logo
Is US Beef About to Hit the Great Aussie Barbecue?

Is US Beef About to Hit the Great Aussie Barbecue?

Bloomberg2 days ago
Never miss an episode. Follow The Bloomberg Australia Podcast today.
Australia has just lifted its final bans on beef from the US, more than two decades after they were first imposed. The government says it's the natural end of a long evaluation process but others see it as a bid to win favor from the US and avoid the worst of Donald Trump's ongoing tariff war.
This week on the Bloomberg Australia Podcast, host Rebecca Jones speaks to agriculture reporter Ben Westcott about what really sparked the end to the beef ban, what more American meat in Australia means for local producers, and the outlook for the sector.
Read more:
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gemini files IPO bid amid crypto rally while bleeding $282m
Gemini files IPO bid amid crypto rally while bleeding $282m

Yahoo

time5 minutes ago

  • Yahoo

Gemini files IPO bid amid crypto rally while bleeding $282m

US-based Gemini crypto exchange is striking while the iron is hot, filing for an initial public offering in a raging crypto bull market even as it racks up heavy losses. The Winklevoss-led company lost $282 million in the first half of 2025, according to its IPO filing made public Friday. Gemini plans to list on Nasdaq under the ticker GEMI and said it may use the proceeds to repay debt. The firm reported $2.1 billion in liabilities as of June 30, including loans from Galaxy and NYDIG. Despite the mounting losses, Gemini is betting that favourable market conditions and renewed investor interest in crypto stocks will help it land a successful debut. The exchange generated just $68.6 million in revenue in the first six months of 2025, down from $74.3 million during the same period last year, while losses ballooned more than sixfold. One of us Gemini's filing comes on the heels of Bullish's blockbuster IPO, which raised $1.1 billion and saw shares surge 228% on the first day of trading, giving it a $10 billion valuation. The Peter Thiel-backed exchange became the second publicly traded crypto exchange in the US, after Coinbase. Gemini will be the third once it lists. Gemini's filing adds to a wave of digital asset firms tapping public markets as investor appetite in all things crypto rebounds. Stablecoin issuer Circle went public in June and quickly hit a $40 billion market cap, becoming the first publicly traded stablecoin firm in the US. It has since slipped to just over $37 billion. Galaxy Digital, led by Mike Novogratz, also joined the Nasdaq this year to gain deeper access to US capital markets. Galaxy shares dipped in the days following its IPO but have since rebounded, gaining around 12% since then. Crypto market movers Bitcoin has lost 1% in value over the past 24 hours and is trading at $117,710. Ethereum is down 4% in the same period to $4,460. What we're reading New York's top lawyer said Ethereum is a security. A crypto lawyer is coming for her job — DL News Citigroup considers custody and payment services for stablecoins, crypto ETFs — Reuters DeFi Tokens Surge — But These Hidden Gems Could Shine Next — Unchained Why Ethena's USDe got a 1,250% risk weighting in S&P Global's Sky credit rating — DL News Kyle Baird is DL News' Weekend Editor. Got a tip? Email at kbaird@ Sign in to access your portfolio

Murdoch Paper Warns Trump: You Just Got Hit With a Major ‘Political Problem'
Murdoch Paper Warns Trump: You Just Got Hit With a Major ‘Political Problem'

Yahoo

time15 minutes ago

  • Yahoo

Murdoch Paper Warns Trump: You Just Got Hit With a Major ‘Political Problem'

Rupert Murdoch's Wall Street Journal just slapped Donald Trump with a stark warning of a looming 'political problem' over who will wind up paying his tariffs. In an editorial published Thursday, the paper's editorial board said fresh inflation data showed costs climbing for U.S. producers, undermining the president's claim that other countries would be paying for his import levies. Consumer-price data released Tuesday from the Bureau of Labor Statistics showed that the Consumer Price Index rose just 0.2 percent in July and 2.7 percent from a year earlier, suggesting households had yet to feel broad tariff-related price hikes. But the Producer Price Index (PPI) released Thursday showed wholesale prices climbing faster than economists anticipated, indicating higher consumer prices were on their way. PPI jumped 0.9 percent in July, marking the sharpest monthly rise in more than three years. It also climbed 3.3 percent year-over-year. The Journal said many U.S. companies have so far shielded consumers by absorbing those costs. 'This hasn't shown up in consumer prices so far because many companies entered the Trump tariff era with large cash reserves or wider margins, so they can absorb these costs for the time being,' the board said, adding: 'But these companies can't do this forever.' It warned that money diverted to tariffs or tariff-driven price hikes 'isn't available for reinvestment in the business, or to return to shareholders.' That reality, the board argued, 'poses a political problem for Mr. Trump and Republicans.' 'The President promises voters that foreigners will pay for his tariff policies. These price data caution that the economy may have other ideas,' the board said. Americans could end up paying 'a big chunk of the tariff bill,' either directly through higher prices or indirectly via slower wage growth. 'With the consumer price index running at an annualized rate not seen in over four years and PPI for core goods—which would be most sensitive to tariffs—now down at a 0.7 percent annualized rate since January, the doom-and-gloom predictions of President Trump's tariffs ratcheting up inflation continue to be proven flat-out wrong," White House Spokesman Kush Desai told the Daily Beast in a statement. 'The Trump administration's policies swiftly put an end to Joe Biden's inflation crisis, and as trillions in investments pour into the United States, they're now laying the groundwork for a long-term economic resurgence for the American people,' he added. Trump bragged in a post-election interview with NBC News in December that he 'won on groceries,' pointing to soaring food costs during President Joe Biden's term as pivotal to his victory. But the Journal's warning suggests Americans could soon be eyeing rising grocery bills under Trump, too. Real average hourly earnings rose just 0.1 percent in July after no change in June, and over the past 12 months real average hourly earnings increased only 1.2 percent, the board noted, citing BLS data. The editorial board concluded that if voters see rising costs without matching wage gains, Republicans would be in 'the political danger zone.' 'Republicans will make the same mistake as the Biden Administration if they keep telling voters everything is fabulous but the evidence at the grocery store or Applebee's tells them something different,' it said. Solve the daily Crossword

Airbus Is About to Eclipse a Record That Boeing Held for Decades
Airbus Is About to Eclipse a Record That Boeing Held for Decades

Bloomberg

time37 minutes ago

  • Bloomberg

Airbus Is About to Eclipse a Record That Boeing Held for Decades

In 1981, the year Airbus SE announced it would build a new single-aisle jetliner to take on Boeing Co., the 737 ruled the roost. The US-made narrowbody, already in use for more than a decade, had reshaped the airline industry by making shorter routes cheaper and more profitable to operate. By 1988, when Airbus began producing its upstart A320, Boeing had built a formidable lead by delivering some 1,500 of its cigar-shaped best-seller.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store