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Australia plans law forcing Google, Facebook to share ad revenue with domestic media firms – TheChronicleHerald.ca

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SYDNEY (Reuters) – Australia will pass legislation within months obliging Facebook Inc and Alphabet Inc’s Google to share advertising revenue with local media firms, the country’s treasurer said on Monday, becoming one of the first countries to require digital platforms to pay for content they use.

Treasurer Josh Frydenberg said in a statement the move comes after talks with Facebook and Alphabet failed to yield a voluntary code to address complaints by domestic media players that the tech giants have too tight a grip on advertising, their main source of income.

“On the fundamental issue of payment for content, which the code was seeking to resolve, there was no meaningful progress,” the treasurer said in a separate opinion piece in The Australian newspaper.

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Australia’s online advertising market is worth about worth almost A$9 billion ($5.72 billion) a year and has grown more than eight-fold since 2005, Frydenberg wrote. For every A$100 spent on online advertising in Australia, excluding classifieds, nearly a third goes to Google and Facebook.

Last December, Australia said Google and Facebook would have to agree to new rules to ensure they do not abuse their market power and damage competition, or the government would impose new controls.

On Monday Frydenberg said the government has now asked the country’s competition watchdog, the Australian Competition and Consumer Commission (ACCC) to develop a mandatory code of conduct between media outlets and digital platforms.

The initial plan to come up a voluntary code by November has been scrapped, Frydenberg said. The ACCC will submit its draft mandatory code by July, to be passed into legislation shortly thereafter, he said.

“The problem with that is that some of that information they are providing consumers for free has come from people who have invested a lot of money in journalism and the case of media to provide that content,” ACCC Chairman Rod Sims told the Australian Broadcasting Corporation.

Facebook expressed dismay at the government move on Monday.

“We’re disappointed by the government’s announcement, especially as we’ve worked hard to meet their agreed deadline,” Facebook said.

“We’ve invested millions of dollars locally to support Australian publishers through content arrangements, partnerships and training for the industry,” Facebook Australia and New Zealand Managing Director Will Easton said in an emailed statement.

Google said it would continue to cooperate with plans for the media code of conduct.

“We have sought to work constructively with industry, the ACCC and government to develop a code of conduct, and we will continue to do so in the revised process set out by the Government today,” a Google spokesperson said.

Monday’s move also comes as the new coronavirus pandemic hits Australia’s media business hard, with several regional outlets reporting steep declines in advertising revenue.

Pending the new code, the federal government last week unveiled a support package for the local media businesses including a 12-month waiver of spectrum tax for commercial television and radio broadcasters, and a A$50 million public interest news gathering programme.

(Reporting by Renju Jose and Colin Packham; Editing by Kenneth Maxwell)

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation.  Barron’s

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation.  Barron’s

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Three drones downed after explosions heard in Iran’s Isfahan: State media – Al Jazeera English

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Iran’s air defences have brought down three small drones over the central city of Isfahan, state media reported, hours after United States broadcasters, quoting senior US officials, said Israeli missiles had hit an Iranian site.

Iranian state television reported explosions in Isfahan as air defences were activated and flights across several areas, including the capital, Tehran, and Isfahan, were suspended.

Airspace was reopened about four and a half hours after the incident and there were no reports of casualties.

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Second Brigadier General Siavash Mihandoust, the top military official in Isfahan, told state media that air defence batteries hit “a suspicious object” and there was no damage.

ABC News and CBS News had reported earlier that Israel had carried out a military operation in Iran.

Italy’s Foreign Minister Antonio Tajani said the US told the Group of Seven (G7) foreign ministers that it had been “informed at the last minute” by Israel about an attack on Iran.

“But there was no sharing of the attack by the US. It was a mere information,” Tajani told reporters in Capri, Italy, where the G7 ministers met.

However, US Secretary of State Antony Blinken refused to confirm reports about the Israeli attack, during a news conference in Capri.

“I’m not going to speak to that, except to say that the United States has not been involved in any offensive operation,” Blinken said.

