1. US President speaks on Ukraine invasion risk
US President Joe Biden has said the threat of Russia invading Ukraine is very much a reality and that it has not verified Moscow’s claims that it has withdrawn a number of its forces from the contentious border. Rather, many units remain in a “threatening position,” said Biden. “We should give the diplomacy every chance to succeed, and I believe there are real ways to address our respective security concerns,” the President went on to say. “To the citizens of Russia: You are not our enemy. And I do not believe you want a bloody, destructive war against Ukraine.”

2. Ardern faces new sheriff in town
New Zealand Prime Minister Jacinta Ardern has some stiff competition with political newcomer Christopher Luxon who is leading the opposition National Party. Luxon’s background is more corporate than political, with his resume boasting a senior executive role at Unilever and as former CEO of Air New Zealand. He “embodies many of the traditional, conservative values of his National Party … [and] wants to lead a government that is pro-business and plans to tackle the nation’s chronically poor productivity. He would remove employment from the central bank’s dual mandate so that it focuses solely on inflation at a time when spiraling prices are creating a ‘cost of living crisis,’” Bloomberg reports.

3. Prince Andrew settles sex abuse lawsuit
Britain’s Prince Andrew has settled a New York federal lawsuit that accused him of sexually assaulting a leading accuser of his friend Jeffrey Epstein when she was underage. Virginia Giuffre claims in her suit that Andrew, a son of Queen Elizabeth II, abused her in various locations after she was directed to have sex with him by Epstein and Ghislaine Maxwell. The value of the settlement is not disclosed.

4. Permanent long weekend for Belgian workers
According to the AFR, Belgian employees won the right to perform a full work week in four days instead of the usual five without loss of salary, part of an agreement that aims to make Belgium’s notoriously rigid labour market more flexible. “The goal is to give people and companies more freedom to arrange their work time,” Prime Minister Alexander De Croo said on Tuesday in Brussels. “If you compare our country with others, you’ll often see we’re far less dynamic.” Employers may still turn down employees’ requests for a condensed work week, on condition they explain their refusal in writing.

5. ASX to rebound from recent losses
ASX futures up 44 points or 0.6% to 7147 near 5.11am AEDT, with the AUD +0.3% to 71.47 US cents. On Wall St: Dow +0.9% S&P 500 +1.2% Nasdaq +1.4 %. 2-year yield: US -0.01% (1.57%) Australia +0.06% (1.17%). 10-year yield: US +0.05% (2.04%) Australia 0.05% (2.18%).