Hate speech laws pass; super's strong results; Nike backs pickleball 

Hate speech laws pass; super's strong results; Nike backs pickleball 

News in brief

The Eraring Power Station in NSW will stay open until April 2029, beyond its previously expected closure in August 2027, partly supported by the state government. While the transition to green energy is ongoing, and home solar has taken off in particular, the challenge of keeping the lights on remain.

 

The federal remuneration tribunal has recommended a crackdown on family travel entitlements after an expenses scandal engulfed the parliament in December.

 

Superannuation funds delivered another strong year in 2025, with the median balanced option returning 8.8 per cent. It was well ahead of the long-term average, 25-year average of 6.6 per cent.

 

Italian fashion designer Valentino Garavani, known as Valentino, has died at the age of 93. One of the giants of 20th Century fashion, his designs were known for displaying luxury, wealth and opulence.

 

Nike has signed a deal with world number 1 pickleball player Anna Leigh Waters, making her the first pickleball athlete to join the famed sportswear roster.

Fear-o-meter

At this point in the political cycle, Opposition Leader Sussan Ley should be doing much better with the electorate. The Prime Minister Anthony Albanese and Labor mishandled the response to the Bondi massacre, the deadliest terror attack in Australia's history, and the worst massacre since Port Arthur 30 years ago. Albanese has looked weak and that’s shown in the opinion polls.

 

But all the infighting has not been in government ranks. It’s been between the Coalition parties, and within the Liberals.

 

Yesterday’s decision by the Nationals to oppose the gun laws and abstain from voting on hate laws would have been much less likely if the Coalition was headed by a strong Liberal Party leader.

 

The problem for Ley is that ever since she was elected as leader, there has been sniping and she has had few opportunities to perform. When she has had a crack, she has mucked it up (Albanese’s Joy Division T-shirt, Penny Wong’s response to the massacre).

 

The two major federal political parties yesterday negotiated a response to the tragedy of Bondi. That it is good outcome for Ley, whether or not you agree with the legislation. Yet she can’t claim a win, because of the infighting among conservative politicians. It is a long way back for Ley and her party to get into the race.

Fear & Greed Q+A today

On what it will take to unlock Australia's growth potential:

 

“There aren’t any quick fixes. What’s needed is a reform agenda that makes the economy more competitive and lowers the cost base. That means a more efficient tax system, a more efficient regulatory environment, and stronger competition. Deregulation should be part of that, including in industrial relations. These are deep structural factors. If we can lower hurdle rates and incentivise business investment and innovation, that’s what leads to higher productivity. Another aspect is public spending. A lot of recent growth has been driven by the public sector. If the economy is operating at full capacity, strong public spending can crowd out private activity. So one option is to slow public spending to make room for private sector expansion. This is a medium-term story, but it’s absolutely critical if we want the economy to grow faster than it is now.”

The federal Coalition has split over the government’s hate speech laws, with the Nationals abstaining from voting on the legislation in the House of Representatives. Last night the laws passed the Senate, following negotiations between PM Anthony Albanese and Opposition Leader Sussan Ley. The new laws state that an organisation can be outlawed to protect the Australian community against social, economic, psychological and physical harm. Also gun legislation involving a buyback program passed parliament last night.

Greed-o-meter

Rank	Team	Valuation
1	Texas	$2.20B
2	Texas A&M	$1.59B
3	Ohio State	$1.55B
4	Louisiana State	$1.54B
5	Georgia	$1.47B
6	Michigan	$1.46B
7	Notre Dame	$1.42B
8	Penn State	$1.41B
9	Alabama	$1.41B
10	Nebraska	$1.24B

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College football in the US is very big business. The Wall Street Journal has shared the valuations of college teams, with the Longhorns from the University of Texas coming in at a whopping $US2.197 billion. Media rights for college football recently passed the $US4 billion mark, while ticket sales, alumni donations, advertising and rule changes that allow players to be paid more than $20 million a year have turned this sport into a major enterprise.

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Source: Wall Street Journal