Brokerages close FY26 on a strong Q4 rebound led by retail churn, volatility


Among the key players, Groww, Angel One, HDFC Securities and Kotak Securities reported healthy year-on-year growth in the March quarter.

Among the key players, Groww, Angel One, HDFC Securities and Kotak Securities reported healthy year-on-year growth in the March quarter. | Photo Credit: VIVEK BENDRE

India’s leading brokerage houses capped FY26 with a strong March quarter performance, riding a rebound in retail trading activity, improved market volatility and operating leverage from digital-heavy models, even as the full-year picture remained uneven.

Among the key players, Groww, Angel One, HDFC Securities and Kotak Securities reported healthy year-on-year growth in the March quarter, a strong recovery from a relatively softer first half.

Bagging the bucks

Groww topped the chart, reporting a sharp jump in both revenue and profit for Q4, aided by strong client additions and improving operating leverage. The company said, “Operating leverage played out across all the cost buckets… margins will keep expanding as revenue increases faster than costs.” Its user base crossed 2.1 crore, with client assets rising 35 per cent on-year, underlining continued retail participation despite intermittent market volatility.

Angel One also posted strong earnings growth, with net profit at ₹320.2 crore and revenue at ₹1,467.2 crore for the quarter, driven by higher trading volumes, retail activity, improved realizations and digital-led operating leverage.

Zerodha, which is a key unlisted player in the discount broking space, had said last year that they expect around 40 per cent impact on FY26 revenue due to tightening of the futures and options segment.

HDFC Securities reported net profit of ₹268 crore and revenue of ₹850 crore in Q4, while its full-year profit declined to ₹930 crore, due to a subdued first half and higher employee costs. The brokerage continued to pivot towards a lean, digital-first model and grew its customer base by 2 lakh to 78 lakh in the previous quarter.

Kotak Securities, meanwhile, posted net profit of ₹400 crore for the quarter with stable full-year earnings, indicating resilience but limited growth amid competitive pressures and moderating trading intensity.

mixed trend

Smaller and mid-tier brokers showed a mixed trend. 5paisa Capital reported quarterly revenue of ₹85.5 crore and profit of ₹10.8 crore, though full-year profit declined sharply, due to pressure on margins and lower activity earlier in the year. In contrast, Anand Rathi Share and Stock Brokers delivered strong growth, aided by a surge in margin trading funding, while SMC Global Securities reported a sharp jump in profits on a low base.

Industry-wide FY26 trends were shaped by fluctuations in retail participation, regulatory changes and a high base from previous years. Analysts said the March quarter recovery was largely driven by higher market volatility, which typically boosts trading volumes, alongside improving client engagement. However, the sustainability will depend on consistent inflows, product diversification and the ability to monetize a large but price-sensitive retail base.

Published on May 3, 2026

Huge increase in Israel’s strength amid Iran tension, will buy F-35I and F-15IA fighter jets from US, know how dangerous?

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Israel US Defense Deal: Israel will buy two more squadrons of F-35I and F-15IA fighter aircraft from America. This announcement was made by the Israeli Defense Minister on Sunday. The ministry has said in its statement that at the end of this week a Defense Deal Committee made up of senior ministers has approved the Defense Ministry’s plan. Under this, the fourth F-35I squadron will be purchased from Lockheed Martins and the second F-15IA squadron will be purchased from Boeing. The value of these deals is in billions.

According to Al Jazeera, while giving information, the Ministry said that these aircraft will strengthen the foundation of long-term development for the Israeli Army. We will also face changing regional threats. Defense Ministry Director General Amir Baram has instructed the ministry’s mission present in America that they will work towards finalizing the deal with the US government and military counterparts in the coming time.

The number of Israeli Air Force fleet will increase
With this, the number of F-35I fleet of Israeli Air Force will increase to 100 with the induction of aircraft in the coming years. The number of F-15IA fleet will increase to 50. Israel has 48 numbers of F-35I aircraft. These were part of the initial order of 50 aircraft.

An order for 25 more F-35 aircraft was placed in 2023. Their delivery is expected to start from 2028. Israel orders 25 F-15IA aircraft in 2024. Delivery of the first of these aircraft is expected to begin in 2031.

