Locals want to sink bid for new Olympic whitewater site
A community spokesman said the 'damn' whitewater facility should be hosted by Penrith where it was 'wanted', citing the Los Angeles 2028 Games.
At the LA Games, canoe slalom will be hosted about 3000 kilometres away in Oklahoma – almost triple the distance from Brisbane to Penrith.
'Not even the Americans are going to put a new whitewater facility in,' Redlands2030 Inc president Steven MacDonald told the committee hearing.
'We could follow the example of our American cousins and move the damn thing somewhere where it's wanted.'
A senate inquiry recommended Penrith as the 'first and only choice' for a 2032 whitewater venue, raising concerns a Redlands venue may become a 'white elephant'.
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The Queensland government rejected the concerns, opting to hold every 2032 Olympic event in the state.
Spence feared a Redlands whitewater facility would become an ongoing financial burden after the Games, questioning its viability.
'A whitewater stadium is the short straw of Olympic venues,' he said.
Spence was addressing committee hearings to allow consultation on a bill giving the Games infrastructure authority power to override 15 planning laws, including environmental protection and heritage acts.
The laws will ensure Olympic venue construction is not delayed by potential legal challenges, with the final planning sign-off given to the state government, not local councils.
Locals also raised environmental concerns on Monday, saying the proposed Birkdale site was next to two state heritage-listed sites and bushland home to endangered wildlife, including koalas.
They feared Olympic construction not subject to planning laws might destroy the heritage sites and impact healthy koala colonies.
'By setting aside these laws and protections, the state government is choosing to deny democracy and the rights of communities everywhere to have a voice,' Spence said.
The proposed Redlands site will be only the second world-class whitewater facility built in Australia after the Penrith venue was constructed for Sydney 2000, becoming the Fox sisters' home course.
Peak body Paddle Australia was ecstatic about the plan, with chief executive Kim Crane hoping locals would embrace the facility and help build competitor depth.
'We have been craving an additional course. We have been punching above our weight with one,' Crane said in March.
'We will now be able to secure more international events – it's a real legacy.'
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Israeli authorities reported that more than 80 people suffered mostly minor injuries, though one multi-storey building in Tel Aviv was significantly damaged, with its facade torn away exposing the apartments inside. Houses across the street were almost completely destroyed. Following the Iranian barrage, Israel's military said it had "swiftly neutralised" the Iranian missile launchers that had fired, and that it had begun a series of strikes toward military targets in western Iran. Iran has maintained its nuclear program is for peaceful purposes only. However, Trump and Israeli leaders have argued it could quickly assemble a nuclear weapon, making it an imminent threat. The decision to directly involve the US in the war comes after more than a week of Israeli strikes that significantly degraded Iran's air defences and offensive missile capabilities, and damaged its nuclear enrichment facilities. 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Satellite images are showing damage to Iran's underground nuclear site at Fordo, one of three facilities targetted by US airstrikes, in alliance with Israel's mission to destroy its foe's nuclear program. The images by Planet Labs PBC showed damage to the site's entryways and also to the mountain that Fordo is under. Sealing those entry tunnels means that Iran would have to dig out the facility to reach anything inside. In an address to the nation from the White House, US President Donald Trump asserted that Iran's key nuclear sites had been "completely and fully obliterated". Trump warned there would be additional strikes if Tehran retaliated against US forces. "There will either be peace or there will be tragedy for Iran," he said. The Atomic Energy Organisation of Iran confirmed that attacks took place on its Fordo, Isfahan and Natanz sites, but insisted that its nuclear program will not be stopped. The International Atomic Energy Agency said there were no immediate signs of radioactive contamination at the three locations following the strikes. Chief Rafael Grossi, has convened an emergency meeting of the nuclear watchdog. Leaders and international organisations around the globe are appealing for diplomacy to de-escalate the conflict. But Iran's Foreign Minister Abbas Araghchi posted on X that the US strikes had 'launched a dangerous war' and blown up any possibility of diplomacy with the Americans or Europeans. "Last week, we were in negotiations with the US when Israel decided to blow up that diplomacy. This week, we held talks with the E3/EU when the US decided to blow up that diplomacy," Araghchi wrote on X. "What conclusion would you draw?" Hours after the US attacks, Iran's paramilitary Revolutionary Guard said it launched a barrage of 40 missiles at Israel, including its Khorramshahr-4, which can carry multiple warheads. Israeli authorities reported that more than 80 people suffered mostly minor injuries, though one multi-storey building in Tel Aviv was significantly damaged, with its facade torn away exposing the apartments inside. Houses across the street were almost completely destroyed. Following the Iranian barrage, Israel's military said it had "swiftly neutralised" the Iranian missile launchers that had fired, and that it had begun a series of strikes toward military targets in western Iran. Iran has maintained its nuclear program is for peaceful purposes only. However, Trump and Israeli leaders have argued it could quickly assemble a nuclear weapon, making it an imminent threat. The decision to directly involve the US in the war comes after more than a week of Israeli