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The Latest Breaking News from the Future Fund

Tesla Bull Gary Black Says Cybercab Won't See An Early Roll Out, Expects A Cheaper Compact Car Under $30K To Launch In First Half Of 2025

Gary Black of The Future Fund LLC confirmed that Tesla's Cybercab won't launch until 2026, dismissing early rollout rumors, while highlighting the company's focus on a $30K EV slated for 2025.

Benzinga

Future Fund unveils big vote of no confidence in Australia’s banks

Why has the Future Fund cut its deposits in Australia’s major banks by up to 90%? Seems it isn’t happy with the interest rates on offer.

Crikey

Deloitte predicts December budget update will show bottom line has worsened since May, in fiscal ‘thud’

Next month’s update of the federal budget will forecast a bigger deficit for 2024-25 than was predicted in the May budget, according to the Deloitte Access Economics’ Budget Monitor, released on Tuesday.

The Conversation

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The fierce reaction to Australia’s new Future Fund mandate is a throwback to a bygone era

Peter Costello and John Howard should note that sovereign wealth funds now typically consider national policy objectives in their decisions

The Guardian - AU

Is using the Future Fund for housing, energy and infrastructure really ‘raiding Australia’s nest egg’?

Australia has a seriously big “nest egg”. The Future Fund – our sovereign wealth fund set up in 2006 – now manages about $230 billion.

The Conversation

Stop interfering with independent institutions, treasurer

The Labor government has already tried to nobble the Productivity Commission. Now it’s attempting to interfere with the Future Fund.

Crikey

Coalition vows to overturn extra Future Fund priorities

Adding clean energy and housing as supplementary investment priorities for Australia's sovereign wealth fund has drawn sharp rebuke from the opposition.

AAP

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Australia’s Future Fund to invest in housing, infrastructure and energy transition under new mandate

Sovereign wealth fund’s statement of expectations will be updated for the first time in 15 years

The Guardian - AU

Australia’s $230 billion Future Fund encouraged to invest in housing, energy transition, infrastructure

The Albanese government has rewritten the mandate of the Future Fund – the nation’s sovereign wealth fund – to urge it to direct investment into the “national priorities” of housing, the energy transition and infrastructure, where the risk and returns are acceptable.

The Conversation

Winston Peters’ $100 billion infrastructure fund is the right idea. Politics-as-usual is the problem

New Zealand’s infrastructure woes are a constant political pain point. From ageing water systems to congested roads and assets increasingly threatened by climate change, the country faces mammoth upgrading and future-proofing challenges.

The Conversation

Crispin Blunt’s drug policy unit loses thousands of taxpayer money

The CDPRG aimed to allow access to cannabis-based medical products and reform wider drug policy following the “current failure of prohibition”.

The Independent UK

Conflicted Costello’s departure shifts deckchairs in a doomed industry

Look beyond Peter Costello’s encounter with a News Corp journalist and you’ll see an industry in its death throes.

Crikey

Memo to Greg Combet: vote the Future Fund’s $110m Tesla shares against Musk’s latest pay scam

The government is currently fighting Elon Musk in the courts. But there might be another way to take the billionaire down a peg.

Crikey

Was the Future Fund a failure? It's too early to tell

City Voices: With close to 700 companies in which the fund now holds shares, it only takes one to have made the whole thing a success

Evening Standard

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The Street

Analyst has a bold prediction on how Tesla can recover in 2024

It's all dependent on one vehicle.

AAP

Changing of the guard at Future Fund puts Combet at top

Former ACTU leader and Labor minister Greg Combet is the new chair of Australia's sovereign wealth fund, replacing Liberal stalwart Peter Costello.

Fortune

How Elon Musk’s solar ambitions fell back to earth

The revolutionary "solar roof" is one of Musk's best products. How come nobody's buying it?

The Guardian - UK

Labour asks watchdog to investigate Sunak over wife’s interest in startup fund

PM’s much-criticised Future Fund, set up during the pandemic, gave £2m to companies co-owned by Akshata Murty

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The Guardian - UK

Sunak’s Covid startup fund invested nearly £2m in firms linked to his wife

Four businesses linked to Akshata Murty revealed to have received investment from much-criticised Future Fund

AAP

Future Fund boss Peter Costello won't seek third term

Australia's former federal treasurer Peter Costello won't seek a third term as chair of the Future Fund and recruitment for his replacement is underway.

AAP

Treasurer to take fresh look at Future Fund

Australia's sovereign wealth fund could be in for a shake-up, including new personnel, as the Labor government continues its renewal of institutions.

The Conversation

Politics with Michelle Grattan: Greens' Max Chandler-Mather on the housing fund, rent freezes and migration

The government’s planned Housing Australia Future Fund has hit a roadblock.

The Guardian - UK

‘A naive and stupid idea’: how Rishi Sunak’s Future Fund spent millions on failed firms

The then chancellor’s loan scheme, set up as Covid hit, was supposed to keep dynamic startups going, but ended up giving taxpayer cash to long-established or lame duck businesses

AAP

Minister steps on the gas to defend emissions policy

Emissions will continue to rise without the federal government's safeguard mechanism plan, Climate Change Minister Chris Bowen says.

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