The top US diplomat said the G7’s focus is on de-escalation. Asked to describe the current US-Israel relationship, Blinken noted that Israel makes its own decisions, but the US is committed to its security.

Iranian media said no strikes were launched on Iran from outside the country, and the attack was believed to have been carried out using small quadcopters that would have to have been launched from inside Iran.

Reporting from Tehran, Al Jazeera’s Dorsa Jabbari said Iranian media were downplaying the incident.

“The location in Isfahan province is an Iranian military airbase that belongs to the country’s army, and not the Revolutionary Guards [Islamic Revolutionary Guard Corps, IRGC]. I think it’s important to highlight that,” she said. “This base houses multiple squadrons of F-14 Tomcat fighter aircraft.”

“We also understand that the air defence systems over the city of Tabriz in the northwestern part of Iran were also activated,” Jabbari reported.

A military factory belonging to the Iranian army in Isfahan was attacked by multiple quadcopters in January 2023, failing to damage the facility that was protected by air defence batteries and mesh wiring on its roof to counter small unmanned aerial vehicles.

Iran blamed Israel for that attack and arrested four people, executing one of them in January 2024, for operating on behalf of Mossad, the Israeli spy agency.

Israel had promised to respond after Iran launched a barrage of drones and missiles on the country on April 13, after a suspected Israeli attack on Iran’s consulate compound in Damascus killed 16 people, including two IRGC senior generals.

Governments around the world urged restraint and a push to de-escalate tensions across the region.

Isfahan is considered a strategically important city and one that is host to several important sites, including military research and development facilities, as well as bases. The nearby city of Natanz is the location of one of Iran’s nuclear enrichment sites.

In a speech in Damghan, in central Iran, Iran’s President Ebrahim Raisi made no mention of Isfahan but praised the Iranian attacks on Israel, saying they gave the country strength and unity.

Kioumars Heydari, the commander-in-chief of the ground forces of the Iranian army, said Iran remains vigilant to confront any other potential aerial threats.

“If suspicious flying objects appear in the sky of the country, they will be targeted by our powerful air defence,” he was quoted as saying by the state-run IRNA  news agency ahead of Friday prayers in Tehran.

‘No damage’ to nuclear facilities

The International Atomic Energy Agency (IAEA) confirmed that “there is no damage” to Iranian nuclear sites as the United Nations nuclear watchdog’s chief Rafael Grossi called for restraint and said nuclear facilities should never be targeted in military conflicts.

The reported attack “was far more limited than many expected”, Iranian arms control expert Ali Ahmadi told Al Jazeera, adding that Israel “has much more limitations in its operational range” than many think.

“Certainly, after Iran’s retaliatory capacity was criticised, it benefits from advertising how ineffective what Israel did was as well. Iran also needs to prepare the public for a much softer reaction than it has talked about in the last couple of days,” he pointed out.

Ahmadi said that prior to today’s incident, Iran was preparing several options for a massive retaliation, including getting allies involved.

But considering the limited scope and impact of the alleged attack, which he described as a “security sabotage” rather than a “military assault”, it would be a mistake to carry out a significant response, he stressed.

There were also reports of explosions in Iraq and Syria, with Iranian state media saying there were explosions at multiple military-linked sites in Syria.

Syria’s official news agency SANA quoted a military source as saying that missile strikes in the early hours of the morning caused material damage to air defence sites in the country’s southern region. The report did not specify the exact location and the extent of the damage but blamed Israel.

The US and a number of European countries had been calling on Israel not to respond to Iran’s attack.

On Thursday, UN Secretary-General Antonio Guterres painted a dark picture of the situation in the Middle East, warning that spiralling tensions over Israel’s war on Gaza and Iran’s attack on Israel could descend into a “full-scale regional conflict”.

“The Middle East is on a precipice. Recent days have seen a perilous escalation – in words and deeds,” Guterres told the UN Security Council.

“One miscalculation, one miscommunication, one mistake, could lead to the unthinkable – a full-scale regional conflict that would be devastating for all involved,” he said, calling on all parties to exercise “maximum restraint”.

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