MIL Email Publisher – Foreign Submissions

Source: Australian Conservation Foundation

The budget contains at least seven times more spending on initiatives that damage nature and the climate than it allocates to climate and nature protection, the Australian Conservation Foundation said.

“This is a budget of thinly veiled fossil fuel subsidies that redirects public money to coal, oil and gas giants,” said ACF’s national climate policy adviser Annika Reynolds (they/them).

“Australians are left exposed to highly inflationary fossil fuels in our homes, cars and lives.

“While we welcome measures to ensure the longevity of the electric vehicle FBT exemption and the successful cheaper home batteries program, these are modest measures.

“In this moment, Australians are calling for government to tax gas exports fairly and use that money for cost-of-living relief and the restoration of nature.”

Some highlights and lowlights of the federal budget below.

Modest measures to support climate and nature protection

$7.2bn over the forward estimates for the continuation of the Cheaper Home Batteries Program, supporting households to invest in small-scale renewables.

$500m over the forward estimates for the Active Transport Fund, to support the rollout of bike lanes and other infrastructure in partnership with the states and territories.

$40.5m to accelerate the electrification of Australia Post’s delivery fleet.

$1.22bn for Future Made in Australia additional initiatives in clean energy manufacturing and industry to accelerate the transition of Australia’s exports from dirty to clean, with new commitments to support resilient metals production.

$250m for the National Environmental Protection Agency, the new environmental watchdog, over the forward estimates.

$110.8m to continue the Protecting Australia’s Native Species program for two years.

Cuts to climate and nature protection  

$2.2bn has been cut across the Climate Change, the Environment, Energy and Water Department — the most significant cut to government’s climate and environment programs since the Albanese government was elected in 2022.

$153.5m to ‘fast-track approvals with states and territories’ and simplify environmental approvals by using AI — a risky exercise that could see promised nature protection gains trampled in the rush to approve.

“The funding for the new National Environmental Protection Agency is critical to ensure government hits the ground running to get on with the urgent task of improving Australia's woeful record of enforcing national nature protection laws,” said ACF’s national biodiversity policy adviser, Brendan Sydes.

“The investment in Australia’s new environmental watchdog is overshadowed by $153.5 to fast-track approvals and streamline state and territory assessments and approvals.

“There’s no commitment to make sure states and territories strengthen nature protection. If the government is serious about stronger nature protection, it needs to invest in the tools to deliver it — and this budget falls well short.”

Ongoing support for fossil fuel giants

$13.6bn on subsidising liquid fossil fuel use over the forward estimates. The package includes $10.7bn for fuel and synthetic fossil fuel-based fertiliser, prioritising export volumes over food security, climate resilience and environmental sustainability.

$46.2bn over the forward estimates for the notorious Fuel Tax Credit scheme, which allows multinational mining corporations like BHP and Glencore to get their diesel tax-free, encouraging pollution and discouraging innovation.

$1.9bn for the proposed Middle Arm gas precinct in Darwin, which would add millions of tonnes of climate pollution to our atmosphere and facilitate new gas exploitation.

No new tax on Australian gas exports. Gas giants are fuelling the climate crisis while making huge profits –putting lives at risk while leaving Australians to pick up the tab.

The government has resurrected an old proposal to remove community and First Nations consultation rights relating to controversial offshore gas projects.

Source: deVere Group

May 12 2026 – Today's US CPI backs the new chair of the Federal Reserve into a corner on interest rate cuts, warns the CEO of one of the world's largest independent financial advisory organisations.

The warning from Nigel Green of deVere Group comes as fresh inflation data and a geopolitical energy shock collide with a politically charged transition at the Federal Reserve, leaving incoming chair Kevin Warsh with sharply reduced room to manoeuvre on interest rates.

US inflation has accelerated again, with headline CPI rising to around 3.8% year-on-year in April, driven largely by surging energy prices linked to the Iran conflict and disruption through the Strait of Hormuz, which has tightened global oil supply and pushed fuel costs higher.

Core inflation, while lower, remains stuck well above the Fed's 2% target at roughly 2.8%, underscoring persistent price pressure across services.

At the same time, the central bank is already operating in a restrictive stance, with the federal funds rate holding in the 3.50% to 3.75% range.

Markets had previously priced a gradual easing cycle through 2026, but that path has now been sharply reduced as inflation proves stickier than expected and energy shocks filter through the system.

The incoming chair, Kevin Warsh, is widely expected to take office imminently following Senate confirmation, replacing Jerome Powell at a moment of intense policy divergence.

He inherits a central bank caught between slowing growth signals, elevated inflation and direct political pressure from President Donald Trump for lower interest rates.

Trump has repeatedly pushed for faster monetary easing to support growth and reduce borrowing costs, even as Fed officials remain cautious about cutting too early. The tension is now landing directly on Warsh's desk on day one.

Nigel Green says the latest inflation print fundamentally tightens the policy box Warsh is stepping into.

