标签: Oceania

大洋洲

  • Former prime minister Tony Abbott set to be elected unopposed as federal president of the Liberal Party

    Former prime minister Tony Abbott set to be elected unopposed as federal president of the Liberal Party

    Nearly five years after losing his parliamentary seat in a federal election, one of Australia’s most recognizable conservative political figures is set to make a high-profile return to the forefront of national politics. Former Australian Prime Minister Tony Abbott has secured a spot as the only nominee for the federal presidency of the Liberal Party, putting him on track to take the senior party role without any contest.

    Details of the nomination were made public after party delegates received a full list of candidates for all internal Liberal Party positions via email on Friday afternoon. With no other candidates put forward for the top administrative role, Abbott is all but guaranteed to win the position when the Liberal Federal Council holds its formal endorsement vote during a scheduled meeting in Melbourne next week.

    The road to the presidency saw a last-minute shift earlier in the nomination process: former foreign minister Alexander Downer, who had initially launched a bid for the top job, ultimately withdrew his candidacy to run instead for a vice presidential position on the party’s federal executive.

    Abbott will take over the role from outgoing federal president John Olsen, a former South Australian senator who has held the position in recent years.

    A veteran of Australian conservative politics, Abbott served as the country’s 28th prime minister from 2013 to 2015. His tenure ended abruptly when he was removed from office via a leadership spill orchestrated by his then-colleague Malcolm Turnbull, who went on to replace him as prime minister and Liberal Party leader. Abbott retained his northern Sydney seat of Warringah until the 2019 federal election, when he was unseated by independent candidate Zali Steggall, ending his decades-long run as a sitting member of parliament.

    The Liberal Party’s governing structure places the federal presidency at the heart of the party’s national administrative leadership. The Liberal Federal Council, which will formally confirm Abbott’s appointment, is made up of 14 delegates from every Australian state and the Australian Capital Territory. These delegates include the federal president, the parliamentary party leader, the head of the Young Liberal Movement, the president of the party’s national Women’s Council, and 10 additional appointed representatives.

    The party’s federal executive, which includes the federal office bearers, divisional presidents from across the country, and the federal parliamentary leadership team, is required to hold at least four formal meetings each year per the party’s official governing charter. While policy positions adopted by the Federal Council are not legally binding on the Liberal Party’s parliamentary wing, the body’s stances carry significant ideological and political weight that shapes the party’s public policy agenda.

    As of Friday, media outlets have not received an official statement from the Liberal Party’s federal branch regarding Abbott’s nomination. Political observers widely view the appointment as cementing Abbott’s return to the front lines of Australian conservative politics four years after his exit from parliament.

  • Guardiola to step down after glittering decade at Man City

    Guardiola to step down after glittering decade at Man City

    After a transformative, trophy-filled decade that redefined modern English football, Pep Guardiola has formally announced he will step down as head coach of Manchester City when the current Premier League season concludes this weekend.

    The 55-year-old Catalan coach, who collected 20 major honors during his 10 seasons at the Etihad Stadium, will oversee his final match in charge when Manchester City hosts Aston Villa on Sunday. Following his departure, he will stay connected to the City Football Group, taking on a new role as a global ambassador for the organization.

    In an official statement released by the club Friday, Guardiola reflected on his time with the side, saying: “What a time we have had together! Don’t ask me the reasons I’m leaving. There is no reason, but deep inside, I know it’s my time. Nothing is eternal, if it was, I would be here. Eternal will be the feeling, the people, the memories, the love I have for my Manchester City.”

    Rumors of Guardiola’s impending exit first emerged early this week. When reports first broke, the coach declined to comment on his future plans, a day before Manchester City officially saw their four-year Premier League title streak end, with Arsenal claiming the 2024-25 crown.

