SBS News in Easy English 30 May 2025
Listen to Australian and world news, and follow trending topics with SBS News Podcasts . The makeup of the Senate for the next federal parliament has been finalised. The Labor Party will have 28 senators in the 76-seat upper house. The Liberal Party-National Party coalition will have 27. One Nation will have four. And independents and other minor parties will have the remaining six. The makeup has been finalised with the count finally having been finished in New South Wales, where One Nation's Warwick Stanley has picked up the last of the six seats up for grabs. His win giving One Nation its fourth Senate seat- their equal-best-ever result in the Senate at a federal election. The federal opposition's newly-installed Foreign Affairs spokeswoman, Michaelia Cash, is urging Prime Minister Anthony Albanese to take up any invitation to visit Israel. Israeli President Isaac Herzog has requested a visit after Mr Albanese sharpened his criticism of Israel this week for its obstruction of humanitarian aid access in Gaza. Ms Cash has urged the Prime Minister to visit as soon as reasonably possible, in order to try and reset the relationship between the countries. She is due to meet Israel's Ambassador to Australia, Amir Maimon, within the next week. It comes ahead of a major summit on Palestinian statehood in New York next month, for which Australia has not yet confirmed a representative. U-S President Donald Trump's tariffs are being blamed for a drop in Australian retail spending. The Australian Bureau of Statistics has released the retail trade figures for April, showing a 0.1 per cent fall in turnover. There was a 0.3 per cent rise the previous month. Only Queensland and Western Australia had increases in retail turnover in April. On an annual basis, sales have risen 3.8 per cent in the twelve months to the end of April, as opposed to 4.3 per cent in the twelve months to the end of March. Mr Trump's announcement of U-S tariffs on the 2nd of April shook consumer confidence, and took billions of dollars off superannuation balances after financial markets were rattled. Surveys from Westpac and A-N-Z Bank showed a marked decrease in consumer metrics after Mr Trump's announcement. A 24-year-old woman has been charged after four people were injured in a stabbing in the Gippsland region of Victoria. Police in Bairnsdale, a town 279 kilometres east of Melbourne, allege the woman first stabbed a staff member at a supermarket, then a man in a car park, a man at a nearby hotel and a man at a train station. She has been charged with intentionally and recklessly causing injury. All four victims were taken to hospital; the first in a serious condition, and the others treated for minor injuries and released. Investigator Mark Rossiter of Victoria Police says the motivation for the attack is still unclear. Australian Alex de Minaur has joined calls for the men's tennis tour to be shortened after his elimination in the second round of the French Open. De Minaur has fallen from a 2-0 ((two sets to love)) lead to to lose 2-6, 2-6, 6-4, 6-3, 6-2 to Alexander Bublik of Kazakhstan. The number nine seed says while it is not an excuse for his defeat here, many players are exhausted from the frenetic pace of the tour, and careers will be shortened as a result if something is not done.
Earlier in the week, another of the world's best men's players, Casper Ruud of Norway, likened the men's rankings system to a rat race, saying that it made players feel obliged to play in events, even when injured.
