Australia news LIVE: Housing shortages could cost nation $25 billion a year; Crown Sydney wins conditional licence for Barangaroo casino; energy market suspension to be lifted

And that’s it for today. Thanks for reading our live news coverage. If you’ve just tuned in, here are some highlights:

• Treasurer Jim Chalmers is striking a positive tone on the economy, despite high inflation and stagnant wage growth. He says the nation has a promising future and there are good reasons to be optimistic. Meanwhile, US Federal Reserve Chair Jerome Powell said a recession in the US is a possibility and orchestrating a soft landing for the US economy would be “very challenging”.
• The earthquake that shook Afghanistan has now killed more than 1000 people, wiping out entire families who were sleeping inside their homes when the quake struck in the middle of the night.
• NSW Premier Dominic Perrottet has ordered a review into the controversial appointment of John Barilaro as a New York-based trade commissioner – a position Barilaro created while he was deputy premier. Perrottet has promised to make the review’s findings public. Meanwhile, four of the Victorian government’s most senior ministers will retire from politics at the state election in November, forcing a major rethink of Labor’s leadership team.
• Prosecutors have asked Network 10 journalist Lisa Wilkinson for a written undertaking she will not comment further about Brittany Higgins or an allegation the former political staffer was raped, as a judge delayed the trial and set the new date for October 4.
• Education Minister Jason Clare says fixing a teacher shortage is high on his agenda. He said the shortage was getting worse due to a colder-than-normal winter, fewer young people entering the teaching profession and baby boomer teachers retiring soon.
• Chief Medical Officer Professor Paul Kelly has called on Australians of all ages to spread the word about the health dangers of e-cigarettes. A new report has found the vapour from e-cigarette devices can be harmful and there is limited evidence that e-cigarettes are effective at helping smokers quit.

We’ll be back again tomorrow morning. Have a good evening.

The lower house of Victoria’s Parliament has passed a Bill to create a key piece of architecture to assist the shared journey towards a treaty – with just a single MP voting against it.

Co-chair of the First Peoples’ Assembly of Victoria, Bangerang and Wiradjuri Elder Aunty Geraldine Atkinson, said the overwhelming display of unity showed that a treaty was above party politics.

“We’ve got a long journey ahead of us, but it’s great to see people in Victoria are willing to walk with us as ultimately this is about creating a better future together,” said Atkinson.

The legislation, which now goes to the upper house – where it is also expected to pass without amendment – will facilitate an agreement signed earlier this month between the government and the First Peoples’ Assembly to establish an independent treaty “umpire” that will sit outside the usual government bureaucracy and be led entirely by First Nations people.

The Australian sharemarket edged 0.3 per cent higher today thanks to strong real estate and health care stocks, but was held back by falls in the energy and mining sectors.

The S&P/ASX 200 settled after an early high to close at 6528.4 points, 19.9 points higher than yesterday. However, energy stocks followed oil prices lower, declining by 2.1 per cent as recession fears weighed on commodities. Woodside dropped by 2.6 per cent while Santos was down 2 per cent.

Falls in iron ore prices before trade began also hurt the mining sector, with BHP, Rio Tinto and Fortescue all falling slightly. However, all other sectors were slightly higher, with real estate stocks up 2.3 per cent.

Read more here.

Treasurer Jim Chalmers has rejected suggestions the federal government has been delivering an economic “shit sandwich” as signs of growing inflation is forcing consumers to cut spending on necessities and occasional treats.

As the nation’s second-largest lender warned home buyers to expect a near 2 percentage point hike in interest rates by early next year and businesses reported growing wage and cost pressures, Chalmers used an address to Treasury staff to talk up the nation’s economic prospects.

An optimist: Treasurer Jim Chalmers. Credit: Alex Ellinghausen

Chalmers said that although the country had high and rising inflation, rising interest rates, falling real wages, long-term pressures around productivity and large government debt, the future was not completely bleak.

“The commentators and the cartoonists, in particular, I’ve noticed, have taken to describing this economic situation that we’re dealing with now – if you’ll pardon the language – as a bit of a shit sandwich,” he told staff in Canberra this afternoon. “But I don’t really see the situation that we have inherited ... the same way that the commentators and the cartoonists see it.”

A NAB survey of more than 2000 people found one in two are switching to cheaper brands, turning off electrical appliances and lights or making fewer car trips to save petrol. People are also cancelling or reducing spending on food delivery, entertainment, lunches, apps and gym memberships.

Westpac now predicts the Reserve Bank will take the cash rate to 2.6 per cent by February next year.

Read more here.

