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It’s not hard to understand the value tight end Josh Oliver brings to the Vikings. Just listen to the way people talk about him. “He’s an animal,” tight end T.J. Hockenson said. “Once he gets his hands on somebody, it’s kind of like, ‘Good luck.'” It was similar sentiment from offensive coordinator Wes Phillips. “He’s the best blocking tight end in the league, and that’s no disrespect to anybody else,” Phillips said. “We will take Josh over anybody in this league in the role that he’s in. It’s not only that he’s physically imposing as a 270-pound man. It’s the attitude that he plays with out there.” What are the Vikings losing now that Oliver has been ruled out with an ankle injury? His absence will be felt most when the Vikings try to run the ball against the Chicago Bears on Sunday afternoon at Soldier Field. Though he has proved he can contribute in the passing game, Oliver has been a force in the running game since signing with the Vikings. There have been multiple times this season that Oliver had singlehandedly carved out space for running back Aaron Jones to go to work. That’s partially why Hockenson has played only about 50% of the offensive snaps since returning from a torn anterior cruciate ligament a few weeks ago. Even if the Vikings are often telegraphing a run when Oliver is on the field, they don’t care because they feel that strongly about his ability as a blocker. “You see it every single week,” Phillips said. “He’s moving large men and putting them on the ground.” It’s safe to assume Oliver would suit up for the Vikings if he were able to do so. He’s been playing through a wrist injury for the past few weeks, for example, and has still been extremely effective at the point of attack. How tough is it to replace Oliver in a vacuum? “It’s a big challenge because of all the things he does on a snap in and snap out basis,” head coach Kevin O’Connell said. “We will see some guys make some impacts on some different downs and distances than we have maybe seen up to this point.” Briefly The only other players on the injury report for the Vikings are tight end Nick Muse (hand) and edge rusher Gabe Murphy (knee). Both players were officially listed as questionable and being full participants in the walkthrough on Friday afternoon at TCO Performance Center. Related ArticlesRepublicans lash out at Democrats' claims that Trump intelligence pick Gabbard is 'compromised'

A closer look at the best-selling automotive groups for plugin vehicles — part 2 of 4. This is the second edition of a look into the top EV-selling OEMs . To have a look at the first edition, please check it out here . In this second one, we have a look at Hyundai–Kia, Toyota, GAC, and Mercedes. For more information on these OEMs, don’t forget to check out our report on the top 20 EV brands and auto groups in the world . Hyundai Motor Company, as it is officially known, is a South Korean automotive group based in Seoul. It was founded in 1967 and currently it is the full owner of the namesake brand (Hyundai) and the luxury brand Genesis , while being the largest shareholder (34%) in former rival Kia — since Kia declared bankruptcy in 1997, during the Asian financial crisis . While Kia is formally part of the Hyundai group, because it isn’t fully owned by Hyundai, that means that Kia retains a certain degree of autonomy. So, while the Hyundai–Kia association isn’t an Alliance of Equals , like the Renault–Nissan–Mitsubishi Alliance , Kia’s status isn’t as limited as, say, Audi, within Volkswagen Group. Hence why on the sales articles I call them Hyundai–Kia. Within the three brands, Kia is the best selling one, with 51% of the OEM’s sales. It is closely followed by Hyundai, with about 47% of the OEM’s sales. Niche Genesis is responsible for the remaining 2%. Looking at individual models, the OEM has a balanced lineup, with the top sellers being the retro-futuristic Hyundai Ioniq 5 , representing 19% of the OEM’s EV sales this year, and its sportier cousin, the Kia EV6 , is second, with 13% of sales. Those two are followed closely by the Kia Niro (BEV+PHEV) and Hyundai Kona EV , with 12% of sales each. With several new models landing or in ramp-up stage ( Kia EV3 & Kia EV5 , Hyundai Inster/Casper EV , & Hyundai Ioniq 9 ), expect the Korean OEM to continue growing steadily in 2025, probably reaching the break-even point in its EV business as a consequence. When it comes to China, the fact that its operations there are minimal — they represent just 1% of all of the OEM’s plugin sales, and counting all powertrains sales, they move fewer than 250,000 units a year, or 6% of total Hyundai–Kia sales — will eventually serve as an advantage to the Koreans. It means that if they eventually leave China, their sales and production output will not be seriously affected. Something that other legacy OEMs cannot say.... It feels a bit strange to treat Toyota as a middle-of-the-pack OEM , but that is the current reality of the Japanese make when it comes to plugins. Toyota is the biggest Japanese carmaker (and the largest in the world). Based in the Aichi prefecture, it started making vehicles in 1936, and it is a