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Australian judge criticises Tesla for 'gobsmacking' slow progress in class action lawsuit

Australian judge criticises Tesla for 'gobsmacking' slow progress in class action lawsuit

By Byron Kaye SYDNEY, May 15 (Reuters) - A judge hearing an Australian class action lawsuit against Tesla on Friday questioned whether the Elon Musk-led automaker was taking the discovery process seriously and warned it could expect "a really bad time" if it failed to cooperate.
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Fortescue Ordered to Pay $150 Million for Yindjibarndi Cultural Loss in Landmark Ruling

Fortescue Ordered to Pay $150 Million for Yindjibarndi Cultural Loss in Landmark Ruling

The Federal Court of Australia has ordered Fortescue Metals Group to pay A$150 million (approximately USD $108.4 million) to the Yindjibarndi Ngurra Aboriginal Corporation. This ruling compensates for cultural loss due to Fortescue's mining operations on Yindjibarndi native title land in the Pilbara region of Western Australia. The court's decision marks a significant precedent in Australian native title law, emphasizing cultural harm as a primary compensable category. The Yindjibarndi People initially sought A$1.8 billion, calculated partly by reference to 1% of the production value from Fortescue's mines. The court, however, did not adopt this production-linked formula, instead focusing on the profound and irreparable cultural harm caused by the mining activities.
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Factbox-From Australia to Europe, countries move to curb children's social media access

Factbox-From Australia to Europe, countries move to curb children's social media access

GDANSK, May 13 (Reuters) - Australia in December became the world's first country to ban social media for children under 16, blocking them from platforms including TikTok, Alphabet's YouTube and Meta's Instagram and Facebook.
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Indigenous Australians Secure Record Compensation for Unauthorized Mining

Indigenous Australians Secure Record Compensation for Unauthorized Mining

The Yindjibarndi people of north-western Australia have been awarded a record A$150.1 million in compensation after a court ruled that Fortescue Metals Group, led by billionaire Andrew Forrest, mined their land without permission. This decision marks the largest native title payout in Australian history. The legal battle, which began in 2017, centered on Fortescue's extraction of iron ore from Yindjibarndi land in the Pilbara region, generating significant revenue without the consent of the Yindjibarndi Ngurra Aboriginal Corporation (YNAC). The court recognized the deep cultural and spiritual connection the Yindjibarndi have with their land, awarding compensation for both economic and cultural losses.
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Australian court finds grocery chain Coles misled shoppers in discount lawsuit

Australian court finds grocery chain Coles misled shoppers in discount lawsuit

SYDNEY, May 14 (Reuters) - Australia's No. 2 grocery chain Coles engaged in misleading conduct by increasing the price of hundreds of household items and then advertising discounts that were higher than the original price, a court ruled on Thursday.
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Indigenous Australians Win Record A$150M Compensation for Unauthorized Mining

Indigenous Australians Win Record A$150M Compensation for Unauthorized Mining

The Yindjibarndi people of north-western Australia have been awarded a record A$150.1 million in compensation after a court ruled that Fortescue Metals Group, owned by billionaire Andrew Forrest, mined their land without permission. This verdict marks the largest native title payout in Australian history, concluding a lengthy legal battle over unauthorized mining activities that began in 2013. The compensation covers both economic and cultural losses, acknowledging the deep connection the Yindjibarndi have with their land. The court's decision reflects the growing recognition of cultural and spiritual harm as compensable losses.
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Indigenous Australians Win Historic Compensation in Mining Dispute

Indigenous Australians Win Historic Compensation in Mining Dispute

An Australian court has ordered Fortescue Metals Group to pay over Aus$150 million ($108 million) in compensation to the Yindjibarndi people for mining on their traditional lands in Western Australia's Pilbara region. This decision marks the largest compensation order in Australian history under native title laws. The court found that Fortescue's mining operations had significantly impacted the Yindjibarndi's cultural heritage, with 124 out of 240 heritage sites destroyed. The compensation includes Aus$100,000 for the land's freehold value and Aus$150 million for cultural loss.
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Factbox-Australia unveils changes to negative gearing, capital gains tax

Factbox-Australia unveils changes to negative gearing, capital gains tax

SYDNEY, May 12 (Reuters) - Australia's centre-left Labor government will pare tax breaks for landlords to level the playing field for young Australians to own a home, in the biggest housing tax changes this century.
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Trump Organization drops plan for first Australian skyscraper, blames partner

Trump Organization drops plan for first Australian skyscraper, blames partner

SYDNEY, May 13 (Reuters) - The Trump Organization said on Wednesday it abandoned a plan to build its first tower in Australia less than three months after signing the deal, citing an Australian partner's failure to meet certain financial obligations.
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Australia's tax reforms expected to knock some heat out of housing

Australia's tax reforms expected to knock some heat out of housing

SYDNEY, May 12 (Reuters) - Australia's government expects its ambitious reforms to the way it taxes property investments to take some of the immediate heat out of one of the world's least affordable housing markets.
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US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

By Kanishka Singh WASHINGTON, May 11 (Reuters) - U.S. Secretary of State Marco Rubio held separate calls with his Australian and British counterparts on Monday to discuss Iran and the Strait of Hormuz, the State Department said.
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ASX Explorers Face Funding Challenges Amid Selective Capital Cycle

ASX Explorers Face Funding Challenges Amid Selective Capital Cycle

ASX Explorers Face Funding Challenges Amid Selective Capital Cycle