Labor pushes for above-inflation wage rise despite RBA warning
Reserve Bank governor Michele Bullock has warned that increasing wages while productivity remains stagnant will put future interest rate cuts at risk.
ASX to rise, Tesla leads Wall St tech rebound
Australian shares are poised to edge higher. The Nasdaq paced New York’s mixed session. Goldman sees lower US yields. Follow updates here.
Higher wages without productivity? That’s what Labor reckons
Murray Watt’s claim that living standards are rising is a bold call amid an election being fought over one of the developed world’s biggest cost-of-living squeezes.
Trump’s reciprocal tariffs to take immediate effect, White House says
The president is set to roll out global tariffs on US trading partners at an event at the White House at 7am AEDT on Thursday.
RBA won’t join desperate guessing game
Central banks are as much on edge as markets, as the world waits to learn the impact and extent of Donald Trump’s tariffs. Caution reigns at the Reserve Bank, writes Jennifer Hewett.
Di Pilla spruiks Healthscope bid, says he’ll keep hospitals running
The veteran dealmaker’s HMC Capital has been eyeing the country’s second-largest operator of private hospitals, and says his proposal is “a serious one”.
Dutton pledges to lift game, Taylor to fast-track foreign investment
The opposition leader has promised colleagues his campaign will improve after a slow start marked by a series of missteps and slippage in the polls.
Stay up to date in the lead-up to polling day, then keep receiving The Week in Politics newsletter to make sense of the results.
FEDERAL ELECTION
Fears that Trump’s tariff sting could be as high as 20pc
Anthony Albanese and Peter Dutton say they won’t sacrifice subsidised medicine, biosecurity or making tech giants pay for local news as US turns levy screws.
Labor’s not so secret weapon to win SA comes with limitations
Anthony Albanese has picked up the playbook of popular South Australian Premier Peter Malinauskas, hoping that health funding will secure victory over Peter Dutton.
‘Not going to happen’: Dutton accuses Allan of SRL obsession
The opposition leader promised to stop funding Melbourne’s Suburban Rail Loop, making it a defining issue in the federal election in Victoria.
Coalition plan to lower lending standards ‘will drive up house prices’
A Peter Dutton-led government would direct the prudential regulator to lower the home loan serviceability buffer if it wins the federal election.
Teal candidate apologises for sexualised joke to teen hairdresser
Teal candidate Nicolette Boele allegedly told a teenage hairdresser her hair wash “was so good and I didn’t even have sex with you”.
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Companies
Bookmaker behind Ladbrokes turned blind eye to drug money laundering
Over 640 pages, Austrac accuses the UK bookmaking giant of failing to catch “large amounts of money being regularly moved”.
What to expect from ANZ’s new chief executive Nuno Matos
If the new ANZ boss’ execution mandate turns into executioner, investors will not mind. The first 100 days will be telling.
Cettire recruits Accent shoe chief Daniel Agostinelli to its board
The online luxury store has overhauled its board and appointed the veteran retailer as it faces continued investor uncertainty about its outlook.
Virgin plans June listing as it restructures into a public company
The Bain Capital-controlled airline’s executives have begun weeks of meeting with prospective investors in a roadshow that is billed as a business update.
Fitch Ratings says Gupta’s InfraBuild faces default within months
The sprawling steel business is the British industrialist’s last good asset. The credit agency says a breach of its lending agreement “appears probable”.
HESTA says WiseTech’s new director ‘falls short’ of expectations
The industry superannuation major is concerned that the logistics software giant has appointed its former chairman as lead independent director.
StrongRoom investors at war as founders hit with freezing orders
A European venture capital firm has accused EVP of destroying the prospects of the pharmaceutical software start-up after reporting the company to police.
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Markets
Gold soars to $5000 in ‘once in 40-year gift’ for investors, fundies
The relentless rally has pushed the gold price almost 20 per cent higher this year, its best quarter since 1986. Money managers can see opportunities.
US manufacturing activity shrinks for first time this year
The ISM’s manufacturing index declined 1.3 points last month to 49. The group’s price measure increased to the highest since June 2022.
Tesla sales to quantify impact of Musk backlash
Analysts expect that the EV maker likely delivered about 390,000 cars in the first quarter, according to estimates compiled by Bloomberg.
Traders temper rate cut bets for May after RBA holds its nerve
The Reserve Bank has left the cash rate on hold at 4.1 per cent, but remains “cautious about the outlook” amid an escalating trade war.
What bond managers expect from Trump’s tariffs
Australian bonds may be stuck in the middle of Trump’s trade war, but some fund managers expect the deteriorating growth outlook to spur a rally in bonds.
Opinion
RBA won’t join desperate guessing game
Central banks are as much on edge as markets, as the world waits to learn the impact and extent of Donald Trump’s tariffs. Caution reigns at the Reserve Bank.
Columnist
The 3 rules to understand Trump’s tariffs
Countries must remember that the US president’s trade policy is about power and security, not economics.
Contributor
A Trump–proof Australia needs productive industrial relations
The lack of a real election contest over greater workplace flexibility will condemn Australia to lower productivity and leave the nation less protected.
Editorial
More rate cuts? That would have to be an April Fool’s joke
The inflation fighter deep inside Michelle Bullock has resurfaced, and the RBA has reminded everyone that restoring price stability is the main game.
