Narendra Modi arrived in Sydney on Monday night, his first to Australia since 2014; Victorian Treasurer Tim Pallas is forecasting a $1b budget surplus in three years. Follow updates here.
President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on Monday on how to raise the US government’s $US31.4 trillion debt ceiling with just 10 days before a possible default that could sink the US economy, but vowed to keep talking.
McCarthy told reporters after over an hour of talks with Biden that negotiators are “going to get together, work through the night” to try to find common ground. Democrats and Republicans have just 10 days to reach a deal – until June 1 – to increase the government’s self-borrowing limit or trigger an unprecedented debt default that economists warn could bring on a recession.
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