Israel is strengthening its military security
Israeli Defense Minister Israel Katz has said that the recent war with Iran has once again demonstrated the power of the Israeli Air Force and its decisive role in Israel’s security.

Baram said that along with the immediate wartime procurement needs, we also have a responsibility to take steps now that will ensure the IDF’s military advantage ten years from now and beyond. Apart from this, Operation Roaring Lion has proved that the strategic relationship between America and Israel is important. Besides, advanced air power also remains necessary. Ships carrying 6,500 tons of military goods from America have reached Israel.

Also read: Donald Trump: After Venezuela-Iran, this country will be Trump’s target! Said- ‘I will send the aircraft carrier, they will surrender’

Lauren Sánchez Bezos’s boldest fashion looks ahead of the Met Gala


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Lauren Sánchez Bezos has a long history of bold fashion choices, and with the Met Gala just days away, Jeff Bezos’ wife is expected to add yet another standout look to her collection.

Back in 2020, Sanchez made her red carpet debut with Bezos at the Amazon Prime Video event in India. Her first time stepping out with her future husband was in a very low-cut, black and red dress with a high slit.

She styled her signature black hair with a side part and Bezos was in a black and silver abstract blazer.

Lauren Sánchez posing on the red carpet at amfAR Gala Cannes 2025 in Cap d'Antibes France

Lauren Sánchez Bezos has a long history of risque looks. (Ryan Emberley/amfAR)

At the 2023 Vanity Fair Oscar party, Sanchez and Bezos posed for photos in matching black looks. Sanchez wore a black dress, with sequined details. The dress featured a deep-plunging neckline and was completely sheer from the waist down.

Lauren Sanchez Bezos

Lauren Sánchez pictured in May 2025 at the amfAR Gala Cannes in France. (Marco Barada/Anadolu via Getty Images)

Lauren Sanchez and Bezos red carpet debut

Lauren Sánchez and Jeff Bezos made their red carpet debut at the Amazon Prime Video celebration on January 16, 2020, in Mumbai, India. (Prodip Guha/Getty Images)

Lauren Sanchez and Jeff Bezos standing together at an event venue.

Lauren Sánchez and Jeff Bezos attend the Vanity Fair Oscar Party in Beverly Hills, California, on March 12, 2023. (Jon Kopaloff/Getty Images for Vanity Fair)

LAUREN SÁNCHEZ BEZOS DEFENDS RISQUÉ TRUMP INAUGURATION LOOK AFTER BACKLASH

The year 2024 was big for Sanchez’s looks. In January, the former journalist and Bezos attended Milan Fashion Week hand-in-hand. Sanchez wore a sheer, lace floor-length black dress with a corset-style top. She wore a pair of black underwear underneath her sheer dress and had a black blazer hung over her shoulders.

Jeff Bezos and wife Lauren Sanchez walking at Milan Fashion Week menswear event

Jeff Bezos and his wife Lauren Sánchez attended Milan Fashion Week in 2024. (Robino Salvatore/GC Images)

Bezos was seen holding Sanchez’s hand in a black velvet suit.

In March, the couple attended the 2024 Vanity Fair Oscar Party. Sanchez wore a red, toile gown with a deep plunging neckline. She wore a statement, diamond necklace with matching earrings on the carpet.

Lauren Sánchez wearing a red gown standing with Jeff Bezos in a tuxedo on a red carpet

Lauren Sánchez and Jeff Bezos attended the 2024 Vanity Fair Oscar Party. (Daniele Venturelli/Getty Images)

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The following month, during the Biden administration, Bezos and Sanchez attended the White House State Dinner in honor of Japanese Prime Minister Fumio Kishida. Sanchez put her chest on display in an off-the-shoulder, lace red gown. The corset of her dress was sheer and meshed into a solid, satin red fabric.

