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New prime minister says Solomon Islands will review its secretive security treaty with China

New prime minister says Solomon Islands will review its secretive security treaty with China

The Solomon Islands' new leader says the country will review its secretive security treaty with China

Meta accuses Australia of breaching FTA, invokes US 'trade action'

Meta accuses Australia of breaching FTA, invokes US 'trade action'

SYDNEY, June 4 (Reuters) - Meta accused Australia of violating a free trade agreement with the U.S. by proposing a new tax on certain tech giants which do not strike licensing deals with local media, escalating a dispute which has simmered for half a decade.

Australia's Mineral Exploration Sees Significant Growth in Early 2026

Australia's Mineral Exploration Sees Significant Growth in Early 2026

Australia's mineral exploration expenditure increased by 16.3% in Q1 2026 compared to the previous year, driven by investments in gold and silver. The Australian Bureau of Statistics reports a rise in drilling activity, particularly in brownfields exploration. Despite this growth, concerns loom over potential impacts from proposed capital gains tax changes in the federal budget. The Association of Mining and Exploration Companies highlights the need for industry consultation to address these challenges.

U.S. and Australia Finalize Submarine Agreement Amid AUKUS Tensions

U.S. and Australia Finalize Submarine Agreement Amid AUKUS Tensions

The United States and Australia have finalized an agreement to provide Australia with three second-hand Virginia-class submarines, following 18 months of negotiations. This development was disclosed during a Senate estimates hearing, where senior defense officials revealed that discussions with Washington began early last year. The agreement marks a significant change to the AUKUS submarine pathway, initially unveiled in 2023. The revised arrangement replaces the previous plan of acquiring two second-hand vessels and one newly-built submarine. The Australian government argues that the new deal will simplify maintenance, training, and operations, as all three submarines will be nearly identical. However, the changes have sparked internal debate within Australia's Labor Party, with some members questioning the pact's future.

Florida Lawmakers Approve DeSantis Property Tax Cut Plan, Excluding Schools

Florida Lawmakers Approve DeSantis Property Tax Cut Plan, Excluding Schools

Florida lawmakers have passed a revised version of Governor Ron DeSantis's proposal to reduce property taxes, excluding local school districts from the plan. The Florida House and Senate approved joint resolutions that will allow voters to decide on the tax cuts through a constitutional amendment in the upcoming November election. The proposal aims to increase the homestead exemption from $50,000 to $150,000 in 2027, and further to $250,000 in 2028, with adjustments for inflation thereafter. This change could potentially reduce property taxes for the average Florida homeowner by approximately $1,000 by 2028. However, critics argue that local governments may compensate for lost revenue by increasing fees and sales taxes, potentially diminishing the fiscal benefits for homeowners.

Australia's home prices flatline in May after record run, headwinds gather

Australia's home prices flatline in May after record run, headwinds gather

SYDNEY, June 1 (Reuters) - Australia's home prices flatlined in May as higher borrowing costs, the Middle East conflict and planned tax changes pushed prices in Sydney and Melbourne into sharp declines, data from Cotality showed on Monday.

Australia's far-right party leads in national poll for first time

Australia's far-right party leads in national poll for first time

SYDNEY, June 1 (Reuters) - Australia's far-right populist party One Nation overtook the ruling Labor party in a national opinion poll for the first time, buoyed by voter discontent over the centre-left government's recent budget measures.

Australia lifts minimum wage to match increases in inflation

Australia lifts minimum wage to match increases in inflation

SYDNEY, June 2 (Reuters) - Australia's independent wage-setting body said on Tuesday that the country's lowest-paid workers will get a 4.75% pay rise from July, roughly in line with an expected rise in inflation projected by the central bank.

Tesla withdraws termination notice on graphite supply deal with Australia's Syrah

Tesla withdraws termination notice on graphite supply deal with Australia's Syrah

June 1 (Reuters) - Australia's Syrah Resources said on Monday Tesla had withdrawn a notice of intent to terminate a graphite supply deal, ending months of negotiations that saw the two companies extend a resolution deadline four times.

Australia's CBA flags surging AI costs as tasks grow complex, slams 'work slop'

Australia's CBA flags surging AI costs as tasks grow complex, slams 'work slop'

SYDNEY, June 2 (Reuters) - The cost of using AI will rise in less predictable ways as companies deploy the technology for complex tasks, the head of Australia's biggest bank said on Tuesday, calling the expense a key emerging management challenge.

Australian competition regulator tells Amazon, eBay to pull risky magnetic toys

Australian competition regulator tells Amazon, eBay to pull risky magnetic toys

June 2 (Reuters) - Australia's competition watchdog said on Tuesday it had issued takedown requests to Amazon, eBay, Kogan, and Fruugo for toys and games containing potentially deadly small magnets, as part of its investigation.

Australia's net trade drags on economy as tech, fuel imports surge

Australia's net trade drags on economy as tech, fuel imports surge

SYDNEY, June 2 (Reuters) - Australia's net trade proved to be a major drag on the economy in the first quarter as imports of data centre equipment and fuel boomed, while government spending added nothing to economic growth.