Attacks on the Federal Reserve raise alarm bells – it could be forced to halt worldwide cooperation on banking regulation
As President Trump struggles to staff his administration with sympathisers who will help transpose tweets into policy, the exodus of Obama appointees from the federal government and other agencies continues. For the financial world, one of the most significant departures was that of Daniel Tarullo, the Federal Reserve governor who has led its work on financial regulation for the last seven years.
It would be a stretch to say that Tarullo has been universally popular in the banking community. He led the charge in arguing for much higher capital ratios, in the US and elsewhere. He was a tough negotiator, with a well-tuned instinct for spotting special pleading by financial firms. But crocodile tears will be shed in Europe to mark his resignation. European banks, and even their regulators, were concerned by his enthusiastic advocacy of even tougher standards in Basel 3.5 (or Basel 4, as bankers like to call it), which would, if implemented in the form favoured by the US, require further substantial capital increases for Europe’s banks in particular. In his absence, these proposals’ fate is uncertain.
Report’s authors say Sydney unprepared for knock-on effects of a significant increase in average summer temperatures
New South Wales, which has just experienced its hottest summer on record, is 50 times more likely to experience another similarly hot summer and 10 times more likely to experience extremely hot days under climate change, according to a group of Australian climate scientists.
The mean temperature in Sydney was 2.8C above average in December, January, and February, according to the Bureau of Meteorology, and the three-day heatwave from 9 February to 11 was the hottest on record from Sydney to Brisbane, breaking records set in 1939.
The smallest city in Britain, St Davids in Wales, is among those to register an interest.
It took billions of years for most of the Earth’s minerals to form, but scientists say hundreds more have been created in the years since the industrial revolution.
Half the world’s population will be affected by myopia by 2050 because children are spending too much time indoors, according to researchers.
Mitchell Marsh says Australia’s pace spearhead Mitchell Starc remains the tourists’ biggest weapon ahead of the second Test against India, despite the spinners stealing the show in Pune.
Kate Mulvany is astonishing in the title role of Bell Shakespeare’s latest Richard III, but that doesn’t make it politically radical
Richard III, Shakespeare’s tragi-history about a tyrant’s rise to power, is inherently, though not potently, political.
Richard’s physical disabilities (notably, a hunched back) have rendered him a laughing stock, an un-serious prospect for ultimate rule. So he brilliantly and bloodily sets about proving everyone wrong – and he does it with a smile.
Matter referred to police after Department of Human Services officials questioned on legality of releasing Andie Fox’s details
Labor has asked the Australian federal police to investigate the government’s release of welfare recipients’ private information.
Labor’s Linda Burney took the step after senior Department of Human Services officials were questioned in Senate estimates over the legality of releasing the personal details of welfare recipient Andie Fox.
Republicans were initially more cautious.
The attacks may have been an attempt to target the Islamic State, a U.S. general said.