He comments: “This CPI print has boxed the next Fed chair in before he even sits down. Kevin Warsh wants room to reduce rates, but the inflation data simply does not give him that space without credibility risk.”

He adds that the combination of geopolitics and domestic price pressure is now driving a structural constraint on monetary policy.

“This is not a normal situation. You have an oil-driven inflation shock layered on top of already sticky services inflation. This means any aggressive rate cuts would look premature to markets and could easily re-ignite price pressures.”

The deVere CEO says the political dimension is now impossible to separate from monetary policy, with President Trump's public push for lower rates directly colliding with inflation realities.

“Trump is publicly pushing for lower rates, but the Fed is walking into a completely different data environment.

“Warsh is, therefore, being pulled into a triangle of inflation pressure, political demand and market expectations that don't align.”

Recent market pricing reflects that tension. Rate cut expectations for 2026 have been pared back significantly, with traders increasingly betting that the Fed will hold higher for longer unless inflation shows a sustained decline in both headline and core measures.

Bond markets have responded with upward pressure on yields, particularly at the front end, as expectations for near-term easing fade.

Energy remains the key transmission channel. Oil price volatility tied to the Iran conflict has reintroduced a geopolitical inflation premium into global markets, pushing up transport, manufacturing and consumer costs, which has widened the gap between headline inflation and the Fed's target, complicating any policy pivot.

The deVere CEO says Warsh now faces a constrained mandate.

“He's not walking into a neutral environment where he can choose the direction of rates.

“He's walking into an inflation regime that is still active, a political environment that is pushing the opposite way, and a market that is already pricing volatility in both directions.”

He adds that the risk is no longer just policy timing, but policy credibility.

“The danger for the Fed is not whether rates come down this year or next. It's whether markets believe decisions are being driven by data or by pressure. This critical credibility gap is what every central bank fears.”

The implication for investors is a longer period of elevated uncertainty across rates, currencies and risk assets.

Higher-for-longer expectations are feeding into tighter financial conditions, with mortgage costs, corporate refinancing, and equity valuations all adjusting to a less supportive rate environment.

The deVere chief executive concludes: “I suspect that Kevin Warsh is going to be cornered. Inflation is too high to cut aggressively, Trump is pushing for easing, and markets are no longer confident about timing.

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Source: Equinor

12 MAY 2026 – The shuttle tanker Eagle Balder collected cargo number 5,000 from Gullfaks. The oil was delivered to St1’s refinery in Gothenburg.

Oil cargo number 5,000 has been delivered from the Gullfaks field in the North Sea. The milestone demonstrates how continued development of mature fields on the Norwegian continental shelf supports stable energy supply to Europe at a time marked by increasing geopolitical unrest.

“Reaching 5,000 oil cargoes from Gullfaks is the result of long-term efforts to further develop the field. Several mature fields on the Norwegian continental shelf, such as Gullfaks, benefit from well-developed infrastructure and high-quality reservoirs. Through targeted investment and continuous improvement, we continue to increase recovery, extend field life and ensure stable deliveries to our customers in Europe,” says Gunnar Egge, production director for Gullfaks.

When production started in 1986, the field was expected to produce until 2007. Two decades later, weekly oil cargoes are still shipped to the international market, with most volumes going to Europe. In total, Gullfaks has produced around 2.8 billion barrels of oil equivalent – nearly twice as much as originally estimated. The field also serves as an export hub for oil from the Snorre and Visund fields, as well as several subsea developments in the area.

Gullfaks crude is light and low in sulphur, making it well suited for producing high-value products such as gasoline, diesel and jet fuel, as well as LPG and naphtha for the petrochemical industry. Deliveries are made to refineries in Sweden, the UK and Poland, among others, and form part of the daily energy supply supporting transport, industry and society.

The oil is transported by shuttle tankers – specialised vessels with a cargo capacity of around 800,000 barrels of crude oil – providing flexible and reliable transport between the Norwegian continental shelf and European customers.

“Shuttle tankers are the result of close and long-term collaboration between Equinor, shipping companies and maritime specialists. Together, we deliver highly reliable logistics that enable oil to be transported quickly and safely from the Norwegian continental shelf to our customers,” says Heidi Aakre, head of shipping in Equinor.

Oil cargo number 5,000 was delivered to St1’s refinery in Gothenburg, which produces fuels such as gasoline, jet fuel, diesel and marine fuels. These products are distributed through around 1,150 retail sites in Finland, Sweden and Norway. Gullfaks crude is also delivered to refineries in the UK and Poland, and occasionally to Equinor’s own refinery at Mongstad.

The Gullfaks field

Production at Gullfaks started with Gullfaks A in 1986, followed by Gullfaks B in 1988 and Gullfaks C in 1989.
Gullfaks is Norway’s seventh largest oil and gas field when measured by original reserves. The six largest are Troll, Statfjord, Ekofisk, Oseberg, Åsgard and Johan Sverdrup.
Production from the Gullfaks field peaked in 1994. Last year, Gullfaks and associated subsea fields produced just over 17 million barrels of oil.
The Gullfaks platforms are partly powered by electricity from the floating offshore wind farm Hywind Tampen.

