Morning Briefing
Iran's supreme leader Ali Khamenei is dead and buried — and his funeral in Tehran featured open calls for the killing of Donald Trump, while his likely successor son Mojtaba has still not appeared in public. The geopolitical shockwaves from the US-Israel-Iran war are still very much live, and the new regime's shape remains dangerously unclear.
What Matters Today
- Iran's funeral, Trump's name in the crosshairs: Khamenei's state funeral drew massive crowds in Tehran, with chants calling for Trump's assassination. Mojtaba Khamenei — widely expected to be the next supreme leader — was conspicuously absent, deepening uncertainty about who actually runs Iran right now. Guardian AU
- FIFA throws out Balogun's red card ban — after Trump calls it in: US striker Folarin Balogun had his one-game suspension overturned by FIFA ahead of the USA-Belgium World Cup last-16 tie. FIFA insists it followed proper process; Belgium is astonished; Trump is taking a victory lap. The integrity question here is enormous. ABC News
- Australia wins the Women's T20 World Cup: The Aussies crushed England by seven wickets at Lord's, with Beth Mooney hitting a half-century in her third World Cup final. A proper dominant performance and a feel-good story to start the week. Guardian AU
- AustralianSuper is back in coal — what happened to net zero?: Australia's biggest super fund dumped Whitehaven Coal shares in 2020 with much fanfare. It's now the company's single largest investor. If you've got your super with them, worth knowing. Guardian AU
- Queensland mining vs. the environment: The LNP state government is reviewing environmental "red tape" around mining, with fears that Queensland taxpayers could end up footing the bill for mine cleanup if bonding requirements are weakened. Critical minerals opportunity or liability transfer? Guardian AU
- Murray-Darling rivers in crisis: The Minns government's promise to restore flows is in doubt, with graziers warning towns could run out of water and mass fish deaths feared. Federal funding uncertainty is the sticking point. Guardian AU
- Chemical accidents up 50% as Trump weakens safety rules: The US has seen a near-50% rise in chemical accidents causing injuries or deaths in recent years — and the Trump administration is now proposing to roll back the safety regulations designed to prevent them. Ars Technica
Markets
Wall Street had a rough session — the S&P 500 dropped 1.66% and the NASDAQ got hammered 4.66%, likely driven by geopolitical jitters around Iran and ongoing rate uncertainty. The ASX 200 bucked the trend with a solid 0.67% gain, and the Nikkei surged nearly 2%, suggesting Asian markets are shrugging off US weakness for now. The AUD took a serious hit, down 3.28% to 0.694 against the USD — that's a meaningful move worth watching if you're buying anything priced in US dollars. Gold fell 3.45% which is unusual in a risk-off environment and suggests some forced selling or dollar strength at play. Crypto was the standout: Bitcoin up 2.87% but Ethereum absolutely ripped, gaining 12.29% — something's moving in ETH specifically, whether it's ETF flows or a protocol catalyst worth digging into.
Worth a Read
- How Iran's new regime is very different to what came before — With Khamenei buried and Mojtaba still in the shadows, the BBC has a sharp explainer on what the new Iranian leadership actually wants and how the power structure has shifted. Essential context for everything unfolding right now. BBC World
- Coal is back in AustralianSuper's portfolio — The Guardian's piece on how Australia's biggest super fund quietly reversed its ESG stance on Whitehaven Coal is genuinely eye-opening. The gap between institutional net-zero pledges and actual portfolio behaviour has never looked wider. Guardian AU
- Bomb the Arctic, dam the Mediterranean: five outlandish geoengineering plans — Tim Flannery runs through some of history's wildest climate intervention ideas. It's part alarming, part fascinating — and with serious scientists now reconsidering geoengineering, less fringe than it sounds. Guardian AU
- Mystery space balls wash up on Queensland beach — Six pieces of space debris found on Forrest Beach in Queensland, and officials are scrambling to identify the origin. Debris from a rocket? A satellite? Worth following as the investigation develops. BBC World