Cheaper power bills could be on the cards as the energy regulator reveals a big fall in wholesale prices. However, it will take months before Australians notice a difference. Wholesale electricity prices on the east coast declined in the last year – down 44 per cent in South Australia and 64 per cent in Tasmania. Wholesale costs are one of the main factors which determine how much energy retailers charge their customers. “We’re pleased with the impact of those electricity bill rebates so far, and obviously, we’ll consider a whole range of ideas between now and the May budget,” Treasurer Jim Chalmers said.

MSNBC's Joy Reid was caught on a hot mic using profanity against President Joe Biden during a live broadcast on Monday. The incident occurred while footage of Biden addressing the border crisis was playing, with Reid saying, "Starting another f—king war". Her off-script remark came during a discussion about US military response to a drone strike on a US base in Jordan which killed three American soldiers. Before the hot mic incident, Reid criticised Republican leaders for opposing White House policies and then taking credit for positive outcomes. She then aired the clip of Biden speaking in South Carolina before her mic was promptly cut after the profanity. She later apologised on air for the inappropriate language. "Before we go, I just want to apologise very quickly," she said. "I was chatting during a clip that was playing, and you know, we try to keep this show very PG-13, so I just want to apologise to anyone who was listening to my ‘behind the scenes’ chatter. "I deeply, deeply apologise for that."

The real-life Wolf of Wall Street, Jordan Belfort reveals how he almost died on John Kerry’s wife’s plane during an interview with Sky News Australia host Piers Morgan. Mr Belfort sat down with Sky News Australia host Piers Morgan in a candid interview where he talked about being played by Leonardo DiCaprio in ‘The Wolf of Wall Street’, his time in prison, Donald Trump, Joe Biden and Belfort's past wrongdoings. Mr Belfort told Sky News Australia host Piers Morgan that he crashed John Kerry’s wife’s plane. "I charted that plane … and I think coming back from Saint Martin's many years ago or Saint Thomas and landed in a snowstorm in Farmingdale Long Island," he said. "I crashed a plane".

The election board in the US state of Illinois will keep former President Donald Trump on its primary ballot, overruling a removal recommendation. The board voted 8 to 0 against the submission, ruling it should be up to the court not the board to decide his eligibility. The submission cited the same 14th amendment argument which was the base for Colorado's Supreme Court negative ruling on Mr Trump's eligibility. Donald Trump praised the decision in a post on Truth Social. “Thank you to the Illinois State Board of Elections for ruling 8-0 in protecting the Citizens of our Country from the Radical Left Lunatics who are trying to destroy it,” Mr Trump wrote.

Inflation has fallen to 4.1 per cent from 5.4 per cent in the December quarter. Sky News Business Reporter Edward Boyd says inflation is down a little bit more than anticipated. “The market was pricing in 4.3 per cent for inflation during the calendar year 2023, instead it’s gone down to 4.1 per cent," he said. “So looking on a quarterly basis, inflation during that December quarter increased by 0.6 per cent over that three-month period. "The market was expecting a 0.8 per cent increase in that December quarter so inflation has cooled a little bit more than anticipated."

US President Joe Biden said he’s done “all I can do” to address the crisis at the US-Mexico border. House Speaker Mike Johnson said the President’s claim was “simply not true”. “He’s either lying or misinformed,” Mr Johnson posted on X. Journalist Emily Jashinsky told Sky News Joe Biden could make changes today “with a stroke of a pen”. “He could bring back the remain in Mexico policy,” Ms Jashinsky said.

Australian researchers have revealed a concerning trend when it comes to the presence of vape stores across the country. Almost 9 in 10 stores in Western Australia are selling vape products within walking distance from schools. While the majority of vape stores are heavily concentrated in socio-economically disadvantaged areas. A new survey commissioned by the Australian Association of Convenience Stores shows a 30 per cent increase in vaping amongst adults over the past year. CEO of the Australian Association of Convenience Stores Theo Foukarre says the key to getting control of this “black market” is “regulating vaping products exactly like alcohol and tobacco.” “Make them available through licensed responsible retailors, with strict protocols in place,” Mr Foukarre said.

Animal Justice Party MP Georgie Purcell calls out Nine News’ photoshopped image of her as it “wouldn’t happen to a male politician”. Nine News showed an altered image of Ms Purcell’s body during a segment on Monday night. The news channel has since apologised and blamed the blunder on ‘automation by Photoshop’. Ms Purcell said the situation is a “really good lesson” for those in public life and media that more needs to be done to protect women. “This is something that wouldn’t happen to a male politician,” she told Sky News Australia.

Australian Association of Convenience Stores CEO Theo Foukkare says we only need to look at countries like New Zealand to see a regulated vaping model that works. “New Zealanders have had a 35 per cent decline in smoking rates in the last three years since they introduced the regulated vaping model,” he told Sky News Australia. “Guess what – New Zealand doesn’t have an out of control black market, New Zealand doesn't have an out of control vaping crisis. “And that’s been replicated in the UK, in Canada, in the US and many parts of Europe. “So the primary goal needs to be getting people off smoking and if vaping just so happens to be the thing that’s going to deliver the results, then I think it just needs to be regulated.”