    Guardiola arrived at Manchester City in 2015, already widely regarded as one of the most innovative and successful managers in European football. He built a legendary reputation during a four-year spell at his boyhood club Barcelona from 2008 to 2012, where he won two Champions League titles and three La Liga crowns, before adding three consecutive domestic league titles over three seasons with Bayern Munich. Most pundits predicted a similarly short, five-year tenure at most when he made the move to the Premier League, but he would go on to stay a full decade.

    Backed by Abu Dhabi ownership, Guardiola led Manchester City out of the long shadow of local rival Manchester United to build the club’s era of dominance. His trophy haul at City includes an unprecedented six Premier League titles, the club’s first and only Champions League crown, three FA Cups, five League Cups, a Club World Cup, a UEFA Super Cup, and three Community Shields.

    Beyond the silverware, Guardiola’s impact on English football extends far beyond Manchester City. His signature possession-based, attacking style of play has been adopted at every level of the English game, from grassroots youth football to top-flight elite clubs. Many of the top managers currently leading the league’s biggest clubs are direct disciples of Guardiola’s coaching philosophy: Arsenal’s Mikel Arteta, who ended his side’s 22-year Premier League title drought this season, previously served as an assistant under Guardiola at City; Liverpool’s new manager Arne Slot has credited Guardiola’s Barcelona side with shaping his coaching approach; and new Chelsea manager Xabi Alonso finished his playing career at Bayern Munich specifically to learn under Guardiola.

    The announcement of Guardiola’s exit comes as Manchester City still awaits the final ruling on a long-running Premier League investigation into more than 115 alleged financial regulatory breaches. The club was first charged by the league in February 2023, an independent commission wrapped up its hearings in December 2024, and the final outcome of the case remains pending, hanging over the club’s on-pitch achievements from Guardiola’s tenure.

    Per widespread media reports, Enzo Maresca, the current manager of Leicester City and a former assistant coach on Guardiola’s Manchester City staff, is set to take over the head coaching role at the Etihad when Guardiola departs.

  • Michael Carrick given permanent deal as Man Utd manager – club

    Michael Carrick given permanent deal as Man Utd manager – club

    English Premier League giant Manchester United announced Friday that Michael Carrick, the club’s former legendary midfielder, has been rewarded with a permanent contract to serve as head coach for the upcoming season, capping a stunning interim spell that secured the side a return to the UEFA Champions League. The 44-year-old stepped into the interim role back in January, following the club’s decision to dismiss former manager Ruben Amorim. What followed was a remarkable turnaround in form that propelled United from a mid-table position to a third-place finish in the 2024/25 Premier League campaign, booking the club an automatic spot in the Champions League group stage next term. In an official statement released by the club Friday, Manchester United executives expressed their delight at locking in Carrick long-term, praising his steady leadership and immediate impact during his five-month interim tenure. Speaking after the contract was confirmed, Carrick — who first joined Manchester United as a player 20 years ago, going on to win multiple Premier League titles and a Champions League trophy during his playing career — reflected on his deep connection to the club. “From the moment that I arrived here 20 years ago, I felt the magic of Manchester United,” Carrick said. “Carrying the responsibility of leading our special football club fills me with immense pride.” The new permanent head coach also highlighted the character of his playing squad, noting that over the past five months, the group has demonstrated the resilience, teamwork and relentless determination that has long been a core value of the storied club. “Throughout the past five months, this group of players have shown they can reach the standards of resilience, togetherness and determination that we demand here,” Carrick added. “Now it’s time to move forward together again, with ambition and a clear sense of purpose. Manchester United and our incredible supporters deserve to be challenging for the biggest honours again.” The appointment marks a full-circle moment for Carrick, who has become one of the few former club legends to transition from decorated player to permanent first-team manager at Old Trafford. Fans have broadly welcomed the decision, after Carrick’s attacking, disciplined brand of football reinvigorated a squad that had struggled for consistency earlier in the season.