familiar name worldwide. The Toyota OEM has a few brands under its umbrella: Toyota itself Lexus — luxury arm of Toyota Daihatsu — brand focused on city and kei cars, but also offers a few compact MPVs and crossovers Hino — commercial vehicle maker. Besides these fully-owned brands, Toyota is also the largest shareholder of Subaru (20%) and part of a couple of joint ventures (JV) in China, like FAW–Toyota and GAC–Toyota , where it holds 50% of them. FAW–Toyota makes the China-only Toyota bZ3 sedan, while GAC–Toyota makes the local Toyota bZ4X . In this case, we will be focusing on the namesake brand, which is by far the best-selling plugin make in the group, representing 80% of sales. Unlike what some might believe, Toyota’s sales aren’t that PHEV-heavy, as 44% of Toyota’s total plugin sales are actually coming from pure electrics, and two out of the three best-selling models are BEVs. The bZ4X SUV is responsible for 24% of its plugin sales, while the China-only bZ3 sedan amounts to 19% of deliveries. Still, the best-selling Toyota plugin is a PHEV. That version of the Toyota RAV4 represents 25% of sales. The Japanese brand has significant exposure to China, with that market representing 22% of its plugin sales this year. So, if by any chance Toyota gets swallowed by the downward spiral of other Japanese brands in China (Honda, we are looking at you) , its overall output will be significantly reduced. No wonder, then, that Toyota needs to reach out to its Chinese partners in order to launch its upcoming EV models, the bZ3C and the bZ3X . As for 100% Toyota-developed new EVs? (crickets....) Guangzhou Automobile Group Co, also known as GAC Group, is a state-owned Chinese OEM based in Guangzhou, a city of 19 million people in the Guangdong province. It was founded in 1954 and is currently the 5 th largest OEM in China, with around 2 million units sold in 2023. Despite not having a galaxy of brands , like other Chinese OEMs, GAC has a few of them under its belt: Trumpchi — GAC’s ICE brand, focusing on SUVs and MPVs, with a few of its models also offering PHEV versions Aion — mainstream BEV brand Hyptec — luxury sub-brand of Aion GAC–Hino — joint venture, where GAC owns 90% of shares — makes Hino-based commercial vehicles. It has 50% stakes in joint ventures with Honda ( GAC–Honda ) and Toyota ( GAC–Toyota ), where it makes models from the respective Japanese OEMs. Finally, GAC has a minority (25%) stake in Hycan , a small BEV brand born out of cooperation with NIO. But since the startup brand left Hycan, in 2022, there hasn’t been any investment in it, and the brand is expected to disappear soon. The main brand in the plugin market is Aion, which represents 80% of the group’s plugin vehicle sales. The share it has of the OEM’s exports is marginal (1%), but it is expected to grow in 2025. With slowing sales in 2024, due to the lack of successful new models, and a BEV focus that led GAC to lose out in the current PHEV/EREV surge in China, the OEM hopes that new models, like the revised Aion V crossover or the new Aion UT compact hatchback, will pull them back into the growth path. Looking at the best-selling models, Aion lives on the continued success of the Aion S and Aion Y , with the sedan being responsible for 39% of the brand’s sales while the crossover represents 46% of its sales. Mercedes-Benz Group AG , also known as Mercedes, or Merc to its closest friends, is one of the most famous automotive brands worldwide, making cars in one form or another since 1885. It is headquartered in Stuttgart, Germany, and is known as one of the Three German Premium Mary’s (Audi, BMW, and Mercedes). The OEM is made of its namesake brand and a number of sub-brands associated with it, like the sport-focused Mercedes-AMG , the high-end luxury Mercedes-Maybach , and Mercedes Vans. On top of this, it still has a 30% stake in Daimler Truck AG , a spinoff company of its former commercial vehicle division, as well as a 50-50% joint venture with Geely, Smart , which started in 2019. For the purpose of counting its sales volume, because Smart is now based in Ningbo, China, and is using Geely’s platforms, drivetrains, and technology, with Mercedes being only responsible for design, I have been counting these sales under the Geely umbrella. This means that the OEM’s volume output is basically the same as the namesake brand’s output now. Mercedes has a large lineup of EVs, both BEV and PHEV, which means that the sales of its three best-selling EV models ( Mercedes EQA , EQB , and GLC PHEV ) counted together represent just 40% of its total sales. Looking at the glass half full, this means that it is not dependent on the lifecycle of one particular model, but looking at the glass half empty, it means that it lacks a star player on the team. While its exposure to the Chinese EV market is not that significant, with that market representing just 8% of Mercedes’ total PEV sales, when looking at the total number of sales, all powertrains included, things become more concerning. In 2023, over one third of all Mercedes global sales were in China , surpassing even the total number of Mercedes sold in Europe during the same period. This sales discrepancy with