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Good morning!
On today’s podcast, I answered the TDA team’s questions about the war in the Middle East.
Is a peace deal actually going to happen? Are the U.S. and Israel fully aligned? Could Iran start targeting countries outside the Middle East?
I’ve got 10 seconds
The quote: “This has gone too far…The world is staring down the barrel of a wider war.”
UN Secretary-General António Guterres speaking to reporters outside the UN Security Council on Wednesday. It comes as Iranian state media reports Iran has rejected a U.S. peace plan.
The stat: 63,000. The number of seats that Brisbane Stadium will hold, according to the Queensland Government. The stadium will be the centrepiece of the 2032 Olympics, with construction set to begin in June. State Premier David Crisafulli revealed more details about the planned infrastructure for the Games in an update on Wednesday.
The big question:
Would you rather have a higher salary with more stress, or a lower salary with better work-life balance?
Yesterday’s results: 66% of you said you make your bed every morning. [4,015 votes].
I’ve got 30 seconds
Some headlines from this morning:
The Federal Government has introduced legislation that could see fuel companies fined up to $100 million for misleading customers. The reform would double current penalties for false and misleading conduct and cartel behaviour. It comes as petrol prices continue to rise amid supply chain uncertainty in the Middle East. Treasurer Jim Chalmers said the bill is about “protecting consumers” and holding “suppliers and retailers to account”. The conflict overseas shouldn’t be an excuse to profit off Australians,” Chalmers added. Meanwhile, the New Zealand Government has introduced a fuel subsidy for nearly 150,000 families with children. Eligible residents will receive a weekly rebate of $NZ50. The scheme will last for the next year, or until petrol drops back below $NZ3, whichever comes first.
A L.A. jury has ruled that YouTube and Instagram were negligent in the design of their apps, and the companies that own them failed to warn about their dangers. The case, which will influence thousands of similar cases against the tech companies, resulted in a $US3 million ($AUD4.3 million) damages award to the plaintiff. Meta (which owns Instagram) will be liable for 70% of the damages, and Google for 30%. The court still needs to rule on punitive damages (financial penalties in civil lawsuits intended to punish a defendant, not just compensate a victim). The case involves a 20-year-old woman who said she became addicted to Google's YouTube and Meta's Instagram at a young age because of their attention-grabbing design. Meta said it disagrees with the verdict and its lawyers are "evaluating our legal options", while a Google spokesperson said the company plans to appeal. Snap and TikTok were also defendants in the trial, but settled with the plaintiff before it began for an undisclosed sum.
Recommendation of the day
ASIC is warning Gen Z about “finfluencers” – here’s why
Financial advice is everywhere online – but not all of it is regulated.
ASIC has issued a warning about “finfluencers”, highlighting where social media content can cross the line into unlicensed financial advice. It comes as more Australians turn to platforms like TikTok and Instagram for money tips.
So what counts as advice, where’s the line, and what should you be aware of?
I’ve got 1 minute
ABC staff have walked off the job, marking the public broadcaster’s first major industrial action in 20 years.
The 24-hour strike commenced at 11am (AEDT) on Wednesday, as staff protested a deal offering a below-inflation pay increase.
The ABC’s main news channel and some of its radio stations are airing BBC World News content for much of the strike, while TV programming across the network is reliant on reruns.
ABC Managing Director Hugh Marks defended the last rejected pay deal – 10% across three years – as financially responsible and competitive for the industry.
Context
ABC staff and management have been negotiating a new agreement on wages and conditions.
Staff are represented by the MEAA and the CPSU (ABC staff can join the public service union because the network is Government-funded). Both unions’ members at the ABC must agree on the deal for it to go into effect.
During negotiations, staff have pushed for pay rises of 5.5% each year for three years.
ABC management offered rises of around 3.25–3.5% per year.
Staff argued management’s offer was below inflation, meaning it would not actually be a pay rise.
Beyond pay, staff also raised concerns about job security, career progression, and the use of AI in the workplace.
They also asked for an audit into how pay gaps affect staff with disabilities or from racial minorities.
The MEAA said ABC management’s offer ignored most of these issues.
Strike
On Wednesday morning, hundreds of journalists, camera operators, technicians and staff rallied outside more than 60 ABC offices.
Speaking at the rally, journalist and union member Michael Slezak told TDA he’s worried about what failed negotiations could mean for the future of the industry.
“I think it’d be incredibly sad, if young journalists decided that they didn’t want to enter journalism, but you can’t do it if you can’t pay the rent. You can’t do it if you don’t know if you’re going to have a job next week.”.
Reporting by Achol Arok and Emma Gillespie.
Quick hits
🎧 On today’s TDA podcast, Zara answers your questions about the war on Iran.
📱Has your feed been flooded with AI-generated fruits recreating Love Island? Sign up to TDA Culture for a deep dive into why it’s so hard to scroll away from those videos.
Good finds
🍿 Australia's largest screen lives in Melbourne, and Project Hail Mary was built to fill it – nearly two hours of the film plays in IMAX's exclusive Expanded Aspect Ratio across all seven storeys. There's no bigger or more immersive way to see it. Project Hail Mary is now showing at IMAX Melbourne.
*Transparency: This is a sponsored part of the newsletter - the best way to keep the newsletter free for you.
