SBS News In Depth

Australia’s new free trade deal with the European Union could unlock a $10 billion boost to trade, cut prices on European goods and expand access for local exports, though it comes with compromises for some producers. University of Technology Sydney Chief Economist Tim Harcourt explains what it means, before a look at the markets with Stuart Roberts from Stocks Down Under, as the ASX200 edges higher and mining stocks lift.

Tens of thousands of education workers have walked off the job and marched on the Victorian parliament over a pay dispute. It's the first time in 13 years the state's teachers, principals and support staff have staged a 24-hour stoppage, severely disrupting lessons in hundreds of schools.

Australia and the European Union have signed a landmark $10 billion trade and security pact to eliminate industrial tariffs and strengthen co-operation on cyber and maritime defence. While the Prime Minister has hailed it as an economic win, the deal has faced criticism from the National Party regarding agricultural access, and from the Greens over Australia's strategic dependency on Europe.

Iran says no negotiations have been held with the United States, despite US President Donald Trump's claims US envoys have been holding talks with a respected Iranian leader. Mr Trump had earlier abruptly postponed plans to obliterate Iran's power plants. Meanwhile, Israel says it will continue to strike Iran and Lebanon, as the U-S considers a ceasefire.

The war in the Middle East, and the effective closure of the Strait of Hormuz, has triggered what experts describe as one of the most significant energy crises in decades. But oil and gas are not the only vital resources that are impacted. The war has also severely disrupted the flow of fertiliser from the Middle East, triggering concerns over the impacts on local food production and food security.