regard to China (8% of EV sales vs. 33%+ of overall sales) should be one of the major items of concern for the German make, because Mercedes could lose some 25% of its total sales, or over half a million sales, in a PEV-based Chinese market. And that scenario is less than five years away.... Looking at the sales of each OEM , one can see the extraordinary evolution of these OEMs in the past five years. In fact, while the best-selling one had little more than 100,000 sales in 2019, in 2024, the lowest selling of them is expected to clock in over 300,000 units. Looking at individual OEMs, the good work being done by Hyundai–Kia is clearly visible, with steady development over the years, and with the exception of 2023, it’s always the one with the highest volumes among these OEMs. Given its low exposure to the Chinese market, consistent sales performances, and technological expertise, the Korean group is probably the legacy OEM that is best managing the EV transition, and I wouldn’t be surprised if it became the largest of the legacy OEMs in a PEV-based global market. And that would allow Hyundai–Kia to compete for the 4 th position in a future global OEM ranking. Mercedes was also growing consistently, until this year, so the next couple of years will be decisive for the German OEM. The much expected 2025 CLA BEV needs to land sooner than later, and it has to be a success, just like the 2026 GLC BEV, or else things can start to get messy in Stuttgart.... GAC is also in trouble, dropping sales YoY by over 50,000 units in 2024. Next year will need to see it return to growth. Hence the launch of new models and a new focus on exports. In the cut-throat Chinese market, GAC doesn’t have the scale of Geely or SAIC, let alone BYD, to be safe in the future. Finally, Toyota. A giant in the overall market, not so much in the plugin market. Looking at the graph, while the past two years have finally seen it move the needle, that has more to do with a need to follow the electrification trend in China, where Toyota is expected to sell over 1.5 million units this year, all powertrains included, than a concerted effort to make itself noticed in the EV arena. The Japanese OEM still has tremendous potential to be one of the main players in a PEV-based automotive market. The thing is, as years go by, the window of opportunity is starting to close, and markets where Toyota is still a major player, like China and Southeast Asia, are going EV and losing their loyalty to the Japanese OEMs, and Toyota in particular. Unlike Hyundai–Kia, where one can see consistent deployment of new vehicles and platforms, on the Toyota side, excluding the China-only models (which are made with the help of local players), besides some average-specced PHEVs and the middle of the road bZ4X, there’s little more than plans, or concepts of a plan . Quo Vadis , Toyota? CleanTechnica's Comment Policy LinkedIn WhatsApp Facebook Bluesky Email Reddit

Indian startups raise $250 million across 18 deals this week, up 72 pcMatt Gaetz says he won't return to Congress next year after withdrawing name for attorney general WASHINGTON (AP) — Matt Gaetz is not coming back to Congress. The Florida Republican said Friday he has no intention of serving another term in the House now that he is no longer President-elect Donald Trump's nominee for attorney general. Gaetz withdrew as the nominee this week amid growing fallout from the allegations of sexual conduct against him. Gaetz denies the allegations. Gaetz didn't lay out his plans now that he's out of office, saying only, “I’m still going to be in the fight, but it’s going to be from a new perch." After Gaetz's withdrawal on Thursday, Trump named former Florida attorney general Pam Bondi to lead the Justice Department. Vance takes on a more visible transition role as he works to boost Trump's most controversial picks WASHINGTON (AP) — After several weeks working behind closed doors, Vice President-elect JD Vance returned to Capitol Hill this week in a new, more visible role. He's been helping Donald Trump’s most contentious Cabinet picks try to win confirmation in the Senate, where he has served for the last two years. Vance spent part of Wednesday at the Capitol with Rep. Matt Gaetz sitting in on meetings with Trump’s controversial choice for attorney general. On Thursday, Vance was back, this time accompanying Pete Hegseth. Vance is expected to accompany other nominees for meetings over the coming weeks as he tries to leverage the two years he has spent in the Senate to help push through Trump’s picks. Beyond evangelicals, Trump and his allies courted smaller faith groups, from the Amish to Chabad Donald Trump’s lock on the white evangelical vote is legendary, but he didn't focus exclusively on large religious voter blocs. He and his allies also wooed smaller religious groups, away from the mainstream. He posted a tribute to Coptic church members on social media and met with members of Assyrians for Trump — two smaller Christian communities with Middle Eastern roots. He visited the grave of the revered late leader of an Orthodox Jewish movement. His allies sought votes from the separatist Amish community. While Trump won decisively, the