Eagle Balder and AET

AET is one of the world’s leading operators of dynamically positioned shuttle tankers and a key logistics partner for Equinor.
Eagle Balder is a modern, Norwegian-registered tanker built in 2020. The vessel is operated by OSM Thome on behalf of owners AET.
It has a cargo capacity of around 128,000 deadweight tonnes and is designed for safe and efficient loading of crude oil directly from fields using dynamic positioning.
The vessel is among the world’s first dual-fuel shuttle tankers, capable of operating on LNG (liquefied natural gas), and is equipped with technology for capturing and reusing volatile organic compounds (VOC) from the cargo.

Naphtha

A light oil product obtained during the refining of crude oil.
Primarily used as feedstock in the petrochemical industry.
An important input in the production of plastics, chemicals and a wide range of everyday products.
Naphtha enables further value creation without combustion of the crude oil.

LPG (liquefied petroleum gas)

Consists mainly of the gases propane and butane, which are separated during crude oil refining.
Used for heating and cooking in households, including gas barbecues.
Also used as an energy source in industry and in some transport solutions.

Source: deVere Group

MAY 11 2026 – UK financial markets are reacting negatively in real time to Prime Minister Keir Starmer's high-stakes “reset” speech on Monday morning, with gilt yields climbing sharply and Sterling weakening as investors assess the growing political crisis engulfing the government following devastating local election losses.

The speech comes at one of the most precarious moments of Starmer's premiership so far, with senior Labour figures openly questioning strategy, authority and direction after the party suffered heavy electoral setbacks that have intensified fears over leadership stability and the future of the government's economic agenda.

Nigel Green, CEO of deVere Group, one of the world's largest independent financial advisory organisations, says: “Financial markets are now treating UK political risk as a major factor driving asset prices.

“The UK 10-year gilt yield surged toward the critical 5% level during the speech, while 30-year gilt yields climbed even more aggressively, signalling deep concern over Britain's long-term fiscal outlook.

“At the same time, the pound weakened against the dollar as traders cut exposure to UK assets and moved toward traditional safe havens.

“This speech was supposed to reset the political narrative after the elections. Instead, financial markets are signalling deep anxiety about where Britain goes from here.

“Investors are looking at a prime minister fighting for his political life after severe election losses while simultaneously trying to convince markets that fiscal discipline remains intact.

“This combination immediately raises the temperature in bond and currency markets.”

The local election results triggered intense political fallout across Westminster, with critics inside and outside Labour arguing that Starmer has failed to reconnect with voters on growth, living standards, immigration and economic confidence.

The political damage has rapidly spilled into financial markets because investors fear prolonged instability could weaken the government's ability to maintain spending restraint at a time when Britain's debt burden remains elevated and borrowing costs are already under pressure globally.

“Bond traders are effectively warning that they want clarity, authority and discipline from Starmer's government.

“Political weakness matters enormously in sovereign debt markets because investors start questioning whether difficult fiscal decisions can still be delivered. Once that process begins, yields move higher very quickly,” notes the deVere CEO.

The reaction in gilts is particularly significant because long-dated UK government bonds are underperforming both US Treasuries and German Bunds, highlighting that investors are attaching a distinct UK-specific political risk premium to British assets.

During the speech, the 10-year gilt yield moved close to the psychologically important 5% threshold, while 30-year yields pushed further above 5.6%, a sign that traders are becoming increasingly nervous about Britain's debt trajectory over the coming years.

The pound also weakened against the dollar, retreating as investors sought safety in the greenback amid wider global volatility linked to geopolitical tensions and surging energy prices.

Nigel Green explains: “Sterling is weakening because international investors are becoming more defensive toward the UK overall.

“The FX market is reflecting concern that Britain could enter a prolonged period of political instability just as inflation risks, higher oil prices and elevated interest rates are already creating a difficult backdrop for economies worldwide.”

The market moves come as investors globally are grappling with the impact of escalating tensions in the Middle East, rising oil prices, persistent inflation pressures and expectations that central banks may need to keep interest rates higher for longer than previously anticipated.

Against that backdrop, the UK now faces the additional challenge of political uncertainty at the top of government.

“Markets are increasingly concerned that if political pressure intensifies further, fiscal policy could loosen as politicians attempt to regain public support after the elections.

“This is exactly the scenario bond investors fear most: rising borrowing, weaker fiscal discipline and political fragility all arriving at the same time.”

The 5% level on the 10-year gilt yield is being watched extremely closely by traders because of comparisons with the turbulence seen during the 2022 gilt crisis following Liz Truss's mini-budget.

Nigel Green comments: “Nobody's arguing this – yet – is a repeat of the Truss 2022 drama. But markets have long memories.

