1. Ukraine update: more US sanctions for Russia
President Joe Biden and allies meeting Thursday in Brussels are expected to announce both new sanctions against Russia. Which will involve “not just on adding new sanctions but on ensuring there is joint effort to crack down on evasion,” White House national security adviser Jake Sullivan told reporters on Tuesday. In addition to sanctions, the U.S. and partner nations are expected to announce a new action aimed at “enhancing European energy security and reducing Europe’s dependence on Russian gas,” Sullivan said. Biden will also use the meeting to coordinate potential responses to hypothetical outcomes, including the possible use of weapons of mass destruction or cyber attacks by Russia, Sullivan said.

2. Pessimistic economy hangs over Scott Morrison before upcoming election
Provided next week’s budget numbers don’t significantly resurrect the nation’s confidence, Prime Minister Scott Morrison will head into the election campaign with voters at their most pessimistic before a national poll in 30 years.

“Consumer confidence last week plunged 4.8 per cent to levels last seen during the COVID-19 lockdowns in 2020, and prior to that the global financial crisis between 2008 and 2009,” the AFR reports. Social researcher undertaking polling in marginal electorates, Rebecca Huntley says that this does not necessarily sway in Opposition Leader Anthony Albanese’s favour. “The party that articulates the cleanest and most relatable economic story, where people feel they’ll be slightly better off, and who manages to strategically poke the right economic anxieties, will do well,” she said.

3. Australian War Memorial’s unpopular sponsor
The Australian war Memorial based in Canberra is being urged to stop accepting money from global weapons dealer Lockheed Martin with its sponsorship contract winding up next month. In recent weeks, ex-employees, veterans, historians and academics have written to the AWM urging it to end its association with Lockheed Martin when the current deal concludes next month, saying companies that profit from conflict “have no place in a solemn memorial honouring people killed in the carnage of war”. More than half (59%) of the nationally representative sample either agreed or strongly agreed that the deal should be ceased.

4. Star Casino boss dismisses money laundering report in ‘hostile’ manner
According to the AFR, The Star’s chief executive, Matt Bekier, branded a damning consultants’ report into the casino giant’s failure to tackle money laundering as “wrong” in an audit committee meeting and refused to quiz the report’s authors, who were sitting outside the room, an inquiry has heard. Mr Bekier was “hostile” when meeting with KPMG partners a few weeks later to discuss the supposed errors, and then “essentially berated [them] for an entire meeting” over issues that the consultants said were “surprising”, the inquiry was told. KPMG concluded in its report that The Star did not have “mature” anti-money-laundering checks commensurate with the highly risky nature of the casino business.

5. ASX to rise as tech stocks rebound
ASX futures were up 31 points or 0.4% to 7343 near 7am AEDT, with the AUD +0.9% to 74.68 US cents. On Wall St: Dow +0.7% S&P 500 +1.1% Nasdaq +2%. Brent crude +0.5% to $US116.18 a barrel. 2-year yield: US +0.04% (2.16%) Australia +0.17% (1.54%). 10-year yield: US +0.08% (2.38%) Australia +0.14% (2.71%).