Jeff Bezos and Lauren Sanchez arriving at the White House for a state dinner

Jeff Bezos and Lauren Sanchez arrive at the White House for a state dinner hosted by President Joe Biden in 2024. (Tasos Katopodis/Getty Images)

Amazon founder Jeff Bezos and fiancee Lauren Sanchez arriving at the White House

Jeff Bezos and fiancee Lauren Sanchez arrive at the White House for a state dinner for Japanese Prime Minister Fumio Kishida on April 10, 2024, in Washington, D.C. (Tasos Katopodis/Getty Images)

In January 2025, Sánchez wore a risqué look at President Donald Trump’s inauguration. Sanchez wore a white Alexander McQueen pantsuit featuring a fitted satin-trimmed blazer with a plunging V-neck and wide-leg trousers.

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She skipped a traditional blouse and instead opted for a white lace bra. She completed the look with a fuzzy coat for the wintry day. Sánchez Bezos also paired the outfit with a smoky eye, glossy nude lips and a sleek updo. Her billionaire beau wore a suit with an oxblood tie.

Mark Zuckerberg, Jeff Bezos, Sundar Pichai, Elon Musk, Priscilla Chan, and Lauren Sanchez attending the U.S. Capitol

Mark Zuckerberg, Lauren Sanchez and Jeff Bezos at President Donald Trump’s inauguration. (Shawn Thew-Pool/Getty Images)

Following the event, Sanchez faced backlash for her choice of outfit. She told the New York Times that she was “super proud of herself,” but acknowledged “no lace at the White House. Noted.”

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Jeanine Pirro says she has evidence officer was shot at White House press dinner | White House correspondents’ dinner shooting

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The US government has evidence that a federal agent was shot by the suspect during an alleged recent attempt to assassinate Donald Trump at the White House Correspondents’ Association dinner, the US attorney for the District of Columbia Jeanine Pirro said on Sunday.

“We now can establish that a pellet that came from the buckshot from the defendant’s Mossberg pump-action shotgun was intertwined with the fiber of the vest of the Secret Service officer,” Pirro said on CNN.

The suspect in the attack, Cole Tomas Allen, 31, allegedly ran past a security checkpoint at the Washington Hilton hotel where the annual White House correspondents’ association dinner was being held.

The attacker then fired a shotgun outside the doors leading into the ballroom where the US president, first lady Melania Trump and several senior cabinet members had gathered along with hundreds of journalists and their guests.

Allen was charged last week with three federal crimes, including attempting to assassinate the president.

Allen had shared social media posts comparing Trump to Adolf Hitler and encouraged others critical of his presidency to purchase guns, according to CNN. That chimes with a document that Allen allegedly sent to family members before the attack in which he criticized Trump administration policies, slammed security at the Hilton and apologized to his family for his actions.

Prosecutors alleged in legal filings last week that Allen traveled by train from California to Washington armed with the shotgun, a .38-caliber pistol as well as knives and daggers in order to carry out the attack.

Allen was “willing to commit a mass shooting inside a room full of the highest-ranking officials in the US government”, the filing said



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Taxpayer-backed Ivanpah solar plant kills birds and burns fossil fuels


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This is part 2 of a series on California’s troubled Ivanpah Solar Power Plant in the Mojave Desert. 

More than a decade after it opened, an Obama-era taxpayer-backed “clean energy” solar plant in California still burns fossil fuels and kills thousands of birds each year.

The Ivanpah Solar Power Plant, a massive facility in the Mojave Desert near the California–Nevada border, uses hundreds of thousands of mirrors to reflect sunlight into three towering structures, generating intense heat to produce electricity.

But those same beams have proven deadly.

Split image of Ivanpah solar tower and dead bird with burn injuries

A composite image shows a tower at the Ivanpah Solar Power Plant alongside a bird found with burn injuries linked to concentrated solar heat exposure, according to federal wildlife research. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images; U.S. Fish and Wildlife Service)

OBAMA-BACKED $2.2B GREEN ENERGY ‘BOONDOGGLE’ LEAVES TAXPAYERS ON THE HOOK

Federal researchers and monitoring reports have documented thousands of birds being killed after flying through the plant’s concentrated solar rays — a phenomenon known as “solar flux.”

The plant also relies on natural gas to start up each day — producing tens of thousands of metric tons of carbon dioxide annually — an amount comparable to the energy use of thousands of homes, raising questions about how “clean” the facility really is.