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Tesla's shares rose 9.5 per cent after it deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas. Meanwhile, oil prices dipped more than 1.0 per cent to $US76.2 per barrel, having touched a six-month high earlier, as oil and gas transit continued on tankers from the Middle East after US air strikes against Iran over the weekend. Iran has repeatedly threatened to retaliate against the US attacks but is yet to do so in a meaningful way. Equity markets have been pressured in recent days as the Israel-Iran attacks raised concerns about a wider conflict in the Middle East, disrupting oil prices and raising concerns about a resurgence in inflationary pressures. The benchmark S&P 500 index remains about 2.3 per cent below its record level. "I think the market is certainly in a holding pattern, waiting to see the level of Iran's response to the US weekend attacks," said Ross Mayfield, investment strategist at Baird. "There's a sense that investors are conditioned not to think that geopolitical conflicts in the Middle East will have a long-term impact on the market." US business activity slowed marginally in June while prices increased further amid US President Donald Trump's tariffs, indicating that inflation might rise in the second half of 2025. However, Federal Reserve vice chair for supervision Michelle Bowman, recently tapped by Trump as the central bank's top bank overseer, said the time to cut interest rates could be fast approaching and that she is growing more worried about risks to the job market, and less concerned tariffs will cause an inflation problem. In early trading on Monday, the Dow Jones Industrial Average rose 95.63 points, or 0.23 per cent, to 42,302.45, the S&P 500 gained 28.89 points, or 0.48 per cent, to 5,996.73, and the Nasdaq Composite gained 109.12 points, or 0.56 per cent, to 19,556.61. The focus will be on US core PCE data and final GDP reading this week, as well as Fed chair Jerome Powell's two-day semiannual testimony before Congress. The US central bank held interest rates steady in its June monetary policy meeting but flagged inflationary risks due to higher trade duties. In earnings, investors awaited fourth-quarter results from sportswear company Nike and parcel delivery firm FedEx, both expected later in the week. Among other movers, drug maker Eli Lilly rose 1.3 per cent. Its rival Novo Nordisk fell 5.4 per cent after detailed trial data on its experimental obesity drug CagriSema failed to impress investors. Fiserv's shares rose nearly 2.0 per cent after the fintech firm announced plans to launch a new digital asset platform. Northern Trust surged 8.6 per cent after a Wall Street Journal report said Bank of New York Mellon approached the asset and wealth manager for a potential merger. On the flip side, AI-server-maker Super Micro Computer dropped 4.6 per cent after it announced a private offering of $US2 billion ($A3.1 billion) five-year convertible bonds. Advancing issues outnumbered decliners by a 1.98-to-1 ratio on the NYSE and by a 1.32-to-1 ratio on the Nasdaq. The S&P 500 posted seven new 52-week highs and three new lows, while the Nasdaq Composite recorded 52 new highs and 71 new lows. US stock indexes have rallied as investors looked past worries of potential crude supply disruptions after the United States' strikes on nuclear facilities in Iran while Tesla surged after the EV-maker launched robotaxis. Tesla's shares rose 9.5 per cent after it deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas. Meanwhile, oil prices dipped more than 1.0 per cent to $US76.2 per barrel, having touched a six-month high earlier, as oil and gas transit continued on tankers from the Middle East after US air strikes against Iran over the weekend. Iran has repeatedly threatened to retaliate against the US attacks but is yet to do so in a meaningful way. Equity markets have been pressured in recent days as the Israel-Iran attacks raised concerns about a wider conflict in the Middle East, disrupting oil prices and raising concerns about a resurgence in inflationary pressures. The benchmark S&P 500 index remains about 2.3 per cent below its record level. "I think the market is certainly in a holding pattern, waiting to see the level of Iran's response to the US weekend attacks," said Ross Mayfield, investment strategist at Baird. "There's a sense that investors are conditioned not to think that geopolitical conflicts in the Middle East will have a long-term impact on the market." US business activity slowed marginally in June while prices increased further amid US President Donald Trump's tariffs, indicating that inflation might rise in the second half of 2025. However, Federal Reserve vice chair for supervision Michelle Bowman, recently tapped by Trump as the central bank's top bank overseer, said the time to cut interest rates could be fast approaching and that she is growing more worried about risks to the job market, and less concerned tariffs will cause