  • Western Australian government offering scheme offering residents $150 in cash to plant native trees

    Western Australian government offering scheme offering residents $150 in cash to plant native trees

    Thousands of adult residents across Western Australia are currently eligible to receive a one-off $150 cash rebate through a state government environmental initiative designed to boost local native tree populations. Launched one year ago under the name “Treebate,” the incentive program is administered by the WA Department of Water and Environmental Regulation, and has already drawn more than 2,000 participants with two months remaining until its first anniversary.

    The core premise of the program is simple: eligible residents 18 years and older can purchase a qualifying native tree from a local garden center or nursery, plant it on their residential property, and submit a rebate claim through the ServiceWA online platform to receive the full $150 purchase incentive. To qualify for the rebate, participants must meet three key requirements: select a native species that will grow to a minimum mature canopy height of 3 meters, provide clear photographic evidence of the tree labeled with its common or scientific name, and retain a tax invoice as official proof of purchase.

    The $6.9 million four-year program was developed in direct response to a pressing ecological crisis in Perth, where more than 4,500 native trees have been killed in recent years by invasive shot-hole borer insects. To complement the residential Treebate scheme, the state government has also launched a second complementary initiative, the WA Tree Recovery Program, which offers landowners the same $150 rebate for every native tree they replace after it was lost to the shot-hole borer infestation.

    WA Environment Minister Matthew Swinbourn emphasized the far-reaching value of expanding the state’s native tree cover, noting that every new tree planted across Perth and broader Western Australia delivers cascading social, economic, and environmental benefits that lift up the entire community. With more than $4 million in remaining funding allocated for the program, thousands more eligible residents are still able to claim the rebate before the program’s allocated funds are exhausted.

  • Real Madrid coach Alvaro Arbeloa says will leave post

    Real Madrid coach Alvaro Arbeloa says will leave post

    In a confirmation that has sent ripples through European football, Real Madrid’s interim head coach Alvaro Arbeloa announced Friday that he will step down from his position at the end of the current campaign, which has ended without a single trophy for the Spanish giants.

    When pressed by reporters at a press conference to confirm widespread speculation that he would not return for the 2025-26 season, Arbeloa gave a direct affirmative answer. The confirmation comes amid persistent, high-profile reports that veteran Portuguese manager Jose Mourinho is on the brink of making a sensational return to the Santiago Bernabeu to take over the top job.

    Arbeloa’s tenure at the helm of Los Blancos wraps up this weekend, when the club hosts Athletic Bilbao in its final La Liga fixture of what has widely been described as a turbulent, underwhelming season. The former Real Madrid full-back was hand-picked by club president Florentino Perez back in January to step into the role following Xabi Alonso’s departure to take over Bayern Munich, but his short stint in charge never delivered the silverware the club demanded.

    Now, with Mourinho widely expected to step into Arbeloa’s role, the departing coach made clear he has no interest in joining the new manager’s technical staff should the appointment go through. “Mou has a fantastic technical team, he’s got good people around him,” Arbeloa explained to reporters. “If he comes to Madrid he will come with his team. There’s no chance that I would be with him.”

    As for what comes next for his career, Arbeloa admitted he has not yet mapped out his future plans. “Then, my future… from Monday I’ll think about that,” he said.

    The 42-year-old has deep, longstanding ties to Real Madrid, having played for the first team between 2009 and 2016 before moving into coaching within the club’s youth academy. He framed his impending exit as a temporary parting rather than a permanent goodbye to the club he considers his lifelong home.

    “I hope it’s a see you later… I’ve always considered this my home, I’ve belonged to Madrid for 20 years in various roles,” Arbeloa said. “It will be my last game this season as coach of Real Madrid, I don’t know if it will be the last game of my life as coach of Real Madrid. We never know. I’ll try and enjoy it and try to get the win.”

  • NATO ministers sound out US on Trump’s ‘confusing’ troop moves

    NATO ministers sound out US on Trump’s ‘confusing’ troop moves

    As senior diplomats from across NATO gathered in the southern Swedish city of Helsingborg for a critical pre-summit meeting on Friday, European member states moved quickly to press U.S. Secretary of State Marco Rubio for clear answers on the Trump administration’s rapidly shifting plans for troop deployments across the continent. The talks were framed by a urgent goal: defusing growing tensions with President Donald Trump over Washington’s Iran policy, and smoothing over rifts before the alliance’s high-stakes July leaders’ summit scheduled for Ankara, Turkey.

