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Here’s what you need to know today

• Australia’s unemployment rate held steady at 4.1%, as an additional 32,200 people found work in March. This is a positive sign that businesses are holding up okay despite all of the economic headwinds. However, these numbers are from March, before Trump’s 2 April tariff announcement, when the headwinds became a full-blown storm. (Capital Brief)
  
  

• Indonesia has assured Australia it will not allow Russia to station military aircraft on an Indonesian air force base. Russia and Indonesia have been forging closer ties since President Prabowo took over, as he visited the Kremlin in July and the two countries conducted joint military drills in November. (ABC News)
  
  

• After the leaders debate on Wednesday night, the Australian election is now over halfway done. Yesterday we had the coalition announcing $260m for technical colleges for high schoolers to learn trades and other vocational skills (ABC News) while Labor was clarifying comments made around negative gearing during the debate. (ABC News)
  
  

• In the US, March retail sales were up 1.4% in a month - the highest monthly gain since 2023. Good news right? Not quite, as economists believe shoppers are buying like its a ‘blowout sale’ trying to buy what they need before tariffs push prices up. (Quartz)
  
  

• Nvidia had a tough night after the US government moved to block exports of its H20 chips to China. While the US has already banned the sale of its most advanced chips, Nvidia has been able to sell older technology. Not for long it seems, and the share price fell 7% on the news. (The Guardian)
  
  

• Meanwhile, Taiwan Semiconductor Company (TSMC) reported first-quarter profit up 60%, topping analyst estimates. However, the company warned that the second quarter would be more difficult as it faced into tariffs as well as export restrictions on many of its semiconductors. (CNBC)
  
  

• US Federal Reserve chair Jerome Powell warned that Trump’s tariffs could challenge the Fed’s dual mandate of ensuring low inflation and a healthy jobs market. (CNBC)
  
  

• Inflation in Britain continues to fall, down to 2.6% for the 12 months to March, down from 2.8% in February. This is a common story around the world, inflation getting back close to target, but measures a period before Trump’s ‘Liberation Day’ tariff announcement. (BBC)

What the…?

Researchers in Japan have achieved a world-first: launching a wood panelled satellite into space. Named LingoSat, the satellite is made from wood of a magnolia tree and is intended to test the suitability of timber as a building material for future space exploration and colonies on the Moon and Mars.

As Kyoto University professor Koji Murata told Reuters, "Wood is more durable in space than on Earth because there's no water or oxygen that would rot or inflame it." (BBC)

Investing is a lifelong journey

Here’s what you can learn today.

Insurance for self-employed Australians

Community Question: How should self-employed Australians approach income protection insurance, and what specific policy features should they prioritise?

We put this question to Phil Thompson, financial adviser and founder of Skye Wealth

For self-employed Australians, income protection insurance is not just an option—it’s a necessity. Unlike salaried employees, the self-employed may not have access to employer-provided benefits like sick leave or workers’ compensation. If illness or injury strikes, losing your income could mean struggling to pay business expenses, personal bills, or even your mortgage. 

Key features to note

✅ Indemnity Cover

• Indemnity Cover – Pays based on your earnings at claim time, which may be lower if your business income drops.

• If your business income fluctuates, it's important to stay in contact with your financial adviser to make sure you are not underinsured or paying for a benefit amount that you will not be able to claim on.

 ✅ Waiting Period

• The shorter the waiting period (e.g., 30 days vs. 90 days), the sooner you receive payments. 

• Self-employed individuals often opt for 30-day waiting periods, as they lack employer-paid leave.

• If you have a financial buffer, you might opt for a longer waiting period to reduce premiums

• Keep in mind some insurers require you to be fully off work to satisfy your waiting period so making client phone calls may deem to be ‘working’ 

✅ Benefit Period

• Some policies only cover a couple of years, while others pay out until retirement age. If you’re self-employed, a longer benefit period is often worth the investment.

• Choose ‘to age 65’ coverage rather than a shorter-term payout (e.g., 2 years) for long-term protection.

✅ Business expense and buy/sell cover

• Some policies allow you to add business expenses insurance, covering fixed costs like rent, utilities, and staff wages while you recover

• If you have a business partner, consider setting up a buy/sell agreement that will trigger the sale of the business to the surviving partner on death or disability as well as setting up insurance policies to fund this agreement. 

Interested in speaking to Phil or being match with another of our hand-picked financial advisers? Fill out the form on our website and we’ll put you in touch.

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