SBS News In Depth

The Australian sharemarket snapped a three-day winning streak, to close 0.8 per cent lower, amid rising risks of inflation emanating from the escalating war in the Middle East. Rena Sarumpaet spoke to Jaqueline Fernley of Arcpoint, about the key driving forces both here and abroad.

The US Iran conflict threatens to burst beyond the Gulf with Ukraine and Egypt now in the frame. Bibi says his bromance with Trump is still on and does the cockroaches’ big win mean a big loss of face for Modi? Plus, AI claims another victim - a Canadian politician’s pride…

The latest Closing the Gap report from the Productivity Commission reveals that just one of 19 socio-economic targets has been achieved. At the halfway point of the agreement, Indigenous organisations say community collaboration and investment in children are both crucial to addressing disadvantage.

The United States has launched new strikes on Iran, after US President Donald Trump threatened a heavy response to an attack on a US military base in Jordan. The strikes comes amid growing concern over an expanding conflict, after a drone attack on a US-owned gas storage tanker in Egypt, and the U-S and Saudi Arabia launched joint-strikes on Iran-backed militias in Iraq.

The latest data from the ABS shows headline inflation fell from 4 per cent to 3.8 per cent in June. Despite trimmed mean inflation remaining steady at 3.6 per cent, well above the Reserve Bank’s 2-3 per cent target range, the unexpected drop in the headline figures has eased concerns of another interest rate hike in August. For more, Rena Sarumpaet spoke to Harry Murphy Cruise, head of Economic Research and Global Trade at Oxford Economics Australia. The Australian share market rose following the data drop. For more, Stephanie Youssef spoke with Jamie Hannah from VaNeck.