Global Pulse

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  • Housing board votes to freeze New York rents in victory for Mamdani

    Housing board votes to freeze New York rents in victory for Mamdani

    In a landmark decision that caps off a key campaign promise from New York City Mayor Zohran Mamdani, the city’s Rent Guidelines Board (RGB) has voted to approve a full rent freeze for both one- and two-year leases on nearly one million rent-stabilized apartments across all five boroughs. The policy will go into effect from October 2026 through September 2027, applying to every type of regulated housing from high-end luxury high-rises to income-restricted subsidized units.

    The 7-1 vote on Thursday drew loud cheers and celebratory whistles from hundreds of tenant rights advocates gathered in Manhattan, who had packed public hearings in the lead-up to the decision to push for the freeze. Tenant organizers argued that stagnant household incomes have failed to keep pace with persistent inflation, and that past rent hikes have not been reinvested into building maintenance or upgrades as landlords promised.

    The vote followed a high-profile public resignation from board member Christina Smyth, one of two landlord representatives on the panel and an appointee of former mayor Eric Adams. Smyth stepped down hours before the final vote, accusing the reconfigured board of predetermined bias against property owners and knowingly ignoring official data showing landlords are grappling with skyrocketing operating costs. In her resignation statement, Smyth claimed the outcome was locked in from the moment Mamdani restructured the board after taking office earlier this year, saying “Everything since has been theater.” Mamdani appointed seven of the board’s nine members after taking office, fulfilling another core campaign pledge to overhaul the panel’s composition. During his 2025 mayoral campaign, he explicitly pledged to replace outgoing Adams appointees with only “those who understand that landlords are doing just fine.”

    RGB chair Chantella Mitchell pushed back against claims of political interference, affirming that all board members deliberated with full independence and integrity. She defended the freeze by pointing to comprehensive economic data showing a majority of rent-stabilized tenants already struggle to afford basic needs amid broader housing cost inflation across the city.

    Landlord advocacy groups have harshly criticized the decision, warning the freeze will leave property owners unable to cover rising taxes, utility bills, and necessary maintenance costs. James Whelan, president of the Real Estate Board of New York, argued the policy will backfire on tenants by accelerating the decline of the city’s aging housing stock, saying “This decision will mean less investment in maintenance and repairs, accelerating the deterioration of the housing stock that millions of New Yorkers call home.”

    The vote marks the fourth time New York City has implemented a rent freeze, and the first time it has applied to both one- and two-year leases. Prior freezes were enacted three times between 2015 and 2021 under former mayor Bill de Blasio, but were limited exclusively to one-year leases.

    The policy win comes on the heels of another major political victory for Mamdani and New York’s left-wing Democratic movement. On Wednesday, three progressive congressional candidates endorsed by the mayor defeated incumbent and establishment-backed Democratic opponents, solidifying the mayor’s growing influence over the city’s political landscape. Two of the winners – New York City Comptroller Brad Lander and community organizer Darializa Avila Chevalier – unseated long-sitting incumbent Democratic congressmembers, while state assemblywoman Claire Valdez defeated a candidate backed by the city’s traditional Democratic party leadership.

  • Heavy rain pounds western Japan as 2 tropical storms approach

    Heavy rain pounds western Japan as 2 tropical storms approach

    TOKYO – A volatile combination of a stalled seasonal rain front and two oncoming tropical systems has unleashed catastrophic flooding across broad swathes of western Japan, leaving one person injured and causing widespread disruption to infrastructure just as the system tracks toward the Tokyo metro area.

    The Japan Meteorological Agency (JMA) confirmed Friday afternoon that Tropical Storm Mekkhala was churning northeastward off the western shoreline of Amami, Japan’s remote southern island. A second storm, Higos, is tracking close on Mekkhala’s heels, and forecasters project both systems will reach the Tokyo region by Saturday, bringing with them sustained, intense rainfall that threatens to worsen already dangerous conditions.

