FT News Briefing Australia’s voters go to the polls
30 snips
May 2, 2025 Amazon faces challenges from Trump's trade war with weaker forecasts. As Australians prepare to vote, they grapple with inflation and a rising cost of living. The political landscape shows Labor gaining traction amid international tensions. European banks thrive from market volatility, an unexpected boost. Voter sentiments reflect concern over coal dependence versus renewable energy ambitions, showcasing a nation at a crossroads.
AI Snips
Chapters
Transcript
Episode notes
European Banks' Trading Windfall
- European banks gained significantly from first-quarter market volatility triggered by US tariffs.
- Trading revenues soared even as investment banking slowed, cushioning overall profits.
Volatility Boosts Bank Trading
- Market volatility from Trump's tariffs increased trading activity for banks worldwide.
- This trading surge offset declines in traditional investment banking activities like IPOs and M&A.
Cost of Living Dominates Australia Vote
- Australia's election centers on the cost of living crisis driven by inflation and housing shortages.
- Outer suburbs and young families bear much of the brunt from rising food, fuel, and housing costs.