Australia storms to relay gold, alarm bells over universities’ business model, Russia frees US journalist

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Relay team sets new Olympic record; concern at universities’ dependence on international students; prisoner swap a ‘feat of diplomacy’, Biden says

Mollie O’Callaghan, Lani Pallister, Brianna Throssell and Ariarne Titmus celebrate after winning gold in the 4x200m freestyle relay final at the Paris Olympics.Mollie O’Callaghan, Lani Pallister, Brianna Throssell and Ariarne Titmus celebrate after winning gold in the 4x200m freestyle relay final at the Paris Olympics.Good morning.

In our Degrees Devalued series: critics claim that the dependence of Australian universities on international student fees has fuelled an unstable business model and a culture of “revenue, profit and competition” – as the institutions struggle to make up for lost government funding. And the Wall Street Journal reporter Evan Gershkovich and others have been freed in the biggest prisoner exchange between Russia and the west since the cold war.

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