That’s a wrap – thank you for reading the Need to Know blog today. These were some of the main stories:

• Australia backs Ukraine leader after Trump attack: Australia is standing firm by Ukraine after Donald Trump’s attack on its leader, rejecting the US president’s criticism that Volodymyr Zelensky is a dictator.

• Labor to invest $2.4b in Whyalla steelworks: Prime Minister Anthony Albanese said the federal and state governments would invest $2.4 billion to rescue the Whyalla steelworks.

• ASX governance council kills off plans to update rules: As reported exclusively in The Australian Financial Review today, the ASX Corporate Governance Council has killed off plans to update the governance rules for listed companies including controversial reporting on diversity.

• FWC ruling means Labor won’t be held hostage: NSW Premier Chris Minns and Transport Minister John Graham have addressed the media after Sydney Trains won a suspension until July of rail unions’ industrial action.

• Up to 6500 Victorian government jobs could go amid snap review: The Victorian government has announced a review into the public service wage bill after revelations up to 6500 jobs could be cut in the upcoming state budget.

• Too much hope put in ‘GFG realising its own ambitions’: Peter Malinauskas admitted he could be guilty of putting too much hope in “GFG realising its own ambitions”, but no taxpayer money was ever at risk.

• J.D. Vance warns Ukraine’s Zelensky about ‘badmouthing’ Trump: In the midst of escalating tensions between US President Donald Trump and Ukrainian President Volodymyr Zelensky about the US administration’s push to end the Russia-Ukraine war, the US vice president is suggesting the Ukrainian leader knock it off.