Latest updates on Key Economic Indicators:

A$: $0.6443 USD (down 0.0022 USD)

Iron (SGX): $112.35 USD (up $1.20 USD)

Oil (WTI): $85.67 USD (up $0.01 USD)

Gold: $2,381.44 USD (up $36.91 USD)

Copper (CME): $4.3775 USD (up $0.1190 USD)

Bit-coin: $63,267.18 (down 0.62%)

Dow Jones: 37,735.11 (down 248.13 pts)

All changes compared to 7am yesterday.

Trump’s historic criminal trial officially begins as first potential jurors are sworn in – live!

The first batch of potential jurors has been sworn in by the judge, Juan Merchan.

This makes Donald Trump the first US president, former or president, to stand trial.

Since the jurors have been sworn in, the trial has officially started.

Speaking to a press pool outside of the courtroom on Monday, Trump repeatedly called the trial a “scam” and stated it was preventing him from attending his son’s graduation, appearing at a Supreme Court hearing, and campaigning for the upcoming presidential election.

“If you read all of the legal pundits or the legal scholars today, there’s not one that I’ve seen that said, this is a case it should be brought or tried,” he said. “It’s a scam. It’s a political witch hunt. It continues, and it continues forever. And we’re not going to be given a fair trial. It’s a very, very sad thing.”

Trump opened his remarks to the pool with complaints about his son’s graduation ceremony, which the former president’s legal team requested a day off to attend. Although the judge has yet to make an official ruling on the matter, Trump acted as though it had been denied.

“As you know, my son is graduating from high school and it looks like the judge will not let me go to the graduation of my son,” he said. “I was looking forward to that graduation, with his mother and father there, and it looks like the judge does not allow me to escape this scam.”

Trump claimed he may not be able to travel to Washington, D.C. for a Supreme Court hearing to decide whether he should be awarded presidential immunity exempting him from criminal charges that he conspired to overturn the results of the 2020 election.

He also said his inability to campaign in key states ahead of the presidential election due to the trial would ultimately benefit Democrats.

'A new generation of leadership': Singapore chooses its fourth PM in six decades:

New Singapore PM Lawrence Wong wasn't born when Singapore separated from Malaysia in 1965 and only entered politics in 2011, not long before his 40th birthday.

But his expert handling of Singapore's COVID-19 response, which saw the city state achieve one of the world's lowest rates of death during the pandemic, has earned him right to become his nation's fourth prime minister, with the "Full confidence" of his predecessor.

The 51-year-old will be sworn in on May 15, current prime minister Lee Hsien Loong announced on Monday.

"Lawrence and the 4G team have worked hard to gain the people's trust, notably during the pandemic," Mr Lee said in a Facebook post.

"Through the Forward Singapore exercise, they have worked with many Singaporeans to refresh our social compact and develop the national agenda for a new generation."

Stabbing attack at Sydney church as police counter angry crowds

The Sydney Morning Herald - Page Online : 16 April 2024 - Original article by Sally Rawsthorne, Perry Duffin, Matthew Knott, Clare Sibthorpe - Portmac.News Summary

Sydney has been rocked by a second violent knife attack in recent days.

A 15-year-old male has been arrested after he allegedly stabbed Orthodox Christian leader Bishop Mar Mari Emmanuel multiple times during a livestreamed service at the Assyrian Christ The Good Shepherd Church on Monday evening.

Several worshippers also sustained knife wounds during the attack.

Riot police were called in after hundreds of community members gathered outside the church following the attack.

The angry mob attack police officers with projectiles, and a number of police vehicles were damaged.

Premier Chris Minns called for the community to remain calm.

Israel warned to hold its fire

The Australian - Page 11 : 16 April 2024 - Original article by Danny Kemp - Portmac.News Summary

The US has told Israel it will not be part of any response against Iran, following the Iranian attack on Saturday that injured one young boy but caused no other casualties.

Manwhile UN secretary-­general, Antonio Guterres has told the UN Security Council that "Now is the time to defuse and de-escalate".

Israel's UN envoy, Gilad Erdad, has urged the council to impose all possible sanctions on Iran, while Iran has stated the attack was in response to an airstrike on its consulate in the Syrian capital of Damascus on 1 April that left seven Iranians dead and which was widely blamed on Israel.

Middle East nuclear risk

The Australian - Page 25 : 16 April 2024 - Original article by Robert Gottliebsen - Portmac.News Summary

The next US president of the US will face an Iran that has the nuclear bomb and the ability to deliver it.

Many people in Israel, and some in the US, believe that Iran's weekend missile and drone attack provides a unique opportunity to eliminate the nation's nuclear capability before it is fully developed.

The F35 Joint Strike Fighter played an important role in defending Israel against the attack.

The Israelis have made changes to the F35 to make it a very different and far more effective aircraft than that possessed by Australia.

The big difference between Australia and Israel is that Australia's defence has been based on the assumption that an attack was not likely, and that we could rely on the Americans.

Israel also relies on the Americans, but its base assumption is that it could be attacked at any time.

