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Taking from young, giving to old: how our tax system is letting us down

Canberra, Oct 30 (The Conversation) Australians are retiring with unprecedented levels of wealth. This wealth, which is primarily held in housing, investment properties and superannuation, allows retirees to draw incomes to support their retirement. As Australians have become wealthier, we might expect government spending on social safety nets for older Australians to fall. Instead, we have seen these programs grow in real, per-person terms. The overall result is older Australians have much higher incomes than previous generations of retirees. The average 75-year-old’s post-tax and transfer income 25 years ago was little more than 75% of an average Australian income. Today

Gold, silver futures drop as Fed tone, trade progress erode safe haven demand

New Delhi, Oct 30 (PTI) Gold and silver futures declined on Thursday as traders reacted to the Federal Reserve’s cautious stance on further rate cuts and comments from US President Donald Trump hinting at progress in trade talks with China. After closing higher in the previous session, gold futures for December delivery decreased by Rs 941, or 0.78 per cent, to Rs 1,19,725 per 10 grams in a business turnover of 12,987 lots on the Multi Commodity Exchange (MCX). Silver futures also witnessed steep losses, with the December contract depreciating by Rs 1,029, or 0.7 per cent, to Rs 1,45,052

Trump cuts China tariffs to 47% after meeting Xi in South Korea

BUSAN, South Korea, October 30, 2025 (AP) — President Donald Trump said he has decided to lower his tariff rates on imports of Chinese goods to 47% after meeting face-to-face with Chinese leader Xi Jinping on Thursday, a chance for the leaders of the world’s two largest economies to stabilize relations after months of turmoil over trade issues. Trump’s aggressive use of tariffs since returning to the White House for a second term combined with China’s retaliatory limits on exports of rare earth elements gave the meeting newfound urgency. There is a mutual recognition that neither side wants to risk

Stock markets fall in early trade as fresh foreign fund outflows hurt sentiment

Mumbai, Oct 30 (PTI) Benchmark indices Sensex and Nifty declined in early trade on Thursday as fresh foreign fund outflows and no clarity on the future course of rate action by the US Federal Reserve dampened investors’ sentiment. The 30-share BSE Sensex declined 297.96 points to 84,699.17 in early trade. The 50-share NSE Nifty dropped 90.05 points to 25,963.85. From the Sensex firms, Sun Pharma, Bharti Airtel, Power Grid, ITC, Tata Steel and Asian Paints were among the major laggards. However, Larsen & Toubro, Eternal, Adani Ports and Maruti were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth

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