Today’s headlines at a glance
Hello and welcome to our national news live coverage for Friday, July 24. Here’s what’s making headlines today.
Middle East at War: Oil is trading at above $US100 for the time since the last phase of the Iran war after Houthi rebels fired at two Saudi oil tankers in the Red Sea, prompting US President Donald Trump to warn of bigger strikes against the Iranian regime and its surrogates.
Politics: Prime Minister Anthony Albanese attended an exclusive dinner hosted by an uber-rich 25-year-old whose billionaire father was accused by the Tax Office of repeatedly deceiving authorities to funnel huge sums of money from China into Australian bank accounts and mansions.
AUKUS: Billions of dollars of additional funding for the US defence industrial base have not improved the production rate of Virginia-class submarines, a top Pentagon official says, casting further doubt on whether Australia will receive its AUKUS subs on schedule.
Business: Macquarie Group chief executive Shemara Wikramanayake is retiring as boss of the investment giant after eight years in the job. When she departs in November, she does so with about $370 million in shares, the fruits of a four-decade career with the investment banking giant. She has another $89 million in deferred share units that are yet to vest.
International: More than 20,000 people are fleeing a wildfire in southern France after flames spread rapidly through a bayside area busy with families on school holidays, in the latest emergency of a European summer marked by intense heat and dry conditions.
Commonwealth Games: The 2026 Games are under way in Glasgow. The opening ceremony kicked off at 5am and featured King Charles and Queen Camilla emerging from a Dr Who Tardis. Follow our coverage here.
Evacuations at French holiday spot as fires spread across Europe
London: More than 20,000 people are fleeing a wildfire in southern France after flames spread rapidly through a bayside area busy with families on school holidays, in the latest emergency of a European summer marked by intense heat and dry conditions.
French authorities said more than 700 firefighters were trying to contain the blaze around the Bay of Arcachon, west of Bordeaux, as they asked families at beachside campsites to leave overnight to avoid being trapped by the flames.
Authorities have ordered the evacuation of about 12,000 people from the area around the Bay of Arcachon, while another 8800 are being moved as a precaution.
Wildfires have also spread in Spain and Italy after the heatwaves of the northern summer, while a fire also spread in a district south of Paris, blamed on arsonists who lit the flames in the Fontainebleau forest near the capital.
Oil surges over $100 for first time in months
Oil is trading at above $US100 for the time since the last phase of the Iran war after Houthi rebels fired at two Saudi oil tankers in the Red Sea, prompting US President Donald Trump to warn of bigger strikes against the Iranian regime and its surrogates.
The price for a barrel of Brent crude, the international standard, rose more than 8 per cent on Thursday (US time), its highest price since May.
Trump warned that if the Iran-backed militants in Yemen fired on another ship, he would inflict “major military punishment” on Iran and the Houthis themselves – “who I am very disappointed with in that they have, until now, acted very professionally and smart”.
It touched $US102 during the day for the most actively traded Brent contract in the market. The cause: attacks on two Saudi oil tankers in the Red Sea. That threatens another avenue that oil companies use to move their crude from the Middle East to customers worldwide, along with the Strait of Hormuz.
Today’s headlines at a glance
Hello and welcome to our national news live coverage for Friday, July 24. Here’s what’s making headlines today.
Middle East at War: Oil is trading at above $US100 for the time since the last phase of the Iran war after Houthi rebels fired at two Saudi oil tankers in the Red Sea, prompting US President Donald Trump to warn of bigger strikes against the Iranian regime and its surrogates.
Politics: Prime Minister Anthony Albanese attended an exclusive dinner hosted by an uber-rich 25-year-old whose billionaire father was accused by the Tax Office of repeatedly deceiving authorities to funnel huge sums of money from China into Australian bank accounts and mansions.
AUKUS: Billions of dollars of additional funding for the US defence industrial base have not improved the production rate of Virginia-class submarines, a top Pentagon official says, casting further doubt on whether Australia will receive its AUKUS subs on schedule.
Business: Macquarie Group chief executive Shemara Wikramanayake is retiring as boss of the investment giant after eight years in the job. When she departs in November, she does so with about $370 million in shares, the fruits of a four-decade career with the investment banking giant. She has another $89 million in deferred share units that are yet to vest.
International: More than 20,000 people are fleeing a wildfire in southern France after flames spread rapidly through a bayside area busy with families on school holidays, in the latest emergency of a European summer marked by intense heat and dry conditions.
Commonwealth Games: The 2026 Games are under way in Glasgow. The opening ceremony kicked off at 5am and featured King Charles and Queen Camilla emerging from a Dr Who Tardis. Follow our coverage here.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: www.smh.com.au