    Local reports from Japan’s national public broadcaster NHK detailed one early casualty Friday: a man was hospitalized after falling into a rushing, swollen waterway in Nara Prefecture. Visual footage from Kyoto captured the iconic Kamo River transformed into a surging channel of murky floodwater, prompting emergency officials to roll out flood warnings across multiple districts in Kyoto, Osaka and other neighboring prefectures in western Japan.

    As of Friday evening, Japan’s Fire and Disaster Management Agency recorded more than 30 private residences across Nara and Hiroshima that have been fully or partially inundated by rising floodwaters. Beyond property damage, the relentless downpour has snarled regional transportation networks, forcing the suspension of multiple local train routes and prompting airlines to cancel or delay dozens of flights serving the affected region.

  • Hong Kong biotech delegation makes strong US showing at BIO 2026

    Hong Kong biotech delegation makes strong US showing at BIO 2026

    One of the biotechnology industry’s most high-profile global gatherings, the 2026 BIO International Convention, has hosted a historic delegation from Hong Kong that has cemented the city’s growing reputation as a leading global biotech innovation hub. Held in San Diego, California, the convention drew the largest contingent of Hong Kong-based life and health technology innovators in the event’s history, all unified under a shared regional banner to showcase the city’s cutting-edge advancements and collaborative potential.

    Led by the Hong Kong Science and Technology Parks Corporation (HKSTP), the 41-member delegation includes emerging technology startups, top-tier research institutions, and university spin-off ventures, with participation from all five of Hong Kong’s globally ranked universities – all of which place among the top 100 institutions worldwide in the latest QS World University Rankings. This broad, cross-sector participation underscores the depth of Hong Kong’s research infrastructure and its robust pipeline of skilled biotech talent. The dedicated Hong Kong Pavilion at the convention highlights a range of breakthrough innovations spanning AI-integrated biotech development, next-generation targeted therapeutics, advanced diagnostic tools, and novel pharmaceutical research.

    The city’s official presence at the convention was coordinated by the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco), in strategic partnership with HKSTP, Invest Hong Kong, and the Hong Kong Trade Development Council (HKTDC) under the umbrella of the Economic and Trade Express platform. Ahead of the official opening of the convention, the collaborating organizations hosted a dedicated networking and business matching event titled *Bio Nexus HK: From Showcase to Partnership*, which attracted more than 100 international attendees including venture capital investors, biotech founders, and C-level industry decision-makers. The event featured a candid fireside chat followed by an industry networking dinner, creating an open, collaborative environment that fostered cross-border dialogue and laid early groundwork for potential commercial partnerships.

    Throughout the main convention program, the Hong Kong Pavilion hosted two well-attended “Global Mixer” sessions that drew more than 150 international participants, with more than 40 Hong Kong-based exhibitors delivering concise one-minute pitches to connect with global investors, partners, and customers. Delegation members also received an invitation to the exclusive Invest in San Diego Breakfast hosted by the San Diego Regional Economic Development Corporation, an opportunity that allowed Hong Kong innovators to build ties with one of the world’s most vibrant and dynamic life sciences ecosystems.

    The delegation left the convention with tangible, high-impact outcomes, including multiple new partnership agreements. One notable milestone saw Zhaoke Ophthalmology, a Hong Kong-listed biotech firm focused on developing treatments for six prevalent major eye diseases, sign a memorandum of understanding with Brazilian pharmaceutical giant Laboratorio Teuto Brasileiro S.A. The agreement paves the way for the company to explore market entry opportunities across Latin America, opening a critical new growth corridor for the Hong Kong-based innovator.

    Terry Wong, Chief Executive Officer of HKSTP, emphasized that BIO 2026 provided an unrivaled global platform for Hong Kong innovators to deepen existing international partnerships and unlock new access to global healthcare markets. Wong highlighted Hong Kong’s unique position as a “super-connector” that bridges global biotech innovators with fast-growing opportunities across the entire Asia region, a role supported by the city’s world-class academic institutions and rapidly maturing biotech innovation ecosystem.

