Australia has suffered a major climate setback, losing its bid to host next year’s COP summit in Adelaide. At the same time, the Coalition has reignited Australia’s climate wars by abandoning its commitment to net zero emissions by 2050 – a reversal that resets the political debate just as the world pushes for faster decarbonisation.

In this episode, Rebecca Jones asks Bloomberg’s David Stringer to unpack what the failed COP bid means for Australia’s international standing, how the Coalition’s shift could shape the next election and what renewed climate volatility means for investment, energy transition plans and ultimately your power bill.

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The softer New Zealand dollar means more Australian tourists are flocking across the ditch for holidays and long weekends. Meanwhile, Kiwis are increasingly migrating to Australia to escape their country’s economic weakness.

On this week’s Bloomberg Australia Podcast, Chris Bourke talks with Ainsley Thomson in Wellington about why New Zealand’s currency has weakened, the impact on its tourism industry and why Kiwis are leaving in droves.

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Macquarie’s reputation as Australia’s “millionaires factory” is under strain. The investment giant’s latest profit fell short of expectations, sending its shares sliding and investors questioning whether its golden era is fading. Commodities trading – once the powerhouse of the bank – is losing steam amid regulatory pressure and a calmer market, while leadership faces scrutiny over pay and performance.

Bloomberg’s finance editor Adam Haigh joins Rebecca Jones to unpack what’s gone wrong, where the bright spots remain, and whether CEO Shemara Wikramanayake can steady the ship. Plus, how Macquarie stacks up against Australia’s big four banks in an increasingly competitive lending and investment landscape.

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