Hanwright — the beginning of the saga Old school chums Lang Hancock and Peter Wright formed a business partnership in the 1930s centred on prospecting, which according to legend was sealed by a handshake. Peter Wright and Lang Hancock in the 1960s. (ABC News) Mr Wright was the reserved accountant, Mr Hancock the brash prospector and pastoralist, and together they would …

Former prime minister Malcolm Turnbull says the Liberals must find votes in the centre rather than “chasing One Nation down that right wing populist burrow”. Mr Turnbull has lamented his old party’s shift to the right since he left politics, saying it has stopped talking policy and become preoccupied with culture wars. He said on Friday the bid to stop …

US President Donald Trump has singled out Australia while accusing a string of allies of failing to help secure the Strait of Hormuz amid the ongoing conflict with Iran. “Australia was not great. I was a little surprised by Australia,” the US president told a lengthy cabinet meeting in Washington. The criticism, which Prime Minister Anthony Albanese has brushed off, came …

The Trump administration has offered a 15-point ceasefire plan to Iran as the US military prepares to call up at least 1,000 more troops to supplement the 50,000 already in the Middle East. According to a person briefed on the proposal, the plan was submitted to Iran by intermediaries from Pakistan, who have offered to host renewed negotiations between Washington …

Fuel companies will soon face bigger fines for ripping off motorists,  as senior government figures distance themselves from secret advice suggesting a $40 cap at the petrol pump to combat shortages. Legislation doubling fines for false and misleading conduct and cartel behaviour to a maximum of $100 million has been introduced into parliament. While the bill applies across all areas …

Prime Minister Anthony Albanese has been booed and heckled at Australia’s biggest mosque on one of the most important dates on the Islamic calendar, with police removing one protester. Thousands of people lined the streets surrounding Lakemba Mosque in Sydney’s west on Friday morning as they took part in morning prayers ahead of Eid al-Fitr celebrations. Albanese was invited to …

The government has alluded to a “national crisis” and emergency fuel reserves have been released following major international shocks to the global fuel supply from the war in the Middle East. Climate Change and Energy Minister Chris Bowen announced this week that the government will be temporarily lowering fuel quality standards for 60 days to allow higher-sulphur fuel to be sold. They …

The Reserve Bank has increased interest rates by 0.25 percentage points. The new cash rate is 4.1 per cent, up from 3.85 per cent. The RBA has now lifted rates twice in two months (once in February, and again in March). Today’s rate hike was highly anticipated. Early last week, RBA deputy governor Andrew Hauser said high inflation was “toxic” …

The Reserve Bank of Australia (RBA) has hiked interest rates by 0.25 of a percentage point. That means the cash rate is now 4.1 per cent. Leading economists predicted the hike, given inflation was already increasing ahead of the Middle East war, which has put more upward pressure on prices due to oil market disruptions. You can follow the reaction to the RBA’s …

Oil refineries, depots and tankers have all been key targets of US-Israeli and Iranian drone and missile strikes in the first weeks of the war in the Middle East. The attacks have driven oil prices higher internationally, prompting the International Energy Agency (IEA) to announce the release of 400 million barrels of oil from its 32-member countries. In Oman, Saudi …