    Andy Wong, Head of Innovation and Technology and Life and Health Sciences at InvestHK, framed Hong Kong as a dynamic launchpad for global biotech growth, pointing to the array of targeted government support programs designed to help international companies navigate Hong Kong’s regulatory landscape, access venture and growth capital, and scale their operations across Asia.

    Curtis Louie, Director of the HKTDC, reaffirmed the council’s ongoing commitment to connecting Hong Kong’s biotech innovators with global industry partners through the organization’s extensive global network of 51 international offices, alongside its flagship industry platforms including the Asia Summit on Global Health and the Hong Kong International Medical and Healthcare Fair.

    Lucas Coleman, Director of the World Trade Center San Diego, noted that San Diego’s world-renowned life sciences cluster and collaborative, innovation-focused business environment make it a natural partner for Hong Kong companies seeking to establish a foothold in the U.S. market and accelerate their global growth trajectory.

    D.C. Cheung, Director of HKETO San Francisco, added that the 2026 convention offered an exceptional opportunity to showcase Hong Kong’s latest biotech achievements to an international audience of industry leaders, noting that the strong global rankings of Hong Kong’s universities reinforce the city’s status as a leading education hub that cultivates the specialized talent critical to long-term biotech industry growth.

    Widely recognized as the world’s largest and most comprehensive industry gathering for the global biotechnology sector, BIO 2026 has served as a critical launching pad for Hong Kong’s next wave of biotech innovation to reach global markets.

  • Pope Leo XIV says war ‘never blessed by God’ as he opens meeting of world’s cardinals

    Pope Leo XIV says war ‘never blessed by God’ as he opens meeting of world’s cardinals

    VATICAN CITY – On Friday morning, Pope Leo XIV opened a highly anticipated second two-day closed-door consistory of the College of Cardinals, using his opening address to deliver an uncompromising message of peace for a globe fractured by ongoing armed conflict, while also asking the body of church leaders for explicit public backing as he navigates both global tensions and internal church divisions. The gathering comes directly in response to calls from cardinals for more frequent consultation than they received during Pope Francis’ 12-year tenure, a pontificate marked by more centralized, solo governance from the papacy.

    The College of Cardinals, often called the red-capped “princes of the Church,” carries two core constitutional responsibilities in the global Catholic Church: providing counsel to a sitting pope and convening to elect a new pontiff following a pope’s death or resignation. This latest meeting marks the second consistory held since the first session in January, with Pope Leo – the first American to hold the papacy – calling the college back to Rome to tackle a tightly focused agenda.

    Three key topics were placed on the final agenda for the closed-door talks: an assessment of the current volatile global political landscape, discussion of Pope Leo’s recent encyclical focused on artificial intelligence, and efforts to restructure church engagement to better center the needs of everyday Catholic faithful around the world. Notably, plans to discuss ongoing rifts over the celebration of the traditional Latin Mass – a longstanding flashpoint for division in the global church – were pulled from the agenda. The decision comes as a showdown over the issue looms next week, when a breakaway faction of traditionalist Catholic leaders is set to consecrate four new bishops in open defiance of Pope Leo’s explicit instructions.

    In his opening remarks to the gathered cardinals, Pope Leo made a direct appeal for unity, telling the body: “I need your strong, explicit and public support. I need to feel myself supported by you as brothers.” Church communications rules have barred participating cardinals from speaking to media during the gathering in Rome; only the pope’s opening and closing addresses will be released to the public.

    Speaking earlier at an opening Mass for the consistory, the pontiff anchored his anti-war message in core Catholic teaching on human dignity, framing war as a moral failure that contradicts the gifts God granted to humanity. “Therefore, war is never worthy of humanity, and it is never blessed by God,” he said. “Because, even if we are equipped with high-tech weapons, the Creator has endowed us with intelligence and free will to resolve conflicts as human beings and not as beasts.”