“Investors remember how rapidly confidence deteriorated once doubts emerged over Britain's fiscal direction. Any signs of political instability combined with concerns over spending immediately trigger sensitivity in UK debt markets.”

The deVere CEO says the speed of the market reaction underlines how quickly political events are now transmitted into borrowing costs, currencies and investor sentiment.

Nigel Green adds: “Britain depends heavily on international investors to finance its debt. Global capital does not wait patiently for political problems to be resolved.

“If investors believe instability is rising or fiscal credibility is weakening, they demand higher returns immediately. That is exactly what we are seeing in the gilt market today.”

He concludes: “International investors are scrutinising every signal coming out of Westminster right now.

“Financial markets are looking for authority, stability, fiscal discipline and a coherent economic direction. Doubts on those fronts are being reflected in gilt yields and the pound in real time.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Source: Govtech 4 Impact World Congress

May 7th, Madrid, Spain – At the Govtech 4 Impact World Congress 2026 the first Mayors` Leadership Forum took place where governmental leaders from across Europe and the United States joined forces to define the moonshot for GovTech: starting with citizens in the center, a coordinated, market-shaping approach that positions cities and regions as active market shapers in the global GovTech industry. Together with the Council of European Municipalities and Regions (CEMR), the European Digital Infrastructure Consortium (EDIC) and the European Commission, the result is the GovTech Manifesto and action plan — a shared vision to realize the green, digital and social transformation for cities and regions through GovTech.

The Manifesto focuses on breakthrough interventions to accelerate the GovTech market in which the Digital Transformations supports the societal challenges of citizens and communities. Grasping the full potential of emerging technologies, while safeguarding the public interest. By working on shared solutions for societal challenges and aligning demand through open standards and building capabilities across governance levels, the coalition aims to unlock public purchasing power, shared investment and turn governments from buyers into active market shapers — driving economic growth, climate-positive outcomes and meaningful value for citizens.

“In times of rapid change and growing societal challenges, cities and regions should serve as trusted anchors for their citizens,” says Rian van Dam, one of the leaders behind the Manifesto. “As soon as you thought you know the answer, they change the question. That is why cities & regions must step up — as places where people, nature and democratic values are at the centre of every decision and define the questions of tomorrow.”

The Mayors' Leadership Forum is intentionally built as a focused leadership coalition, bringing together Mayors, city leaders and institutional leaders committed to shaping direction and delivering impact. Rooted in Europe and designed to scale globally, the initiative connects leading cities and institutions with shared instruments — procurement frameworks, funding mechanisms and innovation ecosystems such as European Digital Innovation Hubs and regulatory sandboxes — so that ambition can be translated into implementation.

“This is about building new, old cities for generations to come,” van Dam adds. “Places that learn, listen and adapt, and that take responsibility beyond individual mandates.”

The Manifesto serves as the foundation for a structured Action Plan, built on interconnected building blocks that will be put into action over the coming year, with the first wave of progress to be reported at the next edition of the Forum. Cities, regions and institutions are invited to join as co-shapers of a new GovTech ecosystem. “This is courageous leadership in action,” van Dam concludes. “This is the future the world deserves — starting in Europe and scaling globally.”

“This manifesto outlines the principles to enable the use of technological advances to deliver core services that are both people centred and resource efficient. The outcomes will deliver a better quality of life for our citizens.”

— Tony Dyer
Leader of Bristol

“Europe doesn't need more pilots — it needs shared infrastructures to scale innovation.That's what Granada is building.”

— Vito Episcopo
Deputy Mayor of Granada

“In times of rapid change and growing societal challenges, cities should serve as trusted anchors for their citizens. Smart cities must always serve people first and must be trusted — using technology not for its own sake, but to help us live better, more connected and more sustainable lives with fewer resources. That is why I am proud to contribute to the shaping of this Manifesto.”

— Matjaž Rakovec
Mayor of the City of Kranj, Slovenia

“GovTech 4 Impact demonstrates what is possible when global leaders move beyond dialogue and focus on execution, partnership, and meaningful public impact.

The U.S. Roundtable is proud to help ensure U.S. Mayors are represented at the global table, amplifying their voice while connecting transformative innovation, AI and trusted technology collaboration to the communities and families that need it most.”

— George Burciaga
Managing Partner, The U.S. Roundtable, LLC

“Mayor Shawyn Patterson-Howard is honored to join global leaders at the GovTech 4 Impact World Congress and contribute to shaping a shared GovTech Manifesto. Mount Vernon is also advancing this work through Elevate Gov AI with the U.S. Mayors Roundtable. Across continents and cities of all sizes, we share a common challenge: using technology to make government more efficient, responsive, and impactful. This requires reducing bureaucracy, accelerating innovation, and strengthening cross-sector partnerships to deliver real improvements in quality of life for our residents.”

