Today
Wall St plunge, bond ‘crisis’ show investors are losing faith in Trump
The president’s sprinkles of compromise are no longer enough to override the realisation that the economic effect of the war – and the fighting – will stick around for a while yet.
‘It will affect everything’: This was the week the war hit home
The war is no longer distant. From farms to supermarkets, the shock is spreading through the economy, and Australia could be pushed towards recession if it drags on.
Yesterday
Australia warns travellers of strikes on Dubai hotel; US deploys ‘drone speedboats’
DFAT has urged travellers to seek shelter over possible strikes on a Dubai hotel; Drone speedboats have been deployed into the Middle East; Anthony Albanese says six tankers of fuel en route; direct talks with Malaysia for supply ongoing. Follow live.
How the fuel crisis could fix a hole in the EV market
Stephen Yiu lives near a petrol station, and is constantly reminded of his escape from soaring prices as new and used EV sales jump.
Fuel supply now guaranteed until May, after which uncertainty looms
The prime minister says there will be a nationally consistent response to the fuel crisis and not a rerun of the COVID-19 fiasco where states went their own ways.
Prepare for synchronised global hikes
Between the Iran war supply shock and the upward revision of “neutral” rates, we are staring at a cash rate of at least 5 per cent.
The US won’t protect you, top diplomat warns Australia
Former DFAT boss Peter Varghese has urged the Albanese government to pursue a more self-reliant defence policy, arguing US global primacy is not a key interest.
Rinehart cheers young Aussies on MAGA fact-finding mission
Young Australian conservatives backed by entrepreneur Steve Baxter bumped into Australia’s richest person in Texas at a politician action conference.
After Trump’s rebuke, Washington insider backs Albanese’s war effort
The US president hit out at Australia’s war effort, as he again extended a deadline for Tehran to open the Strait of Hormuz or face strikes on its power plants.
PM says fuel supply ‘remains secure’; NextDC ices $500m deal; 24 days to disaster
Read everything that’s happened in the news so far today.
As the world burns, Canberra fumbles
The economic effects of the Iran crisis make the Albanese government’s budget decisions harder – but also more necessary to make tough choices. That’s not happening.
24 days to disaster: Trump’s new deadline won’t change oil shock maths
It’s hard to avoid thinking Trump’s fresh cut-off for a deal with Iran wasn’t prompted by a sell-off on Wall Street. Whatever the case, he’s running out of time.
This Month
Pentagon reportedly plans ‘final blow’ in Iran; Trump threatens more bombings
The US is reportedly preparing options for a dramatic military escalation in Iran; Israel says it has killed the head of the IRGC navy. Follow live updates.
Trump insists Iran desperate for a deal as crisis deepens
Iran’s foreign minister insisted peace talks with the US were not under way, contradicting the White House as the war’s economic and humanitarian toll mounted.
Australians suffering because of Trump’s war, says Hastie
Given the conflict’s impact here, Andrew Hastie says voters should consider One Nation’s loyalty to the US president when considering a vote for Pauline Hanson.
Payday for Putin as Iran war delivers energy windfall
The Kremlin’s oil sales are expected to double this month as Russia profits from the price surge and sanctions waivers.
China has already won the Iran war
Donald Trump had better do a deal with Iran soon. If the Strait of Hormuz is closed for another month, it is game, set and match to the Russo-Chinese axis.
Labor backs above-inflation minimum wage rise; Frustration within government over fuel; Markets ignore energy shock
Read everything that’s happened in the news so far today.
Trump taps Zuckerberg, Andreessen and Huang for tech council
It’s the latest marker of the nexus between Silicon Valley and the Trump administration that will focus on AI policy and other science-related issues.
Robot joins Melania Trump at White House event to tout AI teachers
The humanoid robot, which introduced itself as “Figure 03”, joined the first lady to welcome first spouses from around the world to a technology summit.