    The confusion that dominated the meeting was sparked by Trump himself. Just as foreign ministers convened, the U.S. president announced he would deploy 5,000 additional troops to Poland, a sudden reversal of an earlier plan that had been scrapped by the White House. While the sudden shift drew public praise from NATO Secretary General Mark Rutte and Poland’s foreign minister, it stoked quiet but widespread concern among allies about a growing lack of strategic coordination between Washington and its European partners.

    “It is confusing indeed, and not always easy to navigate,” Swedish Foreign Minister Maria Malmer Stenergard told reporters on the sidelines of the gathering. The latest about-face came only weeks after Trump abruptly announced he would withdraw 5,000 U.S. troops from Germany, amid a high-profile public dispute with German Chancellor Friedrich Merz.

    Speaking to his NATO counterparts, Rubio pushed back against suggestions that the troop adjustments were intended to punish European allies, framing the moves as routine strategic planning. “All decisions on force posture are not punitive,” Rubio said. “We constantly need to reexamine our deployments to meet our evolving global security needs.”

    Many NATO ministers acknowledged that gradual U.S. force drawdowns in Europe were expected, as Washington reorients its military focus to other global threat hotspots and European allies have pledged to take on greater responsibility for their own territorial defense. But leaders stressed that any changes need to follow a predictable, structured framework to give European governments time to build up their own military capacity. “What is important is that it happens in a structured manner, so that Europe is able to build up when the US reduces its presence,” Norwegian Foreign Minister Espen Barth Eide noted.

    The Helsingborg meeting was called specifically to address Trump’s repeated public criticism of European allies over their response to his ongoing conflict with Iran, which has included open threats from the president that he could consider pulling the United States out of the 75-year-old alliance entirely. Diplomats told reporters the core goal of the pre-summit talks was to move past current disagreements and set a unified tone for the Ankara gathering, where allies plan to highlight their progress in meeting increased defense spending pledges they made to Trump last year.

    “The president’s views, frankly disappointment, at some of our NATO allies and their response to our operations in the Middle East — they’re well documented — that will have to be addressed,” Rubio told reporters. He added that the upcoming Ankara summit would be “probably one of the more important leaders’ summits in the history of NATO.”

    In a bid to ease tensions with Washington, a number of European allies have already repositioned naval vessels closer to the Middle East, with plans to assist security operations in the Strait of Hormuz once the Iran conflict concludes. “Europeans have heard the message,” Rutte affirmed. German Foreign Minister Johann Wadephul also clarified that Berlin does not expect NATO to launch an independent alliance-led military mission in the region.

    Trump’s second term in office has already brought a string of unexpected crises for the transatlantic alliance, including a tense standoff last year when the president openly mused about seizing Greenland from Denmark. Now, the ongoing fallout from the Iran war threatens to overshadow the entire Ankara summit, which NATO leaders had hoped would focus on demonstrating progress toward the commitment European allies made last year: increasing collective defense spending to 5% of GDP by 2030. Diplomats confirmed that a wave of major new arms purchases are being finalized in time for the summit, to show Trump that allies are following through on their promises with tangible action.

    Beneath the public scramble to accommodate Trump’s demands, there is a growing quiet consensus among European capitals that the bloc must take increasing responsibility for its own security. Led by Germany, which has ramped up military spending dramatically in recent years, European allies are taking a more assertive stance, though current discussions center on integrating greater European leadership into the existing NATO framework rather than building a separate independent defense alliance.

    “As the US reevaluates its level of engagement and presence in Europe within the alliance, it is exactly the opportunity… to Europeanise NATO,” French Foreign Minister Jean-Noel Barrot said.

