Market Reports

• Australian Market Report: The Australian sharemarket has finished higher for the day. The benchmark S&P/ASX200 index rose 15.5 points, or 0.18 per cent, to 8764.2 on Friday, while the broader All Ordinaries gained 12.6 points, or 0.14 per cent, to 8964.2..... [more]

• U.S. Market Report: Wall Street was mixed on Friday. The Nasdaq was on pace for a more than 4% ‌drop for the week and the S&P 500 (.SPX), was set for a fall of over 1% as high-flying semiconductor companies remained under pressure.... [more]

• European Market Report: European stocks closed broadly lower on Friday amid fresh concerns about valuations in the tech sector on reports OpenAI could delay its public market debut..... [more]

• Asian Market Report: Asian stocks declined on Friday amid a broad sell-off in semiconductor and artificial intelligence-related companies after Microsoft and Apple increased prices on some of their most popular products..... [more]

Australian Business News

• Anthony Albanese has played down ire over his government’s tax changes after they passed parliament, likening it to past reforms that spurred similar “catastrophic” warnings that did not manifest..... [more]

• Ranking three common retirement strategies. Converting a lifetime of savings into sustainable income is retirement’s defining challenge..... [more]

• The Australian Securities and Investments Commission (ASIC) has initiated further Federal Court action against former Keystone Asset Management directors and members of its compliance committee..... [more]

• Age pension income and asset test limits to rise next week. The limits on income pensioners can earn and the assets they can own will rise on 1 July..... [more]

• Novatti Group (ASX: NOV) has realised $1.2 million through the partial sale of its investment in stablecoin business AUDC, while retaining a significant holding as it continues to back the company’s future growth..... [more]

• Dateline chairman backs US gold, rare earths push with $1.95M bet. When a company director puts their own cash on the line, it’s often seen as the ultimate vote of confidence in the business they steer..... [more]

• Lightning Minerals Ltd is a mineral exploration company focused on the exploration of critical minerals and lithium at its tenements across Western Australia. The recent acquisition of the Caraíbas, Sidrônio (now Canabrava) and.... [more]

• The Cash Welcome group has slammed Ampol’s latest expansion plans, calling it “un-Australian” as they no longer accept legal tender. In a move announced earlier this month, petroleum giant Ampol is preparing to triple its network.... [more]

• Andrew Forrest, the billionaire chairman of mining giant Fortescue, has sent a stark warning to employees after a class action.... [more]

• PLS Shares Down 25% on Month as Lithium Rally Faces Test.... [more]

• Nine and Foxtel are on the cusp of a multibillion-dollar agreement to keep airing the NRL in what could be the most expensive rights deal for an Australian sporting code in history..... [more]

• Tasmea Shares Up 35% In June, Setting New Highs: Is Momentum Set To Stall?.... [more]

• Recce Pharmaceuticals is raising up to $8 million to advance its portfolio of synthetic anti-infective products designed to fight antibiotic resistant superbugs..... [more]

• Australia’s new law on supermarket “price gouging” (also known as excessive pricing) starts on July 1. It prohibits any very large supermarket with revenue exceeding $30 billion – currently only Coles and Woolworths.... [more]

• Real Juice Company and owner fined $250k over forklift accident.... [more]

• Analysis - Jessica Yun: Coles and Woolies are being banned from price-gouging. No one knows what exactly that means. Amid a cost-of-living crisis and a period of widespread dissatisfaction with Coles and Woolworths.... [more]

• Comment - Chris Conway: Which ASX stocks would Buffett buy? I built a stock screen based on Warren Buffett’s investing philosophy. Thirty-five companies survived. Only three made the final cut..... [more]

• Opinion - Millie Muroi: Why the RBA has been so chill about putting jobs on the line. If the Reserve Bank has seemed more intent on hammering down inflation than preserving jobs, that’s because it is..... [more]

World Business News

• Oil prices may have fallen ‘too far, too fast’ as Trump confirms Iran violated the cease-fire deal.... [more]

• Bitcoin dips as Iran oil returns to the dollar system. Iran’s return to dollar-based oil trade weakens the case for crypto as a sanctions workaround — and markets have responded.... [more]

• The U.S. trade deficit in goods swelled to a 14-month high in May as businesses boosted imports, likely to avoid shortages and higher prices related ​to the war in the Middle East, prompting economists to cut their growth estimates.... [more]

