Credit

• Recent federal tax legislation and policy changes now require parents to have a valid Social Security number (SSN) to claim Child Tax Credit (CTC), Additional Child Tax Credit (ACTC), and Earned Income Tax Credit (EITC). • Undocumented parents who file taxes with an Individual Taxpayer Identification Number (ITIN) can no longer claim these credits even if their children are U.S. citizens, significantly reducing tax relief for mixed-status families. • Federal policies enacted in 2025 expanded the range of programs treated as "federal public benefits" subject to immigration-status eligibility restrictions, including Head Start, community health center services, and Title X family planning services.

Treasurer Jim Chalmers said the changes would help with the cost of living and that ‘Australians hate paying’ the surchargesDebit and credit card surcharges will be gone by October under Reserve Bank reforms, with big banks likely to foot the bill for the cost-of-living measures.The new rules, announced on Tuesday, will enable businesses to remove added fees on Mastercard, visa and eftpos card payments. Continue reading...

• The leading U.S. medical school accreditation body, LCME, removed language from its 2027-2028 standards requiring schools to teach about health inequities and disparities. • The previous standards mandated instruction on "health care disparities" and "approaches to reduce health care inequities," which were replaced with language on self-directed learning skills. • The change comes as the Trump Department of Justice probes three medical schools, amid growing political pressure on diversity and equity initiatives in medical education.

• A federal judge on Friday ruled against the Pentagon's press access overhaul that had withdrawn accreditations from prominent media outlets, ordering the restoration of media access. • The decision represents a significant legal victory for press freedom advocates challenging the Defense Department's restrictions on journalist credentials and Pentagon facility access. • The ruling underscores ongoing tensions between the Trump administration's approach to media access and constitutional protections for a free press.

Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from BerlinTwo European banking powerhouses have become embroiled in a €35bn (£30bn) takeover battle after Italy’s UniCredit stepped up its long-running pursuit of German lender Commerzbank, despite strong opposition from the German government.UniCredit first took a stake of 9% in Commerzbank in September 2024 and has since built up its holding to just under 30%. It said on Monday it was pushing to increase that holding further and push the rival lender into formal merger talks. Continue reading...

• Americans give the Trump administration credit for reducing drug costs, according to recent polling highlighted in pharma updates. • A new study shows Eliquis (apixaban) safer than Xarelto (rivaroxaban) for patients with deep vein blood clots. • Abivax denies takeover rumors from AstraZeneca amid industry consolidation talks.

Growing stress in the global private credit market contributed to US investors dumping stocks before the March 13, 2026, close, alongside geopolitical risks and hedge fund losses. This pressure, distinct from recession fears, prompted defensive positioning as markets grappled with Persian Gulf uncertainties. Private credit strains, involving non-bank lending to companies, risk amplifying volatility if oil disruptions persist. Watchers note this as a key signal beyond traditional equity drivers.