SBS News In Depth

The ASX 200 slipped 0.5 per cent ahead of the Federal Budget as oil prices surged and investors weighed the prospect of tax reform. Banks were weaker across the board, while CSL plunged 16 per cent after cutting earnings expectations and flagging a major impairment.

United States President, Donald Trump, has called Iran's response to a proposal to end the war totally unacceptable. The US proposal sought to end fighting before starting talks on more contentious issues, including Iran's nuclear program. Iranian state TV says that country's response focused on ending the war on all fronts, including Lebanon, and on the safety of shipping through the Strait of Hormuz, without indicating how or when the vital waterway might re-open.

The Eurovision Song Contest is back for another year and SBS is putting on its heels, dousing itself with sequins and glitter in anticipation of the broadcast. Australia's entry, Delta Goodrem, is ready to take to the Eurovision stage with her song Eclipse.

The World Health Organisation says there is low risk to the public, after those on board the hantavirus-hit cruise ship disembarked in Tenerife. Passengers and crew aboard the ship are being repatriated to their home countries, with the W-H-O urging regular health monitoring and 42-day quarantine.

Treasurer Jim Chalmers talks One Nation, housing affordability and the economy with SBS World News Chief Political Correspondent Anna Henderson