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Albanese set to announce Australia’s 2035 emissions target
Albanese to unveil Australia’s 2035 emissions reduction target following PNG trip and cabinet approvals on Thursday
Albanese to unveil Australia’s 2035 emissions reduction target following PNG trip and cabinet approvals on Thursday
– Prime Minister Albanese to announce Australia’s 2035 emissions target, aiming for 60-75% reduction from 2005 levels.
– States have set targets of 70-80%, while reactions from the Coalition reflect resistance to net zero commitments.
Australia currently risks missing its 43 per cent 2030 target, before aiming for net zero emissions by 2050, as committed under the Paris Agreement.
Energy Minister Chris Bowen stated the target will be “ambitious and achievable,” balanced by Treasury modelling.
State Targets
States like New South Wales and Queensland have set legislative targets of 70 and 75 per cent, respectively.
Meanwhile, Victoria’s target ranges from 75 to 80 per cent. Internationally, New Zealand targets a reduction of 51 to 55 per cent, and Canada aims for 45 to 50 per cent.
Reactions from the Coalition are anticipated, especially following resistance from members such as Andrew Hastie, who has threatened to dissent against the net zero agenda.
Barnaby Joyce has proposed a bill to repeal the 2050 commitment, while Sussan Ley awaits the outcome of a policy review, questioning the costs associated with meeting these targets.
News
Big Tech earnings spark investor unease over AI spending
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.
Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.
Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.
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Federal Reserve holds interest rates amid economic uncertainty
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.
The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.
Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.
Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.
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#FederalReserve #InterestRates #Economy
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Trump warns Iran as U.S. naval forces approach amid rising tensions
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.
U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.
Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.
The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.
#Trump #Iran #USForeignPolicy
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