It’s Monday the 16th of June and PM Anthony Albanese is due to meet US President Donald Trump on Wednesday morning, Australian time, on the sidelines of the G7 summit. Albanese says he wants to reason with Trump over tariffs on Australia and shore up the case for the AUKUS pact.
Abu Dhabi’s massive state-owned oil company has had preliminary talks with Santos about taking a stake in the ASX-listed business, according to reports this morning in the AFR.
US tech giant Amazon will invest $20 billion in Australia over five years to expand its data centre network, cloud infrastructure and energy generations.
The national housing auction market has bounced back, with the major cities of Melbourne and Sydney leading the way, while previous hotspots – Brisbane and Adelaide – are faltering somewhat.
Australians are travelling more, and overseas tourists are visiting in greater numbers, and tourism is now back to around pre-COVID levels.
Hundreds of thousands of people took to the streets of US cities and towns over the weekend in a wave of protests against the Trump administration as the US President staged a controversial military parade in Washington.
Fear-o-meter
PM Anthony Albanese says he wants to reason with Donald Trump. Really? How about at least using the term “negotiate”. That’s the language the US President understands.
The two leaders will meet on the sideline of the G7 summit in Canada this week, amid an escalation of tensions in the Middle East, an ongoing war in Europe, and fears about China’s goals in the Pacific.
Albanese is expected to tell Trump that Australia is already pulling our weight on defence, including higher spending on arms and equipment, and money for bases for US submarines, warships and Marines.
You never know with Donald Trump. That logic might work, or it might be laughed off. At least they are holding a meeting.
Who's talking today?
On the soaring price of gold and oil, and the potential for greater volatility in oil prices because of the Middle East crisis:
"A direct attack on Iran, one which Iran sees as a threat to the Iran kingdom and the state and what it can do, it opens up the door to a lot more supply disruption in the region. And what everyone is worried about is particularly the key waterways that Iran controls.
So it exports say 1.5 to 2% of global supply, but the Strait of Hormuz, which is a very narrow waterway that controls about nearly 19% of global oil supply. So because of that control of that key Strait, that is a risk that opens up that everyone is now thinking, is this something we should be pricing in? And that's where the volatility in oil can be quite severe."
Tourism was back to pre-COVID levels in April. Australians are travelling more, and more tourists are visiting Australia. Here's where they're coming from, and where we're heading to.
Source country
# of trips
New Zealand
123,950
China
73,770
United Kingdom
55,990
Destination country
# of trips
Indonesia
139,910
New Zealand
131,360
Japan
107,130
Source: ABS
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