— Mayor Shawyn Patterson-Howard
Mount Vernon, NY, USA

About the Mayors' Leadership Forum (G4I Madrid 2026) The Mayors' Leadership Forum brings together a select group of mayors, city leaders and institutional partners, in collaboration with European institutions including the European Commission (DG DIGIT), CEMR and EDIC. It marks a shift from dialogue to coordinated execution — aligning demand, capabilities and collaboration across cities and institutions to move from fragmented efforts to a shared system that delivers real impact. Chaired by Rian Van Dam, Mayor of Hollands Kroon, the Netherlands, the Forum brought together:

Jacek Jaśkowiak, Mayor of Poznań, Poland
Mario de Mezzo, Mayor of Slatina, Romania
Predrag Puharić, Deputy Mayor of Sarajevo, Bosnia and Herzegovina
Rian Van Dam, Mayor of Hollands Kroon, the Netherlands
Tony Dyer, Leader of Bristol City Council, UK
Vito Episcopo, Deputy Mayor of Granada, Spain
Shawyn Patterson-Howard, Mayor of Mount Vernon, New York, USA
Matjaž Rakovec, Mayor of Kranj, Slovenia
Jörk Cardeneo, Councillor of Düsseldorf, Germany
José de la Uz Pardos, Mayor of Las Rozas de Madrid, Spain
Angel Niño, Council for Innovation and Entrepreneurship, Madrid City Council
Inmaculada Sanz, Deputy Mayor, Madrid City Council
Fernando de Pablo, Digital Office Director, City of Madrid, Spain
Federica Bordelot, Director Impact & Policy CEMR
Nathan Ducastel, Director VNG, the Netherlands
Jan Wester, Director LDT & Citiverse EDIC
George Burciaga, Managing Partner at the U.S. Roundtable, LLC.

Source: BrentWorks Inc.

CiteSentinel Helps Lawyers File Faster While Avoiding Sanctions and Embarrassment

LOS ANGELES, May 11, 2026 – Legal tech startup BrentWorks Inc. launched CiteSentinel, among the first dedicated platforms built specifically to detect and prevent AI hallucinations in legal citations. The tool scans legal documents and flags case law, statutes, and legal authorities that may be fabricated, misstated, or otherwise erroneous, before they reach a judge.

Courts across the country are increasingly sanctioning attorneys who submit briefs containing invented case citations, a well-documented byproduct of generative AI drafting tools that produce authoritative-sounding, but entirely fictional, legal authority. CiteSentinel was designed to close that verification gap, giving attorneys a fast and easy way to confirm that every citation in a filing corresponds to a real case, a real statute, and a real legal authority.

“The legal profession is learning, in very public ways, that AI doesn't just make mistakes, it confidently lies to your face,” said BrentWorks co-founder Brent Britton. “CiteSentinel is about restoring trust. It lets lawyers move fast with the irresistible efficiencies of generative AI while still filing documents reciting authorities they can stand behind. It also enables them to scan opposing counsel's documents, giving them a competitive edge in the courtroom.”

Many attorneys who do not personally use AI to draft documents are discovering they have a problem anyway. Opposing counsel may have used AI. Co-counsel may have. Contract attorneys and paralegals almost certainly have access to it and may be using it

without disclosing that fact. When a brief containing fabricated citations reaches the court, the question of who drafted it quickly becomes secondary to the question of whose name is on it.

CiteSentinel lets attorneys scan any document, their own, a colleague's, or an adversary's, for citation errors before those errors become their problem. Attorneys who review opposing counsel's filings with CiteSentinel gain an additional advantage: the ability to identify and challenge citations to authorities that simply do not exist.

Today, a lawyer's supervisory obligation includes a question that would have seemed absurd just a few short years ago: Are the cases cited in this brief real or imaginary?

Senior lawyers cannot personally verify every citation in every document produced by everyone under their supervision. CiteSentinel can. At a cost that is modest compared to a single sanctions proceeding or the reputational damage that comes with public embarrassment before a court, CiteSentinel is among the most cost-effective risk management tools available to any law firm, legal department, or solo practice today.

Unlike traditional research platforms that focus on finding more information, CiteSentinel focuses on confirming the law cited in a document is real. Attorneys can scan:

· Their own AI-assisted drafts, before filing

· Submissions from co-counsel, contract attorneys, and support staff

· Opposing counsel's filings, for strategic advantage

· Any document where citation accuracy carries professional or ethical weight

Like a reality check for legal briefs, the tool flags citations that may be hallucinated, misstated, or inaccurately referenced, allowing lawyers to correct errors before courts, clients, or competitors discover them first.

Under mounting deadline pressure, many attorneys now rely on AI-generated research, but verification has not kept pace. CiteSentinel addresses that verification gap head-on, helping lawyers practice faster, more accurately, and with the confidence that their work reflects reality.

BrentWorks was founded by Brent Britton, a veteran technology attorney and MIT-trained engineer, and Brent Hunter, a longtime technologist and AI pioneer. CiteSentinel is the first in a series of products the company will be releasing to elevate the practice of law in the age of AI.

