News
‘No ceasefire in sight’ – UN Chief’s warning after Putin call
U.N. Chief, António Guterres, says the Ukraine war is “far away” after speaking on the phone with Russia’s Vladimir Putin
Guterres believes a peaceful end to the war is not likely anytime soon, following his conversation with Putin.
“A ceasefire is not in sight, I would be lying if I said it would happen.”
António Guterres – Secretary-General of the United Nations
German Chancellor Olaf Sholz also spoke with the Russian leader and believes his “attitude hasn’t changed.”
“Unfortunately, I can’t tell you that he has now come to realise that it was a mistake to start this war, and there is no indication that new attitudes are now emerging…
It is still right to talk to each other and to say what I have to say on these issues from my point of view, because I am strongly convinced that Russia must withdraw … so that peace has a chance in the region, and every day it becomes clearer that this is the only chance. We have to talk about that, and that is what I have done.”
Olaf scholz – German chancellor
Future of the war
Over recent days, Ukraine’s counter-offensive efforts have proven successful, and have instilled hope back to Ukrainians.
Ukraine’s Volodymyr Zelensky has thanked his military, during a visit to newly liberated towns.
His speech was followed by a moment’s silence to remember those lost in the war.
Ukrainian forces are now turning their attention to the Luhansk region in the east, which is home to essential transport hubs.
In Russia, China’s leader, Xi Jinping has arrived in Samarkand, Uzbekistan. Here, he will meet with Putin, in what will be the first face-to-face meeting since the Ukraine war began.
The question remains, will China lend support?
News
Appeals court halts Trump’s attempt to fire Cook
Appeals court blocks Trump’s attempt to remove Lisa Cook from Federal Reserve ahead of crucial interest rate meeting
Appeals court blocks Trump’s attempt to remove Lisa Cook from Federal Reserve ahead of crucial interest rate meeting
– A federal appeals court has blocked Trump’s attempt to remove Lisa Cook from the Federal Reserve board.
– Trump’s expected Supreme Court appeal raises concerns about the Federal Reserve’s independence and market stability.
Cook has faced allegations of mortgage fraud, which she denies. Her lawyers assert she has not committed any wrongdoing, and documentation reviewed by NBC News supports her position.
Trump is expected to appeal this ruling to the Supreme Court.
The legal context for Cook’s position at the Federal Reserve highlights that removal can only occur “for cause,” under the Federal Reserve Act. Analysts warn that firing Cook may destabilise the Federal Reserve, which is critical for market stability.
Legal Context
The Supreme Court has previously distinguished the Federal Reserve from other federal agencies, underlining its unique structure.
Concerns have escalated regarding the implications of Trump’s actions on the independence of the Federal Reserve and broader economic stability.
News
Chinese auto brands dominate, taking one in five Aussie sales
Chinese car brands surge in Australia, capturing 20% market share with diverse offerings and aiming for expansion despite challenges
Chinese car brands continue to rise in Australia, capturing 20% market share with a diverse range of EV offerings.
– Over 20 Chinese car brands, including BYD and MG, are now available in Australia, with four in the top ten.
– Traditional automakers are adapting to increased competition and concerns about the quality of new Chinese entrants.
Australia is witnessing a significant increase in the presence of Chinese car brands, with over 20 names currently available, including BYD, GWM, and MG. In August, four Chinese brands ranked in the top ten for the first time, indicating a growing market share.
Australia’s low trade barriers facilitate the entry of these brands, which view the market as an opportunity for growth and learning. Most electric vehicles sold outside of Tesla are Chinese, showcasing their dominance even in models from other manufacturers.
Industry analyst Mike Costello from Cox Automotive joins to discuss the latest developments in the EV space, and answers the big question: who was the dominate force at this year’s Munich Motor Show?
Money
RBA plans to ban credit card surcharges in Australia
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.
The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.
The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.
A final decision by the RBA is anticipated by December 2025.
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