Why the RBA is predicted to deliver a third straight interest rate hike this week

• President Donald Trump signed a comprehensive executive order significantly expanding U.S. sanctions against Cuba, targeting individuals, entities, and sectors linked to the Cuban government. • The new measures focus on key economic areas including energy, defense, financial services, and security sectors, with secondary sanctions allowed on foreign entities conducting business with targeted Cuban organizations. • The escalation reflects Trump's intensified pressure campaign against the Cuban government and signals broader shifts in U.S. foreign policy toward adversarial regimes.

• During a heated Senate Armed Services Committee hearing, Senator Kirsten Gillibrand directly challenged Defense Secretary Pete Hegseth over rising Iran war costs, specifically questioning reports of a potential $200 billion additional spending request. • Gillibrand pressed Hegseth on the lack of evidence that military operations have made Americans safer, arguing the massive spending burden conflicts with domestic economic pressures and inflation affecting citizens. • Hegseth defended the campaign as a necessary and "defined mission" with strategic objectives, comparing it to long-term conflicts like Iraq and Afghanistan, highlighting growing Washington tension over war costs and direction.

• Israel reportedly deployed its cutting-edge Iron Beam laser system to the United Arab Emirates during the Iran conflict, designed to destroy incoming drones and rockets mid-air despite the prototype not being fully integrated into Israel's own defense network. • The advanced laser weapon was rushed into combat alongside an advanced surveillance system that detected incoming Iranian drones, signaling deepening military cooperation between Israel and the UAE. • The deployment highlights the Abraham Accords alliance and raises questions about real-world testing of next-generation weapons systems during active Middle East conflicts.

• Reports indicate Iran may be circumventing international sanctions through cryptocurrency exchanges, with Nobitex allegedly linked to figures close to Supreme Leader Ali Khamenei's circle acting as a key financial conduit for sanctioned entities and individuals. • Blockchain analysis suggests millions of dollars have moved through the platform despite Western restrictions, utilizing advanced obfuscation tactics to obscure transaction trails. • The alleged sanctions evasion exposes enforcement gaps as the Trump administration grapples with containing financial flows from Iran, raising questions about the effectiveness of existing economic pressure campaigns.

• An Israeli Defense Forces official warned that the Iran conflict risks becoming "one big failure" unless Tehran's estimated 400 kilograms of enriched uranium, stored near weapons-grade levels, is removed. • Israeli officials claim the current stockpile could potentially yield up to 11 nuclear weapons if further processed, while Iran maintains its nuclear program is exclusively peaceful. • The Trump administration signals ongoing concerns over Iran's nuclear capabilities, raising fears of potential renewed escalation as negotiations remain stalled and both sides maintain hardline positions.

• A CNN investigation based on satellite imagery and damage assessments found that Iranian strikes damaged at least 16 U.S. military installations across eight Middle Eastern countries during the conflict. • Some U.S. military facilities suffered extensive harm classified as operationally unusable or facing difficult repair decisions, suggesting the scale of attacks was far greater than publicly acknowledged. • The report raises questions about whether the Pentagon has understated both physical damage and the true financial costs of the Iran war, challenging official public accounting of the conflict.

Southwest staff organized water cannon salute when aircraft arrived and Jon Jackson was met with cheers and applauseA Spirit Airlines pilot was given an emotional send-off into retirement by another airline after what was supposed to be his final flight was canceled amid Spirit’s sudden collapse on Saturday.Jon Jackson had been scheduled to fly his final flight into Baltimore-Washington international airport on Saturday when the low-cost airline ceased operations after running out of cash and rescue talks with the Trump administration failed. Continue reading...

As major parties once again spruik budget night events at thousands of dollars a ticket, some MPs say they resent the ritzy social galasGet our breaking news email, free app or daily news podcastThey’re dismissed as boring, little more than a “selfie” opportunity for economy nerds – or even labelled a threat to democracy.But as budget week approaches, the major parties are once again spruiking fundraising dinners and drinks for their most loyal followers – and slugging them for thousands of dollars. Continue reading...

Kaela Berg is running in a crowded field with a pro-union message and a vow to protect the state’s immigrantsWhen the Minnesota state legislature is not in session, Kaela Berg is working in the skies.Berg has spent the last six years doubling as a state legislator and a flight attendant, taking shifts when the legislature is on break. Continue reading...

Billionaire’s role as honorary chair and main source of funding has led to boycotts and criticism event has lost its cacheThe Met Gala in New York is the grandest and ritziest event in the fashion calendar, and an indicator of the growing ties between designers, celebrity and power. But with tech billionaires now joining the cohort, this year’s party may be its most controversial yet.All eyes are on the guest list – and their outfits – to launch the fashion exhibition Costume Art at the Metropolitan Museum of Art’s Costume Institute. Beyoncé, Venus Williams and Nicole Kidman are chairing the event with Vogue’s Anna Wintour, and tickets cost about $100,000 (£73,500). But in a plot twist worthy of the new Devil Wears Prada film, Jeff Bezos and Lauren Sánchez Bezos, the Met Gala’s new honorary chairs, will be joining the 450 guests on the museum steps on Monday. Continue reading...

US attorney says ‘we can establish’ pellet from defendant’s gunshot was ‘intertwined with fiber of vest’ of federal agentThe US government has evidence that a federal agent was shot by the suspect during an alleged recent attempt to assassinate Donald Trump at the White House Correspondents’ Association dinner, the US attorney for the District of Columbia Jeanine Pirro said on Sunday.“We now can establish that a pellet that came from the buckshot from the defendant’s Mossberg pump-action shotgun was intertwined with the fiber of the vest of the Secret Service officer,” Pirro said on CNN. Continue reading...