    This anti-war stance is consistent with messaging Pope Leo has pushed throughout the early days of his pontificate. He has repeatedly called for peace amid Russia’s ongoing invasion of Ukraine and rising U.S.-Iran tensions, a position that has at times drawn public criticism and pushback from U.S. President Donald Trump.

    This report, from the Associated Press, forms part of AP’s religion coverage, produced in partnership with The Conversation US and with funding support from Lilly Endowment Inc. The AP retains full editorial responsibility for all content.

  • Driver in 2024 Magdeburg Christmas market attack convicted of murder and given life sentence

    Driver in 2024 Magdeburg Christmas market attack convicted of murder and given life sentence

    BERLIN – A German court has delivered a final verdict in one of the most high-profile violent attacks in recent German history, convicting a Saudi-born doctor of murder and imposing a life sentence without the possibility of early release after 15 years, the standard sentence provision in German criminal law. The conviction stems from a devastating December 2024 car-ramming attack on a crowded Christmas market in the eastern German city of Magdeburg that left six people dead and dozens injured.

    The defendant, 51-year-old Taleb al-Abdulmohsen, went on trial at Magdeburg’s state court in November, with prosecutors laying out a detailed account of the premeditated attack that unfolded over just 61 seconds. According to official investigation findings, al-Abdulmohsen carried out the assault using a rented BMW X3, which he drove at speeds reaching 30 miles per hour through the gathering of holiday shoppers and visitors. Investigators confirmed the 51-year-old was sober at the time of the attack, and that he acted entirely alone with no co-conspirators involved in the planning.

    Court officials confirmed the jury found al-Abdulmohsen carried “particularly serious” culpability for the attack, a ruling that strips him of the eligibility for early parole after 15 years that typically applies to life sentences in Germany. Five women and one 10-year-old boy were killed in the rampage, with many more survivors sustaining life-altering injuries that have had lasting impacts on their families and the wider Magdeburg community.

    Investigators have established that al-Abdulmohsen’s motive stemmed from deep personal anger over the outcome of a civil legal dispute and repeated dismissals of his criminal complaints, rather than ideological extremist direction. While the defendant does not fit the typical profile of a religious extremist attacker, investigators noted he publicly identified as an ex-Muslim highly critical of Islam, and expressed open support for far-right ideologies on social media platforms. German authorities had previously interacted with al-Abdulmohsen over reported threatening behavior, but he had no prior documented history of violent offenses before the 2024 attack. Al-Abdulmohsen first relocated to Germany in 2006 and held permanent residency status in the country at the time of the attack.

    The deadly Magdeburg attack became a turning point in German national politics, as it was one of a string of high-profile violent incidents involving immigrant perpetrators that pushed the issue of migration policy to the center of public debate ahead of Germany’s February 2025 federal national election. The verdict closes a key chapter in the legal aftermath of the attack, though it has left ongoing conversations about immigration regulation, threat assessment, and public safety in crowded public spaces unresolved across the country.

  • Most Venezuelan city in the US rallies to help after quakes

    Most Venezuelan city in the US rallies to help after quakes

    Nestled in South Florida, the city of Doral stands out as home to one of the largest concentrations of Venezuelan residents in the United States. With over 40 percent of its population tracing their roots back to the South American nation, this tight-knit community has sprung into immediate action following a series of devastating earthquakes that struck Venezuela.

    When news of the seismic damage, collapsed infrastructure, and displaced families reached Doral, residents wasted no time in organizing collective support. Local community centers, faith groups, and small business owners coordinated collection drives, gathering essential supplies ranging from bottled water, non-perishable food, and first-aid kits to temporary shelter materials and warm clothing. Donations poured in from across the city, as both Venezuelan-origin families and long-term Doral locals contributed funds, goods, and volunteer hours to the relief effort.

