Market Reports

• Australian Market Report: The Australian sharemarket finished lower on Thursday after speculation the Federal Reserve would hike interest rates this year to battle inflation in the world’s largest economy weighed on prices for metals.... [more]

• U.S. Market Report: U.S. stocks rebounded on Thursday with ​semiconductor shares leading gains as optimism about a Middle East peace deal offset worries about a hawkish Federal Reserve under ‌new Chair Kevin Warsh..... [more]

• European Market Report: European stocks closed broadly lower on Thursday as concerns about interest rates following the Federal Reserve's hawkish tone rendered the mood bearish..... [more]

• Asian Market Report: Asian stocks ended mixed on Thursday, with Japanese and South Korean markets reaching fresh records on signs of easing geopolitical tensions and investor enthusiasm for artificial intelligence..... [more]

Australian Business News

• Australians have been warned they will face tough cost-of-living pressures for at least another two years. The RBA has forecast inflation to remain above its target level of 2-3 per cent until 2028..... [more]

• All of Australia’s 2.7m small businesses will receive “generous” exemptions from capital gains tax, as Anthony Albanese flagged startups and testamentary trusts would be carved out of the government’s contentious tax reforms..... [more]

• Property loans have been the biggest driver of small and medium-sized business borrowing from banks, accounting for almost half of the sector’s total credit over the past five years, according to an Australian Banking Association report..... [more]

• Australians are increasingly cramming into multi-generational households, staying at home longer and putting off having children as housing affordability and cost of living pressures leave many “disillusioned”..... [more]

• UBS is telling clients to stay out of banks, REITs and retailers and to keep their money in miners and industrials, betting that a stagflationary economy and a central bank stuck on hold.... [more]

• Australia has a new richest suburb - with Sydney being usurped by a rival Victorian suburb, according to new data from the taxation office. In its latest update, the Australian Taxation Office (ATO) revealed that Portsea.... [more]

• Ironbark Investment Solutions, which holds more than $68 billion in funds under management, has partnered with European buyout giant EQT to offer a new infrastructure fund for Australian and New Zealand investors..... [more]

• By almost any measure, Forrestania Resources’ transformation from a small-cap explorer into a major emerging gold producer with a sprawling multi-hub footprint across Western Australia’s premier mining belts in barely three years .... [more]

• Woodside Energy Shares 20% off Highs: Healthy Correction, or Bear Phase?.... [more]

• True North Copper has consolidated the groundholding at its flagship Cloncurry copper project in northwest Queensland, securing the adjacent Mongoose resource after Glencore opted not to exercise its right of first refusal..... [more]

• Acrow raises $70M for dual acquisitions and balance sheet boost.... [more]

• Renegade Exploration Ltd (ASX:RNX) has completed the divestment of its approximately 22% interest in the Carpentaria Joint Venture (CJV) to True North Copper Ltd (ASX:TNC), in a transaction valued at $2.88 million..... [more]

• Aguia Resources has hit the ground running with sales of its Pampafós organic phosphate product, notching up sales of an impressive $A600,000 in the first two weeks since kicking off mining at its Tres Estrades project in Brazil..... [more]

• Aureka has added more ounces to its Victorian gold story after lifting its global inferred JORC resource 26 per cent to 454,800 ounces, driven by a strong upgrade at its flagship Irvine project.... [more]

• Power Minerals has secured a $1.7m strategic investment from an international specialist resources fund as drilling and technical work ramps up at its Morro do Ferro rare earths project in Brazil..... [more]

• An audit of Australia's most ambitious renewable energy project has found that despite a reset in 2023, there are still "significant deficiencies" in how Snowy 2.0 is being managed..... [more]

• Energy industry voices are warning that the business case for Marinus Link appears increasingly unviable if power-hungry players such as AI data centres continue to expand across Tasmania..... [more]

• ASX share undervalued as margins expected to rebound. We transfer coverage of Ansell (ASX.ANN), a leading supplier of protective gloves in healthcare and industrial settings..... [more]

• Opinion - Tim Duggan: Australia is crying out for more tradies. Why aren’t young people answering? All around the world, young people are hedging their bets on tangible skills they can hold on to in an unpredictable future..... [more]

• Opinion - Robert Monterosso: How Australia could become a regional energy superpower.... [more]

• Opinion - Sebastian Bowen: Here's why I'd add Alphabet shares to an ASX stock portfolio right now Why not add this world-class company to your portfolio?.... [more]

World Business News

• Oil prices turn mixed, but headed for big weekly decline on U.S.-Iran peace deal.... [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 is one issue in the Iran deal that critics may be missing and that investors should understand.... [more]