strikes that significantly degraded Iran's air defences and offensive missile capabilities, and damaged its nuclear enrichment facilities. After the airstrikes the US president posted: "This is an HISTORIC MOMENT FOR THE UNITED STATES OF AMERICA, ISRAEL, AND THE WORLD. IRAN MUST NOW AGREE TO END THIS WAR. THANK YOU!" Israel announced Sunday that it had closed its airspace to both inbound and outbound flights in the wake of the US attacks. The attack used bunker-buster bombs on Iran's Fordo nuclear fuel enrichment plant built deep into a mountain, a US official said. In addition, US submarines launched about 30 Tomahawk missiles. The decision to attack, taken without congressional approval, was a risky one for Trump, who won the White House partially on the promise of keeping the US out of costly foreign conflicts. But Trump also vowed that he would not allow Iran to obtain a nuclear weapon. After Israel began striking Iran, Trump went from publicly expressing hope that the moment could be a "second chance" for Iran to make a deal to delivering explicit threats on Khamenei and making calls for Tehran's unconditional surrender. Israeli Prime Minister Benjamin Netanyahu praised Trump's decision saying the US "has done what no other country on earth could do." Iranian-backed Houthi rebels in Yemen, who had threatened to resume attacks on US vessels in the Red Sea if the Trump administration joined Israel's military campaign, called on other Muslim nations to form "one front against the Zionist-American arrogance." Israeli strikes on Iran have killed at least 865 people and wounded 3,396 others, according to the Washington-based group Human Rights Activists. The group said of those dead, it identified 363 civilians and 215 security force personnel. Satellite images are showing damage to Iran's underground nuclear site at Fordo, one of three facilities targetted by US airstrikes, in alliance with Israel's mission to destroy its foe's nuclear program. The images by Planet Labs PBC showed damage to the site's entryways and also to the mountain that Fordo is under. Sealing those entry tunnels means that Iran would have to dig out the facility to reach anything inside. In an address to the nation from the White House, US President Donald Trump asserted that Iran's key nuclear sites had been "completely and fully obliterated". Trump warned there would be additional strikes if Tehran retaliated against US forces. "There will either be peace or there will be tragedy for Iran," he said. The Atomic Energy Organisation of Iran confirmed that attacks took place on its Fordo, Isfahan and Natanz sites, but insisted that its nuclear program will not be stopped. The International Atomic Energy Agency said there were no immediate signs of radioactive contamination at the three locations following the strikes. Chief Rafael Grossi, has convened an emergency meeting of the nuclear watchdog. Leaders and international organisations around the globe are appealing for diplomacy to de-escalate the conflict. But Iran's Foreign Minister Abbas Araghchi posted on X that the US strikes had 'launched a dangerous war' and blown up any possibility of diplomacy with the Americans or Europeans. "Last week, we were in negotiations with the US when Israel decided to blow up that diplomacy. This week, we held talks with the E3/EU when the US decided to blow up that diplomacy," Araghchi wrote on X. "What conclusion would you draw?" Hours after the US attacks, Iran's paramilitary Revolutionary Guard said it launched a barrage of 40 missiles at Israel, including its Khorramshahr-4, which can carry multiple warheads. Israeli authorities reported that more than 80 people suffered mostly minor injuries, though one multi-storey building in Tel Aviv was significantly damaged, with its facade torn away exposing the apartments inside. Houses across the street were almost completely destroyed. Following the Iranian barrage, Israel's military said it had "swiftly neutralised" the Iranian missile launchers that had fired, and that it had begun a series of strikes toward military targets in western Iran. Iran has maintained its nuclear program is for peaceful purposes only. However, Trump and Israeli leaders have argued it could quickly assemble a nuclear weapon, making it an imminent threat. The decision to directly involve the US in the war comes after more than a week of Israeli strikes that significantly degraded Iran's air defences and offensive missile capabilities, and damaged its nuclear enrichment facilities. After the airstrikes the US president posted: "This is an HISTORIC MOMENT FOR THE UNITED STATES OF AMERICA, ISRAEL, AND THE WORLD. IRAN MUST NOW AGREE TO END THIS WAR. THANK YOU!" Israel announced Sunday that it had closed its airspace to both inbound and outbound flights in the wake of the US attacks. The attack used bunker-buster bombs on Iran's Fordo nuclear fuel enrichment plant built deep into a mountain, a US official said. In addition, US submarines launched about 30 Tomahawk missiles. The decision to attack, taken without congressional approval, was a risky one for Trump, who won the White House partially on the promise of keeping the US out of costly foreign conflicts. But Trump also vowed that he would not allow Iran to obtain a nuclear weapon. After Israel began striking Iran, Trump went from publicly expressing hope that the moment could be a "second chance" for Iran to make a deal to delivering explicit threats on Khamenei and making calls for Tehran's unconditional surrender. Israeli Prime Minister Benjamin Netanyahu praised Trump's decision saying the US "has done what no other country on earth could do." Iranian-backed Houthi rebels in Yemen, who had threatened to resume attacks on US vessels in the Red Sea if the Trump administration joined Israel's military campaign, called on other Muslim nations to form "one front against the Zionist-American arrogance." Israeli strikes on Iran have killed at least 865 people and wounded 3,396 others, according to the Washington-based group Human Rights Activists. The group said of those dead, it identified 363 civilians and 215 security force personnel.
