Good afternoon.
The Australian share market plunged on Monday as the Iran war drove oil prices above US$100 a barrel for the first time since 2022. The benchmark S&P/ASX 200 was down 2.85% – about $90bn – as the market closed, marking the single biggest one-day drop since the announcement of Donald Trump’s “liberation day” tariffs last year.
It comes as Mojtaba Khamenei, the second son of the late Iranian supreme leader Ayatollah Ali Khamenei, was chosen as his successor. Meanwhile fears are growing over the safety of the Iranian women’s football team who are in Australia, with their return to Iran imminent after playing their final Asian Cup game on the Gold Coast.
You can follow the latest updates on the conflict here.
Top news
VPN apps rocket up download charts in Australia as porn websites begin blocking users
Shots fired at Rihanna’s house in Beverly Hills and woman arrested – reports
Country Joe McDonald, Woodstock star and anti-war singer, dies aged 84
Four-year-old clumber spaniel called Bruin wins best in show at Crufts
In pictures
As he traversed Western Australia’s wheatbelt over the past 20 years, Brad Rimmer noticed how many of its small halls had disappeared. So the photographer set out to capture the faded glory of the remaining halls in the once-thriving agricultural region.
What they said …
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“It’s only fair that visitors to the region pay a small fee to visit this world-class destination so that we can maintain it for future generations.”– Steve Dimopoulos.
Victoria’s environment minister has defended a new entry fee planned for the Great Ocean Road’s Twelve Apostles, saying the funds will support upgrades to beach access and visitor facilities and maintain the historic landmarks.
Full Story
The anti-climate policy blowing a hole in Labor’s budget
This year, the government will spend billions on a scheme that makes it cheaper for miners and other industries to use diesel and petrol, known as the fuel tax credit scheme.
With the federal budget under pressure, Nour Haydar speaks with Adam Morton about the most costly anti-climate policy in it.
Before bed read
Kasasa is known as the “Hawaii” of Japan’s inland sea because of its warm climate and beautiful coastline. Home to just seven residents, its idyllic, secluded location is attractive for other reasons – it sits close to two key military bases. Now Chinese developers have bought and started to develop two plots of land, sparking rumours they could be used by Beijing for surveillance.
Daily word game
Today’s starter word is: NEB. You have five goes to get the longest word including the starter word. Play Wordiply.
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