ASX 200 lifts on Tuesday after Wall Street surges to new highs
'But then the selling began, investors banking their profits,' Mr Boyd said.
'Apart from the banks – energy stocks, industrials and retailers – they were all sold off. Health care companies and mining stocks jumped.'
The ASX 200 recovered and finished up 0.10 per cent on Tuesday.
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Unions call for stricter AI restrictions in workplaces
Employers must ensure job security and transparency when implementing artificial intelligence in the workplace, the peak union body says. The ACTU is calling for tougher regulations during the rollout of artificial intelligence in workplaces in order to protect jobs. At a federal economic reform roundtable next month, the ACTU will call for a new set of artificial implementation agreements that employers must provide to workers. It wants agreements to compel employers to consult their staff before new artificial technology is introduced into workplaces. "Artificial intelligence can bring benefits if it is brought in by workers who are well-trained and well-supported in the use of AI," ACTU Assistant Secretary Joseph Mitchell said on Tuesday. "This can't happen without the knowledge, experience, creativity and skills of workers being brought into the implementation process." The agreements should include job security guarantees, skills development and retraining, transparency over technology use, privacy and data collection protections. The agreements should also be backed by a national artificial intelligence authority and legislation to ensure that laws are keeping up with technological changes. "Working people will not embrace artificial intelligence if their key concerns, such as job security, are left unprotected," Mr Mitchell said. "If an employer does not have an Artificial Intelligence Implementation Agreement in place with their workers that company should not be eligible for government funding, such as research and development incentives or government contracts." The roundtable hosted by Treasurer Jim Chalmers will take place over three days in August. The focus will be on improving productivity, enhancing economic resilience and strengthening the nation's budget sustainability Business leaders, unions, government members and experts will all contribute to the roundtable. Opposition industrial relations spokesman Tim Wilson said the government would likely try to unionise workers instead of embracing technology in workplaces. "Their solution is to pretend that it doesn't exist, or to block it out," he told Sky News. "There's a simple reality: Artificial intelligence is here. It poses opportunities and challenges "The key thing is, are we going to lead through this challenge and be part of the solution?" Employers must ensure job security and transparency when implementing artificial intelligence in the workplace, the peak union body says. The ACTU is calling for tougher regulations during the rollout of artificial intelligence in workplaces in order to protect jobs. At a federal economic reform roundtable next month, the ACTU will call for a new set of artificial implementation agreements that employers must provide to workers. It wants agreements to compel employers to consult their staff before new artificial technology is introduced into workplaces. "Artificial intelligence can bring benefits if it is brought in by workers who are well-trained and well-supported in the use of AI," ACTU Assistant Secretary Joseph Mitchell said on Tuesday. "This can't happen without the knowledge, experience, creativity and skills of workers being brought into the implementation process." The agreements should include job security guarantees, skills development and retraining, transparency over technology use, privacy and data collection protections. The agreements should also be backed by a national artificial intelligence authority and legislation to ensure that laws are keeping up with technological changes. "Working people will not embrace artificial intelligence if their key concerns, such as job security, are left unprotected," Mr Mitchell said. "If an employer does not have an Artificial Intelligence Implementation Agreement in place with their workers that company should not be eligible for government funding, such as research and development incentives or government contracts." The roundtable hosted by Treasurer Jim Chalmers will take place over three days in August. The focus will be on improving productivity, enhancing economic resilience and strengthening the nation's budget sustainability Business leaders, unions, government members and experts will all contribute to the roundtable. Opposition industrial relations spokesman Tim Wilson said the government would likely try to unionise workers instead of embracing technology in workplaces. "Their solution is to pretend that it doesn't exist, or to block it out," he told Sky News. "There's a simple reality: Artificial intelligence is here. It poses opportunities and challenges "The key thing is, are we going to lead through this challenge and be part of the solution?" Employers must ensure job security and transparency when implementing artificial intelligence in the workplace, the peak union body says. The ACTU is calling for tougher regulations during the rollout of artificial intelligence in workplaces in order to protect jobs. At a federal economic reform roundtable next month, the ACTU will call for a new set of artificial implementation agreements that employers must provide to workers. It wants agreements to compel employers to consult their staff before new artificial technology is introduced into workplaces. "Artificial intelligence can bring benefits if it is brought in by workers who are well-trained and well-supported in the use of AI," ACTU Assistant Secretary Joseph Mitchell said on Tuesday. "This can't happen without the knowledge, experience, creativity and skills of workers being brought into the implementation process." The agreements should include job security guarantees, skills development and retraining, transparency over technology use, privacy and data collection protections. The agreements should also be backed by a national artificial