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Prince Harry eyeing Royal Family reunion, extending invite to next Invictus Games but scheduling could be conflicting
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7 hours ago
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Investors brace for oil price spike after Iran attack
The US attack on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors say as they assess how the latest escalation of tensions will ripple through the global economy. The attack, announced by President Donald Trump on social media site Truth Social, deepens US involvement in the Middle East conflict. That was the question going into the weekend, when investors were mulling a host of different market scenarios. In the immediate aftermath of the announcement, they expected the US involvement was likely to cause a sell-off in equities and a possible bid for the dollar and other safe-haven assets when trading began, but also said much uncertainty about the course of the conflict remained. "I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital. "We don't have any damage assessment and that will take some time. "Even though he has described this as 'done', we're engaged. What comes next?" Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil." Spindel, however, said there was time to digest the news before markets opened. A key concern for markets would centre around the potential impact of the developments in the Middle East on oil prices and thus on inflation. A rise in inflation could dampen consumer confidence and lessen the chance of near-term US interest rate cuts. "This adds a complicated new layer of risk that we'll have to consider and pay attention to," said Jack Ablin, chief investment officer of Cresset Capital. "This is definitely going to have an impact on energy prices and potentially on inflation as well." While global benchmark Brent crude futures have risen as much as 18 per cent since June 10, hitting an almost five-month high of $US79.04 ($A121.82) on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June 13. Before the US attack on Saturday, analysts at Oxford Economics modelled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, "each with increasingly large impacts on global oil prices". In the most severe case, global oil prices jump to about $US130 ($A200) per barrel, driving US inflation close to six per cent by the end of 2025, Oxford said in the note. "Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the US this year," Oxford said in the note, published before the US strikes. Economists warn a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs. An escalation in the conflict could have mixed implications for the US dollar, which has tumbled amid worries over diminished US exceptionalism. In the event of US direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said. "Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much. It will depend on Iranian reaction and whether oil prices spike." The US attack on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors say as they assess how the latest escalation of tensions will ripple through the global economy. The attack, announced by President Donald Trump on social media site Truth Social, deepens US involvement in the Middle East conflict. That was the question going into the weekend, when investors were mulling a host of different market scenarios. In the immediate aftermath of the announcement, they expected the US involvement was likely to cause a sell-off in equities and a possible bid for the dollar and other safe-haven assets when trading began, but also said much uncertainty about the course of the conflict remained. "I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital. "We don't have any damage assessment and that will take some time. "Even though he has described this as 'done', we're engaged. What comes next?" Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil." Spindel, however, said there was time to digest the news before markets opened. A key concern for markets would centre around the potential impact of the developments in the Middle East on oil prices and thus on inflation. A rise in inflation could dampen consumer confidence and lessen the chance of near-term US interest rate cuts. "This adds a complicated new layer of risk that we'll have to consider and pay attention to," said Jack Ablin, chief investment officer of Cresset Capital. "This is definitely going to have an impact on energy prices and potentially on inflation as well." While global benchmark Brent crude futures have risen as much as 18 per cent since June 10, hitting an almost five-month high of $US79.04 ($A121.82) on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June 13. Before the US attack on Saturday, analysts at Oxford Economics modelled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, "each with increasingly large impacts on global oil prices". In the most severe case, global oil prices jump to about $US130 ($A200) per barrel, driving US inflation close to six per cent by the end of 2025, Oxford said in the note. "Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the US this year," Oxford said in the note, published before the US strikes. Economists warn a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs. An escalation in the conflict could have mixed implications for the US dollar, which has tumbled amid worries over diminished US exceptionalism. In the event of US direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said. "Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much. It will depend on Iranian reaction and whether oil prices spike." The US attack on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors say as they assess how the latest escalation of tensions will ripple through the global economy. The attack, announced by President Donald Trump on social media site Truth Social, deepens US involvement in the Middle East conflict. That was the question going into the weekend, when investors were mulling a host of different market scenarios. In the immediate aftermath of the announcement, they expected the US involvement was likely to cause a sell-off in equities and a possible bid for the dollar and other safe-haven assets when trading began, but also said much uncertainty about the course of the conflict remained. "I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital. "We don't have any damage assessment and that will take some time. "Even though he has described this as 'done', we're engaged. What comes next?" Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil." Spindel, however, said there was time to digest the news before markets opened. A key concern for markets would centre around the potential impact of the developments in the Middle East on oil prices and thus on inflation. A rise in inflation could dampen consumer confidence and lessen the chance of near-term US interest rate cuts. "This adds a complicated new layer of risk that we'll have to consider and pay attention to," said Jack Ablin, chief investment officer of Cresset Capital. "This is definitely going to have an impact on energy prices and potentially on inflation as well." While global benchmark Brent crude futures have risen as much as 18 per cent since June 10, hitting an almost five-month high of $US79.04 ($A121.82) on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June 13. Before the US attack on Saturday, analysts at Oxford Economics modelled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, "each with increasingly large impacts on global oil prices". In the most severe case, global oil prices jump to about $US130 ($A200) per barrel, driving US inflation close to six per cent by the end of 2025, Oxford said in the note. "Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the US this year," Oxford said in the note, published before the US strikes. Economists warn a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs. An escalation in the conflict could have mixed implications for the US dollar, which has tumbled amid worries over diminished US exceptionalism. In the event of US direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said. "Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much. It will depend on Iranian reaction and whether oil prices spike." The US attack on Iranian nuclear sites could lead to a knee-jerk reaction in global markets when they reopen, sending oil prices higher and triggering a rush to safety, investors say as they assess how the latest escalation of tensions will ripple through the global economy. The attack, announced by President Donald Trump on social media site Truth Social, deepens US involvement in the Middle East conflict. That was the question going into the weekend, when investors were mulling a host of different market scenarios. In the immediate aftermath of the announcement, they expected the US involvement was likely to cause a sell-off in equities and a possible bid for the dollar and other safe-haven assets when trading began, but also said much uncertainty about the course of the conflict remained. "I think the markets are going to be initially alarmed, and I think oil will open higher," said Mark Spindel, chief investment officer at Potomac River Capital. "We don't have any damage assessment and that will take some time. "Even though he has described this as 'done', we're engaged. What comes next?" Spindel said. "I think the uncertainty is going to blanket the markets, as now Americans everywhere are going to be exposed. It's going to raise uncertainty and volatility, particularly in oil." Spindel, however, said there was time to digest the news before markets opened. A key concern for markets would centre around the potential impact of the developments in the Middle East on oil prices and thus on inflation. A rise in inflation could dampen consumer confidence and lessen the chance of near-term US interest rate cuts. "This adds a complicated new layer of risk that we'll have to consider and pay attention to," said Jack Ablin, chief investment officer of Cresset Capital. "This is definitely going to have an impact on energy prices and potentially on inflation as well." While global benchmark Brent crude futures have risen as much as 18 per cent since June 10, hitting an almost five-month high of $US79.04 ($A121.82) on Thursday, the S&P 500 has been little changed, following an initial drop when Israel launched its attacks on Iran on June 13. Before the US attack on Saturday, analysts at Oxford Economics modelled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, "each with increasingly large impacts on global oil prices". In the most severe case, global oil prices jump to about $US130 ($A200) per barrel, driving US inflation close to six per cent by the end of 2025, Oxford said in the note. "Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the US this year," Oxford said in the note, published before the US strikes. Economists warn a dramatic rise in oil prices could damage a global economy already strained by Trump's tariffs. An escalation in the conflict could have mixed implications for the US dollar, which has tumbled amid worries over diminished US exceptionalism. In the event of US direct engagement in the Iran-Israel war, the dollar could initially benefit from a safety bid, analysts said. "Do we see a flight to safety? That would signal yields going lower and the dollar getting stronger," said Steve Sosnick, chief market strategist at IBKR in Greenwich, Connecticut. "It's hard to imagine stocks not reacting negatively and the question is how much. It will depend on Iranian reaction and whether oil prices spike."