BRENT C.J. BRITTON/CEO

Brent Britton is what happens when law school meets the MIT Media Lab. A veteran engineer, technology attorney licensed in three states (California, New York and Florida), and entrepreneur who literally wrote the book on IP law, Britton has spent his career guiding creators and companies at the frontier of innovation, overseeing billions of dollars of aggregate deal flow in the process. The culmination of his life is re-engineering legal tools to think faster, decide better, and serve humanity at the speed of innovation.

BRENT N. HUNTER/PRESIDENT AND CIO

Brent N. Hunter is a technology pioneer who applied neural networks to finance in 1993. He has since led multimillion-dollar transformation programs for Fortune 500 giants, including GE, Wells Fargo, Disney, and Warner Bros. Discovery. An author, technologist, and systems thinker, he fuses psychology, technology, and leadership into a single mission: to build intelligent systems that serve humanity.

Learn more at https://brentworks.ai/.

Source: AMES

Syrian and Iraqi refugees who came to Australia as a result of the conflict in their homelands are overwhelmingly happy with their lives, feeling safe and optimistic about the future and have become citizens, according to a new survey.

They are also feeling welcome and their children are doing well, according to the survey, commissioned to mark ten years since Australia began accepting Syrian and Iraqi refugees who were fleeing the conflicts sparked by the rise of the militant group ISIS.

But some families and individuals are still struggling with the cost-of-living issues, securing affordable housing and finding jobs that are commensurate with their experience and qualifications.

The survey, commissioned by migrant and refugee settlement agency AMES Australia, found that 67 per cent of respondents said their lives in Australia were either ‘good’ or ‘very good’. Another 16 per cent said their lives were ‘fair’.

Ninety-seven per cent of respondents said they felt ‘very safe’ or ‘safe’ in Australia and 75 per cent said they were optimistic about the future.

Asked how their children were faring, 62 per cent said ‘very well’ and 35 per cent said ‘fairly well’.

Eighty-six per cent of respondents said they felt ‘very welcome’ in Australia and another ten per cent said they felt ‘somewhat welcome’ with 86 percent saying they found it easy to talk to their neighbours.

Seventy-eight per cent of respondents said they had become citizens over the past decade with many others intending to become citizens.

Asked about employment outcomes, 91 per cent of those looking for work had found a job but 25 per cent said it was not commensurate with their skills and experience. Thirty-two per cent of respondents said their jobs were commensurate with their skills and another 43 per cent were ‘mostly’ commensurate.

Ninety per cent of survey respondents said they had a ‘strong’ sense of belonging in Australia and 79 per cent had achieved a high ‘level’ of English.

Safety and security, employment and educational opportunities and healthcare were cited as the best things about living in Australia while cost-of-living, being apart from family and isolation were cited as the worst.

Asked about their biggest challenges or barriers to settling in Australia, 30 percent cited ‘finding fulfilling work’, 28 per cent said ‘housing’ and 25 per cent cited ‘cost-of-living’.

Asked about their ‘goals for the future’, the most common responses were ‘family reunion (35 per cent), ‘finding a better job’ (30 percent), ‘starting a business’ (21 per cent) and ‘owning a home (14 per cent).

Just eleven per cent of respondents said they had been a victim of racism or discrimination.

Asked whether they were optimistic about the future of their homelands, only 16 per cent answered ‘yes’, 36 per cent were unsure and 48 per cent were not optimistic. Just 12 per cent said they would consider returning to live in their homeland.

AMES Australia CEO Melinda Collinson said the survey showed the strength and capacity of Australia’s humanitarian settlement system as well as the resilience of the Syrian and Iraqi communities in Australia.

“The positive outcomes described in the survey are no accident. They are the result of a sophisticated, flexible and well-resourced settlement program and also the work of these communities to support each other,” Ms Collinson said.

“The program allows the needs, barriers and aspirations of individual refugees to be addressed. This means we can work with refugees to build on the strengths and resilience they bring with them to support them to achieve their goals.

“This benefits individuals and families, as well as Australia’s economy and society generally,” she said.

Iraqi doctor Asseel Yako, who fled his home when the militant group ISIS attacked and has since resumed his medical career in Australia says he bulk bills all of his patients as a way of giving back.

“I see this as a small way of giving back to the community and to Australian society for giving my family refuge after we were forced to flee Iraq,” he said.

Syrian refugee Norma Medawar, who arrived in Australia a decade ago fleeing the civil war in her homeland, said she now felt Australia was her home.

“We have a great life in Australia now. We are safe, we have jobs and homes and our children can have bright futures,” said Norma, who recently became a citizen.

“While Syria will always be in my heart, Australia is now my home,” she said.

The survey noted that among the key characteristics of the Syrian conflict intake were that most were Christians.

In terms of education, 47 per cent of Iraqi refugee adults and 42 percent of Syrians had prior tertiary education qualifications.

