Latest news with #RichHenderson
Bloomberg
15-04-2025
- Business
- Bloomberg
Australia's Tallest Skyscraper Plans Falter
Howdy, Rich Henderson in Bloomberg's Melbourne bureau. Here's the latest: Today's must-reads: • Australia's tallest tower plans falter • Super funds indirect exposure to tariff war • Australia's RBA says May is 'opportune' to revisit policy In 2020, a Melbourne-based developer, Beulah, proposed a A$2.7 billion project to build Australia's tallest skyscraper, but five years on, the project still doesn't have a builder due to soaring construction costs. Australia's pension funds control a combined A$4.2 trillion, a lot of which is held in offshore assets with direct and indirect exposure to Trump's tariff war. This week on the podcast, host Chris Bourke and ASFA CEO Mary Delahunty unpack the major parties' election platforms relating to retirement savings.
Bloomberg
08-04-2025
- Business
- Bloomberg
Trump's Tariffs Set to Take Effect: Australia Briefing
Hi folks, Rich Henderson here from Bloomberg's Melbourne bureau. Hold on to your hats, it's tariff day. First up... Today's must-reads: • Trump increases top China tariff to 104% • Albanese beats Dutton in election debate • Consumer confidence tanks on tariff turmoil Donald Trump increased the top tariff rate on some Chinese goods to 104% prior to the levies taking effect midnight Tuesday in Washington — 2pm Wednesday in Canberra. The US administration has lined up negotiations with trading partners but the higher rate on China reignited fear across financial markets and dimmed optimism that a trade war would be avoided.
Bloomberg
18-03-2025
- Business
- Bloomberg
Chalmers Hits Back at US Over Tariffs
Morning folks, Rich Henderson from Bloomberg's Melbourne bureau here with the latest headlines... Today's must-reads: • Treasurer chides US over tariffs • NAB fights for market share in business lending • Active Super fined A$10.5 million for greenwashing Australian Treasurer Jim Chalmers hit back at the country's treatment by the US over tariffs on steel and aluminum. 'We deserve better as a long-term partner and ally,' Chalmers told the Australian Broadcasting Corp. on Tuesday. 'These sorts of tariffs are self-defeating, they're self-sabotaging, they're a recipe for less growth and higher inflation.' Meanwhile, Former US Ambassador to Australia Jeffrey Bleich says President Trump's leadership style presents a challenge to America's traditional allies. Trump takes "everything to an ultimate" as part of his negotiating strategy, says Bleich in an interview with Bloomberg TV's Haidi Stroud-Watts and Paul Allen, which can be "unsettling" for other governments. Canada has selected an Australian-developed radar system to detect incoming missiles as part of a push to beef up its military presence in the Artic. The move comes after heightened friction between Canada and the US that has raised questions about the future of a defense partnership between the bordering countries that stretches back to the 1950s. National Australia Bank is facing its biggest threat in years as Commonwealth Bank and Westpac push into small business lending, traditionally its strong suit. NAB CEO Andrew Irvine forecast heightened competition as 'there is more growth to be had,' than other banking sectors, he said at the Australian Financial Review Banking Summit.
Bloomberg
11-03-2025
- Business
- Bloomberg
Trump Rules out Tariff Exemption
Good morning, Rich Henderson here in Bloomberg's Melbourne bureau with the latest news headlines. Today's must-reads: • US tariffs on Australian steel and aluminum to hit • Rio Tinto offers $9 billion in bonds after Arcadium deal • Ukraine agrees to US proposal for 30-day truce with Russia US tariffs on Australian steel and aluminum will take effect later Wednesday in the US after the White House ruled out an exemption. The move follows efforts by Anthony Albanese's government to secure the exemption, which included meetings this week between Kevin Rudd, Australia's Ambassador to the US, and the Trump administration.
