Opposition Coalition Reunites After Week of Political Chaos
Good morning, Australia! I've got some big news from the US overnight. On Friday, President Donald Trump asked Apple to make its iPhones in the United States, or face a 25% tariff. He also suggested a 50% tariff on goods from the European Union, because he says trade negotiations aren't going well.
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Business & Markets
➡️ RBA Cuts Interest Rates to 3.85% Amid Trump Tariff Concerns, Says Judo Bank Economist. The Reserve Bank of Australia cut interest rates by 25 basis points to 3.85% this week due to growing concerns about global trade disruptions from Trump administration tariffs, according to Judo Bank Chief Economist Warren Hogan.
➡️ G7 Finance Ministers Threaten Further Russia Sanctions if Ukraine Ceasefire Talks Fail. G7 finance ministers meeting in Canada have threatened to impose additional sanctions on Russia if Moscow fails to agree to a ceasefire in the ongoing Ukraine war, while also pledging that countries financing the conflict will be excluded from Ukraine's reconstruction efforts.
➡️ Port of Brisbane Accused of Failing to Consult First Nations Group Over $3.5B Moreton Bay Dredging Project. The Minjerribah Moorgumpin Elders in Council has accused the Port of Brisbane of failing to properly consult with Aboriginal groups before submitting a $3.5 billion proposal to dredge 96.5 million cubic metres from Moreton Bay for a shipping channel expansion, though the port maintains it followed federal consultation requirements through other Quandamooka representatives.
Politics & World Affairs
➡️ Harvard Loses Foreign Student Enrollment Rights as Trump Cites Campus Safety Concerns. The Trump administration has revoked Harvard University's authorization to enroll international students, forcing approximately 6,800 foreign students to transfer to other schools or leave the United States due to alleged campus safety issues and claims of coordination with Chinese Communist Party.
➡️ Iran-US Nuclear Talks Resume in Rome as Tehran Doubts Deal Prospects Over Enrichment Demands. Iran and the United States are beginning their fifth round of nuclear negotiations in Rome on Friday, but Iranian officials express growing skepticism about reaching an agreement as Washington demands complete dismantlement of Tehran's uranium enrichment program, which Iran considers a non-negotiable red line.
➡️ Trump Recommends 50% EU Tariff Starting June 1, 2025. President Trump announced a recommended 50% tariff on European Union goods starting June 1, 2025, citing failed trade negotiations and a $250 billion trade deficit, causing European stock markets to drop sharply.
AI & Technology
➡️ Anthropic Launches Claude 4: New AI Models Include "World's Best Coding Model" Claude Opus 4. Anthropic has launched Claude 4, featuring Claude Opus 4 (described as the world's best coding model) and Claude Sonnet 4, both offering advanced AI capabilities including extended thinking with tool use, parallel tool execution, and improved memory functions, while maintaining the same pricing structure as previous models.
➡️ Apple Plans 2026 Launch for First Smart Glasses with AI, Cameras, and Siri Integration. Apple is reportedly planning to launch its first smart glasses in 2026 featuring cameras, microphones, speakers, and Siri voice assistant capabilities, positioning the device to compete with Meta's successful Ray-Ban smart glasses while simultaneously canceling development of a camera-equipped smartwatch.
➡️ EU and US Authorities Dismantle Global Malware Network, Take Down 300+ Servers in Operation Endgame. European, American, and Canadian law enforcement agencies have dismantled a massive global malware network by taking down over 300 servers worldwide, issuing 20 international arrest warrants, and seizing €3.5 million in cryptocurrency as part of Operation Endgame, targeting cybercriminals who use "initial access malware" to infiltrate computer systems for ransomware attacks.
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