Market Reports

• Australian Market Report: Australia’s sharemarket has moved higher after a volatile week. The S&P/ASX200 gained 138.8 points on Friday, up 1.62 per cent to 8731.7, as the broader All Ordinaries improved by 145.4 points, or 1.65 per cent, to 8965..... [more]

• U.S. Market Report: Wall Street's main indexes ​extended their record run on Friday and were headed for weekly and monthly gains as Dell results drove tech shares ‌higher, while investors awaited details on a potential U.S.-Iran deal..... [more]

• European Market Report: European markets closed mixed on Friday, struggling to find support past mid-afternoon. The mood remained cautious with investors assessing the prospects of a U.S.-Iran peace deal.... [more]

• Asian Market Report: Asian stocks rose broadly on Friday, with optimism around the resonant AI trade, strong earnings from Dell Technologies, and reports of a proposed 60-day ceasefire extension between the U.S. and Iran.... [more]

Australian Business News

• Australian retail businesses face “simultaneous attacks on both flanks” as rising costs and weakening demand threatens to smash margins. Deloitte Access Economics partner and principal report author, David Rumbens said.... [more]

• The Australian Prudential Regulation Authority (APRA) has imposed additional license conditions on the firm which acts as trustee for the HUB24 Superannuation Fund. HUB24 recently announced that it had exercised its option to acquire.... [more]

• NAB lifts fixed mortgage rates in a major rate hike sign.... [more]

• Supposedly vulnerable with soaring interest rates and sagging consumer confidence, the non-bank lenders are outperforming the banks by focusing on niche sectors with a careful eye on credit quality..... [more]

• Equity Trustees (EQT) has mounted a strong defence of the outsourced trustee model urging the Government against imposing measures which would constrain their activity in the superannuation market..... [more]

• The Fair Work Commission (FWC) has received an explosion of dismissal claims it says is being driven by applicants using AI. The Commission is on track to receive an unprecedented number of claims this financial year.... [more]

• Plummeting gold price impacts Australian dollar as Iran war pushes it into bear market. Gold is in a bear market after an enormous surge in the price of the precious metal to a record high this year..... [more]

• Marmota uncorks bonanza gold hits in South Australia.... [more]

• Aureka Limited has officially got the drill rods spinning at its historic St Arnaud Comstock gold project in Victoria, wheeling a diamond rig into the old Walkers pit to unlock near-term production potential..... [more]

• Solis Minerals has emerged from the market with a heavily reinforced balance sheet and a clear mandate to drill its flagship Brazil Lithium project after securing firm commitments for a $6 million placement..... [more]

• Disability advocates have joined growing calls for a 25 per cent tax on gas exports, arguing the revenue could help protect Australians on the National Disability Insurance Scheme from cuts to essential supports..... [more]

• Latest on lithium: sure, everyone wants a BYD – but sodium-ion is coming!.... [more]

• Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) earlier this week outlined a major commercial milestone after signing a non-binding term sheet with a leading publicly listed Middle Eastern pharmaceutical company.... [more]

• Electro Optic, DroneShield and newcomer Ktek Aero jump as Trump gov’t eyes US investments.... [more]

• The e-commerce business continues its sales momentum despite challenging backdrop. Kogan’s (ASX.KGN) gross sales are up 13% year on year over the 10 months to April 2026. Solid sales momentum in Australia.... [more]

• A major South Australian winemaker is considering moving his business internationally in response to proposed tax changes. The federal budget included a 30 per cent minimum tax on both discretionary trusts and capital gains..... [more]

• Lendi Group factors AI use into annual performance reviews.... [more]

• The chief executive of accounting firm KPMG, Andrew Yates, has resigned effective immediately after the mishandling of whistleblower allegations..... [more]

• A new telehealth start-up offering prescription-only peptides has taken down its website days after this masthead reported on its founder’s platforming of prominent anti-vaccination conspiracy theorists on his podcast.... [more]

• Officeworks ships hundreds of jobs to India and the Philippines.... [more]

• Opinion/Analysis - Samantha Menzies: Want to invest like Warren Buffett? These 5 golden rules can help you build wealth fast.... [more]

• Opinion - Bec Wilson: The hidden super tools you’re paying for – but probably ignoring. The federal budget on May 12 made superannuation the most compelling place to build wealth in Australia.... [more]

World Business News

• High gas prices pushed up inflation again last month while adding to Americans’ financial strain: Households are saving at the lowest rate in nearly four years, a new report showed Thursday..... [more]

• Rising exports lower US goods trade deficit in April.... [more]

• Trump clears way for corporate tax dodge hidden in the fine print. U.S. companies skirted at least $40 billion in taxes since the beginning of 2025 thanks to schemes in places like Malta, Bermuda and Cyprus..... [more]

