Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Australia's Albanese claims election victory, riding anti-Trump wave
    Headlines

    Australia's Albanese claims election victory, riding anti-Trump wave

    Australia's Albanese claims election victory, riding anti-Trump wave

    Published by Global Banking and Finance Review

    Posted on May 3, 2025

    Featured image for article about Headlines

    By Kirsty Needham, Alasdair Pal and Christine Chen

    SYDNEY (Reuters) -Australia’s Anthony Albanese claimed a historic second term as prime minister on Saturday in a dramatic comeback against once-resurgent conservatives that was powered by voters' concerns about the influence of U.S. President Donald Trump.

    Peter Dutton, leader of the conservative Liberal party, conceded defeat and the loss of his own seat - echoing the fate of Canada's conservatives and their leader whose election losses days earlier were also attributed to a Trump backlash.

    Supporters at Labor’s election party in Sydney cheered and hugged each other as Albanese claimed victory and said his party would form a majority government.

    "Our government will choose the Australian way, because we are proud of who we are and all that we have built together in this country," Albanese told supporters.

    "We do not need to beg or borrow or copy from anywhere else. We do not seek our inspiration from overseas. We find it right here in our values and in our people," he added.

    Albanese would be the first Australian prime minister to win a consecutive term in two decades. He said Australians had voted for fairness and "the strength to show courage in adversity and kindness to those in need".

    The Australian Electoral Commission website projected Labor would win 81 of 150 seats in the House of Representatives, increasing its majority in parliament, with 68% of the vote counted.

    Dutton - whose Liberals had been leading in opinion polls as recently as February until he became dogged with comparisons to Trump - said he had phoned Albanese to congratulate him.

    "We didn't do well enough during this campaign. That much is obvious tonight, and I accept full responsibility for that," Dutton said in a televised speech.

    The former policeman with a reputation for being tough on crime and immigration said he had spoken to Labor's candidate in the seat of Dickson he had held for two decades, and congratulated her on her success.

    "We have been defined by our opponents in this election which is not the true story of who we are" Dutton said, promising the party would rebuild.

    TRUMP COMPARISONS

    Cost-of-living pressures and concerns about Trump's volatile policies had been among the top issues on voters' minds, opinion polls showed.

    "If you sling enough mud it will stick," said Liberal Senator for the Northern Territory Jacinta Price, whose comments that her party would "make Australia great again" had fuelled comparisons to Trump's own "Make America Great Again" slogan.

    "You made it all about Trump," she said on ABC. Dutton had said he would appoint Price to a ministry of government efficiency, one of several echoes of Trump's policies.

    "Losing Peter Dutton is a huge loss," she added.

    Opposition Liberal Party spokesman, Senator James Paterson, defended the conservative campaign, which he said was negatively affected by "the Trump factor".

    "It was devastating in Canada for the conservatives ... I think it has been a factor here, just how big a factor will be determined in a few hours' time," he earlier told ABC.

    Earlier, as counting got under way, Labor Treasurer Jim Chalmers said the government had been "in all sorts of trouble" at the end of 2024 but got back into the contest because of Albanese's strong campaign performance, policies that addressed concerns about the cost of living, and the Trump effect.

    As the results started emerging, he told ABC the projected victory was "a win for the ages”. Albanese "has pulled off one of the great political victories since federation,” he said.

    The results were "absolutely unbelievable", Labor supporter Melinda Adderley, 54, said through her tears at the election party.

    (Reporting by Kirsty Needham and Alasdair Pal in Sydney; Editing by Edmund Klamann and Andrew Heavens)

    Related Posts
    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say
    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz
    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz
    Slovaks rally against government moves they see damaging rule of law
    Slovaks rally against government moves they see damaging rule of law
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    US threatens countermeasures after EU fine on Musk's X
    US threatens countermeasures after EU fine on Musk's X
    EU drops 2035 combustion engine ban as global EV shift faces reset
    EU drops 2035 combustion engine ban as global EV shift faces reset
    Israeli settler kills 16-year-old Palestinian in West Bank, mayor says
    Israeli settler kills 16-year-old Palestinian in West Bank, mayor says
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    Campari's parent company settles tax dispute with 405 million euro payment
    Campari's parent company settles tax dispute with 405 million euro payment
    Universal offers to sell Downtown's Curve to win EU approval, source says
    Universal offers to sell Downtown's Curve to win EU approval, source says
    Reactions to European Commission proposal to reverse 2035 combustion engine ban
    Reactions to European Commission proposal to reverse 2035 combustion engine ban

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    Italy's offshore wind push languishes, putting climate goals at risk

    Italy's offshore wind push languishes, putting climate goals at risk

    New Rome metro stations showcase ancient treasures after years of delays

    New Rome metro stations showcase ancient treasures after years of delays

    New Czech government signals tough stance on migration, EU emissions rules

    New Czech government signals tough stance on migration, EU emissions rules

    What's in the European Commission's proposals to reverse 2035 combustion engine ban? 

    What's in the European Commission's proposals to reverse 2035 combustion engine ban? 

    Zaporizhzhia nuclear plant running on single power line, Russia says

    Zaporizhzhia nuclear plant running on single power line, Russia says

    No news on whereabouts or health of Iranian Nobel laureate Narges Mohammadi, supporters say

    No news on whereabouts or health of Iranian Nobel laureate Narges Mohammadi, supporters say

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    Germany wraps up Patriot air defence mission in Poland

    Germany wraps up Patriot air defence mission in Poland

    Bosnian police detain two officials over deadly retirement home fire

    Bosnian police detain two officials over deadly retirement home fire

    Explainer-Bondi Beach suspects travelled to Philippine region known for Islamist militancy

    Explainer-Bondi Beach suspects travelled to Philippine region known for Islamist militancy

    Family of Bondi hero in Syria says his home country is proud of him

    Family of Bondi hero in Syria says his home country is proud of him

    UK police charge two men with belonging to Hezbollah, attending terrorism training

    UK police charge two men with belonging to Hezbollah, attending terrorism training

    View All Headlines Posts
    Previous Headlines PostRussia's Medvedev says nobody can guarantee Kyiv's safety if Ukraine attacks Moscow on May 9
    Next Headlines PostIn Congo, M23 rebels’ latest fight is to revive the economy