    This outpouring of solidarity reflects the deep emotional and cultural ties that Doral’s Venezuelan community maintains with their homeland. For many residents, the disaster hits close to home, with family members, friends, and loved ones directly affected by the quakes. What began as a spontaneous response has quickly grown into a structured aid operation, with organizers working alongside international relief groups to coordinate shipping and ensure that supplies reach the hardest-hit regions of Venezuela as quickly as possible.

    The unified effort in Doral demonstrates how immigrant communities leverage their local connections to respond rapidly to crises abroad, turning shared heritage into life-saving support for those in need.

  • South Korean court sentences ex-first lady Kim to 7 years for taking luxury gifts tied to favors

    South Korean court sentences ex-first lady Kim to 7 years for taking luxury gifts tied to favors

    In a landmark ruling that caps months of high-profile political fallout following the ouster of former South Korean President Yoon Suk Yeol, Seoul Central District Court has sentenced ex-first lady Kim Keon Hee to seven years in prison after convicting her on multiple charges of bribery and influence peddling. Friday’s verdict adds a second major prison term to Kim’s ongoing legal troubles, coming several months after an appellate court handed her a four-year sentence in a separate case involving gifts from the Unification Church and illicit gains from a stock manipulation scheme. In delivering the judgment, presiding Judge Jo Soon-pyo emphasized the unique ethical obligations that come with being a first spouse, noting that a president’s partner is expected to maintain extraordinary levels of self-discipline and public accountability. “Nevertheless, defendant Kim Keon Hee neglected that social responsibility and repeatedly accepted valuables by exploiting her influence as a means of brokering favors,” Judge Jo stated. Alongside the prison sentence, the court ordered the full confiscation of all luxury gifts Kim was found to have received, including a high-value Van Cleef & Arpels diamond necklace, a Tiffany & Co. brooch, a Dior handbag, a storage case for a gold turtle figurine, and a celebrated painting by renowned Korean artist Lee Ufan. Clad in a gray business suit and white face mask, Kim bowed her head silently throughout the reading of the verdict. She has long acknowledged accepting the items in question, but has consistently denied any connection between the gifts and promises of political favor. Kim has remained in ongoing litigation across several separate cases since her arrest in August 2025, and her legal team has not yet issued a public statement on whether they will challenge Friday’s ruling. This conviction is the latest development in a sweeping political shakeup that reshaped South Korea’s leadership earlier this year. Yoon Suk Yeol, a conservative incumbent, was removed from office in April 2025, just months after he was impeached following his controversial and short-lived declaration of martial law in December 2024. The move came amid a bitter political standoff with the liberal opposition, which held a legislative majority and had blocked most of Yoon’s policy agenda during his term. Yoon was arrested in July 2025 and is currently facing trial across multiple criminal cases. He has already appealed a life sentence for rebellion charges connected to the martial law declaration, as well as a separate 30-year prison term for allegations that he ordered unauthorized drone flights over North Korea’s capital Pyongyang to stoke cross-border tensions and justify his domestic power grab. After winning a snap presidential election to replace Yoon, liberal President Lee Jae Myung authorized a series of wide-ranging investigations into the martial law declaration and a host of other allegations against Yoon, his administration, and his spouse. The bribery charges that led to Friday’s conviction were brought by a special prosecutor in December. The most high-profile count centers on a 2022 bribe: Kim was found guilty of accepting the Van Cleef & Arpels necklace and other luxury goods totaling 138 million won (equivalent to roughly $90,000) from Lee Bong-kwan, chairman of Seohee Construction, in exchange for using her influence to secure a government position for Lee’s son-in-law. Lee Bong-kwan also received a one-year prison sentence in Friday’s ruling, which has been suspended for two years. Beyond the construction chairman’s gifts, the court convicted Kim on four additional bribery counts: accepting a luxury watch from Seo Seong-bin, a business owner seeking government backing for his robotic dog enterprise; a Dior handbag and other gifts from Pastor Choi Jae-yong, who wanted a spot on a government-funded civilian diplomatic delegation; a gold turtle figurine and traditional Korean painting from Lee Bae-yong, a former head of the National Education Commission who lobbied for Kim’s informal policy influence; and the 140 million won ($90,900) Lee Ufan painting from Kim Sang-min, a former senior prosecutor who sought the ruling conservative party’s nomination for the 2024 legislative elections. All other co-defendants received lenient penalties: Seo Seong-bin and Lee Bae-yong were given suspended prison sentences, while Choi Jae-yong was ordered to pay an 8 million won ($5,200) fine.

