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Love is not in the Air: Aussie legends sue US pop duo

John Paul Young co-wrote <I>Love is in the Air</I>.

The Australian music legends behind John Paul Young's famed hit Love is in the Air – Harry Vanda and the late George Young – are suing an American electro pop duo and France's national air carrier for allegedly ripping off the song.

ASX to catch Wall St's bullish wave

The S&P/ASX 200 has risen a mere 1 per cent so far this month, lagging behind US markets.

The local sharemarket, which has lagged so far this year, is poised to start the week sharply higher as Wall Street bulls shift into yet a higher gear.

'Inflation the big X-factor'

US interest rates may rise at a faster rate than markets are expecting.

Bond markets are sending signals about the future direction of interest rates that equity investors can't afford to ignore, strategists believe.