Standing near the site, its footprint is unmistakable. The towers glow intensely as beams of reflected sunlight converge at their tops, creating an almost surreal scene against the desert landscape.

Once promoted as a symbol of the future of renewable energy, Ivanpah is now drawing scrutiny over whether its environmental costs outweigh its benefits, with critics saying the project raises broader concerns about how “clean energy” is evaluated.

“If oil and gas spills a drop, literally a drop, the entire operation is shut down. And to an extent that’s a good thing,” Daniel Turner, founder of the energy advocacy group Power The Future, told Fox News Digital.

“But you label something ‘green’ or ‘clean’ and all regulations are waived.”

TRUMP’S UN SPEECH REVEALS INCONVENIENT TRUTH OF MASSIVE GREEN ENERGY COSTS

Aerial view of Ivanpah Solar Power Plant with mirrors reflecting sunlight onto towers

An aerial view shows the Ivanpah Solar Power Plant near the California-Nevada border, where mirrors reflect sunlight onto towers to generate electricity. (Joe Sohm/Visions of America/Universal Images Group)

Despite the documented wildlife impacts, the plant continues to operate — with California regulators declining efforts to shut it down and instead arguing it is still needed to support the power grid. Officials under both the Trump and Biden administrations have supported shutting the facility down, citing the high cost of its electricity compared to newer alternatives.

The project was built with more than $1.6 billion in federally backed loans and additional taxpayer-funded incentives, leaving hundreds of millions of dollars still outstanding — even as environmental concerns continue to mount. In addition, the U.S. Department of the Treasury provided a $539 million grant to help build the facility, covering about 30% of construction costs.

Bird deaths and wildlife impacts

The facility spans more than 4,000 acres of the Mojave Desert and uses roughly 350,000 mirrors — mounted on more than 170,000 heliostats — to reflect sunlight toward three central towers.

That same concentrated light has had unintended consequences.

Researchers say insects are drawn to the bright towers, which in turn attract birds. Some then fly through the plant’s concentrated solar beams — known as solar flux — where they can be injured or killed.

Researchers dubbed the phenomenon “streamers,” with video released by the U.S. Geological Survey showing birds trailing smoke as their feathers burn.

Close-up of damaged bird wing with curled feathers caused by solar flux at Ivanpah

A peregrine falcon wing shows severe feather damage consistent with exposure to concentrated solar heat, according to a U.S. Fish and Wildlife Service study of the Ivanpah solar plant. (U.S. Fish and Wildlife Service)

Cluster of bird feathers showing burn damage from solar flux

Burned feathers from a peregrine falcon show damage patterns linked to concentrated solar beams at the Ivanpah solar plant, according to federal research. (U.S. Fish and Wildlife Service)

A 2016 federal study by the U.S. Fish and Wildlife Service found evidence of birds suffering feather damage and trauma consistent with exposure to intense heat near the towers.

Monitoring reports filed with California regulators and reviewed by Fox News Digital continue to document bird and bat deaths at the site, with hundreds of birds found dead each year.

Environmental reviews conducted before construction anticipated some level of wildlife impact, including bird deaths linked to mirror collisions and concentrated solar beams, according to California Energy Commission documents.

“Bird mortality is still a significant concern at concentrated solar plants like Ivanpah,” Lewis Grove, director of wind and energy policy at the American Bird Conservancy, told Fox News Digital.

“Public estimates are that thousands of birds are killed every year by this single facility,” he said, adding that the trade-off is “generally not worth it for birds.”

CALIFORNIA’S POLITICIANS DIDN’T START THE FIRES. THEY MADE THEM WORSE

He noted that newer photovoltaic solar systems have significantly lower impacts on wildlife, underscoring how the industry has shifted away from the technology used at Ivanpah.

“The Ivanpah plant was a financial boondoggle and environmental disaster,” Julia Dowell of the Sierra Club said in a previous Fox News Digital report. She added the project “killed thousands of birds and tortoises” and showed that “not all renewable technologies are created equal.”

Habitat impact

Beyond bird deaths, the project has reshaped the surrounding desert.

