Morning!

Billi put a calendar invite in my diary reminding me I wasn't allowed to forget the hump day riddle, so here it is: Spelled forwards I’m what you do every day, spelled backwards I’m something you hate. What am I? The answer is in the tidbit!

While you're busy figuring out the answer, have a squiz at the poll results we received yesterday on vaping.

• 75% of respondents have vaped, 25% have never vaped

• 47% of respondents said they wished they vaped less

• 35% of respondents said they don't use vaping as an alternative to smoking, 30.5% said they do and 34.1% don't vape

• 75% of respondents said they support a government trying to make it harder to buy a vape, 18% don't and 7% don't know

• 42% of respondents wouldn't buy a flavourless vape, 12.3% would and the remainder don't know or don't vape

If you want to learn more, we did a full podcast episode on the topic today! You can listen here.

I've got 10 seconds

The quote
"It is all very well to say we want to see people’s circumstances change and want to be able to get people into work, but there are people in my own community whose levels of poverty are such that they simply are unable to seek work" - Liberal MP Bridget Archer arguing in favour of an increase to the JobSeeker rate.

The stat
$50,000
The bonus incentive now being offered to Australian Defence Force members if they commit to stay for three additional years beyond their initial period of service.

Today in history
1979: Margaret Thatcher is elected British Prime Minister.

I've got 30 seconds

Some headlines from this morning:

• Peter Dutton has said the Opposition would support "sensible measures" to prevent harmful vape use in Australia. It comes on the same day that Health Minister Mark Butler unveiled a fresh crackdown on vapes, which included restricting the sale of different flavours, colours, and high nicotine volumes in e-cigarettes. The Government also announced plans to stop non-prescription vapes from being imported into Australia.

• Vanessa Hudson will succeed Alan Joyce as the new CEO and Managing Director of Qantas following his retirement at the end of the year. Hudson has worked for Qantas since 1994, and has served as the airline's Chief Financial Officer since 2019. She will be the first female CEO of the airline.

I've got 1 minute

The Reserve Bank of Australia has raised the cash rate from 3.6% to 3.85%.

It's the 11th rate rise in a year, coming after a pause in April.

RBA Governor Philip Lowe says inflation has "passed its peak [but] is still too high and it will be some time yet" before it is back down to desirable levels.

The result came as a surprise to markets and economists who mostly expected another pause.

The context:
The RBA began to increase its cash rate in May of last year. The cash rate is what the RBA charges commercial banks for short-term loans and it flows through to other interest rates across the economy (so this is often referred to as 'increasing interest rates').

The RBA is doing this to combat inflation (rising prices). Prices grew 7% from March 2022 to March 2023, a slightly lower result than in previous months but well above the RBA's desired inflation rate of 2-3%.

The rise so far:
In a year, the rate has increased from a low of 0.1% to 3.85%.

Where to next?
Lowe says he is particularly concerned about high prices for services and the RBA Board is "alert" to the risks of further price rises.

He warned further interest rates "may" be required, "but that will depend upon how the economy and inflation evolve... The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that."

I've got 2 minutes

Editorial note: The Daily Aus has engaged in commercial partnerships with Future Super.

A superannuation company has been fined for greenwashing by the Australian Securities and Investments Commission (ASIC).

Future Super, which was established almost 10 years ago and invests in renewable energy, was found to have overstated its positive environmental impact in a Facebook post published in 2019. The company reported the post to the regulator and it was taken down in October 2022.

Future Super has paid an infringement notice worth over $13,000.

What is greenwashing?
Greenwashing is when a business misrepresents how environmentally friendly, sustainable or ethical their product or strategy is.

This can mislead an investor or customer or distort the information they use to make an informed decision about the business.

ASIC has issued greenwashing infringement notices to four other Australian businesses since October last year. They've also commenced Federal Court proceedings against another business for greenwashing.

The Facebook post:
The greenwashing claim relates to a Facebook post regarding Future Super's work to redirect the super funds under their management out of fossil fuel investments.

The post included the phrase: "Naysayers don't join together and move nearly $400 million out of fossil fuels."

In their analysis of the post, ASIC argued Future Super had "no basis" to claim the entire sum of money under their care was previously invested in fossil fuels at other super funds, before being diverted to their fund.

Future Super's response:
Future Super said its Facebook post was "missing an important caveat". The company self-reported the incident to ASIC, and paid the infringement notice last month.

The post was meant to display that $400 million had been diverted from funds exposed to fossil fuel investment, instead of implying they had been taken directly from fossil fuel investments. It had been seen by less than 28 Facebook users before being taken down.

Give me some good news

The first tree was planted at a decommissioned lake turned into a nature reserve in a regional town in far western NSW.

The planting is part of a carbon offset program in the Imperial Lakes Nature Reserve in Broken Hill, and could be the first of hundreds of trees planted in the area.

Today's podcast

A message from our sponsor

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A TDA tidbit

The Met Gala was held yesterday and it provided endless entertainment and fashion commentary fodder for those of us not invited to the $50,000-per-ticket event.

After much consideration, here are TDA's contenders for best dressed:

• Anne Hathaway

• Dua Lipa

• Lil Nas X

What do you think?
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Riddle answer: Live

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