    One area where Europe has already begun to take greater independent action is in its long-term support for Ukraine, which remains a core unifying priority for the alliance. Rutte is currently pushing allies to increase commitments to supply weapons to Kyiv, and recently floated a plan that would require all European NATO members and Canada to commit 0.25% of their annual GDP to arms purchases for Ukraine. However, the NATO chief acknowledged that the proposal was quickly rejected by a number of key allies, including major European economies like France, Spain, and Italy, which have already been criticized for contributing less than their fair share to the Ukraine effort.

    “What I want to achieve is that the burden is more evenly spread, that there is more burden sharing here,” Rutte said. “At the moment it is only six or seven allies who are doing the heavy lifting.”

  • Injury carnage: Bulldogs lose superstar forward to broken arm, Storm winger forced off with rib issue

    Injury carnage: Bulldogs lose superstar forward to broken arm, Storm winger forced off with rib issue

    The Canterbury Bulldogs’ already grim NRL season has taken another devastating turn, after their star starting forward Jacob Preston suffered a broken forearm in the opening minutes of their highly anticipated Friday clash against the Melbourne Storm, effectively dashing the club’s hopes of ending a five-match losing skid. Preston was forced to leave the pitch just 12 minutes into the first half of the game, after sustaining the injury that the club confirmed will rule him out of action for a minimum of several weeks. This latest setback comes at a brutal time for the Bulldogs, who have plummeted down the competition ladder after a shocking upset win over the premiers Panthers earlier in the season. The club has already been missing key forward Viliame Kikau for an extended period, after he suffered a season-disrupting torn pectoral muscle. With the State of Origin series approaching, which will pull top representative talent away from their NRL clubs, Canterbury’s recruitment and coaching staff now face an urgent scramble to find a replacement edge forward to fill the gap left by Preston’s injury. The Storm, who entered the match as clear favorites, were not immune to injury trouble of their own on Friday: starting winger Will Warbrick was pulled from the game midway through the first half after complaining of a rib injury. At the time of Warbrick’s exit, Melbourne held a comfortable 18-6 lead over the Bulldogs on the road.

  • NSW’s North Sydney Council unveils controversial plan to charge fees for hosting weddings, picnics in popular parks

    NSW’s North Sydney Council unveils controversial plan to charge fees for hosting weddings, picnics in popular parks

    One of Australia’s most sought-after suburban park networks, located in North Sydney, New South Wales, is moving toward implementing a new tiered fee structure for organized private and commercial events held on public green space, a policy crafted to address growing overuse, community access conflicts, and rising maintenance costs.

    Famous for its postcard-perfect harbourside landscapes that draw thousands of visitors and event planners annually, North Sydney’s parks have become one of the region’s most popular locations for social media-friendly gatherings, from wedding receptions to viral gender reveals and curated commercial pop-up picnics. The new proposal, unveiled by North Sydney Council, would require event hosts to pay scaled fees depending on the location of the park and the size and type of gathering, while keeping casual informal use and small community gatherings free of charge for local residents.

    In a statement released alongside the draft plan, a North Sydney Council spokesperson explained the rationale behind the proposed fee structure. “North Sydney’s parks and reserves are valued in-demand, community spaces used every day for exercise, relaxation, gatherings and events,” the spokesperson said. “The proposed approach is designed to support fair access, effective management and ongoing maintenance of public open space, while ensuring everyday use by individuals and small groups remain free. Casual and informal recreational use of parks will continue to be supported, with many smaller gatherings remaining free of charge.”

    Under the draft framework, all public parks and open spaces managed by the council will be sorted into three pricing categories based on popularity and scenic value. The highest-demand tier, labeled Category 1, includes iconic locations such as Copes Lookout, Captain Henry Waterhouse Reserve and Cremorne Point Reserve. Fees for events in these top-tier spaces reach as high as $2,000 for wedding dinners with up to 100 guests, while wedding receptions in the same parks are priced at $1,000. Smaller private gatherings of up to 21 people that require a reserved space will incur a $50 fee.

