FEAR & GREED | Business News 3.5pc wage rise for 2.6m workers; RBA warns on tariffs; AI takes centre stage for business
Jun 3, 2025
A 3.5% wage increase for 2.6 million workers is set to boost real wages, sparking optimism amidst inflation. The Reserve Bank raises concerns over tariffs, linking them to economic health. AI takes the spotlight in various industries, revolutionizing business practices. A quirky incident in Washington sees millions of bees escaping from a truck, prompting a unique rescue effort. Plus, groundbreaking needle-free vaccination technology could transform global healthcare efforts, especially in developing regions.
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Fair Work Commission Raises Wages
- The Fair Work Commission raised minimum wages by 3.5%, benefiting 2.6 million workers and pushing real wages up above inflation.
- This wage increase supports low-paid workers who are likely to spend the money, boosting the economy without triggering inflation.
RBA Warns on Trump Tariffs
- The Reserve Bank is concerned Donald Trump's tariffs could cause consumers to cut spending and businesses to halt hiring and investment.
- The RBA sees more rate cuts likely if tariffs escalate, increasing economic caution.
Bradfield Seat Undecided by 27 Votes
- The federal election seat of Bradfield in Northern Sydney remains undecided by just 27 votes after recounts.
- The usually Liberal stronghold is highly competitive, showing shifting political dynamics.