The site was once considered a high-quality habitat, according to federal environmental reviews conducted before construction. Development cleared large areas of land, displacing tortoises and other wildlife and raised concerns about long-term survival.

Early monitoring reports showed dozens of protected desert tortoises went unaccounted for during initial operations — including animals held in controlled enclosures — according to California Energy Commission documents reviewed by Fox News Digital.

Critics have also questioned whether efforts to relocate tortoises away from the site have been effective.

Burning fossil fuels

The plant’s environmental footprint extends beyond wildlife.

Ivanpah relies on natural gas to start up operations each day — a requirement that has raised questions about how “clean” the facility really is.

While the original design assumed limited gas use, actual operations often require several hours of gas-burning to bring the system online. The plant also lacks large-scale energy storage, meaning it cannot generate electricity at night — a limitation newer solar projects increasingly address.

Burned bird feather with curled edges from solar heat exposure

A bird feather shows curling and charring linked to concentrated solar heat exposure at the Ivanpah facility, according to a federal wildlife study. (U.S. Fish and Wildlife Service)

Project documents show the facility was originally approved to use significantly less natural gas than it ultimately required, with operators later seeking approval to increase usage by roughly 60% to maintain reliable operations, according to California Energy Commission filings reviewed by Fox News Digital.

The plant has burned natural gas to support daily startup and operations, producing roughly 25,000 to 30,000 metric tons of carbon dioxide annually — roughly equivalent to the emissions from several thousand U.S. homes.

That level of emissions is enough to place the plant under California’s cap-and-trade program, which requires major polluters to pay for their emissions — effectively placing the “solar” facility alongside traditional fossil fuel plants when it comes to emissions.

While Ivanpah produces fewer emissions than a conventional natural gas plant, its carbon footprint remains significantly higher than that of modern solar farms, which generate electricity without burning fossil fuels.

NRG Energy, which operates the facility, said in a previous statement that it remains committed to providing renewable electricity but declined to provide additional comment regarding environmental issues.

The California Energy Commission told Fox News Digital the project remains in compliance with its environmental requirements, with wildlife impacts addressed through ongoing monitoring and coordination with federal and state agencies.

Ivanpah Solar Power Plant towers with mirrors reflecting sunlight in Mojave Desert

The Ivanpah Solar Power Plant in California’s Mojave Desert uses mirrors to focus sunlight onto three towers to generate electricity. (Jeff Gritchen/MediaNews Group/Orange County Register/Getty Images)

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More than a decade after it opened, Ivanpah now stands as a symbol of the tradeoffs in the push for clean energy — where efforts to reduce emissions can also bring real-world environmental costs.

For now, the plant continues to operate because regulators say the power it provides is still needed — even as questions remain about its cost, environmental impact and whether it still makes sense to keep it running.

Those questions extend beyond the plant itself, raising broader concerns about how projects like Ivanpah were approved — an issue Fox News Digital will examine in the next part of this series.



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Why the RBA is predicted to deliver a third straight interest rate hike this week | Interest rates

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One economist is calling it the “Hormuz hike”.

There’s a nearly 80% chance that the Reserve Bank will deliver a third straight interest rate rise on Tuesday, according to financial markets.

Higher interest rates are always unwelcome for the roughly 3.6m households paying down a mortgage. But a rate rise this week would be particularly galling.

Slammed with higher petrol prices and the broader cost-of-living grind, more than one homeowner will be wondering how paying more interest on their loans will do anything to fix the root cause of the latest inflationary pulse: the Middle East conflict.

Official figures released last week showed inflation jumped by almost a percentage point to 4.6% in the year to March and the highest in two and a half years. But the more than 30% spike in petrol prices in the month accounted for most of the month’s inflationary uplift, the data showed.

Phil O’Donaghoe, the chief economist at Deutsche Bank, understands mortgage holders’ frustration.

“The irony is that there is absolutely nothing that monetary policy can do about inflation in the next six months: it’s all the oil price,” he says.

But O’Donaghoe, like most economists, still reckons a rate hike is the right thing to do.

Why? Because the RBA needs to send a message: “We are going to get inflation back under control”.