• Large U.S. banks on Thursday formally pitched the ​central bank on tweaks to a regulatory proposal aimed at reducing funds they must set aside to absorb potential losses, as the central bank enters the last leg of ‌a marathon overhaul .... [more]

• Bernie Sanders unveils AI "tax" plan. Sen. Bernie Sanders (I-Vt.) on Thursday unveiled his plan for the U.S. government to take 50% equity stakes in large AI companies..... [more]

• The blockbuster SpaceX IPO and potential upcoming public offerings for OpenAI and Anthropic could create a tax windfall for the state of California. Yet the revenue boost may fall short of previous tech IPOs.... [more]

• SpaceX stock down nearly 10%, faces $160 billion valuation drop.... [more]

• Accenture forecast takes hit from Iran war, shares tumble over 17%.... [more]

• Shares of CarMax fell 9% Wednesday after the company beat Wall Street’s quarterly earnings expectations and its new CEO detailed a high-level turnaround strategy for the company..... [more]

• Tim Cook says iPhone prices will rise. Trump says Apple will make US chips with Intel.... [more]

• Abercrombie & Fitch’s Hollister is branching out of its apparel roots and partnering with Target to start selling home and dorm decor for the first time as both brands look to new categories to drive growth..... [more]

• Argentina logs $1.34 billion fiscal surplus in May.... [more]

• Cuba’s powerful Communist Party, or PCC, on Thursday approved an emergency economic package featuring unprecedented free-market measures aimed at opening up the struggling island’s economy amid heightened pressure.... [more]

• The Bank of England has held its main interest rate at 3.7% as the inflation pressures on the British economy have become more benign after the U.S. and Iran signed a deal to sign deal to end their war..... [more]

• Bank of England governor warns UK public to expect higher costs this year. Andrew Bailey says ‘inflationary pressure in pipeline’ despite US and Iran signing initial peace deal as interest rates kept on hold.... [more]

• Homeowners looking to renew mortgages could be in for a boost, with lenders expected to bring down rates after inflation surprised economists with a hold at 2.8 per cent..... [more]

• J.P. Morgan delays BoE rate hike forecast to November amid inflation risks.... [more]

• The BBC has announced 550 job cuts in news, nations and TV and radio content as part of its first stage in its plan to save £500m across the corporation over the next two years..... [more]

• The vocational training body City & Guilds has guaranteed that plans for mass compulsory redundancies and the offshoring of hundreds of UK jobs to Greece will no longer go ahead. The proposal to remove about 400 UK roles.... [more]

• Czech central bank delivers first rate hike in four years.... [more]

• French technology group 2CRSi’s stock tumbled more than 40% after accusations from a New York–based short seller — panicking retail investors in France, who sold other unrelated companies in the space..... [more]

• A Swedish transport authority is recommending a vote against the Europe-wide rollout of Tesla's (TSLA.O), supervised self-driving software, unless the U.S. EV ‌maker disables its ability to exceed legal speed limits.... [more]

• Laboratory testing company Intertek has agreed a £9.5 billion takeover by Swedish investor EQT in the latest deal that will see a British firm fall into foreign hands. London-listed Intertek has accepted a £61.08-a-share bid from EQT.... [more]

• BYD to Send Hot-Selling SUV to Europe, Pressuring Incumbents.... [more]

• Has China’s ‘618’ shopping festival lost its shine as consumers turn cautious? The shopping bonanza used to see mountains of packages pile up on street corners, but orders have dwindled amid China’s economic slowdown.... [more]

• Taiwan central bank raises growth outlook, flags inflation concerns.... [more]

• Indonesia’s central bank raised its key interest rate for a third time in about a month, extending its aggressive efforts to stabilize the rupiah and shore up investor confidence. Bank Indonesia lifted the benchmark BI-Rate by 25 basis points.... [more]

• India's long-delayed NSE IPO sets up $2.6 billion windfall for top investors. Investors from Indian state-owned lenders to Singapore's sovereign wealth fund and ​Canada's national pension manager.... [more]

• Pet-healthcare network Vetic has raised a fresh $40 million in funding led by Bessemer Venture Partners (BVP). Existing investors Greenoaks Capital, Lachy Groom, and JSW Ventures also backed the investment..... [more]

• Opinion - Shuli Ren: Why SpaceX, Samsung, Hynix Are Becoming Meme Stocks.... [more]

• Opinion - William Pesek: Why Xi is walling in China’s money – and why it won’t work. Beijing’s new crackdown on cross-border capital flows risks spooking the very investors China needs to restore confidence at home.... [more]