🚀Defence to Receive $50 Billion Boost Over Next Decade: Minister
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The S&P/ASX 200 (XJO) closed with a decrease of 6.9 points at 7,605.6, only 0.41% away from its session high and a mere 0.12% from its low. Looking at the positive side, in the wider S&P/ASX 300 (XKO), there were 173 advancers compared to 101 decliners.
The Utilities (XUJ) sector had a strong performance today, with a notable 2.8% increase. This could possibly be attributed to AGL Energy's (ASX: AGL) unexpected 6.4% surge. Origin Energy's (ASX: ORG) 2.5% increase can be attributed to the upward trend in LNG prices in Asia, which is a result of escalating tensions in the Middle East.
The Gold (XGD) sub-index performed strongly today, with a gain of 2.3%. It rebounded following two consecutive days of decline, possibly aided by a steady increase in the price of gold. [ Read more]
💡Evening’s Headlines
Extradition of WikiLeaks founder Julian Assange from the United Kingdom may now be possible thanks to assurances the US government gave to the London High Court, according to the AAP.
Senior Labour frontbencher Pat Conroy and shadow defence minister Andrew Hastie have sparred over the government's defence policy while wars rage abroad.
A minister is pleading with the public to turn off, and social media companies are facing the threat of legal action over explicit photos and videos that have been making the rounds following the recent stabbing attacks in Sydney.
🗳️ AUS POLITICS
Defence to Receive $50 Billion Boost Over Next Decade: Minister.
As part of a reorganisation of the Australian military, defence will receive an additional $50 billion over the next ten years, with plans to purchase F-35 fighter jets being shelved.
In a major speech on Wednesday, Defence Minister Richard Marles unveiled a $330 billion investment programme and a national defence strategy. He also disclosed that an additional $5.7 billion would be spent over the following four years.
He described the largest increase in military spending since 1949, including a rise in spending on ships and shipbuilding. [Read more]
📠 BUSINESS
ANZ will stop issuing cheque books to new and old accounts in June due to declining use.
In a significant banking overhaul that will likely impact thousands of people, ANZ will no longer provide check books to its clients. The changes will take effect in a few months. [ Read more ]
🖥️ Technology
Russian APT Deploys New 'Kapeka' Backdoor in Eastern European Attacks
Cyberattacks targeting Estonia and Ukraine have "sporadically" used Kapeka, a previously undocumented "flexible" backdoor, since mid-2022.
Finn cybersecurity firm WithSecure attributed the malware to Russia-linked APT group Sandworm (aka APT44 or Seashell Blizzard). Microsoft monitors KnuckleTouch malware. [Read more]
🌎 World Tonight
In a recent incident, China's military deployed fighter jets to monitor and caution a U.S. Navy patrol aircraft that had flown over the Taiwan Strait. This action occurred shortly after a conversation between the defence chiefs of China and the United States. [REUTERS]
As the region prepares for possible Israeli retaliation following Iran's attack over the weekend, the president of Iran has issued a warning, stating that the “tiniest invasion” by Israel would result in a “massive and harsh” response. [AP]
Two Austrian nationals are the subject of an Indian police complaint for allegedly demolishing a pro-Palestinian mural at a well-known southern tourist attraction. [ INDEPENDENT]
🏅 Fact Check
Is there a hidden cost of China’s Pacific play?
Solomon Islands host crucial elections watched from Beijing to Washington, but only China is putting its money where its mouth is in the region and it’s working
China's investment in the Pacific has redrawn the political map of the region.
Since 2008, the Chinese government has committed over USD$9 billion to infrastructure, development, education and commercial projects across Pacific Island countries, accounting for around 46 percent of total official loans provided in the region. [ Read more ]
📰 Good News, Inspiring, Positive Stories
CDU PhD Students Share Knowledge and Personal Journey in STEM with High School Mentees.
A new generation of thinkers and innovators will get a taste of what it’s like to study Science, Technology, Engineering and Mathematics (STEM) alongside real academics in the second year of a Charles Darwin University (CDU) mentoring program.
This week students from Casuarina Senior College toured the University’s Casuarina campus science and technology facilities for the beginning of CDU and Inspired NT’s Stage 2 Real Science Program.
Post-graduate students will act as mentors to students from Casuarina Senior College and Darwin High School for the next seven months, guiding them through STEM-related projects from planning, execution to presenting.
High school students will experience what it’s like to study at university, learn about the tertiary pathways open to them, and develop confidence in themselves and their abilities. Post-graduate students can practice leadership and supervision skills, time management, empathy and flexibility through mentoring. [Read more]