  • Ferrari’s Hamilton faces Mercedes in Austria hoping to turn F1 win into a title shot

    Ferrari’s Hamilton faces Mercedes in Austria hoping to turn F1 win into a title shot

    The 2026 Formula 1 world championship battle has evolved into one of the most compelling generational clashes in the sport’s modern history, pitting 41-year-old veteran Lewis Hamilton against 19-year-old rising phenom Kimi Antonelli for the season’s biggest prize.

    Hamilton, who made history earlier this season by becoming Formula 1’s oldest race winner since 1950 with his victory at the Circuit de Barcelona-Catalunya, is now gunning for an unprecedented eighth world title. A win would cement his status as the sport’s oldest champion since 1957, capping a remarkable comeback year following his high-profile move to Ferrari. On the opposite side of the title fight, the teenage Italian Antonelli, driving for Mercedes, currently sits atop the drivers’ championship standings. If he maintains his lead through the final races of the season, he will secure his place as the youngest world champion in F1 history.

    This weekend’s Austrian Grand Prix, already classified as an official “heat hazard” event amid the record-breaking heatwave sweeping across Europe, will prove a critical turning point in the title race. Speaking ahead of the opening practice sessions, Hamilton made clear he was undaunted by the challenge ahead. “I’ve been here before. I know what I have to do, and there’s a long way to go,” the seven-time champion said. “We have a real battle on our hands, and it’s going to take everyone for the rest of the year to even come close to competing with (Mercedes), but I don’t think it’s impossible.”

    Antonelli wasted no time proving his title lead is well-deserved during Friday’s opening practice sessions, outpacing the entire field in both outings. In the first session, he led a Mercedes one-two finish, edging teammate George Russell by just 0.04 seconds. In the second session, he extended his advantage, beating McLaren’s Oscar Piastri by 0.237 seconds and Lando Norris by 0.325 seconds. Hamilton, meanwhile, posted a fifth-place finish in both sessions.

    Friday’s practice brought little joy for the Cadillac team, with Sergio Perez forced to stop on track during both sessions and Valtteri Bottas dealing with a small undercarriage fire that cut his running short.

    Hamilton’s surprise Barcelona win two weeks prior — his first victory for Ferrari after 18 months of underperformance and frustration — was the product of a perfect combination of clever race strategy, uncharacteristic reliability issues from Mercedes, and groundbreaking aerodynamic innovation from the Italian squad that rivals have already rushed to replicate. Ferrari has brought another upgraded power unit to Austria, signaling the team’s momentum is continuing to build.

    Russell, Antonelli’s Mercedes teammate and Hamilton’s former Mercedes teammate, admitted he had been caught off guard by the speed of Ferrari’s development under Formula 1’s strict cost cap regulations, but maintained his squad remains the team to beat. “At the end of the day, we’re still the team to beat. So this will be another good weekend to see if Ferrari are still on that good form or if that was a one-off,” Russell said. He added that critics who had written Hamilton off following his slow start at Ferrari were clearly wrong, saying: “For sure, he is a big threat. Ferrari are a huge threat. Kimi is still very much the driver out front and is performing really incredibly and consistently. Ferrari feel like they’re coming and Lewis is at the forefront of that.”

    For Antonelli, this weekend’s race at the Red Bull Ring is more than just another title round — it’s a chance to prove how far he has come in just 12 months. Three corners into the 2025 Austrian Grand Prix, a rookie mistake saw the teenager collide with Max Verstappen, ending both drivers’ races on the spot. Though Verstappen graciously accepted Antonelli’s apology, noting that every driver makes similar early-career errors, the points lost that day ultimately cost the four-time champion the 2025 title.

