Wednesday, 9 April - Baby I'm back

Good morning, it’s Wednesday, 9 April. In your Squiz Today…

• There’s talk around of a possible Aussie recession

• Our leaders face off in the first debate

• And the world’s first de-extinction… 🐾

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Squiz the Weather

Squiz Sayings

Said music legend Madonna after ending a rift with Elton John that lasted more than 20 years. The trouble began in 2004, when Sir Elton made some unkind comments about Madonna’s alleged lip-syncing, but the 2 made up on the weekend. Maybe sorry isn’t such a hard word after all…

An Aussie recession enters the chat

The Squiz

Out and about on the campaign trail yesterday, both of our major party leaders were asked if Australia is a chance to head into a recession - aka a significant decline in economic activity - as the tariff-off between China and the US continues to escalate. PM Anthony Albanese didn’t respond directly to the recession question - sticking to his message that Labor is best placed to manage the economy during a difficult period. But Coalition leader Peter Dutton said a recession is on the cards if Team Albanese is re-elected.  

So how likely is it?

Some economists reckon it’s unlikely because Australia isn’t too exposed to the US tariffs, due to the fact we don’t export as much to the US as we import. But if China ends up in recession because of a trade war with the US, that could limit how much of our homegrown products it buys, which might lift the odds. And that trade war isn’t slowing down - China responded to Trump’s initial tariffs with a 34% tariff of its own, so Trump fired back with another 50% - which the White House says will be official as of this afternoon. That would bring the US tax on imports from China to 104%, which China has described as “economic bullying” - and with neither side backing down, cue more havoc on global stock markets. 

And how did our stock market go yesterday?

After a historically bad day on Monday, the ASX 200 (which tracks the 200 biggest listed companies in the country) bounced back by 2.3% - that's its biggest one-day gain since 2022. But some experts are warning that this doesn't mean the market is out of the woods - market analyst Kyle Rodda called it a “dead cat bounce”, which is a bit of a morbid financial term for something rising a tiny bit because it dropped so far in the first place. Given the chaos, Treasurer Jim Chalmers - who’s set to debate Opposition Treasury spokesman Angus Taylor on the economy tonight  - has also called an emergency meeting of Australia’s financial regulators to try to deal with the tariff troubles.

Cracking down on deepfakes

Adobe - the software giant behind programs like Photoshop and generative AI model Firefly - knows the dangers of AI-generated content all too well, particularly when it comes to election campaigns. That’s why this year’s ‘Authenticity in the Age of AI’ study has come at a good time… It digs into the fact that deepfakes are on the rise in elections - they’re photos or videos of people that have been digitally altered - and how policymakers can intervene. You can read the results from that report here.

Squiz the Rest

The first election face off

PM Anthony Albanese and Coalition leader Peter Dutton went head-to-head in the first election debate last night, hosted by Sky News. It wasn’t exactly a barnstorming gamechanger, but the 2 leaders covered topics like Trump, Gaza, cozzie livs, and who would be better for the economy. Energy was another big issue, with Dutton hoping to one-up the PM by revealing his gas policy pricing, which would slightly lower household power bills. But the audience of 100 undecided voters narrowly picked Albanese as the winner with 44 votes, while 35 chose Dutton and 21 were on the fence. It wouldn’t have been the easiest night for Dutton - his father Bruce was taken to hospital with a heart attack in the leadup, but he’s now in a stable condition. The 2 leaders will go head-to-head again on the ABC on 16 April.  

NSW doctors are sick of their pay rate

Doctors in NSW have begun a 3-day strike as they push for better pay and conditions. The major gathering yesterday was at Westmead Hospital in Sydney, with 5,000 public sector doctors from all specialties showing up… Their main gripe, according to the NSW doctors’ union, is that they could be paid up to 30% more in other states and territories - but the state government’s latest offer only offered a 10.5% pay rise over the next 3 years. The strike is due to run through until Thursday, with some elective surgeries and specialist appointments cancelled at public hospitals across NSW - you can read up on that here. As for emergency departments, the union says they’ll still be rostered with fewer staff.