I’ve got 2 minutes
On Wednesday, we asked TDA’s audience on Instagram for questions about the fuel crisis. Here’s what you asked, and what experts told us.
Q: If the Strait of Hormuz remains closed for months, what happens?
A: University of Sydney Associate Professor of Economics David Ubilava called the scenario “unlikely”, but said disruption would “become a norm”.
Ubilava said adjustments would “prolong the fall-out of the shock”.
He explained a “rocks-and-feathers” dynamic, where prices increase quickly (such as what we’ve seen with fuel), but decrease slowly.
“Markets are slow to re-adjust once the root cause of the shock is removed,” Ubilava said.
Q: Will we run out of fuel?
A: Associate Professor Ubilava said: “No.” On Sunday, Energy Minister Chris Bowen said Australia had 38 days of petrol, and 30 days of diesel and jet fuel.
Q: When will prices go down?
A: University of Sydney Associate Professor of American Politics and Foreign Policy David Smith believes “backlogs” and “unblock[ing] supply chains” will delay prices going down.
He said: “When you shut down any big element of infrastructure... it takes a lot longer to start it up again.”
“The big fear is that the longer this goes on... getting everything back to normal will take even longer.”
“There is even the possibility that things could get permanently more expensive,” Smith added.
Q: Does this mean people will buy electric vehicles (EVs)?
A: It is difficult to say this early on if EV sales have increased since the conflict began on 28 February. Most of this data is released monthly, and it is still March.
However, looking at Google Trends, Australian searches for EVs have increased since 1 March.
Q: How are other countries dealing with this?
A: In South East Asia, some countries have issued work-from-home orders, and instructed government agencies to reduce their energy and fuel consumption.
New Zealand has announced $NZ50 ($AU41) weekly payments to 143,000 lower-income families with children for one year, or until fuel prices decrease.
In Ireland, the Government will reduce a tax on fuel and increase diesel rebates for businesses.
Q: Can the Government lower fuel prices?
A: Most countries have a fuel excise – a tax paid by consumers on fuel for transportation. In Australia, the rate is 52.6 cents per litre.
Some state MPs in NSW, Victoria and Tasmania have asked the Government to cut the fuel excise.
On 13 March, Energy Minister Chris Bowen said a reduction was “not on our agenda”.
Last week, International Energy Agency (IEA) Head Fatih Birol said he would be “very careful to implement sudden, abrupt changes to the tax regimes.”
Q: Can I still go on my Euro summer trip?
A: According to Associate Professor Ubilava, prices will probably be high for a little while. To avoid disruptions, some airlines are finding alternative routes.
These alternatives may be longer, “so the planes simply need more fuel than usual,” making them more expensive.
“[The] fuel price surge that will stick around for a bit longer even after the conflict ends (and until markets settle),” Ubilava said.
He added that it’s not all bad news, as post-conflict, airlines may have some “aggressive marketing strategies”.
Q: I’m planning a Vic-NSW road trip to see family. Will there be fuel??
A: Assuming you take the Hume Highway, there will be plenty of petrol stations along the way.
Multiple servos at stops including Albury-Wodonga, Yass, and Goulburn are stocked, so you should be absolutely fine to visit family.
Check out the NSW Government’s Fuel Check app and Servo Saver in the Service Victoria app* for peace of mind en route.
*Every state/territory has their own version or recommends third-party apps.
Reporting by Emily Donohoe.
A message from LivaNova
March is Epilepsy Awareness Month – a time to better understand epilepsy and the different ways it can impact people’s lives
One of those realities is drug-resistant epilepsy, which affects around one in three Australians living with epilepsy. This means seizure freedom isn’t achieved despite trying two appropriately chosen medications. Raising awareness is an important step toward greater understanding, empathy and improved care.
Resources are available at Drug Resistant Epilepsy - Epilepsy Action Australia, and LivaNova is supporting efforts to increase awareness and education around drug-resistant epilepsy. If this topic affects you or someone you know, information and support might make a difference.
Give me some good news
Credit: Virunga National park
For the second time this year, endangered mountain gorilla twins have been born at Virunga National Park in the Democratic Republic of the Congo.
What makes this so special is that twins are incredibly rare for mountain gorillas, making up less than 1% of all births. The twins, a male and a female, were spotted just two months after another set of newborn siblings were identified in the same region. Rangers are now keeping a close eye on the pair during their critical first months of life. For an endangered species facing high infant mortality, the birth is being celebrated as a hopeful sign for their survival.
Reporting by Adella Beaini.
TDA titbit
Credit: NSW Police
A man has been arrested in Queensland after thirty years on the run.
Police alleged he was behind two armed bank robberies in regional NSW in the 1990s, including incidents where hostages were taken.
According to NSW Police, the armed man allegedly entered a Coonabarabran bank, demanded cash and took a customer hostage until he reached his motorcycle nearby in 1996.
Months later, in Laurieton, an man with a shotgun allegedly directed staff to fill a duffle bag with cash before taking a bank employee hostage and escaping to a waiting car.
Detectives issued arrest warrants in 1997.
On Tuesday (local time), detectives travelled to Queensland and brought the 76-year-old man back to NSW.
Reporting by Pavitra Ravi.
TDA asks