outreaches reflected aggressive campaigning in what was expected to be a tight race. NATO and Ukraine to hold emergency talks after Russia's attack with new hypersonic missile KYIV, Ukraine (AP) — NATO and Ukraine will hold emergency talks Tuesday after Russia attacked a central city with a hypersonic ballistic missile that escalated the nearly 33-month-old war. Ukraine's parliament canceled a session Friday over the security threat. In a stark warning to the West, President Vladimir Putin said in a nationally televised speech Thursday that the attack with the intermediate-range Oreshnik missile was retaliation for Kyiv’s use of U.S. and British longer-range missiles capable of striking deeper into Russian territory. Putin said Russia is launching production of the Oreshnik, saying it's so powerful that several of them fitted with conventional warheads could be as devastating as a strike with strategic — or nuclear — weapons. Texas education board approves optional Bible-infused curriculum for elementary schools AUSTIN, Texas (AP) — Texas’ education board has voted to allow Bible-infused teachings in elementary schools. The approval Friday follows other Republican-led states that have pushed this year to give religion a larger presence in public classrooms. The curriculum adopted by the Texas State Board of Education is optional for schools to adopt, but they’ll receive additional funding if they do so. Parents and teachers who opposed the curriculum say the lessons will alienate students of other faith backgrounds. Supporters argue the Bible is a core feature of American history and that teaching it will enrich learning. 2 convicted in human smuggling case after Indian family froze to death on US-Canada border FERGUS FALLS, Minn. (AP) — A jury has convicted two men of charges related to human smuggling for their roles in an international operation that led to the deaths of a family of Indian migrants who froze while trying to cross the Canada-U.S. border during a 2022 blizzard. Harshkumar Ramanlal Patel and Steve Shand each faced four charges related to human smuggling before being convicted on Friday. Patel is an Indian national. Shand is an American from Florida. They were arrested after the family froze while trying to cross the desolate border during a 2022 blizzard. Northern California gets record rain and heavy snow. Many have been in the dark for days in Seattle FORESTVILLE, Calif. (AP) — A major storm with heavy snow and record rain that's moving through Northern California has toppled trees, closed roads and prompted evacuations in some areas after knocking out power to hundreds of thousands of people in Washington and Oregon. Forecasters warn that the risk of flash flooding and rockslides will continue through Friday. The National Weather Service has extended a flood watch for areas north of San Francisco as a plume of moisture known as an atmospheric river inundates Northern California and the Pacific Northwest. Up to 16 inches of rain is forecast in Northern California and southwestern Oregon. The storm system unleashed winds earlier this week that left two people dead and hundreds of thousands without power in Washington. Archaeologists discover 4,000-year-old canals used to fish by predecessors of ancient Maya WASHINGTON (AP) — Using drones and Google Earth imagery, archaeologists have discovered a 4,000-year-old network of earthen canals in what’s now Belize. The research published Friday in Science Advances shows that long before the ancient Maya built temples, their predecessors were already altering the landscape of Central America’s Yucatan peninsula. The ancient fish canals were used to channel and catch freshwater species such as catfish. These structures were used for around 1,000 years — including during the “formative” period when the Maya began to settle in permanent farming villages and a distinctive culture started to emerge. California case is the first confirmed bird flu infection in a US child Health officials are confirming bird flu in a California child — the first reported case in a U.S. minor. The Centers for Disease Control and Prevention announced confirmatory test results on Friday. Officials say the child had mild symptoms, was treated with antiviral medication and is recovering. The child’s infection brings the reported number of U.S. bird flu cases this year to 55, including 29 in California. State officials have said the child lives in Alameda County, which includes Oakland, and attends day care, but released no other details. Giants release quarterback Daniel Jones just days after benching him EAST RUTHERFORD, N.J. (AP) — The Daniel Jones era in New York is over. The Giants quarterback was granted his release by the team just days after the franchise said it was benching him in favor of third-stringer Tommy DeVito. New York president John Mara said Jones approached the team about releasing him and the club obliged. Mara added he was “disappointed” at the quick dissolution of a once-promising relationship between Jones and the team. Giants coach Brian Daboll benched Jones in favor of DeVito following a loss to the Panthers in Germany that dropped New York's record to 2-8.