“If they do follow through next week with another one [rate rise], it is specifically about demonstrating to price and wage setters in the economy that they are serious about the inflation target,” O’Donaghoe says.

“And the best way it can do that at this point in time is with interest rate hikes.”

Robert Thompson, a macro strategist at RBC Capital Markets, readily acknowledges that the RBA can’t do anything about the global oil supply shock. But Thompson, like many analysts, notes that inflation had been “uncomfortably high” even before the US and Israel began bombing Iran at the end of February.

With its inflation-fighting credentials already under pressure, the central bank is “extra sensitive” to the knock-on effects of higher fuel costs through the rest of the economy.

The RBA’s nine-member monetary policy board voted to hike rates at the last meeting in March with only the slimmest five-to-four majority.

“I’d be surprised if it was as close as the last one; I think the case is clearer,” Thompson says.

“The RBA has one tool, and they need to use it or otherwise risk letting inflation go up significantly.”

By dampening demand through rate rises, it makes it harder for businesses to pass on those costs to their customers through higher prices. “I see it as a sequencing issue: inflation here and now is something you need to get in front of,” Thompson says.

“The growth shock will absolutely come through, but will come a little bit later and the RBA can respond to that later.”

Johnathan McMenamin, a senior economist at Barrenjoey, says the RBA can not simply step back and let inflation self-correct as the economic damage from the fuel crisis runs its course.

“Inflation will always kill itself eventually by damaging real incomes and living standards to such a degree that it slows. The job of the central bank is to maintain inflation expectations and smooth the cycle,” McMenamin says.

“And if they do end up squashing demand too much, they can turn around and cut. They can’t do nothing.”



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Dana White says 85,000 free UFC Freedom 250 tickets available at White House


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UFC CEO Dana White revealed Saturday on “My View with Lara Trump” that he and President Donald Trump are gearing up to give away tens of thousands of tickets to the first-ever planned fight at the White House in honor of both the president’s birthday and the country’s 250th birthday. 

White said his head of production is working on UFC Freedom 250 “24/7.” A temporary arena that will hold 4,300 spectators will be constructed, and Trump wants to give most of those tickets to military personnel.

US President Donald Trump and UFC President Dana White seated at UFC 327 event in Miami

President Donald Trump attends the UFC 327 event with UFC President Dana White at Kaseya Center in Miami, Florida, on April 11, 2026. (Ed Mulholland/Zuffa LLC)

White also mentioned organizers will give away 85,000 tickets to fans, who will be able to watch the fights from the Ellipse. The public park just south of the White House will be set up with huge screens, stages, music and other audience activations.

If you are a fan of the UFC and especially if you have never been to Washington, D.C., we’re going to give away about 85,000 tickets,” White said.

Fans can register for those tickets completely free of charge, he said, encouraging Ultimate Fighting enthusiasts to make the trip.

DANA WHITE DISMISSES NOTION WHITE HOUSE UFC EVENT WILL BE ‘TOO POLITICAL’: ‘IT’S A HISTORY-MAKING EVENT’

Dana White, Donald Trump, and Hunter Campbell appear on screens at UFC 327 event in Miami

Dana White, UFC President and CEO, President Donald Trump, and Hunter Campbell, UFC CBO, appear on screens at UFC 327 at Kaseya Center in Miami, Florida, on April 11, 2026. The main event features a light heavyweight match between Jiri Prochazka and Carlos Ulberg. (Tasos Katopodis/Getty Images)

“We’re going to be doing all kinds of things, you know, in D.C. for fans, and it’s really a cool city… If you’re a UFC fan, this is absolutely positively the time to come to D.C.,” he added. 

White said only lightning could threaten the fight, noting that he dislikes outdoor events because they’re “way too unpredictable.”

“If it rains, we’re going. If it snows, we’re going. The only thing that will stop us is lightning. But we’re working with the military,” he said. 

DANA WHITE ‘WASN’T GOING TO SEE 65’ BEFORE LONGEVITY EXPERT INTERVENED WITH STRICT NEW REGIMEN

The military is set to notify White’s team of the weather forecast every hour during the seven days leading up to the event. Even if lightning strikes, or at least threatens to, the event could be moved earlier or later in the day, White said.

