Australians Urged to Save Fuel As Energy Costs Soar

Good morning, Sharon here in Sydney. As US President Donald Trump contemplates an exit from the Iran war, the five-week conflict continues to unsettle the Australian economy. Prime Minister Anthony Albanese last night asked Australians to save fuel, in a rare national address last, and the government has passed a law empowering the country’s export credit agency to physically buy, stockpile and sell fuels. Meanwhile, we look at why businesses are opposing Victoria’s proposed work-from-home laws and at the rugby legend tasked with turning the fortunes of New Zealand’s All Blacks around. - Sharon Klyne, Australia private credit reporter

Albanese used his national address to call on citizens to save fuel and plans financial support for businesses hit by soaring energy costs in the wake of the Iran war. He will speak further on fuel policy at the National Press Club today. Meanwhile, Parliament passed legislation giving the country’s export credit agency the power to physically buy, stockpile and sell fuels alongside critical minerals including rare earths.

ASX Ltd.’s risk and compliance failures could potentially have serious consequences that negatively impact Australia’s financial markets, a probe into the exchange operator found.

Melbourne workers may soon get the legal right to work from home two days a week, a move that the city’s commercial landlords, cafes, barbers, dry cleaners and other small businesses fear will reduce foot traffic in the central business district, making it harder to survive.