an inflation problem. In early trading on Monday, the Dow Jones Industrial Average rose 95.63 points, or 0.23 per cent, to 42,302.45, the S&P 500 gained 28.89 points, or 0.48 per cent, to 5,996.73, and the Nasdaq Composite gained 109.12 points, or 0.56 per cent, to 19,556.61. The focus will be on US core PCE data and final GDP reading this week, as well as Fed chair Jerome Powell's two-day semiannual testimony before Congress. The US central bank held interest rates steady in its June monetary policy meeting but flagged inflationary risks due to higher trade duties. In earnings, investors awaited fourth-quarter results from sportswear company Nike and parcel delivery firm FedEx, both expected later in the week. Among other movers, drug maker Eli Lilly rose 1.3 per cent. Its rival Novo Nordisk fell 5.4 per cent after detailed trial data on its experimental obesity drug CagriSema failed to impress investors. Fiserv's shares rose nearly 2.0 per cent after the fintech firm announced plans to launch a new digital asset platform. Northern Trust surged 8.6 per cent after a Wall Street Journal report said Bank of New York Mellon approached the asset and wealth manager for a potential merger. On the flip side, AI-server-maker Super Micro Computer dropped 4.6 per cent after it announced a private offering of $US2 billion ($A3.1 billion) five-year convertible bonds. Advancing issues outnumbered decliners by a 1.98-to-1 ratio on the NYSE and by a 1.32-to-1 ratio on the Nasdaq. The S&P 500 posted seven new 52-week highs and three new lows, while the Nasdaq Composite recorded 52 new highs and 71 new lows. US stock indexes have rallied as investors looked past worries of potential crude supply disruptions after the United States' strikes on nuclear facilities in Iran while Tesla surged after the EV-maker launched robotaxis. Tesla's shares rose 9.5 per cent after it deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas. Meanwhile, oil prices dipped more than 1.0 per cent to $US76.2 per barrel, having touched a six-month high earlier, as oil and gas transit continued on tankers from the Middle East after US air strikes against Iran over the weekend. Iran has repeatedly threatened to retaliate against the US attacks but is yet to do so in a meaningful way. Equity markets have been pressured in recent days as the Israel-Iran attacks raised concerns about a wider conflict in the Middle East, disrupting oil prices and raising concerns about a resurgence in inflationary pressures. The benchmark S&P 500 index remains about 2.3 per cent below its record level. "I think the market is certainly in a holding pattern, waiting to see the level of Iran's response to the US weekend attacks," said Ross Mayfield, investment strategist at Baird. "There's a sense that investors are conditioned not to think that geopolitical conflicts in the Middle East will have a long-term impact on the market." US business activity slowed marginally in June while prices increased further amid US President Donald Trump's tariffs, indicating that inflation might rise in the second half of 2025. However, Federal Reserve vice chair for supervision Michelle Bowman, recently tapped by Trump as the central bank's top bank overseer, said the time to cut interest rates could be fast approaching and that she is growing more worried about risks to the job market, and less concerned tariffs will cause an inflation problem. In early trading on Monday, the Dow Jones Industrial Average rose 95.63 points, or 0.23 per cent, to 42,302.45, the S&P 500 gained 28.89 points, or 0.48 per cent, to 5,996.73, and the Nasdaq Composite gained 109.12 points, or 0.56 per cent, to 19,556.61. The focus will be on US core PCE data and final GDP reading this week, as well as Fed chair Jerome Powell's two-day semiannual testimony before Congress. The US central bank held interest rates steady in its June monetary policy meeting but flagged inflationary risks due to higher trade duties. In earnings, investors awaited fourth-quarter results from sportswear company Nike and parcel delivery firm FedEx, both expected later in the week. Among other movers, drug maker Eli Lilly rose 1.3 per cent. Its rival Novo Nordisk fell 5.4 per cent after detailed trial data on its experimental obesity drug CagriSema failed to impress investors. Fiserv's shares rose nearly 2.0 per cent after the fintech firm announced plans to launch a new digital asset platform. Northern Trust surged 8.6 per cent after a Wall Street Journal report said Bank of New York Mellon approached the asset and wealth manager for a potential merger. On the flip side, AI-server-maker Super Micro Computer dropped 4.6 per cent after it announced a private offering of $US2 billion ($A3.1 billion) five-year convertible bonds. Advancing issues outnumbered decliners by a 1.98-to-1 ratio on the NYSE and by a 1.32-to-1 ratio on the Nasdaq. The S&P 500 posted seven new 52-week highs and three new lows, while the Nasdaq Composite recorded 52 new highs and 71 new lows.