RICHMOND, Va. , Nov. 22, 2024 /PRNewswire/ -- Universal Corporation (NYSE:UVV) ("Universal" or the "Company"), a global business-to-business agriproducts company, today announced that, as expected, on November 19, 2024 , it received a notice (the "NYSE Notice") from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the "Form 10-Q") with the U.S. Securities and Exchange Commission (the "SEC") prior to November 18, 2024 , the end of the extension period provided by Rule 12b -25 under the Securities Exchange Act of 1934, as amended. The NYSE Notice has no immediate effect on the listing of the Company's common stock on the NYSE. The NYSE Notice informed the Company that, under NYSE rules, the Company has six months from November 18, 2024 , to regain compliance with the NYSE listing standards by filing the Form 10-Q with the SEC. If the Company fails to file the Form 10-Q within the six-month period, the NYSE may grant, in its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The NYSE Notice also noted that the NYSE may nevertheless, in its own discretion, commence delisting proceedings at any time during such period. As previously disclosed in the Company's Notification of Late Filing on Form 12b-25, filed on November 12, 2024 (the "Form 12b-25") with the SEC, the Company was unable to file the Form 10-Q on a timely basis due to an ongoing internal investigation. As a result of the additional time required to complete its internal investigation, the process of finalizing financial statements for the second quarter of fiscal year 2025 could not be completed on a timely basis. The Company is committed to completing a deliberate, thorough investigation while diligently working to fulfill all reporting obligations and currently expects to file the Form 10-Q within the six-month period granted by the NYSE Notice; however, there can be no assurance that the Form 10-Q will be filed within such period. About Universal Corporation Universal Corporation (NYSE: UVV) is a global agricultural company with over 100 years of experience supplying products and innovative solutions to meet our customers' evolving needs and precise specifications. Through our diverse network of farmers and partners across more than 30 countries on five continents, we are a trusted provider of high-quality, traceable products. We leverage our extensive supply chain expertise, global reach, integrated processing capabilities, and commitment to sustainability to provide a range of products and services designed to drive efficiency and deliver value to our customers. For more information, visit www.universalcorp.com . CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Among other things, these statements include statements regarding expectations about the Company's filing of its Form 10-Q for the quarter ended September 30, 2024 . These forward-looking statements are generally identified by the use of words such as we "expect," "believe," "anticipate," "could," "should," "may," "plan," "will," "predict," "estimate," and similar expressions or words of similar import. These forward-looking statements are based upon management's current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results, performance, or achievements to be materially different from any anticipated results, prospects, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the uncertainty of the ultimate findings of the ongoing internal investigation, as well as the timing of its completion and costs and expenses arising out of the ongoing internal investigation process and its results; the impact of the ongoing internal investigation on us, our management and operations, including financial impact as well as any litigation or regulatory action that may arise from the ongoing internal investigation; the impact of the internal investigation on our conclusions regarding the effectiveness of our internal control over financial reporting and our disclosure controls and procedures; our ability to regain compliance with NYSE listing requirements; success in pursuing strategic investments or acquisitions and integration of new businesses and the impact of these new businesses on future results; product purchased not meeting quality and quantity requirements; our reliance on a few large customers; our ability to maintain effective information technology systems and safeguard confidential information; anticipated levels of demand for and supply of our products and services; costs incurred in providing these products and services including increased transportation costs and delays attributed to global supply chain challenges; timing of shipments to customers; higher inflation rates; changes in market structure; government regulation and other stakeholder expectations; economic and political conditions in the countries in which we and our customers operate, including the ongoing impacts from international conflicts; product taxation; industry consolidation and evolution; changes in exchange rates and interest rates; impacts of regulation and litigation on its customers; industry-specific risks related to its plant-based ingredient businesses; exposure to certain regulatory and financial risks related to climate change; changes in estimates and assumptions underlying our critical accounting policies; the promulgation and adoption of new accounting standards, new government regulations and interpretation of existing standards and regulations; and general economic, political, market, and weather conditions. Actual results, therefore, could vary from those expected. Please also refer to such other factors as discussed in Part I, Item 1A. "Risk Factors" of Universal's Annual Report on Form 10-K for the fiscal year ended March 31, 2024 , and related disclosures in other filings which have been filed with the U.S. Securities and Exchange Commission and are available on the SEC's website at www.sec.gov . All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all of the forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. Universal cautions investors not to place undue reliance on any forward-looking statements as these statements speak only as of the date when made, and it undertakes no obligation to update any forward-looking statements made, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/universal-corporation-receives-nyse-notice-regarding-filing-of-form-10-q-for-the-fiscal-quarter-ended-september-30-2024-302314579.html SOURCE Universal Corporation

