In Short:
– 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.

A federal appeals court has blocked President Donald Trump’s attempt to remove Lisa Cook from the Federal Reserve board.

The decision comes just before a crucial meeting regarding potential interest rate changes.The court determined that the Trump administration did not meet the requirements for an appeal against a prior ruling that had already blocked Cook’s removal.

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.

In Short:
– 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?

In Short:
– 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.