intelligence authority and legislation to ensure that laws are keeping up with technological changes. "Working people will not embrace artificial intelligence if their key concerns, such as job security, are left unprotected," Mr Mitchell said. "If an employer does not have an Artificial Intelligence Implementation Agreement in place with their workers that company should not be eligible for government funding, such as research and development incentives or government contracts." The roundtable hosted by Treasurer Jim Chalmers will take place over three days in August. The focus will be on improving productivity, enhancing economic resilience and strengthening the nation's budget sustainability Business leaders, unions, government members and experts will all contribute to the roundtable. Opposition industrial relations spokesman Tim Wilson said the government would likely try to unionise workers instead of embracing technology in workplaces. "Their solution is to pretend that it doesn't exist, or to block it out," he told Sky News. "There's a simple reality: Artificial intelligence is here. It poses opportunities and challenges "The key thing is, are we going to lead through this challenge and be part of the solution?" Employers must ensure job security and transparency when implementing artificial intelligence in the workplace, the peak union body says. The ACTU is calling for tougher regulations during the rollout of artificial intelligence in workplaces in order to protect jobs. At a federal economic reform roundtable next month, the ACTU will call for a new set of artificial implementation agreements that employers must provide to workers. It wants agreements to compel employers to consult their staff before new artificial technology is introduced into workplaces. "Artificial intelligence can bring benefits if it is brought in by workers who are well-trained and well-supported in the use of AI," ACTU Assistant Secretary Joseph Mitchell said on Tuesday. "This can't happen without the knowledge, experience, creativity and skills of workers being brought into the implementation process." The agreements should include job security guarantees, skills development and retraining, transparency over technology use, privacy and data collection protections. The agreements should also be backed by a national artificial intelligence authority and legislation to ensure that laws are keeping up with technological changes. "Working people will not embrace artificial intelligence if their key concerns, such as job security, are left unprotected," Mr Mitchell said. "If an employer does not have an Artificial Intelligence Implementation Agreement in place with their workers that company should not be eligible for government funding, such as research and development incentives or government contracts." The roundtable hosted by Treasurer Jim Chalmers will take place over three days in August. The focus will be on improving productivity, enhancing economic resilience and strengthening the nation's budget sustainability Business leaders, unions, government members and experts will all contribute to the roundtable. Opposition industrial relations spokesman Tim Wilson said the government would likely try to unionise workers instead of embracing technology in workplaces. "Their solution is to pretend that it doesn't exist, or to block it out," he told Sky News. "There's a simple reality: Artificial intelligence is here. It poses opportunities and challenges "The key thing is, are we going to lead through this challenge and be part of the solution?"
Sky News AU
an hour ago
- Sky News AU
Aussie share market to ‘take a bit of a bump lower' at the open
CommSec's Tom Piotrowski claims the ASX 200 is going to 'take a bit of a bump lower' at the opening on Tuesday morning. 'The futures are pointing to a decline of a little under three quarters of a per cent, which is, I suppose, in line with the tone we've seen in Northern Hemisphere markets,' he told Sky News Australia. 'There has been an interest response to the latest trade progress which has been made.' Presented by CommSec.
Sky News AU
an hour ago
- Sky News AU
Donald Trump flags baseline tariff hike
Donald Trump has flagged the US could double the baseline tariff on foreign imports to 20 per cent. Australia is captured by the baseline tariff regime, with a blanket 10 per cent impost slapped on most products flowing to the US despite a bilateral free-trade agreement. The baseline tariff is imposed on top of sectoral duties – taxes targeting specific industries, such as steel and aluminium. The US President floated his new tariff for 'the rest of the world' while speaking to reporters with Keir Starmer in Scotland overnight. 'I would say it'll be somewhere in the 15 to 20 per cent range,' Mr Trump said when pressed for a figure. 'Probably one of those two numbers. 'We're going to be setting a tariff for, essentially, the rest of the world. 'That's what they're going to pay if they want to do business in the United States, because you can't sit down and make 200 deals.' The Albanese government has responded, with a spokesperson for Trade Minister Don Farrell saying Australia would continue push for an Australian carve out. 'Any tariffs on Australian goods are unjustified and an act of economic self-harm,' the spokesperson said. 'We will continue to engage at all levels to advocate for the removal of all tariffs, in line with our free trade agreement with the United States.' Assistant Treasurer Dan Mulino expanded a little, downplaying Mr Trump's comments as 'off-the-cuff'. 'We are a country that relies on trade,' he told Sky News. 'We are a country with a very high proportion of jobs that rely on trade. 'That remains the position of this government. 'So, we would rather a situation in which the world doesn't go down the path of imposing tariffs. 'But what I can say is that Australia remains in a situation where we've got as good a deal as anybody, and we continue to engage with the US Government intensely on these matters.' Australia's biggest export to the US is beef, which was worth $5.7bn in 2024, according to Meat and Livestock Australia. More to come. Originally published as '20 per cent': Donald Trump flags baseline tariff hike