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“So these are all things that we’ll be playing with the week of the event on top of all the other things that we will have going on, which we never had to deal with.”

“The only time I’d ever agreed to do an outdoor event was in Abu Dhabi… I could be the weatherman in Abu Dhabi and I would be right every time,” he added. 



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The ‘Oscars for political nerds’ or a threat to democracy? Grab a ticket, it’s Canberra’s budget fundraiser season | Australian politics

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They’re dismissed as boring, little more than a “selfie” opportunity for economy nerds – or even labelled a threat to democracy.

But as budget week approaches, the major parties are once again spruiking fundraising dinners and drinks for their most loyal followers – and slugging them for thousands of dollars.

A seat at Labor’s budget night dinner on Tuesday, 12 May, with the prime minister, treasurer and senior ministers, costs $5,500, up from $5,000 last year. The event is being held somewhere in the “Canberra CBD”, according to Labor sources.

The Federal Labor Business Forum (FLBF) – a major fundraising arm for the party – will also host a more casual networking function for $2,000 per ticket. MPs and ministers are expected to attend the event likely to be held at the National Press Club.

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A top-tier membership to the FLBF costs more than $100,000 and gives holders about 25% off their tickets. Companies, including Westfarmers and Sportsbet, have reportedly held top-tier memberships.

Thursday will be the big day for the opposition leader, Angus Taylor, and the Coalition’s coffers. A ticket to the Liberal and Nationals budget-in-reply dinner costs $3300.

Publicity for the dinner promises a “great opportunity to hear directly from the leaders and to discuss … the Coalition’s plan for the future”. It will be held at the Hotel Realm ballroom, which has a capacity of up to 500 seated guests.

Meanwhile, the Liberal Bradfield federal branch is hosting a budget-in-reply watch party and dinner at Manuka Oval. The event includes watching the speech from the parliamentary gallery, followed by a three-course meal and addresses from Taylor and the shadow treasurer, Tim Wilson. Tickets cost $1,500 for non-members, $1,000 for members or $12,000 for a table of ten.

Taylor is also expected to pop into a separate budget-in-reply dinner hosted by the Cook Endeavour Forum and MP Simon Kennedy.

That “exclusive evening” event will feature shadow ministers, MPs and some Coalition candidates, along with commentary from Taylor and other senior Liberal figures. Tickets to the Cook event are the cheapest among the fundraisers, at $3,500 for a table of ten.

Privately, current and former parliamentarians said they resent being “wheeled out” for the events.

One former MP said they found such fundraisers “horrendous” and “boring”, being left to speak at length with “economics nerds”.

“You don’t raise that much money either, and it’s like ‘what are we doing?’” they said.

They guessed that politicians from all along the political spectrum hated participating in ritzy social galas.

“I can’t think of a member of parliament who does not hold that view,” they said. “That is the dirty little secret of the whole thing.”

Independent ACT senator David Pocock said “cash-for-access” type of events distorted public policymaking and were “bad for democracy”.

He wants greater transparency about how lobbyists gain access to parliament, and which politicians they attempt to influence.

“The federal budget should be about our priorities as a country, not an opportunity for corporate lobbyists to cash in at the expense of everyday Australians,” he said.

A spokesperson for the Liberal party rejected Pocock’s criticism.

“Clearly, in David Pocock’s mind, there are good political donations and bad political donations,” they said. “The good donations are the millions he’s received … Bad donations are those that go to everyone else.”

From next year, new political fundraising rules require all donations – including tickets – above $5000 to be declared, and with less delay. It might make these events look a little different.

Yaron Finkelstein, a former chief political strategist to Scott Morrison and Dominic Perrottet, fondly recalls the “Oscars for political nerds” and downplays the influence factor.

“If you get any so-called access, it’ll be 30 seconds as Jim Chalmers breezes into one of the rooms that a fundraiser is being held in, where he says a few snappy one-liners, something that resembles a political message, and on he goes to the next event,” he said.

“A well-coordinated blitzkrieg across the building would see the treasurer and the prime minister go to double-digit events – if their fundraisers are doing their job.

“It’s more selfie than policy.”



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