Source: Commonwealth Bank of Australia (CBA)

The labour market remains resilient to higher interest rates and the Middle East conflict, according to the latest CommBank Wage and Labour Insights report.

11 May 2026 – Key points:

Wages rose 0.8% in the three months to April, with annual wage growth steady at 3.1%

WA and SA recorded the strongest annual wage growth at 3.7%; while TAS recorded the slowest at 2.8%

Around 23,000 jobs were added in April, with the Australian labour market not yet impacted by higher interest rates and the inflationary pulse from the Middle East conflict

The latest CommBank Wage Insights series shows wages growth has continued to remain stable in 2026, reflecting an Australian labour market that’s holding steady in the face of ongoing geopolitical uncertainty.

The series, which draws on de-identified salary data from around 400,000 CBA accounts, shows wages grew by 0.8 per cent in the three months to April 2026, with annual growth steady at 3.1 per cent.

CommBank Economist Harry Ottley said the stability of the data wasn’t surprising, with the effects of rising interest rates or the Middle East conflict yet to flow through to CBA’s wages growth data.

“CBA Wage Insights showed wages growth remained stable in April, consistent with the broader labour market: the trend unemployment rate has held at 4.3% since July 2025,” Ottley said.

“As wages growth typically lags labour market and economic conditions, it is not surprising that higher interest rates and the Middle East conflict have not yet flowed through our data.

“While economic growth is expected to slow this year, current wages growth forecasts could still be surpassed. Workers could seek higher wages in response to inflation pressure.

“At the same time, remuneration agreed through enterprise bargaining agreements remains elevated and the Fair Work Commission is likely to deliver a bigger increase to minimum and award wages this year than it did in 2025.

“Any upward pressure should be evident in CBA Wage Insights before the official ABS data.”

South Australia leads the pack in wages growth

By state, at 3.7 per cent South Australia recoded the fastest pace of wage growth, joining Western Australia in the top position for the first time since 2019. Wages growth in South Australia is responding to outperformance in the broader economy, with the unemployment rate the lowest in the country and economic growth the strongest.

Western Australia maintained its highest or equal highest wages growth ranking in April, a position the state has held since late 2024. The state recorded wages growth of 3.7 per cent, a slight drop from March.

Wages in the Northern Territory have risen strongly in recent months, with growth the third highest in the country at 3.5 per cent. In New South Wales, Victoria and Queensland, wages growth has been broadly stable in 2026, sitting at 3.2 per cent, 3.0 per cent and 3.3 per cent respectively. Tasmania recorded the slowest wages growth at just 2.8 per cent.  

Broader measures of wage growth remain stable

CBA Wage Insights has also now examined a broader measure of wage growth to assess whether other indicators point to trends not captured in headline Wage Insights series, which is designed to emulate the ABS Wage Price Index.

One such measure, Compensation of Employees (COE), reflects total wages paid across the economy. It does not adjust for changes in hours worked, bonuses or shifts in the composition of jobs.

The COE measure has also remained relatively steady, but has edged higher since mid-2025.

Ottley said the data supports the view that Australia’s labour market remains stable and has not yet shown a clear wage response to inflation.

“This reinforces our assessment that the labour market is broadly stable, and still slightly tighter than what is considered full employment,” Ottley said.

“We will continue to monitor the data closely over the coming months and quarters for any signs that wages begin to respond to inflation, particularly from an economy running above its speed limit and from the Middle East conflict.”

Employment growth holds steady in April

The CommBank Labour Insights series shows employment growth remains steady, with an estimated 23,000 jobs added in April, the same as March.  

Ottley said that while the data points to stable conditions, employment growth is a lagging indicator, with employment growth expected to soften through the second half of 2026.

“The labour market remains resilient to higher interest rates and the Middle East conflict at this early stage,” Ottley said.

“The unemployment rate sits at 4.3% and at this rate we still judge the labour market is on the tight side.

“Employment growth is likely to slow this year as the broader economy weakness.  

“Indeed, the RBA is relying on the labour market loosening to bring the economy into balance. There are no signs of this to date.”  

Source: Marks on Sparks

Modern art disruptor, street and adventure artist Anthony Lister, will make a long-awaited return from tomorrow 12 May at 12noon for a new exhibition entitled 'Circus of Life' which will run from 12 May until Sunday 17 May 2026 at 165 Oxford Street, Darlinghurst, with an exclusive VIP event to follow the next night at 6pm Wednesday 13 May.

One of Australia's most heralded inner city street artists, Lister has made a mark globally, exhibiting in the artistic Mecca's of the world: New York, Japan, London.

Says Lister, “This isn't just an art exhibition – it's a return from exile. After watching the physical world get swallowed by screens, exhibiting again feels like reclaiming territory.”

“It's about putting something real, tactile, and undeniable back into a culture that's become increasingly intangible. This show is less a comeback and more a correction.”