    The policy also extends beyond private social events. Commercial dog walkers will be required to pay an annual $300 licensing fee to use the parks, organized exercise groups will face stricter rules and new charges, and non-government schools will pay fees for school outings held on council parkland. A number of lower-demand parks, including Anzac Park, Brennan Park and Green Park, will remain free for informal gatherings of up to 60 people under the proposal.

    The council notes that the change comes after years of rising demand for organized events and commercial activity in public green space, which has led to growing conflicts between different user groups and accelerated wear and tear on park infrastructure. North Sydney faces a geographic limitation on available public open space, a problem exacerbated by the area’s growing population. All revenue generated from the new fees will be reinvested directly into ongoing park maintenance and infrastructure upgrades to preserve the green spaces for future use.

    If the draft plan receives final council approval, rangers will be tasked with enforcing the new rules, ensuring all organized events obtain the required permits and pay applicable fees before taking place. The new structure is scheduled to go into effect on July 1 if approved. The full draft plan, including the complete list of park categories and all proposed fees, is available for public review and comment at yoursay.northsydney.nsw.gov.au/fees-charges-open-space.

  • ‘Disappointing’: Rex Airlines axes flights in Tasmania and Victoria as fuel costs soar

    ‘Disappointing’: Rex Airlines axes flights in Tasmania and Victoria as fuel costs soar

    Australia’s largest independent regional airline, Rex Airlines, has delivered a fresh blow to domestic regional connectivity, announcing it will eliminate and scale back several cross-state routes between Victoria and Tasmania starting later this month, citing runaway fuel costs as the primary driver of the decision.

    In a public statement released Friday, the carrier confirmed two routes will cease operations entirely from June 20: Melbourne to Devonport, and King Island to Burnie. Starting two days later on June 22, the airline will also cut weekly service frequency on three additional regional routes: Melbourne to Mildura, Melbourne to Burnie, and Melbourne to King Island.

    A spokesperson for Rex explained that the unpredictable volatility of the current operating environment, paired with persistently rising fuel expenses, left the airline with no other option to maintain operational sustainability. The company moved quickly to reassure impacted passengers that all ticketholders for canceled services will be fully supported, with full refunds or free rebooking onto alternative Rex services available with no hidden fees.

    Federal Infrastructure and Transport Minister Kerry Vincent acknowledged that the exit from the Devonport route is disappointing, but moved quickly to ease public concern, noting that competitor Qantas already maintains multiple daily services on the route that will continue to meet traveler demand. Vincent added that route adjustments have become increasingly common across the entire Australian aviation sector, especially for smaller regional services that are far more exposed to sudden cost swings than high-traffic trunk routes between major cities.

    “We understand how critical these air links are for local residents, small businesses, and the tourism economy that supports many of these regional communities,” Vincent said. “Any break in air connectivity hits regional areas disproportionately hard, and we recognize the anxiety and disruption this decision will cause for people who rely on Rex’s services.”

    Nationals Party MP Anne Webster, who represents the Mildura region, echoed that disappointment in comments to the Australian Broadcasting Corporation, noting that even a reduction in service frequency at Mildura Airport—Victoria’s largest regional air facility—creates significant inconvenience for local residents. Mildura is the most geographically isolated population center in Victoria, making reliable air service a critical lifeline for the region’s 50,000-plus residents and the broader Sunraysia agricultural district.

    Webster noted that Qantas and Rex currently operate competing schedules out of Mildura, and she called on both carriers to adjust their timetables to fill the gap left by Rex’s cuts, in order to preserve travel choice for local people.

    The cuts mark the latest round of route restructuring for Australian regional carriers, which have struggled to recover from pandemic-era travel shutdowns while absorbing sharp increases in jet fuel and labor costs over the past two years. Industry analysts note that small regional routes, which often operate with lower passenger volumes and smaller aircraft, are the first to be cut when input costs rise, as carriers are unable to pass full price increases onto consumers without driving away demand.

