.
Australia's housing downturn is spreading beyond major cities, with national property prices falling 0.7% in July, the largest monthly decline since Dec 2022. Brisbane and Adelaide also saw declines, while Perth and Darwin had modest increases. Experts link the trend to interest rate hikes and policy changes, with potential for further falls.
Spokane residents face urgent Level 3 evacuations due to rapidly moving wildfires, including the Old Trails Fire, burning over 3,500 acres. Washington state declared an emergency, mobilizing the National Guard, as strong winds and drought fuel multiple blazes, affecting thousands with power outages.
Gale-force winds intensified wildfires in Greece's Attica region, forcing new evacuations near Megara and Porto Germeno. Meanwhile, France's massive Gironde megafire remained contained but active, with thousands displaced, while Spain's major blazes finally stopped advancing, highlighting Europe's climate crisis.
Australian house prices have fallen in Brisbane, Adelaide, and Perth, with national median prices down $19,000 since March, according to Cotality data. The downturn, linked to RBA interest rate hikes and reduced investor tax concessions, has led to decreased home loan applications, though the RBA expects the market to stabilize.
The 59th ASEAN Foreign Ministers’ Meeting in Manila provided a rare neutral platform for major powers like the US, China, and Russia to engage amidst global tensions, reaffirming ASEAN's centrality in regional diplomacy and addressing issues like the South China Sea and energy security.
Iran's negotiating team, citing Fars, denies reports of agreeing to reopen the Strait of Hormuz via Qatari mediation, stating the waterway remains closed due to "hostile US actions." This contradicts earlier Israeli TV reports about a US strike cancellation following such a deal.
A Delhi Police assessment of over 5,000 ATMs revealed widespread security deficiencies, including lack of guards, shutter locks, and CCTV cameras. These gaps increase vulnerability to organized theft gangs, prompting police to direct banks and service providers to tighten security measures.
Citizen scientists in South Australia report increased distress over sick and dying birds, including a mass mortality event of 80 birds near Cape Jaffa, as H5 bird flu spreads among native species. Authorities are investigating, with results expected soon, and the federal government is in talks with the poultry industry.
Flash floods in Weiyuan county, Gansu province, China, have killed 25 people and injured 23. The National Commission for Disaster Prevention has called for an investigation, while the Ministry of Water Resources activated a level 4 emergency flood control response for Heilongjiang and other provinces due to heavy rainfall.
Heavy rains in Kerala, India, on Saturday caused landslides and widespread flooding, resulting in six fatalities and significant property damage. Authorities initiated large-scale rescue operations, established 65 relief camps for 1,465 displaced individuals, and issued severe weather alerts for multiple districts.
French Prime Minister Sebastien Lecornu announced that wildfires across France, including the challenging Gironde department, are now under control thanks to emergency services and improved weather. This follows record fires in Europe, with the EU mobilizing resources through its civil defense mechanism.
FIFA has abandoned its proposal to allow private investors to purchase stakes in major competitions, including World Cups, following fierce opposition from confederations like UEFA, CONCACAF, and AFC, which cited concerns over governance and the commercialization of the sport.
UEFA has strongly criticized FIFA President Gianni Infantino's leadership style, demanding a fundamental review of FIFA's governance despite his U-turn on selling World Cup stakes. Major European FAs, including the FA and DFB, support UEFA, citing a breach of trust and opaque dealings, while Qatar FA backs Infantino.
Over 80 dead and sick greater crested terns on Baudin Rocks, South Australia, are suspected to be the first mass mortality event from H5N1 bird flu in Australia, six weeks after its arrival. Cases in silver gulls and inland terns suggest wider spread, raising concerns for native species.
FIFA President Gianni Infantino announced the scrapping of plans to sell a stake in the World Cup and other events to private investors, following overwhelming global backlash and expressions of no confidence from major football bodies like UEFA and the Dutch FA.
Binance founder Changpeng "CZ" Zhao warned crypto owners about hardware wallet vulnerabilities after a Coldcard exploit drained over $70 million in Bitcoin. A flaw in firmware shipped in March 2021 allowed private keys to be guessed, affecting 1,196 addresses, prompting Coinkite to issue hotfixes.
An interview between Elon Musk and The Economist editor Zanny Minton Beddoes highlighted a clash between traditional journalism and Musk's approach to truth and misinformation, revealing challenges for journalists in an era of AI, fact avoidance, and online aggression.
FIFA has abandoned plans to sell a 20% stake in its events, including the World Cup, after strong opposition from UEFA, CONCACAF, and AFC, as well as internal dissent. President Gianni Infantino cited divisions as the reason for withdrawing the $US4.2 billion proposal.
FIFA defends its plan to allow private investors to acquire stakes in World Cup tournaments, facing strong opposition and boycott threats from UEFA, CONCACAF, and AFC. The proposal, aiming to raise $4.2 billion, would provide significant payments to member associations but is criticized for commercializing the sport.
Liberia is battling a widespread kush crisis, devastating families and disrupting young lives, while authorities uncover large-scale international cocaine trafficking through the country. Despite a public health emergency declaration, limited rehabilitation options and low conviction rates for traffickers highlight systemic challenges.