    That crash kicked off a disastrous summer stretch of results on European tracks for Antonelli, who later admitted he was overwhelmed by frustration. After Mercedes team principal Toto Wolff publicly described the teenager’s performance at his home Italian Grand Prix as “underwhelming”, widespread speculation emerged about the young driver’s future with the squad. Instead of breaking his confidence, however, the criticism pushed Antonelli to turn his season around. He used Wolff’s remarks as motivation to improve, scoring more points in the final eight races of 2025 than he had accumulated in the previous 16 rounds. That late-season form laid the groundwork for his breakout 2026 campaign that has put him in control of the championship fight.

    The Austrian round also brings ongoing uncertainty around Verstappen’s future, marking the third consecutive year the four-time champion has arrived at Red Bull’s home race without a clear long-term commitment. His current Red Bull contract runs through 2028, but includes clauses that would allow him to exit the team early. Speculation around his future has been fueled by long-rumored interest from Mercedes and public comments from Verstappen expressing frustration with the performance of 2026-specification cars, leading to questions about whether he could walk away from the sport entirely. In both 2024 and 2025, Verstappen eventually reaffirmed his commitment to the team that has supported him throughout his entire F1 career.

    Finally, controversy continues to simmer around the Monaco Grand Prix three weeks after the checkered flag fell, with final results still not confirmed. McLaren and Red Bull are both protesting the ruling that restored Alpine driver Pierre Gasly to third position after his time penalty was overturned. Multiple drivers received penalties after race officials misconfigured the circuit’s timing system, but only Gasly’s penalty was rescinded. If the original ruling is reversed, Red Bull’s Isack Hadjar would move up to third, with McLaren’s Piastri dropping to fourth.

  • Australia plans to strengthen laws banning children from social media

    Australia plans to strengthen laws banning children from social media

    Australia’s federal government is prioritizing legislative reforms to toughen a landmark national ban on social media use for children under 16, after mounting data and expert analysis confirmed the original policy has failed to block underage users from major platforms, Prime Minister Anthony Albanese has confirmed.

    First implemented last December 10, Australia’s ban was a global first — no other country had previously codified an age-based prohibition on under-16s holding social media accounts on major platforms including Meta-owned Facebook and Instagram, Alphabet’s YouTube, and ByteDance’s TikTok. But in the seven months since the rule took effect, overwhelming evidence has shown the policy has fallen far short of its goals. Leading the push for stronger powers, Australia’s top online safety regulator eSafety Commissioner Julie Inman Grant has already signaled she is considering taking major platforms to court for failing to meet their obligations under the current law.

    Speaking to Parliament Thursday, Albanese confirmed his administration is actively reviewing all options to strengthen the existing framework. “We’re working on that as a priority because this is something that other generations didn’t have to deal with, which is why it is complex,” he told lawmakers. In a follow-up interview with the Australian Broadcasting Corp. Friday, Albanese added that the government is assessing whether existing laws are robust enough, and whether Inman Grant’s office currently has full authority to enforce the ban effectively.

    Independent data backs up claims that the original ban is not working. Internal data released by the eSafety office in March found that 70 percent of underage Australian children still maintain active accounts on major platforms including Facebook, Instagram, Snapchat and TikTok. A separate study published Wednesday in the *British Medical Journal* went further, finding that 85 percent of Australian teens aged 12 to 17 continue to access platforms they are barred from using under current law.

    Lisa Given, an information sciences expert at Melbourne’s RMIT University, told the Associated Press that the government’s push for reform is a direct response to this overwhelming evidence of failure. “I do think it’s failing,” Given said. “Many kids in the media have reported that they also think that this is really a failed exercise.”

