The 10 most important things in the world right now

Swiss climber Ueli Steck after scaling Droite mountain in the French Alps with just an ice-axe, crampons and no safety rope. Famed for his climbing speed records, Steck died on 30 April after falling 1000m as he was acclimatising for an attempt on the West Ridge of Everest without supplemental oxygen. Photo: Jonathan Griffith/Barcroft Med/ Getty Images

1. UK prime minister Theresa May has once again threatened to walk away if the EU’s Brexit deal is bad. During an interview on BBC One, May said she’d complete a trade deal within two years as well as sorting out the Brexit package, but wasn’t afraid to leave without a deal. Meanwhile European Commission Jean-Claude Juncker is saying the talks in danger of collapse because of differences between the two sides.

2. Theresa May isn’t ruling out tax hikes ahead of Britain’s June 8 election. Interviewed on Sunday, the prime minister said: “We have absolutely no plans to increase the level of tax. But I’m also very clear that I do not want to make specific proposals on taxes unless I am absolutely sure that I can deliver on those.” She later ruled out putting up VAT – the UK’s goods and services tax.

3. British politicians want Google, Twitter, and Facebook to pay police to find extremist content on their sites. The Home Affairs Committee investigating the tech giants have concluded that they’re not doing the job well enough themselves, and it’s “a disgrace” they don’t delete illegal material quickly enough when it’s found.

4. America won’t be shutting down for now. US congressional negotiators reached a bipartisan deal on a spending package to keep the federal government funded until September 30, the end of the current fiscal year. The House of Representatives and Senate must approve the deal by Friday for President Trump to sign and avoid the first government shutdown since 2013.

5. Donald Trump doubled down on mistaken claims about China’s currency intervention. Having accused China of being a “currency manipulator”, something even critics say ended in 2014, on the weekend the US president claimed he didn’t have to follow through on his threats because as “soon as I got elected, they stopped… I was the one that got them to stop”.

6. Philippine president Rodrigo Duterte says North Korean leader Kim Jong-un “wants to end the world”. Speaking on behalf of the 10-member Association of South-East Asian Nations (ASEAN), Duterte warned America to tread carefully and show restraint. Trump subsequently called the controversial Philippines leader to invite him to the White House.

7. Hong Kong’s “one country, two systems” policy could be scrapped if it’s used to confront Beijing, a senior official has warned. The legal chief of the city’s liaison office, Wang Zhenmin, spoke out against separatist pushes in Hong Kong saying “one country” has priority.

8. Facebook’s Australian revenue jumped 10-fold after the country introduced a ‘Google tax’. After generating $33.6 million in 2015, the figure exploded to $326.9 million last year when the “Multinational Anti-Avoidance Law” began. The other big increase was in “costs of revenue”, which went from $0 in 2015 to $275.2 million last year. Facebook Australia only made $3 million in net profit after paying $3.27 million in tax.

9. If you’ve become rich, it will probably only last until your grandkids. The Centre for Economics and Business Research had a look at the Sunday Times Rich List and concluded that “wealth is often gained and lost within three generations”. Their conclusions are a jab at Nobel Prize winning economist Thomas Piketty, and his book on wealth and income inequality, “Capital in the Twenty-First Century”.

10. Atlassian co-founder Scott Farquhar is spending more than $70 million on an historic house beside Sydney Harbour. Elaine, built in 1863, was home to four generations of the Fairfax media dynasty and is now the country’s most expensive residential property.

And VERY finally

How the universe will end

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