Norwegian government attacked over decision to reopen North Sea gasfields

The Norwegian government has been heavily criticised for approving plans to reopen three North Sea gasfields nearly three decades after they were closed to help fill the gap in energy supplies created by the Middle East war.Amid sharp price rises in oil and gas since the US and Israel’s attack on Iran in February, Oslo has also given its approval for oil and gas companies to explore in 70 new locations in the North Sea, Barents Sea and Norwegian Sea.The decision by the Labour-run government goes against the advice of the country’s environment agency and has infuriated left-leaning parties.“We live in troubled times,” the prime minister, Jonas Gahr Støre, said as he announced the decision, which would “create great value for the community, lay the foundation for good jobs throughout the country, ensure our common welfare and contribute to Europe’s energy security and safety”.The Albuskjell, Vest Ekofisk and Tommeliten Gamma gasfields in the North Sea were closed in 1998

In this budget, all eyes are on CGT. But Labor’s rumoured family trust tweaks might also help fight tax inequality | Greg Jericho

When it comes to how wealth and high income is taxed in this country, it is not hard to agree with F Scott Fitzgerald’s line that “the rich are different from you and me”.The difference between the rich and the rest is abundantly clear when you look at how most people make money. Whereas most of us get money from salary and wages, those who earn $1m or more a year generate most of their income through capital gains, dividends and partnerships and trusts:If the graph does not display click hereUnsurprisingly, the way millionaires make money makes it much easier to avoid tax – whether through the current 50% capital gains tax (CGT) discount or the complex tax arrangements of trusts.But the government finally seems ready to address the gross inequality in the tax system. As I wrote two weeks ago, the strong rumour is that the CGT 50% discount will be abolished and replaced with the pre-1999 system of only taxing real gain

TikTok’s algorithm favored Republican content in 2024 US elections, study finds

A study published Wednesday in the journal Nature finds that TikTok’s algorithm systematically prioritized pro-Republican content in three states leading up to the 2024 US elections.Researchers created hundreds of dummy accounts and conditioned them to mimic real users’ behavior by watching a set of videos either aligned with the US Democratic or Republican parties. Then, they tracked the videos TikTok recommended on these accounts’ For You pages, TikTok’s main feed.“We found a consistent imbalance,” they wrote in Nature.About 42% of US social media users say that these platforms are important for getting involved with political and social issues, according to Pew Research, but it’s not often clear how recommendation algorithms shape what appears in feeds

‘Your craft is obsolete’: WiseTech staff in limbo as AI touted as better than humans

Staff at WiseTech have been waiting almost three months to be told if they are among the 2,000 people the logistics software company is to cut due to advances in AI, with workers criticising the wait as stressful and “ridiculous”.The comments come as its founder on Tuesday told investors an AI agent could learn a human’s job in just 15 minutes, according to the Australian Financial Review.The Australian Stock Exchange-listed company announced in late February that it would lay off almost 30% of its workforce across 40 countries, with 2,000 of the 7,000 jobs set to go over the next 18 months.Some areas would be hit harder than others, with product and development and customer service teams expected to be reduced by up to 50%, the chief executive, Zubin Appoo, told an investor briefing in February.“The era of manually writing code as the core act of engineering is over,” Appoo said

Raducanu’s road leads from Rome to a French Open fitness race and questions beyond

In the end Emma Raducanu was one of the first in and out the grandiose gates of the Foro Italico this year. She had arrived in Rome early, eager to test her health and readiness for top-level competition through a series of training sessions on the heavy red clay courts of the Italian Open. As the hours on court piled up, and her planned opening match on Thursday drew closer, it seemed reasonable to conclude that she would make her first appearance in two months. Instead, her absence from the courts will extend to more than two months.Things are rarely straightforward with Raducanu, demonstrated by the nature of her withdrawal in Rome, which occurred just 30 minutes after she gave little indication of her intention during a press conference

Rugby union’s Pacific heartlands threatened by NRL spree after Moana Pasifika’s collapse

There’s a new war in the Pacific brewing, with the Super Rugby side Moana Pasifika collapsing and rugby league on a new signing spree in union’s traditional heartlands.The conflict spells trouble for Rugby Australia (RA), whose federal government is funding a $600m NRL franchise in Papua New Guinea, $240m of which will go into poaching talent and creating pathways throughout Fiji, Tonga, Samoa and the Cook Islands.For more than a century, since British soldiers introduced it to further the Empire, rugby union has been the national sport of all four Pacific countries. Fiji have led the way with two Olympic gold medals in sevens (2016 and 2020) and a 15s side are now neck-and-neck with Australia in the world rankings. Players with Pacific and Polynesian blood are now an invaluable part of almost every international side