• Americans are feeling a little better about the economy as gas prices ease.... [more]

• President Donald Trump on Friday threatened a 100% tax on imports from any country that imposes a tax on digital services from United States companies. In a post on social media, Trump took aim at European countries that he said.... [more]

• Fed Chair Warsh taps veteran staff economists as advisers.... [more]

• AI stocks melt down again. What’s going on? Tech stock traders can be an impatient bunch. But lately, they’ve grown seriously ticked off about the high price they’ve paid to get into the AI game without the profit boost.... [more]

• Healthcare stocks have become a haven for investors ditching tech. AbbVie, Lilly and J&J’s shares are on pace for all-time highs.... [more]

• ChatGPT maker OpenAI said Friday it is restricting the release of its new artificial intelligence model at the request of President Donald Trump’s administration, the latest in an unprecedented government vetting of AI products.... [more]

• Apple and Xbox are raising prices on consumer devices as the AI boom has caused a global shortage of memory and storage chips, pushing up costs across the electronics industry..... [more]

• ‘Unavoidable’: Apple announces price increases across multiple products as ‘hundred-year flood’ hits tech industry. The company has blamed soaring memory and storage chip costs, fuelled by enormous demand from AI data centres.... [more]

• Sellas Life Sciences options trading jumps to 66,504 contracts.... [more]

• SpaceX employees got rich off stock options. Ex-Blue Origin workers say theirs are worthless..... [more]

• ATF cancels phone tracking contract after lawmakers raise concerns. The Bureau of Alcohol, Tobacco, Firearms and Explosives canceled its contract for a surveillance tool that enables warrantless tracking of mobile devices.... [more]

• ‘Fork in the road’: CEO of Amazon-backed Rivian on why carmakers need to invest in EVs. RJ Scaringe says firms focused on selling fossil fuel engines risk being ‘woefully behind’ on technology by end of decade.... [more]

• Euro zone consumers cut their near term inflation expectations in May and kept them steady for longer ​horizons, a European Central Bank survey showed on Friday, ‌suggesting that the bank is not under pressure to quickly raise interest.... [more]

• Too hot for work: why extreme heat is a threat to Europe’s productivity. High temperatures make some workplaces dangerous, with economists warning disruption will dent growth.... [more]

• UK public's inflation expectations continue to ease, Citi/YouGov survey shows.... [more]

• Who could be the UK's next chancellor?.... [more]

• Great Britain’s first new major hydropower projects in more than 40 years are expected to move ahead after the energy regulator gave a provisional green light to three proposals as part of a plan to reduce the country’s reliance on.... [more]

• King Charles has become the first monarch to reveal their tax bill, disclosing figures that show he paid £12.9m in tax for 2024-2025. The level of tax paid by the King places him among the top 100 UK taxpayers..... [more]

• Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with ‌the matter said on Friday, in what could be the biggest ever overhaul in the industry..... [more]

• China's central bank instructed some commercial banks to increase their lending this month, people familiar with the matter said on Friday, the ​latest sign that demand for credit remains weak as the ‌economy grapples.... [more]

• China’s unicorns rise to 381 as ByteDance ranks in top 3 globally: Hurun index.... [more]

• China built Indonesia’s nickel boom. Will it stay for the bust? Nobody backed Indonesia’s nickel push like China but Jakarta’s erratic policy and a market dip are testing the strength of those ties.... [more]

• Indonesia is expected to start issuing at least US$1 billion in yuan-denominated bonds in China within days or weeks, the Southeast Asian country’s national news agency Antara said on Friday, as part of an effort to stabilise domestic.... [more]

• Commerce minister Piyush Goyal on Friday urged Indian and British businesses to look beyond incremental gains from the India-UK Free Trade Agreement (FTA), saying the pact should become a catalyst for "transformational growth".... [more]

• Adani Judge Says US ‘Failed’ to Justify Criminal Case Dismissal.... [more]

• Byju's global lenders are in talks to take a roughly 30% stake in one of its partly-owned education firms and drop all legal action against the Indian company's founder Byju Raveendran, ​two sources with direct knowledge said..... [more]

• Analysis - Laura Tingle: How on earth has the global economy survived this ongoing war? An unfortunate side effect of the incompetent and erratic negotiating tactics of the Trump administration.... [more]