Market Reports

• Australian Market Report: Australia’s sharemarket has wiped most of the week’s gains in two sessions, as a rising greenback and global growth concerns dragged metals prices lower. The S&P/ASX200 fell 82.4 points on Friday, down 0.92 per cent, to 8828.7.... [more]

• U.S. Market Report: Wall Street was closed on observance of Juneteenth. Wall St Week Ahead Investors see Micron earnings as pulse check of AI rally momentum.... [more]

• European Market Report: European stocks closed weak on Friday amid cautious moves by investors due to uncertainty about U.S. and Iran securing a lasting peace truce in the Middle East following the abrupt cancellation of talks between the two nations in Switzerland..... [more]

• Asian Market Report: Asian stocks ended mixed in thin trade on Friday, with markets in mainland China, Hong Kong and Taiwan closed for holidays..... [more]

Australian Business News

• Eyes are on Kevin Warsh's first meeting as Fed chair and any communication changes, including whether the Fed will still provide forward guidance on rates. The recent equity pullback has put a central debate back into focus.... [more]

• Treasurer Jim Chalmers has been accused of showing contempt for Australians as the Coalition claimed more than half of the public submissions about its controversial CGT changes had not been made available to a committee.... [more]

• Auction clearance rates have hit levels not seen since the start of the COVID-19 pandemic, falling below 50 per cent over the past week. The weighted average for auction clearance rates across Australia was 47 per cent..... [more]

• ATO data shows men earn more than women in almost 96% of occupations.... [more]

• One of Australia’s big four banks will introduce Saturday trading hours for nearly 30 branches across the country. On Monday, ANZ announced its plan to extend Saturday trading hours to 27 branches.... [more]

• The Australian Securities and Investments Commission (ASIC) has confirmed active surveillances are underway with respect to private credit across wholesale and retail funds together with multiple enforcement investigations..... [more]

• The once-in-a-century artificial intelligence buildout has sent Nvidia on a three-year run to emerge as the first $5 trillion-plus company based on market capitalization. Yet we think the firm is worth significantly more than that today..... [more]

• BPH Energy (ASX:BPH) is considering lodging an appeal after the Federal Court of Australia delivered its judgment concerning the controversial offshore NSW oil and gas exploration permit PEP11..... [more]

• BHP Group Ltd (LSE:BHP, ASX:BHP) shares saw their largest one-day drop in 14 months on Friday after the miner disclosed a US$2.3 billion write-down tied to its Jansen potash project in Saskatchewan, Canada,.... [more]

• Why workers earning $200,000 a year are getting ready to walk off the job.... [more]

• Alligator Energy has boosted uranium resources at its Samphire project in South Australia by 67% to 30Mlb U3O8 following the definition of a maiden resource estimate for the Plumbush deposit..... [more]

• xReality Group Signs Strategic Defence Partnership with Global Prime Thales Australia.... [more]

• Intuitive Surgical shares (NASDAQ:ISRG) have been testing support around $400, with the price hovering close to 52 week lows, as the stock struggles to find a footing this year. It is a completely different picture when you zoom out.... [more]

• A leader at retail giant Bunnings has taken aim at Victoria’s incoming work-from-home laws, warning the changes could create “structural inequity” in workplaces. The first-of-its-kind legislation, slated to take effect from September 1,.... [more]

• CBA has decided to stick with having separate group CIO and CTO roles, with Victoria Ledda appointed as the permanent CIO following predecessor Gavin Munroe’s departure..... [more]

• A global telco that failed to stop more than 1,000 scam text messages from reaching Australians has faced no consequences, the ABC can reveal. HSBC bank customers were defrauded of tens of millions of dollars.... [more]

• Comment - Kerry Sun: Weekend Wrap: Bulls jump, another BHP blowout and my two cents on SpaceX. Plus: One of my favourite set ups to watch these days, featuring industrial plays..... [more]

• Opinion - Elizabeth Knight: Albanese defuses his tax grenades, but does the backflip go far enough?.... [more]

• Opinion - Vishal Teckchandani: 7 ASX stocks to fire, 7 to hire before 30 June.... [more]

