Market Reports

• Australian Market Report: The Australian sharemarket closed lower on Monday as investors reacted to ratings agency Moody’s stripping the US of its AAA credit rating. The S&P/ASX200 dropped 48.6 points, or 0.6 per cent, to 8295.1.... [more]

• U.S. Market Report: Wall Street's main indexes slipped on Monday and Treasury yields spiked after Moody's surprise downgrade of the U.S. sovereign credit rating due to mounting debt sparked anxiety about the fiscal outlook..... [more]

• European Market Report: After languishing in negative territory for much of the day's trading session, European stocks closed mixed on Monday with several markets seeing some brisk buying at several key counters past mid afternoon..... [more]

• Asian Market Report: Asian stocks ended lower on Monday as Moody's downgrade of the U.S. credit rating reinforced Wall Street's growing worries over the U.S. sovereign bond market.... [more]

Australian Business News

• Reserve Bank tipped to cut cash rate amid growing confidence Australia’s inflation is being tamed. Market pricing implies 95% chance of quarter point drop to 3.85%, but there’s also speculation of surprise bumper half percentage point cut.... [more]

• More than half of employers say new laws cracking down on workplace communications after business hours have led to an increase in productivity and lower employee stress, according to a new report..... [more]

• The NSW Treasurer has used his first major speech since the Australian federal election to call for help to tackle the “punishing” housing market..... [more]

• The Australian Securities and Investments Commission (ASIC) should not be seeking to use the publication of internal dispute resolution and reportable situations data as a ‘name and shame’ tool to incentivise good behaviour.... [more]

• New super tax will hit younger workers with modest balances.... [more]

• Bendigo and Adelaide Bank tackles Kafka growth since open banking.... [more]

• Bookworm: Five words that separate investors from speculators. A passage from Warren Buffett’s favourite finance book poses an important question to every investor..... [more]

• Are US assets becoming less desirable?.... [more]

• Hundreds of workers are in limbo after a major Tasmanian smelter paused operations, citing tariffs, ore supply and global price volatility. The move by Liberty Bell Bay, located in George Town.... [more]

• Australia is approaching an unprecedented boom in household battery uptake as installers report a post-election surge of home owners eager to seize new federal government rebates that will slash thousands of dollars off the upfront cost..... [more]

• Celsius Resources steps up MCB copper-gold project with Ausenco and fresh funding.... [more]

• Japanese energy firms could be making upwards of $1 billion on-selling Australian liquefied natural gas to other countries at a time when domestic shortfalls loom. Australia is the top supplier to Japan's third-party trade business.... [more]

• Red Metal Limited has turbocharged the value proposition of its Sybella rare earths discovery in Queensland after fresh test work confirmed the project’s strong heap leach potential to deliver high recoveries.... [more]

• The All Ordinaries Index (ASX: XAO) is down 0.2% today, but that's not holding back this soaring ASX gold stock. The surging company in question is Gorilla Gold Mines Ltd (ASX: GG8)..... [more]

• Energy Australia apologises to 400,000 customers and settles greenwashing legal action. Energy retailer says carbon offsetting ‘not the most effective way’ to reduce emissions.... [more]

• Domino’s Pizza Enterprises Ltd (ASX:DMP) has told investors that head of its Australia New Zealand business, Kerri Heyman, will be stepping down later this year after 3 decades at the company..... [more]

• Vodafone alleges Telstra inflated its coverage claims.... [more]

• Australia Post will be expanding its distribution sites across regional and rural New South Wales as online shopping increases. Six new sites will be based in Tumut, Leeton, Deniliquin, Forbes, Casino and Byron Bay.... [more]

• Tax office lashes ‘dodgy websites’ over false superannuation claims. The age Australians can access their superannuation savings will not start increasing to 70 from 2025, despite claims that are winding up social media users..... [more]

• Parents of teen workers accuse union of ‘predatory’ sign-up tactics. Even union supporters say the Shop, Distributive and Allied Employees’ Association’s tactics feel ‘unsettling’.... [more]