Jaland Lowe, Pitt charge past LSU in second half to move to 6-0

About 75,000 homes with approved development applications across Greater Sydney have not commenced construction, underscoring the state government’s struggle to tackle the housing crisis in the face of tough economic conditions. Weeks after NSW Labor revealed its latest major planning reform, a three-person development authority to expedite approval times, Planning Minister Paul Scully conceded the success of any regulatory change was dependent on economic pressures subsiding. “We acknowledge that macroeconomic conditions are tough at the moment, but the need for more housing is too urgent, and when economic conditions shift, the planning system needs to be at its most effective and efficient,” Scully said. Premier Chris Minns wants to fast-track higher-density development in Sydney. Economic headwinds are undermining his reforms. Credit: The scale of the housing challenge confronting NSW has only intensified since Premier Chris Minns took government in March last year. After committing to build 263,000 homes across Greater Sydney by July 2029, departmental forecasts now expect only 151,670 will be constructed in that time. NSW needs to build 75,000 homes a year for the next five years to meet its commitments under the National Housing Accord. Last month, the Herald revealed only 45 per cent of 895 approved development applications for large-scale housing projects – builds with at least 19 new dwellings – had obtained construction certificates by March this year , according to an analysis by University of Sydney Emeritus Professor Peter Phibbs, reflecting the broad economic challenges faced by the development industry. The stalled applications represented 47,536 dwellings, more than double the net completions in the previous year to June. But further figures obtained by this masthead under freedom of information laws highlight how economic headwinds are not just affecting projects with large capital costs, but all types of housing, showing proponents with approved development applications of all sizes were delaying or jettisoning construction plans. In NSW, 13,687 development applications were approved since 2021-22 but had not begun construction as of March 10, data from the Department of Planning, Housing and Infrastructure shows. The stalled projects would provide 75,205 dwellings. University of NSW City Futures Research Centre director Professor Bill Randolph said the sheer number of approved development applications demonstrated the problem with fixating reform on the planning system, saying there was a greater counter-cyclical role for government to play in delivering affordable housing. “It’s the market, not the planning system, that determines the rate of which stuff gets built. That’s becoming more and more evident,” he said, adding that the current downturn in the economic cycle had been exacerbated by the pandemic, migration, and then inflation. “We’re just chasing our tails if we think reforming the planning system is going to solve this.” The department’s data, updated in late October, showed net completions over the preceding 12 months to June had plunged to just above 21,000, 18 per cent below the previous five financial years’ average. In a bright spot for the government, October experienced the highest number of approvals since May 2023, nearly 35 per cent more than the preceding month. Last month, Minns said that dealing with construction feasibility across Greater Sydney was a “complex issue”, but he noted that access to finance and capital was “harder to get today than it has been for decades”. Scully said the government was doing everything in our remit to “streamline the planning system”, smoothing out kinks in the development pipeline that were slowing down housing delivery. “Of course we want building commencements to align with housing approvals, but this comes down to development feasibility, labour costs, interest rates, building material costs and sometimes consent conditions,” he said. Shadow planning minister Scott Farlow said the problem appeared to be especially affecting Sydney, noting the number of development application approvals not commenced had increased by 18 per cent over the last year while falling in other capital cities. He criticised the government’s imposition of a housing and productivity tax on developments last year, saying it had exacerbated the city’s feasibility crisis as increases in the cost of construction and land outpace apartment prices. Property Council NSW executive director Katie Stevenson said getting shovels in the ground was proving difficult across Greater Sydney, blaming high government taxes and charges, as well as “delays in post-approval decision-making”, such as when acquiring additional approvals and licences from agencies such as Sydney Water. “Without government action to make it economically viable for the property sector to build more homes, the housing crisis is only going to get worse,” she said. “The NSW government can’t control all the costs preventing housing delivery, but one lever they can pull is to put a temporary pause on newly introduced additional taxes and charges on development during the National Housing Accord period to kickstart the housing delivery communities need.” The Morning Edition newsletter is our guide to the day’s most important and interesting stories, analysis and insights. Sign up here .

Household wealth climbs to record on higher stock valuesMIPE: Financing agreement with EIF worth 106.7 million EUR for Innovation Romania Programme