Natural Disasters Deal $2.2 Billion Blow to Australian Economy so Far This Year
Australia's economy has already taken a $2.2 billion hit in 2025 from a spate of natural disasters, including Cyclone Alfred and widespread flooding across New South Wales (NSW) and Queensland, according to fresh estimates from Treasury.
The losses reflect immediate declines in economic activity, particularly across retail and household spending, and are expected to weigh heavily on the March quarter figures due for release on June 4.
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Breaking: Wall Street Rally After Trump-Xi 'Very Good' Call Eases Trade Fears
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Trump is increasingly hostile to China. He's playing with fire
Despite widespread concerns that the trade war is dragging down America's economy, President Donald Trump has notched quite a few wins on his economic belt in recent weeks. Inflation keeps falling. Jobs remain plentiful. And there's growing evidence the economy could be booming this quarter. That's why Trump's increasingly hostile rhetoric about China over the past week was particularly concerning ahead of his call Thursday with Chinese leader Xi Jinping. Trump's economy is cookin' – for now. But the economic Jenga tower the Trump administration has constructed is precariously balanced on a host of economic caveats and unproven theories. Renewed trade tensions with the world's second-largest economy threatens to knock the tower to the ground. May 12 represented a major turning point for the global trade war. Delegates from China and the United States announced they would significantly roll back their historically high tariffs on one another. Markets were elated. 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an hour ago
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Circle stock soars over 190% after IPO as stablecoin giant makes market debut
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