The supplier of a rapid COVID-19 test sold in Woolworths and Coles has rejected allegations it did not provide data to support the performance of its tests and its poor customer service after the medicines regulator slapped it with a $106,560 fine.

Hough Pharma, which makes the tests supplied at major retailers, was given the infringement notices over allegations it did not provide evidence to the Therapeutic Goods Administration (TGA) when requested about the safety and performance of three rapid tests.

The regulator has warned rapid COVID-19 test kit suppliers to take their obligations on data and customer service seriously.Credit: iStock

The TGA also claims that despite being required to have telephone and online customer service operators available seven days per week between 9.00am and 7.00pm, the company was found to have a lack of customer support.

“This compliance action serves as a reminder to companies to take their obligations seriously,” the TGA said in a statement.

However, the Hough Pharma tests remain approved for sale and will still be available in the Australian market.

Read more here.

Bubs Australia is preparing to have a third and fourth US-issued plane to airlift 180,000 tins of its infant formula across the Pacific Ocean in coming weeks, while rival A2 Milk waits for its application to be approved by the US authorities.

The Biden administration, which has already airlifted two planes full of the goat milk formula, will issue another two to pick up a total of 180,465 tins of Bubs’ product in two batches. The first plane will touch down in Los Angeles on June 26 and the second plane will arrive at Philadelphia on July 5.

Bubs founder Kristy Carr.Credit: James Brickwood

The 180,000 tins are part of the 1.25 million tins initially announced by Bubs late last month and form Amercia’s ninth ‘Operation Fly Formula’ mission as President Joe Biden strikes deals with several global manufacturers to patch its baby formula shortage.

Click here to read the full story.

Climate activists from Blockade Australia are planning a week of protests in Sydney next week, and the group has urged people to join in.

The group, which earlier this year shut down ports and bridges, was raided by NSW Police on the weekend and several members were arrested.

Blockade Australia spokeswoman Zelda Grimshaw said it was “absurd police overreach” and paraphrased Martin Luther King when explaining why the action is necessary.

“When climate destruction becomes law, resistance becomes duty,” she said.

Maxim Curmi, Sharon Hodge and Emma Dorge are among the Blockade protesters charged by police this year.Credit: Blockade Australia

“It feels a bit like when you’re running towards a burning building to save your children and the police tackle you to the ground and then charge you with assaulting police. But that burning building is our planet.”

Police have pledged to target the activists who take part in “unauthorised protests” across Sydney.

They say a “highly visible police operation” will commence on Monday to prevent the protests and “limit the impact on the broader community”.

“It is clear from our investigations so far that this group remains intent on causing significant disruptions next week to motorists and members of the public through reckless and dangerous activities,” Acting Assistant Commissioner Paul Dunstan said.

“It is incredibly disappointing that they want to cause this inconvenience to good people who are just going about their business, especially given the hard times many have gone through in recent years due to the pandemic.”

Grimshaw said the public should support the campaign to force stronger action on climate change.

“All of us have a role to play in preventing further climate destruction,” she said. “Don't be that person stuck in that car. Be that person standing with us to prevent climate destruction.”

Grimshaw said she is expecting a large turnout and hopes up to 10,000 people join the protests.

“To the NSW police who are watching today … I would say, mate, size and slugs don’t follow orders. And I suggest you don’t either. We want you to break ranks. We want you to come and stand with us. It’s your planet to go and do something that’ll make your grandchildren proud.”

Deputy Premier and Police Minister Paul Toole said anyone participating in these protests has no respect for their fellow citizens.

“This isn’t peaceful protesting. These are people pulling stunts that put lives at risk and stop people trying to get work and get their kids to school and police simply won’t tolerate it,” Toole said.

Representatives from activist group Blockade Australia are holding a press conference at 2.30pm AEST. They will address comments made by NSW Police about authorities' plans to prevent climate protests scheduled for next week. Watch below:

At least four people have been injured in a stabbing attack in Auckland’s North Shore.

Police say the attack was random, and four members of the public have moderate injuries.

Police cordon off the area after multiple people were stabbed in Auckland.Credit: Chris McKeen/Stuff

One person is in custody, police said.

They paid credit to passersby who responded with “extreme bravery” in bringing an end to the attack.

Police said the attack was not a hate crime but Superintendent Naila Hassan said it was “an extremely fast-moving incident”.

Read more here.

Stuff.co.nz.

That’s it from me today, so I will hand you over to Josh Dye, who will lead the blog for the rest of the day.

Thanks so much for all the comments and interactions. I look forward to seeing you all again when I’m back on the blog next week.

Bye for now.