Billionaire Forrest Blasts China, Superannuation Funds Look to AI

Good morning from Melbourne, in an extraordinary outburst delivered from China, billionaire Andrew Forrest accused that nation’s state-backed iron-ore trader of trying to set up a cartel. Australia’s top superannuation funds reckon artificial intelligence is a major US investment opportunity — what’s less certain is how they’ll pick future winners as bubble fears mount. Meantime, airlines have left tens of thousands of passengers stranded due to the Iran war, while driving isn’t getting any cheaper either, with hundreds of petrol stations out of fuel across Australia. — Paul-Alain Hunt, Metals and Mining reporter

Fresh from a tour of Silicon Valley, Washington and New York — where Australian superannuation chiefs met top investors and Trump administration officials eager to tap the world’s fastest-growing pool of retirement savings — the mega-funds are this week hosting Wall Street leaders on home turf as they hunt for places to deploy their record inflows.