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Good morning,

The Reserve Bank has warned that Australia faces the prospect of slower growth alongside higher inflation in the global trade conflict, as the Trump administration prepares to fire off its next round of tariffs. 

Meanwhile, the Coalition’s proposal to deliver gas from Queensland into Victoria for less than $10 a gigajoule is not sustainable in the long term due to pipeline constraints and the difficulty of redirecting LNG spot cargoes, new analysis shows.

And investment bank Goldman Sachs believes Rio Tinto ditching its dual-listed structure may cost the miner billions of dollars more than previously estimated and reduce its ability to pay fully franked dividends to Australian shareholders. 

Vesna Poljak
Business editor
The markets


Making news this morning
1
Blame green dream for the cost-of-living crisis, says Beach chief
Beach Energy chief executive Brett Woods says the pursuit of curbing emissions has led to Australia’s elevated cost of living.
2
Sydney property developer rattles can for disputed Fortis project
Pallas Group is seeking financial backing for its latest property project, even though it’s opposed by the City of Sydney.
3
Coalition’s homebuyer pledge is no game changer, say analysts
Financial analysts say the Coalition’s plan to ask regulators to relax the ceiling on borrowers risks increasing house prices while creating only a small benefit.
Editor's picks
MARGIN CALL
Whitehaven director’s online hero worship of Trump and Musk
Whitehaven Coal director Raymond Zage’s online adoration of all things Trumpian and Musk must be grating at HQ, particularly for chair and former Australian trade minister Mark Vaile.
By YONI BASHAN, NICK EVANS
Commentary
Where’s my RBA rate cut? Blame Trump’s tariffs
By ERIC JOHNSTON
Associate Editor
Australia’s central bank is trying to war game how tariffs will impact inflation and global growth. The real answer is it doesn’t know.
DataRoom
Investment bankers watch on in NZME fight as battle escalates
Some think shareholders wanting to overthrow the board of the NZ Herald publisher may buy more shares to win, but others think they don’t need to.
Private equity in decline as deals don’t stack up
Three of the world’s major private equity firms which invest in Australia have lost close to $US61.3bn from their sharemarket values this year.
NZ govt taps JPMorgan, Craigs for Kiwibank deal
The New Zealand government wants to prepare its lender for a potential stock exchange float in the future.

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