Market Reports

• Australian Market Report: The Australian sharemarket finished the week with a session in the red after drops for computer chipmakers and other winners of the artificial-intelligence boom dragged down stock markets worldwide overnight..... [more]

• U.S. Market Report: Wall ​Street extended its decline on Friday as a pullback on stocks associated with the AI boom, which has driven much ‌of the gains so far this year, morphed into a larger risk-off sentiment..... [more]

• European Market Report: European markets closed mostly weak on Friday, with many of them languishing in negative territory almost right through the day's session..... [more]

• Asian Market Report: Asian stocks fell for a second straight session on Friday amid growing questions about sky-high artificial intelligence-driven valuations.... [more]

Australian Business News

• The construction of 12,000 homes will be fast-tracked as part of a controversial housing development on Queensland's Sunshine Coast. The state government green-lit the Aura South project at Halls Creek south of Caloundra on Friday.... [more]

• ANZ, CBA, NAB, WBC: Where the big banks stand as Australia's property boom fades.... [more]

• Australia’s dividend drought and what income investors should do about it. Falling ETF distributions and shrinking dividend yields have raised concerns that the golden age of Australian income investing is ending..... [more]

• ‘Frustrated’ Gen Z more confident about retirement. Despite reporting the highest levels of frustration with their current financial situation, Generation Z appears to be the most confident age cohort.... [more]

• BHP FY26 scorecard: record iron ore, soft copper guidance – and a dividend surprise brewing.... [more]

• Aguia Resources has delivered its highest gold grades to date from its Santa Barbara project in Colombia, with new channel sampling results returning multi-ounce hits, including a spectacular 128.5 grams per tonne (g/t) gold..... [more]

• ASX-listed Barkly Rare Earths has moved from paddock prep to paydirt potential at the company’s flagship Northern Territory project. The drill rods now turning on a massive 10,000-metre campaign designed to significantly expand.... [more]

• Mount Ridley Mines has uncorked a fresh trading flow after gaining admission to the OTC Markets platform in the US under the ticker ‘MRDMF’, opening the door to the critical minerals-hungry US market..... [more]

• Australia's only manganese alloy smelter has closed, leaving the future of the site uncertain and the country more reliant on imported alloys for steel production..... [more]

• Mineral Resources Shares In Bear Market Territory Following Pullback.... [more]

• Installation rates for household batteries plunged by more than 70 per cent in the wake of changes to tighten a multi-billion-dollar taxpayer-funded subsidy scheme..... [more]

• Firebird Metals banks A$1 million ARENA payment as Perth battery plant advances.... [more]

• Supermarket giant Coles has walked away from a $4bn deal to buy Petbarn’s owner Greencross. In an update before the market opened on Friday, Coles said it had ceased talks with private equity firm TPG Capital .... [more]

• Minister concedes big tech companies using Australian content to train AI models is 'unethical'.... [more]

• REA Group shares (ASX: REA) climbed 6.61% to A$158.71 ahead of the final trading session of the week, even as JP Morgan published a note arguing that a renewed tilt at UK property portal Rightmove would deliver only modest returns.... [more]

• Janus Electric lands further $45m in US orders.... [more]

• Dimerix lands $10m loan for DMX-200 Phase 3 trial, acquires new asset.... [more]

• Full scale of Telstra network outage exposed. Millions of people were knocked offline by Telstra’s mobile network failure last week, chief executive Vicki Brady has revealed.... [more]

• Telstra facing compensation bill of more than $100k.... [more]

• The chief legal officer of scandal-plagued Corporate Travel Management is leaving the company with no replacement named, deepening the crisis for the firm as it fights for survival..... [more]

• Online fraudsters are trying to lure older Australians with fake celebrity endorsements and investment tips in so-called “pump and dump” scams. The number of the scams being reported to the financial regulator has recently soared.... [more]

• Opinion - David Pocock: Anthony Albanese’s AI vision scores high on vibes but the devil will be in the detail. And there is one glaring omission ….... [more]

• Opinion - Zoe O’Neill: We’ve seen this before: Robodebt, the NDIS and the danger of forgetting.... [more]

• Opinion/Analysis - Grace Alvino: Are Macquarie, Qantas, and WiseTech shares buys? There is plenty for investors to consider here, but I still see a buy case for all three..... [more]

World Business News

• US oil firms sign deals with Iraq to develop alternative shipping routes.... [more]

• Retail sales last month rose less than expected.... [more]

• Citizens Bank said it plans to wind down its financial relationship with two private prison companies that have been government contractors under the Trump administration to help run immigration detention centers.... [more]

