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Economy
$1bn loans in Labor measures for alt export markets
As part of its play to win the upcoming federal election, the Albanese government has pledged protective measures to help export-focused companies tap alternative markets beyond the United States. Included within these measures Labor is planning to offer $1 billion in zero interest loans through the National Reconstruction Fund. This new loan facility builds on the loans, equity and guarantees already available through the $15 billion fund. This new round of funding is expected to complement a separate government initiative to fund representative bodies of sectors directly in the wake of U.S. President Donald Trump’s tariff measures announced in his “liberation day” speech yesterday. In response to what Trump believes to be tantamount to ‘surrogate tariff measures’ from other countries, the U.S. has imposed a 10% tariff on Australia. Trump has justified this 10% tariff by arguing that Australia imposes the same impost on U.S. goods through various trade barriers. Instead of fighting tariffs with counter tariffs, the Albanese government will lobby the U.S. to remove them.Additional measuresMeanwhile, the Government has announced four additional measures designed to find new markets and offer some protection to aff
Truth be told: Trump Media moves to sell 142m shares Galan to prove lithium mettle after rejecting $240m bid Australian trade doomsayers prescribed a chill pill
Business
EV let your hair hang down: Electric cars' reality check
With the global appetite for electric vehicles (EVs) now waning, a timely review of the underlying demand for both these vehicles and the commodities used to make them is now warranted. Up until recently, any mineral critical to EV battery production was ascribed a premium due to its perceived importance. There has been an implied assumption that the world was veering towards non-fossil-fuelled vehicles at breakneck speed. However, the notable consumer shift away from EVs suggests these assumptions are no longer bankable.EV speed bumpWith cracks now surfacing in the global uptake of EVs, the jury’s also out on the capacity of the industry to consume the ever expanding supply of critical minerals being found to feed and support it. This had a material impact on commodity prices. The $64000 question now is whether government-led initiatives to prop up the EV sector - through subsidies, tax credits, and ambitious targets - and the billions car manufacturers have invested in electrifying their fleets have all been in vain. Recent announcements from major automakers, plus recent data and surveys in the U.S., Australia, and Europe, suggest EVs may no longer be the smartest purchase for consumers. It’s not just marke
Economy
EU in negotiations with US as it tables tariff response
French President Emmanuel Macron led a heated yet considered European Union reaction to United States-imposed tariffs, calling the 20% levy on the continent "brutal and unfounded". Macron ruminated that any French or European response to the tariffs would be more significant than previous retaliatory tariffs or countermeasures. He also called for a halt to investment in the U.S. "The US economy will become poorer and weaker," Macron said. Meanwhile, European Commission chief Ursula von der Leyen said President Donald Trump's announcement of universal tariffs on the whole world, including the EU, is a major blow to the world economy. “Let's be clear-eyed about the immense consequences… the global economy will massively suffer [and] uncertainty will spiral and trigger the rise of further protectionism,” von der Leyen said in a statement. “The consequences will be dire for millions of people around the globe.” Von der Leyen said on top of that, a new wave of EU reciprocal tariff measures were currently being put together in case current negotiations with the White House fell apart. “We're now preparing for further countermeasures to protect our interests and our businesses if negotiations fail." The EU is a
Markets
APAC markets descend further; tariffs rock sentiment
Asia-Pacific stocks extended losses on Friday, tracking the sharp declines on Wall Street after President Donald Trump’s sweeping tariffs unsettled global markets. By 11:35 am AEDT (12:35 am GMT), Australia’s S&P/ASX 200 dropped 1.3%, South Korea’s Kospi 200 fell 0.7%, and Japan’s Nikkei 225 slid 2%. Markets in Hong Kong and China are set to remain closed for the Qingming Festival. Meanwhile, South Korean political uncertainty loomed as the Constitutional Court prepared to rule on the removal of impeached President Yoon Suk Yeol later Friday. If ousted, a 60-day countdown would begin for a new presidential election. Trump's tariff announcement on Wednesday (Thursday AEDT) rattled investors, with Trump revealing reciprocal tariff rates for over 180 countries and territories, raising concerns over a potential global trade war. Overnight, U.S. markets saw their worst declines in five years. The Dow Jones Industrial Average tumbled 1,679.4 points or 4% to 40,545.9, the S&P 500 fell 4.8% to 5,396.5, re-entering correction territory, and the Nasdaq Composite dropped 6% to 16,550.6, marking its largest decline since March 2020. Commodities also faced heavy losses. Brent crude plummeted 6.4% to US$70.14 per barrel, wh
Wealth
Why is private credit booming in Australia?