Economist
Higher wages without productivity? That’s what Labor reckons
Murray Watt’s claim that living standards are rising is a bold call amid an election being fought over one of the developed world’s biggest cost-of-living squeezes.
Editor-at-large
Influencers in parliament? The outrage is as tired as it is sexist
The response to female influencers in Parliament House was extravagant and patronising. Confirmation that the political class still thinks young women shouldn’t worry their pretty little heads about money.
Deputy Managing Director at Future Women.
Politics
Dutton rules out superannuation changes, flags big education overhaul
The opposition leader echoed Tony Abbott’s 2013 pledge of not slashing health or education, but indicated the schools would face a major overhaul.
Matt Kean has ‘material interests’ in carbon credit schemes
The Climate Change Authority chairman is a green investment adviser on the side. Experts say it’s above board despite “tremendous advantage” to Wollemi Capital.
Gas policy ‘taken over by activists’: Beach CEO
Brett Woods also took aim at politicians opposing local gas supply projects that are forcing the industry towards more emissions intensive and expensive imports.
RBA has interest rate trigger for Trump trade war
The Reserve Bank of Australia isn’t quite sure what impact Donald Trump’s imminent next round of tariffs will have on inflation, but it is ready to act.
This ‘nightmare’ superannuation reform has small businesses worried
Small businesses owed $1.8 billion in unpaid super in 2023, now reforms aimed to make sure it is paid on time has them on edge.
SPONSORED
World
China holds military exercises around Taiwan in fresh warning
Taiwan tallied 71 sorties by Chinese military aircraft, and 21 navy ships ranged around the island, including a group accompanying the Shandong aircraft carrier.
UK names Russia as a top-level foreign influence threat
The move means that anyone who does business with Russian agencies must register their activity with British authorities.
Bitcoin investor buys an entire SpaceX flight for the ultimate polar adventure
Chun Wang has already visited the polar regions in person and wants to view them from space. The trip is also about “pushing boundaries, sharing knowledge”.
Consulting firms offer concessions to head off Trump cuts
Three of the 10 large consultancies facing a Tuesday (AEDT) deadline to submit money-saving proposals offered a menu of options that could cut at least $24 billion.
NZ braces for global elite rush as golden visa opens
Immigration Minister Erica Stanford said there has been a “huge amount of interest” in the visa that starts on Tuesday after the rules were overhauled.
Property
Home builder AVJennings accepts $365m takeover bid
A takeover battle for the builder erupted between a US bidder and a Singaporean player. Local builders face tough conditions, but their land banks are appealing.
Lendlease lands Japanese investors for $1.5b London tower
Under pressure from investors, the company is in the thick of a wide-ranging overhaul of its business to reduce global exposures. The London deal is a boost.
Home prices climb to record high
The February interest rate cut has revived confidence and boosted demand, despite only a small improvement in affordability.
Japan’s Daibiru picks up Sydney office tower in $600m deal
Major Japanese players are investing more in Australian real estate, commercial and residential.
Buyer pays $190,000 above their own pre-auction offer to secure home
The vendor was happy with the strength of bids made during the campaign but pushed it to auction anyway – and it was worth their while.
Wealth
4 charts reveal whether to cash out before ‘Liberation Day’
Warren Buffett, Li Ka-shing and Chanticleer emeritus Tony Boyd cashed up before Donald Trump’s next tariff announcement. Did they do the right thing?
How this expat turned $6300 into a UK pension worth $370,000
Experts say 2 million Australians could qualify for a UK pension when they retire, but the opportunity is about to become less lucrative.
This 5-minute test promises to make you a better investor
It’s never been easier to get a “money personality” assessment that offers to unlock your personal investing secrets. But is there any science to it?
Technology
Alibaba preparing for flagship AI model release as soon as April
Alibaba Group Holding is planning to release Qwen 3, an upgraded version of its flagship AI model, as soon as this month.
Fancy a robot to clean your windows? This one will give it a shot
It’s early days in the advent of window-cleaning robots, and they don’t do a terrific job. But Ecovacs’ Winbot W2 Pro Omni doesn’t do a bad job, either.
OpenAI finalises biggest ever tech funding round at $US300b valuation
The ChatGPT maker has closed the largest private funding round in history, at $US40 billion, led by Japanese investor SoftBank.
Work & Careers
‘Intent’ of non-compete ban may benefit some high earners
Labor’s new rules could extend to white-collar workers who make more than $175,000 when including bonuses.
Diversity push triggers bidding war for female talent
Companies have sparked a bidding war for senior female talent by focusing on getting women into leadership positions without expanding their female pipelines.
Life & Luxury
The former banker who created the perfect white T-shirt
Australian-born, New York-based Kiane von Mueffling pivoted into fashion – and found a specialty where she least expected it.
Art Basel Hong Kong reveals the resilience of the region’s collectors
The Americans and Europeans may have their worries, but the Chinese were splashing cash, and Australian collectors were back in greater numbers.
My day inside the world’s most hated car
Journalist Saahil Desai drove around Washington, DC, in a Tesla Cybertruck. In the town that Elon Musk is tearing apart, he didn’t go unnoticed.
Vale Gwen Robinson, intrepid journalist who could tame huge egos
The Asia expert was known for her network of contacts, bold reporting and extraordinary kindness to young journalists and anyone needing help.
Is drinking just a little alcohol OK? Here’s a cancer expert’s verdict
As an oncologist, I have critically appraised scientific research to evaluate its quality. Here are three key takeaways.