• Cryptocurrency exchange Coinbase (COIN.O), and prediction markets platform Kalshi said on Friday they are introducing perpetual crypto futures, marking the first time such instruments will be ​available to U.S. investors.... [more]

• Fitch upgrades Uber rating to A- on diversification gains.... [more]

• Dell’s stunning 30% stock rally is giving a big boost to shares of other server makers. Dell’s blowout earnings report is highlighting how the AI buildout is also driving demand for old-school computing.... [more]

• Automakers stockpile vehicles amid war-shaken supply chains.... [more]

• Costco Wholesale on Thursday said it saw “record-breaking volumes” for gas in its fiscal third quarter amid rising fuel prices. CEO Ron Vachris said the final five weeks of the quarter, which ended May 10.... [more]

• CrowdStrike shares (CRWD) are flying today, up 7.47%, and making new ATH’s at $722.75 after Jefferies substantially increased its price target on the cybersecurity platform leader,.... [more]

• Universal Music ​Group's (UMG.AS), board on Friday unanimously rejected an unsolicited takeover proposal from ‌Bill Ackman's Pershing Square Capital Management (PSHP.L), saying it was not in the best interests of shareholders.... [more]

• Space stocks tumble after a Blue Origin rocket explodes and SpaceX’s valuation gets a reality check.... [more]

• US Space Force awards SpaceX $4.16 billion deal.... [more]

• Sales at Gap ’s largest brand Old Navy fell short of expectations during its fiscal first quarter, leading the retailer to cut its sales guidance on Thursday..... [more]

• Moody’s cuts Bally’s rating on elevated debt from projects.... [more]

• A spin-off deal saved TikTok’s US future. Sen. Ed Markey is questioning if it puts national security at risk.... [more]

• Citadel Securities Reels In Record $4.3 Billion Trading Haul.... [more]

• FIFA's World Cup ticket sales outraged fans. Now they are under investigation. FIFA President Gianni Infantino has had an answer when asked about the sky-high ticket prices for this summer's World Cup.... [more]

• The European Union will unlock 16.4 billion euros (around $19 billion) in funds for Hungary, officials said Friday, after new Prime Minister Péter Magyar enacted rapid reforms to roll back the democratic backsliding.... [more]

• Gazprom Neft says Q1 profit down 3.5% y/y.... [more]

• The Governor of the Bank of England has said that allowing inflation to remain above target levels for a period is “appropriate” in the face of uncertainty and weakness in the economy..... [more]

• Bank of England’s Bailey says no rush to raise interest rates amid Iran war uncertainty. Inflation can be tolerated above 2% target for now ‘given context of softness in real economy’, governor says.... [more]

• Asda has revealed a continued recovery in sales over the past three months as it pushes ahead with its turnaround efforts. It came after the UK’s third-largest grocer struck a deal with Ocado.... [more]

• Mutual retailer triples boss’s pay to £2.2m despite fall in profits. OurCoop criticised by members after withholding annual profit-share payment despite soaring executive pay.... [more]

• Four top UK chefs and restaurant owners have urged the government to cut VAT for restaurants and pubs as they warned working in the hospitality industry was the "hardest it has ever been"..... [more]

• Strikes by drivers on London Underground next week will go ahead, the RMT union has announced, paving the way for more days of transport disruption..... [more]

• Danish pension fund Akademikerpension said on Friday it had placed SpaceX on ​its portfolio exclusion list ahead of ‌the company's initial public offering, citing concerns about the governance structure and what it said was ​an overvalued stock..... [more]

• Humanoid robots 'the future' of car making, says BMW.... [more]

• China’s ambitious urban renewal projects, from upgrading dilapidated homes to rebuilding gas pipelines, are expected to require investment of at least 15 trillion yuan (US$2.2 trillion) in the five years from 2026, offering fresh growth .... [more]

• South Korean semiconductor giant SK Hynix became one of the few companies in the world with a $1 trillion market cap this week, as a global AI boom continues to propel chip stocks to record levels..... [more]

• Wingtech says core of Nexperia China unit now based on mainland, can operate independently. The statement comes amid escalation in the Nexperia conflict, as Wingtech files a lawsuit in China against chip firm.... [more]

• The leakage and lies keeping Indonesia’s rupiah weak. Fake invoices, shell companies and corrupt officials have systematically siphoned nation’s commodity wealth and parked it offshore.... [more]

• Japanese authorities spent 11.7 trillion yen ($73.5 billion) intervening in foreign exchange markets over ​the past month to support the yen, but ‌with only limited effect as the currency hovers near the same levels that prompted Tokyo to act..... [more]

• IndiGo mulls hedging fuel costs after quarterly loss as crude surge hits margins.... [more]

• Opinion - John Authers: When the Pope Says AI Isn’t Infallible. As an indicator of confidence, Leo’s view is too big to ignore. .... [more]