The theme of the exhibition is media, vanity, and collapse.

“I've placed myself on the covers of magazines – not as a celebration, but as a disruption. It's me inserting myself into a system that manufactures identity and calling out its absurdity from within,” he said.  

“Where I am now as an artist is somewhere between reflection and resistance. I'm not chasing relevance – I'm interrogating it. This work sits in that tension: between ego and critique, visibility and distortion, beauty, and something far less comfortable.”

For Lister, each piece that will feature in 'Circus of Life' had to hold tension.

“If it was too comfortable, it didn't make the cut. If it didn't challenge the viewer – or me – it wasn't strong enough,” he said.

“Together, the works operate like a magazine that's slightly unhinged – familiar on the surface, but fractured underneath.”

The exhibition will offer collectors a rare opportunity to acquire a limited selection of some of Lister's works.

'Circus of Life' will run from 12-17 May from 10am to 8pm with an exclusive VIP event to occur at 6pm on 13 May 2026 by invitation only.

www.anthonylister.com
www.listerdangerzone.com

Source: deVere Group

Mounting pressure on UK Prime Minister Sir Keir Starmer threatens to rattle financial markets, hit the pound, and reignite investor fears over Britain's political and fiscal stability, warns the CEO of deVere Group, one of the world's largest independent financial advisory and asset management organisations.

The warning from Nigel Green comes after Labour MP Catherine West dramatically declared she would attempt to trigger a leadership contest against Starmer if no cabinet minister steps forward by Monday to challenge him, following devastating local election results for the governing party.

Her intervention has detonated speculation inside Westminster over Starmer's grip on power and raised the prospect of a destabilising internal struggle at the heart of government just months after Labour returned to office.

Nigel Green says markets are unlikely to dismiss the developments as mere political noise if the rebellion gathers momentum.

“Financial markets can tolerate unpopular governments. They can tolerate weak poll numbers. What they struggle with is uncertainty over leadership, economic direction and fiscal discipline.

“Sterling and UK government bonds, or gilts, become vulnerable the moment investors sense control is slipping.”

West has reportedly secured the backing of around 10 Labour MPs prepared to support a leadership challenge, still far short of the 81 required to formally trigger a contest.

However, investors are acutely aware political crises can escalate rapidly once public dissent emerges inside governing parties.

The concern for markets is not Catherine West herself, but what her intervention potentially signals: fractures opening inside a government that has worked hard to present itself as stable, disciplined and economically credible.

Under Starmer and Chancellor Rachel Reeves, Labour has carefully cultivated market confidence by projecting fiscal restraint, avoiding radical spending promises, and maintaining a comparatively business-friendly stance.

Any threat to that framework risks provoking immediate market reactions.

“The current leadership has spent considerable political capital convincing investors Britain has moved away from the instability and fiscal recklessness associated with previous crises,” explains the deVere chief executive.

“If investors begin to fear a leadership vacuum, ideological infighting or a shift toward looser spending policies, markets could react fast and aggressively.”

Currency traders would likely move first.

“Sterling is highly sensitive to political credibility because the UK runs persistent deficits and depends heavily on international capital flows. Political instability can rapidly undermine confidence in British assets.”

Analysts say the pound could come under pressure against the dollar, Swiss franc and Japanese yen if leadership uncertainty intensifies during the coming days.

UK government bonds are also exposed.

Previous bouts of speculation surrounding Starmer and Reeves triggered weakness in gilts as investors worried about the possibility of alternative leadership teams pursuing more interventionist or less disciplined economic policies.

Markets remain deeply scarred by the fallout from the September 2022 Liz Truss mini-budget crisis, when a collapse in investor confidence sent borrowing costs soaring and forced emergency intervention from the Bank of England.

“Britain remains unusually vulnerable to political credibility shocks because investors remember exactly how quickly confidence evaporated during the Truss budget crisis,” says Nigel Green.

“Bond traders are now almost conditioned to react swiftly to any sign fiscal discipline could weaken.”

Attention is already turning toward possible successors.

Health Secretary Wes Streeting, Deputy Prime Minister Angela Rayner and Greater Manchester Mayor Andy Burnham are all being discussed as potential contenders should pressure on Starmer intensify further.

Some investors may view candidates perceived as more left-leaning with caution, “particularly if markets begin to anticipate higher borrowing, heavier taxation or increased state intervention in the economy.”

At the same time, a failed rebellion that collapses quickly could ultimately strengthen Starmer by demonstrating he still commands overwhelming support inside Labour.

Cabinet Office Minister Nick Thomas-Symonds has already publicly warned colleagues against destabilising the government through leadership speculation.

For now, investors are watching Westminster with growing unease.

“The political risk premium attached to UK assets has fallen significantly since Labour entered government,” notes Nigel Green.

But, he concludes, political stability is fragile.

“Once doubts emerge over leadership and economic continuity, markets do not wait politely for Westminster to resolve itself.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.