• Opinion - Ross Gittins: Want greater productivity? Set wages to rise by 3.5 per cent a year.... [more]

World Business News

• Dollar has most to lose as Moody’s US downgrade marks start of American malaise.... [more]

• The roughly $29 trillion Treasury market was dealt another big blow on Monday as bond yields jumped after Moody’s decision on Friday to strip the United States of its last set of AAA credit ratings..... [more]

• JPMorgan Chase (JPM.N) CEO Jamie Dimon said the bank's succession plans were unchanged, without giving a timeline for when his successor might take the helm..... [more]

• JPMorgan CEO Jamie Dimon says markets are too complacent on tariffs, expects S&P 500 earnings growth to collapse.... [more]

• ‘Sell America’ is back on after a massive debt warning .... [more]

• Nippon Steel (5401.T), plans to invest $14 billion in U.S. Steel's (X.N) operations including up to $4 billion in a new steel mill if the Trump administration green lights its bid for the iconic U.S. company.... [more]

• Microsoft will host Elon Musk's Grok in its cloud.... [more]

• Dell Technologies (DELL.N), on Monday unveiled new servers powered by Nvidia's (NVDA.O), Blackwell Ultra chips, aiming to capitalize on the booming demand for artificial intelligence systems..... [more]

• Regeneron to buy bankrupt DNA testing firm 23andMe for $256 million .... [more]

• Paramount ousts CBS News CEO Wendy McMahon amid divide with leadership.... [more]

• President of CBS News resigns as Trump lawsuit hovers over network.... [more]

• Moody’s Ratings has upgraded its ratings for Royal Caribbean (NYSE:RCL) Cruises Ltd. The senior unsecured rating has been raised to Baa3 from Ba1, and the commercial paper rating has increased to P-3 from Not Prime..... [more]

• Novavax shares jump after long-awaited FDA approval of its COVID-19 vaccine.... [more]

• ‘Sesame Street,’ Facing Crisis, Signs New Deal With Netflix. The deal is a much-needed shot in the arm for Sesame Workshop, the nonprofit that produces “Sesame Street” and has been struggling financially..... [more]

• Moody’s upgrades Eletrobras credit rating to Ba1, maintains stable outlook.... [more]

• The Russian economy could cope with the rouble sliding back to 100 to the dollar but authorities worry that any correction from current levels could spiral out of control, a senior government source has told Reuters..... [more]

• The UK and the EU hail a new chapter as they sign fresh deals 5 years after Brexit.... [more]

• Who are the winners and losers from the UK-EU agreement?.... [more]

• Deal with EU will make food cheaper and add £9bn to UK economy, says No 10. Agreement reached to ‘slash red tape’ on food products, in exchange for extended EU access to fishing waters.... [more]

• Will Labour’s shake-up really fix Great Britain’s ailing railways? As South Western becomes the latest operator to be renationalised, there are questions about whether the changes will lead to lower fares.... [more]

• European Union antitrust regulators will decide by June 25 whether to clear Mars' $36 billion takeover of Pringles maker Kellanova (K.N) according to a European Commission filing..... [more]

• Moody’s US downgrade rings alarm on Asia’s dollar assets. US credit rating downgrade from AAA top tier reminds Asia of the rising risks of being Washington’s banker.... [more]

• Third time lucky? Richard Li’s insurer FWD files to list in Hong Kong amid rising IPO wave. The insurer has received preliminary interest from potential investors for its third attempt to list in Hong Kong, sources say.... [more]

• China Accuses US of Undermining Trade Talks With Warnings Against Huawei Chips.... [more]

• China announced anti-dumping duties as high as 74.9% Sunday on imports of POM copolymers, a type of engineering plastic, from the United States, the European Union, Japan and Taiwan..... [more]

• Japan’s economy shrinks as Trump’s trade war hits exports and shakes confidence.... [more]