Hamas says it is considering a three-stage ceasefire proposal put forward in mediation talks in Paris. The first stage would include the release of Israeli hostages – mainly women and children – in return for three Palestinian prisoners for every hostage. The second stage would see the release of all IDF soldiers held captive, for a larger number of Palestinian prisoners per hostage. The final stage would be the release of the bodies of Israeli hostages held by Hamas. The proposal includes a six-week pause in fighting. Israeli Prime Minister Benjamin Netanyahu says his forces would not withdraw from the Gaza Strip or free any prisoner.

CommSec’s Craig James says it’s going to be a “fairly watchful” session for the Australian share market ahead of the inflation data being released today. The latest inflation numbers will be revealed at 11:30am AEDT. “I think it’s going to be a fairly watchful session for the Australian share market ahead of the inflation data at 11:30 Sydney time,” Mr James told Sky News Australia. “It has been a watchful session in the United States as well because there’s key earnings results after the bell.” Presented by CommSec.

Power bill relief may be on the horizon for struggling households following the release of new data from the Australian Energy Regulator. Its quarterly report found the cost of producing electricity last year fell between 44 per cent and 64 per cent from record levels seen in 2022, which is now closer to longer-term averages. The decline comes as the global energy crisis subsides and Australia experiences a moderated demand for electricity due to relatively benign weather. As a flow-on effect, it means power bills could finally begin to ease amid the cost-of-living crisis. Australian households and businesses have experienced two consecutive years of price rises of more than 20 per cent.

Israeli forces disguised as medical staff and women have stormed a West Bank hospital, killing three Palestinian militants. CCTV footage has captured the moment the undercover forces entered the Jenin building and ran through the corridors carrying weapons. Hamas has confirmed one of the men killed was a member of a militant Islamist group. Islamic Jihad has confirmed the other two men belonged to its faction. The hospital says one of the men killed was paralysed in his hospital bed and receiving treatment for a shrapnel injury.

Police have dispersed tear gas and fired water cannons at thousands of protestors in Sri Lanka. The unrest comes amid steep tax increase and the economic crisis in the country. Protestors gathered on the streets in response to a sharp uptick in cost-of-living pressures. The economic crisis was spurred on by the nation declaring bankruptcy in 2022. The country's opposition leader joined protestors, rebuking the government for pushing "22 million people into starvation”.

ANZ Chief Economist Richard Yetsenga has discussed the decline in retail sales numbers over December. Retail sales in December fell 2.7 per cent month on month, the biggest fall since August 2020. It follows a revised rise of 1.6 per cent in November 2023 and a fall of 0.2 per cent in October 2023. Mr Yetsenga said the fall in retail sales was attributed to consumers cutting back on discretionary spending as well as a change in consumer behaviour. “There's the forest and there is the trees. The trees are this changed seasonality with November Black Friday sales pulling some sales into November, so we need to kind of abstract from that,” he told Sky News Business Editor Ross Greenwood. “The forest story is spending has been down, it's continuing to trend lower. “It's part of that slower, economic dynamic and consistent with the idea that the banks are trying really hard not to hike anymore, and look, I don’t think they will, I think they're on hold now before we start to see some easing.”

Sky News host James Macpherson says the high-speed rail between Newcastle and Sydney is moving at such a slow pace that “glaciers” move faster. “I want you to imagine, high speed rail between Newcastle and Sydney,” Mr Macpherson said. “Well keep on imagining because there is nothing fast or high speed about the government’s promise to deliver this. “The Albanese government came to office promising to get this project up and going. “But they took, fully, a year to even establish the high-speed rail authority.”

Labor has to acknowledge real wages have actually fallen around $153 per week, says Nationals MP Anne Webster. “What has fed into that are things like energy costs, grocery bills, petrol prices,” Ms Webster told Sky News Australia host Sharri Markson. “There is a range that has been in the Prime Minister’s bailiwick to deal with and he has not dealt with it. “Now the people across Australia, particularly lower and middle income earners, are the ones who are suffering. “He is the one who needs to sort this out.”

Liberal Senator Hollie Hughes says Australia is in a “per capita recession”. Ms Hughes told Sky News host Paul Murray that Australia has been in a per capita recession “for quite a few months”. “It’s only been immigration figures that are boosting those figures out of recession numbers by a hair. “There are still a lot of price impacts to come. “We are going to still see more and more pressures coming onto cost-of-living pressures onto Australian families.”

Sky News host Liz Storer says Elon Musk has announced his company Neuralink has implanted “the first brain chip in a human”. Ms Storer said Elon tweeted about the person recovering well and showing “promising neuron spike detection”. “We’re going to be cyborgs, it’s all just a matter of time," she said. “I mean, imagine being the first person to put your hand up. “He’s always been a very passionate transhumanist.”

It’s the five-year anniversary of the “great hate crime hoax” perpetuated by Actor Jussie Smollett, according to Sky News host Rita Panahi. “A ridiculous fantasy tale that was obviously a lie but was accepted uncritically by the race-baiting US media and US politicians, including Kamala Harris and Joe Biden,” she said. “None of the details added up at all, but the left, including Democrat politicians ... and the media were happy to unleash a race war based on obvious lies.” Mr Smollett had paid two brothers to stage an attack on himself whilst yelling racist and homophobic slurs to replicate a hate crime. In 2021, the disgraced actor was found guilty of staging a racist and homophobic attack in Chicago in January 2019.