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Here’s what you need to know today

• Having already announced a 25% tariff on Indian goods last week, Donald Trump has doubled down, announcing another 25% hike as India refuses to stop importing Russian oil (ABC News). Trump also threatened 100% tariffs on semiconductor imports unless chipmakers commit to manufacturing in the U.S. (Reuters)
  
  

• New tariffs on imports from more than 90 countries took effect yesterday, marking the latest escalation in President Donald Trump’s push to reshape global trade. Few of America’s major trading partners were spared, with the sweeping measures already causing disruption across global supply chains. (AFR)
  
  

• Apple, meanwhile, is playing nice with Washington. CEO Tim Cook was at the White House to announce an $100 billion investment in U.S. manufacturing, the latest in a recent string of announced investments in U.S. manufacturing and infrastructure which now totals more than US$600 billion. Apple’s share price jumped 5.1% on Wednesday. (Bloomberg)
  
  

• After decades of ASX dominance, Australia’s listings market could be in for a shake-up. ASIC is close to approving an application from CBOE to facilitate public listings, meaning Aussie companies may soon have another option for going public. If approved, it would break ASX’s monopoly and bring long-overdue competition to the market. (Guardian). ASX stock price was down over 8% on Thursday.
  
  

• It was a tough day for data centre players. Chip designer AMD shares fell after its data centre revenue missed expectations, while data centre hardware supplier Super Micro Computers dropped a massive 18% after cutting its full-year guidance. While Big Tech continues spending on data centres, investors are watching closely where this spending is going. (Capital Brief)
  
  

• Shares in Warren Buffett’s Berkshire Hathaway have lagged the broader market by one of the widest margins in decades, as his retirement as CEO draws near and some investors begin to exit. Since May 2nd, the last trading day before 94-year-old Buffett announced he would hand the reins to top executive Greg Abel, Berkshire’s Class A shares have fallen 14%. Over the same period, the S&P 500 has climbed 11%. (Financial Times)
  
  

• Australian Venture Capital firm AirTree has secured $650 million from U.S. giants including MetLife and Harvard’s endowment. Interest in the fund which has backed “kangaroo-nicorns” like Canva, signals growing appetite for Australia’s start-up scene from deep-pocketed foreign investors. (AFR)

  
  

• Real estate platform Domain suspended trading on the ASX at the close of trade yesterday, after the Supreme Court approved its $3 billion acquisition by Nasdaq-listed property giant CoStar. Shareholders will receive $4.34 in cash and a special dividend of 8.8 cents per share. The move follows an overwhelming shareholder vote in favour of the takeover on Monday. (Capital Brief)
  
  

• The federal government has thrown more cash at Australia’s critical minerals industry, taking a $50 million stake in Liontown Resources to support the struggling lithium miner amid a downturn in the commodity’s price. (AFR)
  
  

• Thousands of company directors have exited the UK following Labour’s tax changes, with many relocating to more business-friendly jurisdictions. New figures show a nearly 40% jump in resignations. (Financial Times)
  
  

• Italy has officially signed off on a €13.5 billion plan to build the world’s longest suspension bridge, connecting Sicily to the mainland. Decades in the making, the project now looks set to move ahead, with a target completion date of between 2032 and 2033. Transport Minister Matteo Salvini cited studies suggesting the bridge will deliver a major economic boost, creating 120,000 jobs annually and unlocking further investment in roads and infrastructure across southern Italy. (BBC)
  
  

• Enjoy this news roundup? Want to help us write it? We’re hiring to grow the Equity Mates team. Check out the open jobs at equitymates.com/careers

What the…?

Do you find your spending too much time at work helping your colleagues? Take a leaf from Geraldine Jinks’ book and turn yourself into an AI chatbot. Geraldine has worked at the Peterborough City Council in the UK for 35 years and found herself inundated with questions from colleagues.

So, in 2023, the council began developing a tool call Hey Geraldine. The AI was trained by Geraldine on council procedures and was made to emulate her chatty manner. (BBC)

Investing is a lifelong journey

Here’s what you can learn today.

Don’t overlook your life insurance

Community Question: What critical illness or trauma insurance considerations are often overlooked when Australians are setting up their overall insurance protection strategy?

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

Trauma insurance, also known as critical illness cover, provides a lump sum payment if you're diagnosed with a serious medical condition such as cancer, heart attack, or stroke. While it offers significant financial support during medical emergencies, many Australians overlook key considerations when setting up their policies.

Common mistakes & overlooked factors

📌 Not considering future medical inflation – Medical costs have increased significantly over the years, and they are expected to continue rising. A lump sum payout that seems sufficient today may not be adequate in 10-15 years.

📌 Choosing an insufficient benefit amount – Many policyholders underestimate how much they’ll need. A trauma payout should ideally cover:

• Lost income during recovery

• Rehabilitation and ongoing medical treatment

• Lifestyle adjustments if a disability occurs

• Debt repayments (mortgage, personal loans, etc.)

According to ASIC Report 675, many Australians underinsure themselves, often because they rely on default superannuation-linked insurance, which does not include trauma cover (ASIC, REP 675, 2020)

📌 Ignoring policy definitions – Not all insurers define "critical illness" the same way. Some insurers may cover early-stage cancer, while others may only cover late-stage diagnoses. Checking the insurer’s Product Disclosure Statement (PDS) is crucial to understanding what’s covered.

📌 Not reviewing policies regularly – Your financial and health situation changes over time. A trauma policy that suited your needs in your 20s or 30s may be insufficient in your 40s or 50s, particularly as responsibilities (mortgage, family, career stability) increase.

💡 Stat: The Council of Australian Life Insurers (CALI) reports that in 2022, $1.4 billion was paid out in trauma cover claims, compared to higher amounts for other cover types, suggesting a lower uptake of trauma insurance.

Many Australians assume trauma insurance is included in their life or TPD insurance policy when, in reality, it often needs to be purchased separately. Reviewing policies, ensuring adequate cover, and checking definitions can help avoid costly surprises when making a claim.

Want to speak to Phil and the insurance experts at Skye Wealth? Fill out the form on our website and we’ll connect you for a free initial conversation.

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