Meet BHP’s next boss, RBA splits opinions

Who is Brandon Craig, the next head of mining giant BHP?

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Good morning, it's Chris here in Melbourne. There's a changing of the guard coming at BHP's Collins Street headquarters, but what do we really know about the mining giant's next boss, Brandon Craig? And how might he differ from his predecessor? My colleague Paul-Alain Hunt did some quick digging into Craig's background yesterday. You can read his profile on what we know so far, the challenges ahead - and yes, that time he dressed up as Deadpool. Meantime, there's no good news to report on the fuel front - oil and gas prices surged overnight as the Middle East conflict ramped up. -- Chris Bourke, Melbourne Bureau Chief. What's happening now BHP has chosen Brandon Craig as its next boss, a life-long company man who has spent a quarter of a century there, honing his skills in iron ore and copper. But, just like his predecessor, Craig will have to navigate an industry under pressure to grow — read our profile of the new CEO. European Commission President Ursula von der Leyen will travel to Australia next week to meet with Prime Minister Anthony Albanese. Hopes are high that this visit signals a long-awaited trade deal between the two sides. Ursula von der Leyen Photographer: Simon Wohlfahrt/Bloomberg Fresh from Tuesday's rate hike, economists and traders are at odds over whether the RBA will deliver another increase in May or wait for the fallout from the Iran war. If the RBA were to hike for a third straight meeting with the rate already above 4%, it would be the first time since early 2010, when China unleashed its massive stimulus. A major storm is strengthening off our northern coast, threatening to bring destructive winds and heavy rains as it heads for landfall in the North Queensland mining region later this week. The cyclone is expected to bring heavy rain to a swathe of northern Queensland. Two senior private markets executives at Australia's Future Fund have quit the A$267 billion sovereign wealth fund. David Bluff and Tammi Fisher, who jointly oversaw the fund's real estate, infrastructure, credit, private equity and energy transition portfolios, will leave their roles at the end of this month. Whatever you might think of Kyle Sandilands, there's no denying he's a major force in our media industry. Australia's largest radio network, ARN Media, is now facing a potential legal battle after terminating the shock jock's A$100 million contract. What happened overnight Wall Street remained on edge as an oil surge drove stocks and bonds lower, while Federal Reserve Chair Jerome Powell said uncertainty about the war's impact on inflation made future rate policy harder to forecast. While the US central bank kept its projections for a rate reduction in 2026 and another one in 2027, traders trimmed their bets on a cut this year. Back home, equity futures suggest that the ASX is set for an ugly open. Oil and European natural gas prices surged as Iran carried out an attack on a major LNG site in Qatar, after earlier warnings from Tehran on threats to energy facilities across the Gulf. The Ras Laffan Industrial City in Qatar suffered extensive damage, and the attack represents a further escalation of the conflict. After leaving US interest rates unchanged, Powell emphasized that to resume cuts, officials would have to see progress in reducing inflation, especially goods inflation that has been boosted by tariffs. He also said he has no intention of resigning as a member of the Fed's Board of Governors until an investigation by the Department of Justice is "well and truly over". What to watch Australia jobs data for February released at 11.30 a.m. Sydney time RBA Financial Stability Review also released at 11.30 a.m. One more thing... Have you missed them? After a near four-year hiatus, K-pop megastars BTS are back with a new album, a live-stream deal with Netflix — and a world tour that could rival Taylor Swift's record-breaking $2 billion Eras Tour in earnings. Some 260,000 fans are expected to head to Seoul's Gwanghwamun Square for the free show on March 21. BTS' return could bring a rare burst of holiday-level consumption at a time when domestic demand in South Korea has been fragile. Fans wait to pay for merchandise at a BTS pop-up store in Seoul, in April 2024. AFP NEW: Explore live streaming news and interviews, documentaries, reporter analysis and more, all in one place. Check out Bloomberg.com/videos. Enjoying Australia Briefing? 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