    The *Sydney Morning Herald* reported in early June that Inman Grant told a private interview that she currently lacks “potent powers” to enforce the ban, noting that “a regulator is only as good as the tools and the resources that they are given.” The AP requested comment from Inman Grant’s office Friday to verify the reporting, but did not receive an immediate response.

    Given explained that the current regulation puts the onus on platforms to take “reasonable steps” to remove underage accounts, but the law does not clearly define what qualifies as reasonable steps. If platforms fail to comply, they can face maximum fines of 49.5 million Australian dollars, equal to roughly $34 million U.S. — but enforcement has stalled without clear regulatory authority. “Either the eSafety Commissioner needs more powers or we’ve got to have some other approach to enforcement,” Given said, adding that courts will likely need to ultimately clarify what the law requires of platforms.

    Albanese confirmed that alongside strengthening the under-16 ban, the government will move forward with a broader digital duty of care law, which would hold social media companies legally accountable for foreseeable harms to users caused by platform content and algorithmic recommendation systems.

    Australia’s push to toughen age-based social media restrictions is part of a growing global trend. Just last week, the United Kingdom announced its own plans to ban children under 16 from most major social media platforms, framing the rule as a necessary protection for young people against harmful online content and excessive screen time. Canada, Brazil and Indonesia have already introduced similar age-based legislation or restrictions, while France, Spain, Denmark, Thailand and South Korea are all currently developing or studying comparable regulations to limit children’s social media access.

  • Asia stock markets slide as tech shares slump

    Asia stock markets slide as tech shares slump

    A widespread sell-off across the technology sector dragged Asian stock markets into steep negative territory on Friday, as investors grew increasingly wary that the multi-month rally in tech shares had outpaced realistic fundamentals.

    The downturn rippled across the region, starting with severe declines in South Korea’s benchmark Kospi index. An 8% intraday drop triggered the market’s automatic circuit breaker mechanism, designed to stem panic-driven trading, halting all transactions for 20 minutes. By the closing bell, the index had settled 5.8% down. This marked the third time this week alone the circuit breaker has been activated, and the fifth such event in 2026, highlighting the extreme volatility that has gripped South Korean equity markets in recent months.

    Friday’s sell-off followed sharp declines in major U.S. tech stocks the previous session. Apple saw its share price plummet 6% on Thursday — its largest single-day drop in over 12 months — after the company announced it would hike prices for its iPad and MacBook product lines to offset skyrocketing computer chip manufacturing costs. Microsoft also recorded losses after it revealed price increases for its Xbox gaming consoles, blaming elevated component costs. These moves stoked broader market fears that rising input costs will dampen consumer demand for tech devices, which could in turn cool demand for semiconductors, undoing much of the recent growth the chip sector has enjoyed amid the AI boom.

    Japan’s Nikkei 225 was not spared from the downturn, closing 4% lower, led by a 12.5% plunge in shares of SoftBank, the Japanese investment giant that has positioned itself as a leading backer of AI startups and infrastructure. Major regional benchmarks in Taiwan and mainland China also posted double-digit percentage declines for the session, deepening the regional market rout.

    Market analysts point to two core drivers of the correction: escalating input costs across the tech sector and growing skepticism over lofty valuations for AI-focused companies. David Makaryan, senior partner at global investment firm Alpha Pacific Group, noted that many traders are moving to lock in profits after months of steady gains, while the broader market is reassessing how much growth AI investment will actually deliver. “The long term investment case for AI remains compelling, but investors are becoming far more selective about which companies can justify the valuations the market has assigned to them,” Makaryan explained.

    Concerns are also growing over the hundreds of billions of dollars that large tech firms have earmarked for AI infrastructure buildout this year. Raymond Woo, an analyst with Kyoto University Innovation Capital, pointed out that the steep costs of commercializing new AI tools are already being passed downstream to consumers. This dynamic “naturally raises questions” about whether consumer demand will scale fast enough to match the massive current investment in AI, and whether current tech stock valuations are rooted in realistic growth projections, Woo said.