Gaza protests: business braces for more pain

The Australian Financial Review - Page 3 : 16 April 2024 - Original article by Patrick Durkin - Portmac.News Summary

Pro-Palestine protestors sought to block "The arteries of capitalism" in a number of Australian cities on Monday, with ports, train stations and CBDs among their targets.

Victorian police stated that 14 protestors were arrested in Melbourne, including 12 near the Boeing factory in Port Melbourne, where a road was blocked.

Another two were arrested for tampering with traffic lights in Carlton, with Victorian Chamber of Commerce & Industry CEO Paul Guerra saying blocking roads and interfering with traffic lights is "Dangerous, insensitive and disrespectful".

Victorian's Opposition leader John Pesutto says people have a right to protest, but in a peaceful way, and that the protestors on Monday were giving democracy a bad name.

L-NP 51% cf. ALP 49% : Swing to Coalition continues (Two-party preferred)

Market Research Update - Page Online : 16 April 2024 - Original article by Roy Morgan - Portmac.News Summary

Support for the Coalition has increased by 0.5% to 51% to edge further ahead of the ALP on 49% on a two-party preferred basis, according to the latest Roy Morgan survey.

If a Federal Election were held now the result would be too close to call, with a hung parliament and the support of minor parties and independents required for either the ALP or Coalition to form a minority government.

Primary support for both major parties increased marginally this week, with the Coalition up 0.5% to 38.5% and the ALP up 0.5% to 30%.

Support for the Greens was unchanged at 13.5% while One Nation was down 0.5% to 5.5% - both these minor parties are above their result at the last Federal Election.

Support for Independents was down 1.5% to 7.5%, while support for Other Parties increased 1% to 5%.

The latest Roy Morgan survey is based on interviewing a representative cross-section of 1,706 Australian electors from April 8-14.

Most of the interviews were conducted before Foreign Minister Penny Wong suggested that Australia could recognise a Palestinian State. 

Palestinians were refused Australian visitor visas due to concerns they would not 'stay temporarily'

The Guardian - Page Online : 16 April 2024 - Original article by Paul Karp, Daisy Dumas - Portmac.News Summary

The Senate has been told that 150 Palestinians who sought visitor visa applications in the first three months of the Israel-Gaza conflict had their applications refused because "they did not demonstrate a genuine intention to stay temporarily in Australia".

Greens immigration spokesperson David Shoebridge has labelled the justification used as "Beyond cruel", independent senator Lidia Thorpe described it as a "Cold blooded act" by the federal government.

Meanwhile Jewish Council of Australia co-executive officer Max Kaiser said it was "Unconscionable to apply bureaucratic rules to people fleeing war".

Made in Australia 'a bit risky': former RBA boss

The Australian Financial Review - Page 5 : 16 April 2024 - Original article by Michael Read - Portmac.News Summary

The federal government's proposed Future Made in Australia Act has come under fire from former Reserve Bank of Australia governor Bernie Fraser, who contends that it represents a risk to taxpayers.

Fraser says governments do not have a good track record when it comes to 'Picking winners' in terms of identifying successful industry sectors. AMP's chief economist Shane Oliver has described the policy as "Depressing".

PM's plan to subsidise billionaires' projects an electric shocker

The Australian - Page 13 : 16 April 2024 - Original article by Judith Sloan - Portmac.News Summary

PM Albanese has claimed that investment in renewable energy will lead to cheaper power, while some will query why the government needs to subsidise the latest projects of billionaires Mike Cannon-Brookes or Andrew Forrest.

However, while Albanese may view renewable-generated electricity as the cheapest form of power, most economists are of the view it is the most expensive form of 24/7 electricity, once factors such as the need for back-up/storage and additional transmission are taken into account.

Aged-care wage rises to buffet budget

The Australian - Page 9 : 16 April 2024 - Original article by Stephen Lunn - Portmac.News Summary

Health Services Union secretary Gerard Hayes says the federal government's push to delay wage rises for aged-care workers will make it harder to retain or attract workers to the sector.

He adds that the pay rise is a "Catch-up" for aged-care workers, and a delay will "Keep them behind".

The government has committed to fully funding the wage increase of up to 13.5% in the wake of the Fair Work Commission's ruling in March, which will cost about $3.3bn over four years.

However, it wants the pay rise to be phased in over two years, citing factors such as budget pressures and fears that higher wages would divert workers from other sectors.

Stakeholder summit bid to end Murray-Darling standoff

The Australian - Page 9 : 16 April 2024 - Original article by Sarah Ison - Portmac.News Summary

The Murray-Darling Basin Authority is to convene a meeting of stakeholders to try to work out how to return 450GL of environmental water to the Murray Darling Basin.

Farmers, environmentalists and Indigenous people are to attend the meeting, along with officials from all states and territories.

MDBA CEO Andrew McConville will use an address on the first morning of the two-day summit to call on stakeholders to "Set aside some of the antagonism and polarisation of views", and for them to work together until they can come up with a" just and practical way for sharing our river water and managing our river".