Private credit is emerging as a popular asset for investors seeking stability, security and attractive returns, according to Capstone Funds director Frances MacDonald. Private credit, also known as private debt or private loaning is an alternative form of finance that is not publically traded and includes credit held by or extended to privately held companies taking the form of loans, bonds, notes or private securitisation issues. While Australia is lagging behind the U.S. and Europe, with private credit still in its infancy, representing only 10% of the total debt market, MacDonald argues this creates the perfect opportunity to get in on the ground floor. “Locally, we’re seeing a large funding gap, particularly for SMEs and property developers, where traditional banks have either stepped back or can’t meet borrowers’ need for speed and flexibility,” she tells Azzet. “It’s a structural shift, investors are now actively seeking private assets for yield, stability, and security underpinning the shift away from public markets.”Credit: Niche Marketing GroupRecently, at the InvestmentMarkets webinar, MacDonald said 40% of sophisticated investors said private credit is their top allocation priority. This is because privat

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Markets
Customers use ICE products at record levels in 2025
Global technology and data provider Intercontinental Exchange (ICE) has reported record average daily volumes (ADV) for March and the first quarter of the 2025 financial year (Q1 FY25). ICE said ADV rose 31% to 10.346 million derivatives contracts in March and 23% to 9.968 million contracts in Q1 FY25, compared with the previous corresponding periods in 2024. The company, which operates the New York Stock Exchange and other financial exchanges and clearinghouses, said the ADV increases were 20% to 5.486 million for its commodities (including energy) segment and 47% to 4.860 million for the financials segment. President Ben Jackson said traded volumes in the first quarter of 2025 were the highest in ICE’s history. “Twenty-five years ago, ICE began building a derivatives platform to serve customers’ evolving risk management needs, and today, we are the home to benchmarks such as Brent, TTF and Euribor, used by customers across the world to address their hedging needs,” he said in a statement. The Atlanta-based company, which was established in 2000, said open interest, a key metric showing contracts that have not been closed, settled or expired, rose 11% in March including a record 67.6 million lots on 25 March. Pr
World
Europe prepares for war without US support
Europe is preparing for a possible war against Russia, regardless of whether the United States is on their side or not. As the Russia threat increases and U.S. support becomes uncertain, many European countries are telling citizens to prepare survival kits in case of a major crisis. While members of the NATO alliance have guaranteed the U.S. support if they come under attack, U.S. President Donald Trump has made it clear that they can no longer take U.S. military support for granted. As Trump becomes increasingly sympathetic towards Russia, the EU must wean itself off U.S. support. Jakub Janda from the Centre for Security Policy in Prague told ABC that Europe's push to prepare was warranted. "European countries are scared by the scope of Russian preparations for all-out continental war with Europe in upcoming years," he told the ABC. "If there is a ceasefire in Ukraine, time will start running out as Russia will be preparing for its campaign against NATO on a full scale." Europe has also stepped up its defence spending. The NATO guideline for defence spending remained at 2% of GDP last year but Trump has urged NATO members to increase that to 5%. He claimed he would encourage Russia to attac
Technology
NASA continues to support private ISS astronaut missions
NASA is looking for ideas from private companies to organise two astronaut missions to the International Space Station (ISS) in 2026 and 2027. These missions will help private companies improve spaceflight technology and support human spaceflight. NASA’s goal is to give more people and organisations access to space, making it easier for commercial companies to develop their expertise in running space missions. Dana Weigel, the ISS program manager at NASA’s Johnson Space Center, said this is an exciting time for human spaceflight. “We are in an incredible time for human spaceflight, with more opportunities to access space and grow a thriving commercial economy in low Earth orbit,” said Weigel. “NASA remains committed to supporting this expansion by leveraging our decades of expertise to help industry gain the experience needed to train and manage crews, conduct research, and develop future destinations. Private astronaut missions are a key part of this effort, providing companies with hands-on opportunities to refine their capabilities and build partnerships that will shape the future of low Earth orbit.” These upcoming missions will be NASA’s fifth and sixth private astronaut trips to the ISS. Three earlier mi
World
Seoul braces for ruling on impeached President Yoon
South Korea has massively ramped up security ahead of a Constitutional Court ruling on the impeachment of President Yoon Suk Yeol. The ruling, due today at 11am local time (1pm AEDT), will determine whether Yoon is permanently removed from office or reinstated. Yoon was impeached after briefly instating martial law in December. “Whatever decision is made, we must calmly and coolly accept the result in accordance with the principles of the rule of law,” said acting president Han Duck-soo. More than 14,000 police officers have been mobilised in Seoul ahead of the verdict. Around 150 metres of the street in front of the Constitutional Court will be closed. Schools, museums, and subway stations near the court will be closed today. A no-fly zone of 1.85 kilometres has been imposed around the court, and Han has added further police protection for the court’s eight justices. Protests both against and in favour of Yoon have been ongoing in Seoul since Yoon’s martial law declaration. Yoon’s supporters forcibly entered and attacked a South Korean court in January after it ruled to extend his detention. To remove Yoon from office, six of the court’s eight justices would have to uphold the impeachment motion. If the court up
Travel
Thai Airways preps new business class, heals bankruptcy
Thai Airways is set to a unveil a new business class, as it recovers from bankruptcy and prepares to return to Thailand’s stock exchange. Its business class will incorporate privacy doors around its seats and a 24 inch in-flight entertainment screen. The airline filed for bankruptcy in 2020, and aims to complete its debt restructuring this year. “The new fleet will include business class, premium economy, and economy class. Additionally, we have 17 existing 777s and decided to retrofit 14 of them with updated interiors,” said Thai Airways CEO Chai Eamsiri. “The new business-class seats will feature privacy doors and a higher level of comfort. The exact seat design has already been chosen, and we will unveil it soon.” The airline’s upgraded business class will be added to 44 of its Boeing aircraft. These jets will no longer include a first class cabin; only three Thai Airlines Boeing 777s are expected to host a first class section. Business class seats aboard Thai Airways’ new Airbus A321neo planes, which will begin delivery in November, will also convert to fully flat beds. Designs for the airline’s new business class cabins will be revealed as part of Thai Airways’ 65th anniversary celebration in May, Eamsiri sa