Morning everyone. Australia’s big two supermarkets have suffered a further blow to their reputation with the watchdog’s interim report accusing them of “oligopolistic market structures”. We examine the options for reforming negative gearing, and our podcast wonders if such a radical move is exactly what Labor needs. Plus, New York’s mayor is charged with bribery, Elon Musk has emerged as the major backer of Donald Trump’s ground game in battleground states and Lord’s has beefed up security as Australia return to the scene of the Ashes stoush.
Australia
Tunnel trouble | The Victorian government has announced that its Metro Tunnel project has blown out by another $837m thanks to the rising cost of materials, labour and borrowing. Benita Kolovos explains what’s going on.
‘Oligopolistic market’ | Coles and Woolworths provide broadly similar products, prices and loyalty programs in an oligopolistic market that may limit competition, the ACCC has found in its interim report on the sector.
Dutton call | The opposition leader, Peter Dutton, has called for the University of Sydney vice-chancellor, Mark Scott, to resign, saying he would do so if he had “any shred of integrity”.
China threat | The slowdown in China has been identified by the Reserve Bank as one of the key external threats to the Australian economy and overnight the government in Beijing announced its second stimulus package of the week, this time aimed at propping up the moribund housing market.
Line of Fire reports | The ABC has appointed veteran journalist and media executive Alan Sunderland to undertake an independent review of the broadcaster’s Line of Fire reports about an Australian military operation in Afghanistan.
World
Mayor charged | Eric Adams, the mayor of New York City, faces charges of accepting bribes and illegal campaign contributions from foreign sources after an indictment was filed against the leader of one of the world’s biggest cities.
‘We will not stop’ | Benjamin Netanyahu has said Israel “will not stop” its attacks on Hezbollah in Lebanon despite international calls for an immediate ceasefire. Police in Norway have issued an international search warrant for a Norwegian Indian man in connection with the sale of pagers to the Lebanese militant group Hezbollah that exploded last week, killing dozens of people.
Musk Pac | Donald Trump’s mass voter turnout program in battleground states is now principally being run by America Pac, the political action committee backed by Elon Musk, according to multiple sources. Separately, Musk has hit back at the UK government for not inviting him to a tech summit.
‘Victory plan’ | Joe Biden and Volodymyr Zelenskyy have met at the White House where the Ukrainian leader is expected to present a high-stakes “victory plan” to end the war with Russia with additional American aid.
Covid comeback | Covid is on the rise in England, experts have warned, while a senior doctor broke down in tears as he described how infected patients were “raining from the sky” during the pandemic.
Full Story
Could ditching negative gearing be the bold move Albanese needs?
Bridie Jabour speaks to Paul Karp about why Australia could be gearing up for another election battle over tax breaks for housing investors. We also have an explainer by Josh Butler about the different options for reforming the system.
In-depth
For migrants on bridging visas such as Sukhdeep Kaur and Jaswinder Singh, the need to reapply every three months brings mental torture. They tell Rafqa Touma about the dilemma of having to visit dying parents in India and risk not being allowed back into Australia for three years, or not seeing their parents again.
Jaswinder has just returned to India to see his elderly father, leaving Sukhdeep at home where she can only talk on the phone to her mother who has cancer. “We are just breathing. We are not living. We are dying inside,” she says.
Not the news
Nardi Simpson, the Yuwaalaraay woman and Stiff Gins musician turned novelist, has just released her second book, The Belburd. Like her debut, Song of the Crocodile, it interweaves a modern story that draws on cultural stories. She talks to Dee Jefferson about reimagining the history of Sydney and the danger of appropriating the stories of real people.
The world of sport
NRL | The Brisbane Broncos have sacked coach and club legend Kevin Walters after the club’s stunning fall from NRL grand finalists last year to 12th spot.
AFL | Brisbane Lions fans are preparing to make the trip to Melbourne for tomorrow’s grand final and hoping to go one better than last year.
Cricket | Alex Carey and his Australia teammates will walk back through the Long Room at Lord’s later today with extra security a year on from the day they were verablly abused by members during the Ashes Test.
Formula One | Daniel Ricciardo’s career appears over after it was announced he will be replaced by the New Zealander Liam Lawson at Red Bull for the remainder of the season.
Media roundup
The boss of the Star casino has slashed $1.4bn from the value of the company and described it as being “on its knees”, the Financial Review reports. Peter Dutton has labelled international students using the AAT to challenge visa rulings today’s equivalent of boat arrivals, the Australian reports. The Newcastle Herald celebrates the achievement of the city’s adopted son, film director Bharat Nalluri, in representing Australia at the Asian Academy Creative Awards for his Boy Swallows Universe Netflix series.
What’s happening today
China | Treasurer Jim Chalmers’ two-day visit continues.
Tasmania | Decision in Tasmania’s Museum of New and Old Art appeal against ladies’ lounge closure decision.
Melbourne | AFL grand final parade starting at 9am.
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Brain teaser
And finally, here are the Guardian’s crosswords to keep you entertained throughout the day. Until tomorrow.