Global heating pushes coral reefs towards worst planet-wide mass bleaching on record

The Guardian - Page Online : 16 April 2024 - Original article by Graham Readfearn - Portmac.News Summary

The US National Oceanic and Atmospheric Administration's Coral Reef Watch has confirmed the world's coral reefs are suffering their fourth mass bleaching event as a result of global heating.

The latest event is set to be the worst on record.

A global mass bleaching event is considered to have occurred when at least 12% of corals in each of the main ocean basins experience bleaching-level heat stress within a 12-month period

Meanwhile Coral Reef Watch also confirmed that the Great Barrier Reef had been through its most widespread heat stress event on record in 2024; the Great Barrier Reef is the world's largest coral reef system.

Sydney petrol hits record amid retaliation fears

The Australian Financial Review - Page 29 : 16 April 2024 - Original article by Alex Gluyas - Portmac.News Summary

Data from motorist group NRMA shows that the average price of regular unleaded petrol in Sydney has risen to a new high of $2.33 per litre; this compares with an average of $2 a week ago.

In contrast, the average price of regular unleaded petrol is currently about $1.96 per litre in Melbourne and $1.85 in Perth.

Peter Khoury from the NRMA says the high petrol price in Sydney is "Exclusively a local issue", as many service stations in the NSW capital are selling petrol at a much higher price than the wholesale price.

Meanwhile, Daniel Hynes from the ANZ Bank says the crude oil price could rise above $US100 a barrel again if the conflict in the Middle East escalates.

Tesla lays off 'more than 10%' of its global workforce

electrek.co - Page Online : 15 April 2024 - Original article by Jameson Dow - Portmac.News Summary

Tesla CEO Elon Musk has used an internal email to inform staff of the automotive and clean energy company that it intends to reduce its global workforce by more than 10%.

Tesla has a headcount in the order of 140,000 employees, so it would mean that at least 14,000 employees are to be made redundant.

The proposed layoffs come after a poor delivery report when Tesla significantly missed delivery estimates and had a year-over-year reduction in sales. It will release its latest quarterly results on 23 April, with analysts tipping it will post a profit of around $US0.50 cents a share, compared to $US0.85 per share in Q1 2023.

Telcos' concern over 3G shutdown

The Australian - Page 21 : 16 April 2024 - Original article by Jared Lynch - Portmac.News Summary

Telstra will shut down its 3G mobile network in June, with Optus to follow in September; TPG commenced the shutdown of its own 3G network in late 2023.

The telcos have urged the Australian Competition & Consumer Commission to use its product recall powers to ensure that customers are made aware that they may longer be able to call emergency services when the 3G networks are shut down.

However, the ACCC contends that its recall powers only apply to products that are deemed to be dangerous, and therefore do not apply to 3G phones.

Senator in TikTok tip to AUSTRAC

The Australian Financial Review - Page 15 : 16 April 2024 - Original article by Nick Bonyhady - Portmac.News Summary

Opposition Home Affairs spokesman James Paterson has referred social video site TikTok to anti-money laundering authority AUSTRAC.

His referral comes after TikTok was found to have lied to Irish banking regulators about problems with its payment screening system that first emerged in Turkey.

A noted critic of TikTok because its ownership structure places it under the potential control of the Chinese Communist Party, Paterson says it is important that AUSTRAC investigate the potential money laundering concerns raised by Irish authorities.

'We must find better ways' : BHP & Rio Tinto join forces to make unprecedented change in steel production

The Cool Down - Page Online : 16 April 2024 - Original article by Jeremiah Budin - Portmac.News Summary

Iron ore rivals BHP and Rio Tinto are collaborating on the development of an electric smelting furnace in Australia.

They contend that the technology could reduce the carbon dioxide pollution intensity of steel-making by 80% compared with standard blast furnaces.

Steel is one of the world's most widely-used construction materials, but current production methods generate massive amounts of greenhouse gases.

The International Energy Agency has warned that the steel industry is currently not on track to meet the net-zero emissions target of 2050.

The iron men with a $3 billion plan to save the planet

The Age - Page Online : 16 April 2024 - Original article by Anne Hyland - Portmac.News Summary

Former Fortescue executives Michael Masterman and Bart Kolodziejczyk are the founders of Green Zero, which seeks to reduce the carbon footprint of iron ore, which is Australia's most lucrative export.

Energy analysts Wood Mackenzie estimate that production of iron and steel accounts for 7% of global emissions, and Green Zero is seeking to construct a $US2.1 billion ($3.2 billion) green iron ore processing plant in the Pilbara region of Western Australia within five years.

It has developed and patented a technology to reduce iron ore to pure iron via an electrochemical process.

ASX Tech stocks weigh on Exchange

The Australian Financial Review - Page 28 : 12 April 2024 - Original article by Joanne Tran - Portmac.News Summary

The Australian sharemarket lost ground on Monday, with the S&P/ASX 200 shedding 0.5% to close at 7,752.5 points.

Growing concern that the Israel-Hamas war could escalate into a wider conflict in the Middle East weighed on interest rate-sensitive stocks.

NextDC fell 3.9% to $15.88 and the Commonwealth Bank was down 1.4% at $114.64.

However, Rio Tinto rose 3.6% to $7.88.