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A Senate inquiry has taken aim at the government’s Climate Active Carbon Neutral labelling program, saying it is currently doing little more than enabling greenwashing.
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The Australian
 

Good afternoon,

A senate inquiry has taken aim at the Albanese government’s Climate Active Carbon Neutral labelling program, slamming the initiative for promoting greenwashing, while the regulator said it could not give it a stamp of approval for the program because its rules were not clear.

Macquarie has built a reputation for spotting a financial trend long before anyone else. Any sudden shift in strategy is worth taking note, writes Eric Johnston.

Meta’s new artificial intelligence tool has ranked Malcolm Turnbull and Anthony Albanese as among Australia’s five best prime ministers, while labelling Tony Abbott and Scott Morrison as controversial and named Peter Dutton among the least humane politicians – sparking fresh concerns of political bias from big tech.

The Australian sharemarket finished stronger in a relief rally as tensions in the Middle East appeared to stabilise over the weekend.The ASX 200 closed 1.1 per cent higher at 7,649.2 points on Monday, with all sectors except energy finding support. The broader All Ordinaries also rose 1.1 per cent at 7,902 points.

Perry Williams
Business editor

The Markets

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The Big Read

Stubbornly sticky inflation and delayed rate cuts, alongside escalating geopolitical tensions, could see sharemarkets endure a rocky ride for the rest of the year, investment experts have warned.

While equities pushed higher in the first quarter, both in Australia and elsewhere, the market exuberance has rapidly deflated as expectations of rate relief have been pushed further out.

The risk now is for a near-term retreat in equities before a recovery kicks in later in the year, according to LGT Crestone chief investment officer Scott Haslem.

Cliona O'Dowd

Read more

GOVERNANCE
‘Greenwashing’: Climate stamp under fire
A Senate inquiry has taken aim at the government’s Climate Active Carbon Neutral labelling program, saying it is currently doing little more than enabling greenwashing.
PAULINA DURAN
COMMENTARY
Macquarie cools on cars: should we be worried?
The investment bank has a reputation for spotting a financial trend long before anyone else. Any sudden strategy shift is worth taking note of.
By ERIC JOHNSTON
EXCLUSIVE
Meta’s AI ranks Turnbull, Albanese ‘best’
The tech giant’s new AI tool has favoured Labor and the Greens when asked simple questions like who is the best Australian politician and the most humane.
By JARED LYNCH
GAMBLING
Star fraud could happen again: casino inquiry told
A $3.2m fraud committed against Star Entertainment could occur again because of ‘cultural issues’ which assumed the customer was always right, the Bell II inquiry hears.
By GLEN NORRIS
WEALTH
Borrowing for shares is back in front of ‘mum and dad’
After a sharp decline, ‘gearing into shares’ is set to return through the unlikely doorway of index funds.
By JAMES KIRBY
EXCLUSIVE
Big change coming to international Qantas flights
The airline says it is taking advantage of an inflection point in global satellite communications, which means it can now offer Wi-Fi on international flights. Here are the first r...
By JARED LYNCH
EXCLUSIVE
Atlassian’s secret to turbocharging productivity
Meetings are the bugbear of most corporate employees. But Atlassian’s Scott Farquhar has up-ended that at the software giant, slashing the equivalent of more than 375,000 of them.
By JARED LYNCH
COMMENTARY
How Victoria can avoid its looming capital strike
Victoria is entering the first stages of an industry capital strike which if not addressed will slash the state’s plant investment and long-term enterprise viability.
By ROBERT GOTTLIEBSEN
ECONOMY
Job ads rise 2.4pc in March amid economic uncertainty
Seek has recorded a 2.4 per cent rise in ads in March and the first quarter-on-quarter increase in two years, but the online jobs company says it’s still too early to call it a tre...
By CHRIS HERDE
PUBS
Bayfield family selling Light Brigade Hotel
Another pub sale could open the floodgates for more deals to be struck as investors chase the safety of returns from the much loved sector.
By BEN WILMOT