• The cyclosporiasis outbreak linked to Taco Bell is hitting some restaurant stocks, but don’t expect a long-term impact.... [more]

• Taylor Farms pulls iceberg lettuce, says it's 'deeply concerned' after cyclospora outbreak. Taylor Farms said in a statement onFriday that it is voluntarily removing all iceberg lettuce from central Mexico that was for sale in the US.... [more]

• Apple in early settlement talks with US DOJ over antitrust case.... [more]

• Apple’s stock is beating the S&P 500 by a remarkable degree — and it may have more room to run. Apple was once seen as behind the curve in AI, but now it’s getting more respect for its strategic choices.... [more]

• Elon Musk's SpaceX (SPCX.O), is in talks to provide the ​U.S. Department of Defense with access to data center ‌capacity worth billions of dollars to run AI models..... [more]

• SpaceX stock has cratered nearly 23% since joining the Nasdaq-100.... [more]

• Is SpaceX’s stock a bust because it fell below $135? Look what happened after Meta’s IPO..... [more]

• EchoStar’s stock has fallen alongside SpaceX’s — but it may now be worth another look. EchoStar’s star might be on the rise and worth a fresh look after a volatile stretch, according to analysts..... [more]

• Tesla is launching another vehicle without a steering wheel. On Thursday, the electric automaker released a Tesla-branded, $225, pedal-less bike for toddlers. It's called the Balance Bike for Kids..... [more]

• Netflix reported second-quarter revenue and earnings that were roughly in line with analyst estimates on Thursday as Wall Street is keeping a close eye on the company’s advertising and engagement metrics..... [more]

• Google employees are organizing around a new concern: keeping their jobs. Dozens of Google employees from around the country gathered in the shadow of the company's Mountain View headquarters on Thursday.... [more]

• Lawyers for the 12-state coalition trying to block the Paramount–Warner Bros. Discovery deal argued in court on Friday that a temporary restraining order (TRO) is necessary to stop the companies from completing the merger..... [more]

• EyePoint Pharmaceuticals settles False Claims Act case for $4.7M.... [more]

• The euro zone's seasonally adjusted current ​account surplus widened ‌in May as a rise in primary income, which ​includes items like ​interest, profit or dividend income, ⁠offset a narrowing ​trade surplus,.... [more]

• The European Union has unveiled proposals that would slow cuts to businesses' greenhouse gas emissions limits, as part of a major climate policy overhaul..... [more]

• Bank of England says action needed on gilt repo market regulation.... [more]

• How Burnham’s team could reshape the Bank of England. Taking a fresh look at the Bank’s role would send a strong signal that a Burnham government is prepared to do things differently.... [more]

• Five questions facing Andy Burnham on the UK economy. The new PM can’t afford to be any more daring when it comes to the economy as financial mistakes could be costly, warn experts.... [more]

• Financial firms in Britain are sharpening their focus on employee conduct, with some weeding out staff suspected of misconduct such as harassment and bullying ahead of ​new rules designed to curb an industry lawmakers have called.... [more]

• China has hit out at the nationalisation of British Steel, saying it "firmly opposes and is strongly dissatisfied with the British government's decision"..... [more]

• Energy boss calls for ‘timely consent’ for Rosebank and Jackdaw projects. Adura chief executive Neil McCulloch spoke out as a consultation into developing Rosebank got underway..... [more]

• Volvo Q2 profit rises as truck demand, services outweigh tariff hit.... [more]

• Burberry's Europe sales hit by Iran war while US and China grow.... [more]

• China’s Xi calls for more global efforts to guide AI, chides US for its curbs on tech sharing.... [more]

• Chinese AI start-up Moonshot has unveiled a massive new artificial intelligence model it says can rival top American firms. The company launched Kimi K3, containing 2.8 trillion parameters, which serves as a measure of an AI's scale.... [more]

• China signals possible return of U.S. trade privileges for Hong Kong.... [more]

• Airbus sells 55 aircraft – including 15 widebody A350s – to 2 Chinese airlines. Air China says it will purchase 15 widebody A350-900 jets, while subsidiary Shenzhen Airlines will buy 40 narrowbody A320neo aircraft.... [more]

• Shein has won approval from the Hong Kong stock exchange listing committee for an IPO, three people with ​knowledge of the matter said on Friday, bringing the fast-fashion retailer closer to ‌its much-awaited stock market debut.... [more]

• Inside the Chinese fraud rings stealing billions from banks and retailers.... [more]

• Rupee logs sharpest weekly drop in nine as oil price jump stings.... [more]