• Comment - Bronwyn Allen: Healthcare shares led the ASX 200 last week. Is a sector comeback underway? ASX 200 healthcare shares are down 39% over 12 months, but have lifted 13% since 3 June..... [more]

World Business News

• Bitcoin rises above $64,000 as traders weigh Iran talks, bullish options bets.... [more]

• Gold prices fell sharply on Friday and were on track for a third weekly loss amid expectations that central banks including the Federal Reserve will raise interest rates to curb inflation..... [more]

• America In Focus: US gas prices dip below $4 and more evidence Americans keep spending. .... [more]

• Americans shopping for a home caught a break this week when mortgage rates edged lower. The average 30-year fixed mortgage rate fell to 6.47% this week, down from 6.52% last week, which was near the year’s high.... [more]

• This bull market isn’t going to end because of Fed rate hikes under Warsh. Warsh may hope the threat of rate hikes is enough. But stocks might gain ground if he does, and past rate-hike cycles can be a guide..... [more]

• AI regulation is a mess, and Anthropic is caught in the crosshairs. Within days of its release, Anthropic’s most sophisticated public AI model was abruptly yanked from customers..... [more]

• Micron’s earnings are a must-watch market event — with profit growth approaching 1,000%. Micron’s massive growth is ‘coming at nearly pure profit,’ and that’s starting to have real implications for the S&P 500.... [more]

• Google cooling initiative could reshape AI data-centre retrofit market.... [more]

• Nike v Adidas - the World Cup brand battle.... [more]

• U.K. Prime Minister Keir Starmer is facing a career-defining decision: step down or fight a possible challenge from Labour Party rival Andy Burnham. Starmer has publicly vowed to stay in office, but pressure is building.... [more]

• Andy Burnham’s government should reverse 40 years of privatisation with a long-term plan to take over failing utilities in administration, issuing “bonds for shares” and setting up state competitors, according to a new blueprint .... [more]

• King Charles will become Britain's first monarch in modern times to reveal his personal tax bill. His tax payments will be shared on Thursday as a new element in the annual royal financial accounts.... [more]

• What to know about the legacy of Brexit, which still divides Britain 10 years on. Ten years ago, the United Kingdom voted to leave the European Union in a referendum that forges political identities to this day.... [more]

• Brexit voting areas have seen faster growth in foreign workers since EU referendum. Guardian investigation also finds same areas experienced relative decline over same period.... [more]

• While the World Scrambles for Oil, China Sits on Full Tanks. The possible reopening of the Strait of Hormuz may not prompt China to return quickly to prewar levels of oil purchases from the Persian Gulf..... [more]

• The lingering energy shock is driving overseas orders for China’s energy storage companies, with more than 25 gigawatt-hours (GWh) of capacity to be built in the US and European countries..... [more]

• What Indonesia’s finance chief really brought back from Beijing. Purbaya secured a Panda Bond deal and $17 billion AIIB pledge, but it’s harder to measure if he restored China’s lost trust.... [more]

• Thailand’s crackdown on a loophole that effectively bypasses its restrictions on land ownership by foreigners is causing prospective buyers to delay purchase decisions on luxury villas in resort destinations such as Phuket.... [more]

• Japan is seeking to rally G7 nations into a united front against China’s export controls on critical minerals, pushing for a floor price mechanism to shore up the economics of producing rare earths within the alliance..... [more]

• Ambani Vows Reliance Will Be ‘Indivisible’ Even After Succession.... [more]

• India's digital connectivity industry is expected to remain a major growth engine, but companies operating in the sector will have to navigate intensifying competition, evolving regulations, cybersecurity threats and.... [more]

• Comment - Mike Allen: New global order: AI CEOs as heads of nation-states. It was a historic, even jarring, scene that captures a once-unimaginable geopolitical ordering..... [more]

• Comment - Heather Stewart: Burnham must be upfront about tax or risk spooking the bond markets. Victory in Makerfield is propelling him towards No 10 but investors expect to know how he will fund his promises.... [more]