Gupta refuses to go

KordaMentha - the firm brought in to run the Whyalla Steelworks after it went into administration - has launched legal action against businessman Sanjeev Gupta’s company GFG Alliance, claiming it’s refusing to hand over control of the Whyalla port. To remind you, GFG has been operating the steelworks since Gupta acquired it in 2017. It’s struggled financially in recent years, and in February, the South Australian Government forced it into administration. Since then, KordaMentha sent a notice of termination to GFG over its lease of the port, which is crucial for exporting iron ore and steel - but GFG said no, leaving KordaMentha to take it to the Federal Court. A mediation hearing is pencilled in for 5 May.

The world’s first de-extinction 

You may have heard the term dire wolf if you watched a bit of Game of Thrones, but it was also a real creature that’s been extinct for 12,500 years. Until now, that is… Because a US biotech company has brought it back from the dead. Scientists from Colossal Biosciences announced that they've combined ancient DNA from dire wolf fossils with the genes of living grey wolves to produce 3 healthy pups (Remus, Romulus and Khaleesi), which you can see having a run around here. The company says it’s the first example of an animal being de-extincted - a claim that’s already been disputed - and it’s also got plans to bring back the woolly mammoth, the dodo and even the mighty Tassie tiger - so maybe we haven’t thyla-seen the last of those…

Highs and lotuses

Monday’s Season 3 finale of toxic-rich-people-by-the-pool drama The White Lotus was the most-watched episode in the history of the show. Though the critical takes were a mixed bag - ranging from “least satisfying ending ever” to “devastating and brilliant” - the series is only getting more popular, with 6.2 million people checking out the finale in the US, 30% more than the previous high point. And as one prestige drama ends, another begins - the second season of zombie thriller The Last of Us premieres Monday 14 April. But unlike last season, it won’t be on Foxtel’s streaming service BINGE - for this one, you’ll need to sign up for new streamer on the block Max to check out all the bitey shenanigans…

Apropos of Nothing - Clever critters edition

An African giant pouched rat from Tanzania named Ronin has found fame in his talent for detecting unexploded landmines in Cambodia’s Preah Vihear province. Using his keen smell and high intellect, he’s sniffed out 100 and counting - saving lives and giving Remy from Ratatouille a run for his money as the most useful rodent… 

If you thought Ronin had a good nose, check out Daisy and Kip - the pair of pups who tracked down 13 critically endangered earless dragons as part of a mission by Zoos Victoria. With their gentle nature and ripper schnoz, these pups have definitely earned a treat or two.

And while we’re putting animals to work, genetically modified tadpoles could soon eat away our invasive cane toad problem. Scientists have removed a single gene from the species to keep the hatchlings in their cannibalistic phase with the intention that they find their dinner in their siblings… Talk about sibling rivalry…

Squiz the Day

9.30am (AEST) - The Australian Transport Safety Bureau will release the final report from its investigation into the 2023 collision of 2 tourist helicopters on the Gold Coast that killed one of the pilots and 3 passengers - Gold Coast

10.00am (ACST) - A Darwin edition of Monopoly is launching today with a giant 5×5m game board on the city’s waterfront - Darwin

11.30am (AEST) - Australian Greens Leader Adam Bandt will speak at the National Press Club - Canberra

12.30pm (AWST) - Virginia Giuffre, the woman who accused Prince Andrew of sexually assaulting her, is due to appear in court after being charged with breaching a family violence restraining order in early February - Perth

7.30pm (AEST) - The Treasurer’s Debate between Jim Chalmers and his Coalition counterpart Angus Taylor will be hosted by Sky News

US President Donald Trump has given today as the deadline for Beijing to withdraw its retaliatory 34% tariff on US imports or face an additional 50% levy on top of the current rate of 54%

Birthdays for food journalist Nigel Slater (1958), fashion designer Marc Jacobs (1963), actors Cynthia Nixon (1966) and Kristen Stewart (1990), and rapper Lil Nas X (1999)

Anniversary of:

• the end of US Civil War after the surrender of the Confederate Army (1865)

• US troops capturing Baghdad, which led to the fall of Saddam Hussein’s regime (2003)

• King (then Prince) Charles and Camilla's wedding (2005)

• the death of Prince Philip (2021)