  • ASX posts second weekly gain in past six weeks as miners, Guzman Y Gomez lift sharemarket while telcos and utilities fall

    ASX posts second weekly gain in past six weeks as miners, Guzman Y Gomez lift sharemarket while telcos and utilities fall

    After navigating a period of volatile market conditions, Australia’s domestic sharemarket has closed out the trading week with a modest but stabilizing gain, lifted by strong performances in mining and materials stocks even as telecommunications, utilities and real estate sectors dragged on overall growth.

    The benchmark S&P/ASX 200 index climbed 0.41% on Friday alone, settling at 8,657 points for a 35.3-point daily gain. This uptick pushed the index to a 0.3% weekly increase, marking the second weekly gain the benchmark has recorded over the past six weeks. The broader All Ordinaries index matched the ASX 200’s 0.41% daily rise, while the Small Ordinaries index outperformed broader markets with a 1.1% gain by market close.

    For the full week, consumer stocks and financial services emerged as the top-performing segments. This strength was fueled by recent increases in national unemployment, which have softened market expectations that the Reserve Bank of Australia will implement additional interest rate hikes in the coming months.

    Friday’s trading session saw dramatic gains across uranium equities, with Paladin Energy rising 5.9%, Silex Systems jumping 6%, and Bannerman Energy surging 6.7%. Broader materials sector stocks also rallied, following a 9% sector-wide pullback that ran from May 12 to Wednesday’s market low, creating favorable entry points for investors. Rising global copper prices lifted mining stocks: Sandfire Resources gained 3.5% and Capstone Copper added 3.1%, after investment bank UBS upgraded its bullish outlook for copper, raising its three-year price forecasts by 13%, 4% and 3% respectively. Tight global supply, growing long-term demand from electric vehicle production, and power requirements for AI data centers are the key forces driving upward pressure on copper prices, UBS noted.

    On the downside, the telecommunications sector posted steep losses on Friday. Telecom giant Telstra dropped 1.5%, property portal REA Group fell 4.1%, and employment platform Seek declined 5.8%. The sector’s most dramatic story came from Tuas, which saw a rollercoaster week: the firm plummeted 62% on Monday after revelations it was under investigation for a subsidiary’s alleged illegal use of unlicensed radio frequencies in Singapore, and the Singaporean government blocked a planned regional acquisition. By Friday, Tuas confirmed that the acquisition conditions had not been met and all parties had mutually walked away from the deal. The stock clawed back small losses in afternoon trading to close unchanged at $2.31 for the day. (NewsCorp, the parent company of newswire service that published this report, is the majority owner of REA Group.)

    Utilities also weighed heavily on Friday’s trading: Origin Energy fell 1.8% and Mercury NZ dropped 2.8%. Financials delivered a mixed performance: Insurance Australia Group declined 3.4% after receiving a regulatory warning tied to the collapse of financier Greensill Capital, while QBE Insurance fell 1.3%. All of Australia’s big four retail banks posted solid gains between 0.5% and 0.9% for the day.

    One of the session’s most notable single-stock moves came from Mexican fast-food chain Guzman Y Gomez, whose shares surged as much as 20.6% in early trading after the company announced it would immediately close all of its underperforming United States store locations. The stock closed the day up 9.6% following the announcement.

    Josh Gilbert, market analyst at retail trading platform eToro, explained that Guzman Y Gomez had long been one of the most shorted stocks on the ASX, as investors lost confidence in the company’s US expansion strategy long before Friday’s announcement. “What markets don’t forgive is open-ended losses with no end in sight, and that’s what the company’s US operations had become,” Gilbert noted.

    Looking ahead to next week, all market eyes will turn to Australia’s monthly inflation report, due for release on Wednesday. Economists forecast that headline inflation will ease to 4.4%, though the closely watched trimmed mean measure of core inflation is expected to tick slightly higher from 3.3% to 3.4%.