Market Reports

• Australian Market Report: The S&P/ASX 200 finished down 34.2 points, or 0.4 per cent, at 8657.80, with miners the only sector in the green. The Australian dollar edged down 0.1 per cent to US71.67¢ in afternoon trade..... [more]

• U.S. Market Report: The S&P 500 and the Nasdaq traded near record highs on Tuesday, with AI-fueled optimism offsetting concerns over Middle ‌East peace talks after recent U.S. strikes on Iran..... [more]

• European Market Report: European stocks closed lower on Tuesday as hopes for a quick U.S.-Iran peace deal faded following the U.S. military launching some strikes against Iranian targets..... [more]

• Asian Market Report: Asian stocks ended mixed on Tuesday, with South Korea's Kospi rallying to reach a fresh record high as trading resumed after a long holiday weekend..... [more]

Australian Business News

• Commonwealth Bank CEO backs capital gains tax changes for property investors. One of the nation’s biggest home lenders has backed proposed changes to the capital gains tax discount for property investors but has urged.... [more]

• UBS has downgraded the banks and reshaped its preferred list, naming the sectors and stocks best placed to weather a housing slowdown..... [more]

• There's a legitimate debate around startups and CGT, but it needs to be had honestly. Much of the opposition to the proposed CGT changes has been co-opted and the facts misrepresented. This time is no different..... [more]

• The major superannuation funds want the Compensation Scheme of Last Resort (CSLR) subjected to a thorough redesign to ensure its economic sustainability and to reduce their exposure to further and ongoing special levies.... [more]

• FAAA wants AFCA rule change on super and MISs.... [more]

• With new CEO at the helm, ASX Ltd drops -10% on raised tech spend following ASIC case.... [more]

• Top-rated all in one ETF. A simple and effective low-cost multi-asset solution..... [more]

• Federal Labor has set up a fight with Australia's second-largest oil and gas company, Santos, after revealing a reservation policy that would hit the company's flagship export venture..... [more]

• The independent senator David Pocock says leaked BHP documents show that the mining giant is “laughing” at Australia’s key climate policy while pocketing hundreds of millions of dollars through a generous diesel tax break..... [more]

• Aguia Resources has cleared the final regulatory hurdle needed to launch commercial sales of its Pampafos phosphate fertiliser product in southern Brazil, opening the gate to the company’s first meaningful revenue stream.... [more]

• Terrain Minerals has expanded one of its biggest induced polarisation IP geophysical programs at its Smokebush gold and silver project, 350km north of Perth in WA’s Mid West, by adding four new survey lines.... [more]

• PLC Resources has wrapped up the first-ever drilling campaign at its Rochefort gold prospect in Western Australia’s Murchison region, completing a reconnaissance reverse circulation (RC) program and demobilising the rig from site..... [more]

• The (former) bogan billionaire Nathan Tinkler’s re-emergence at White Energy – his third attempted plunge back into the ASX coal scene in five years – has driven major gains for the previously flailing junior..... [more]

• Viridis Mining and Minerals has produced the first batch of mixed rare earth carbonate at its Colossus demonstration plant in Brazil, marking a major technical milestone for the company as it edges closer to commercial production..... [more]

• Mining companies in WA are forking out $23,000 per day for Aboriginal cultural heritage surveys, as the industry warns the cost of complying with the “burdensome” laws has blown out by 50 per cent in three years..... [more]

• Iran war derailed talks to claw back billions in tax credits paid to miners.... [more]

• Optimism around Guzman Y Gomez’s US exit falters as company hit by class action.... [more]

• OpenAI chief executive Sam Altman downplayed the threat of AI killing jobs just days after WiseTech informed the police of “threats of violence” against its CEO, who is using the technology to replace thousands of its workers..... [more]

• Data centres powering the artificial intelligence boom could demand more new electricity over the coming 15 years than Australia's cars or homes, according to a Greenpeace report.... [more]

• Percheron Therapeutics secures proposed WHO drug name for HMBD-002 cancer therapy.... [more]

• Comment - Ryan Lim: Who cut the RBA's brake wires? C. Joye sees a now entrenched inflation problem, and a paralysed RBA. And sounds like we are in desperate times. So, desperate measures?.... [more]

• Analysis - David Taylor: Rate hikes and tax changes have broken the back of the latest property boom. The early signs of an Australian housing market correction are now clearly visible..... [more]

• Analysis/Explainer - Simon Kuestenmacher: What does ‘housing affordability’ mean – and do we actually want it? Housing affordability is one of those phrases everyone uses but few people define..... [more]

• Comment - Leigh Grant: Why your superannuation may need a bigger buffer in 2026. "Enough" may not leave much room for error..... [more]

World Business News

• Near record highs, stocks face fresh test from bond yields.... [more]

• A new quantum-computing stock is getting closer to hitting Wall Street, as a Honeywell International spinoff named Quantinuum has set terms Tuesday for an initial public offering..... [more]

• Micron’s stock soars as UBS slaps on an out-of-sight price target. Strong memory chip demand is leading to enhanced long-term agreements that should benefit Micron’s stock and earnings power for years, UBS says.... [more]

• American Airlines plans to outfit more than 500 of its narrow-body aircraft with Starlink, handing another win to Elon Musk’s SpaceX unit that has made inroads with major carriers for in-flight Wi-Fi..... [more]

• Pentagon spars with SpaceX over Starlink price hike during Iran war. As U.S. kamikaze drones guided by Elon Musk’s Starlink network began to make visible gains in the war against Iran, senior SpaceX officials reached a conclusion.... [more]

• Eli Lilly on Tuesday said that it has agreed to pay up to $3.8 billion in cash to buy three vaccine developers: Curevo, LimmaTech, and Vaccine Co..... [more]

• Analysts see limited upside to Ackman's Pershing Square as they kick off coverage.... [more]

• Edwards Lifesciences stock hits 52-week high at 87.89 USD.... [more]

• After U.S. cosmetics company Estée Lauder (EL.N), walked away from merger ​talks with Spanish perfume maker Puig (PUIGb.MC), analysts called the move prudent and said it left Estée with more flexibility to pursue other ‌acquisitions..... [more]

• Drivers for ride-hailing apps such as Uber and Lyft in Massachusetts became the first in the nation Tuesday to certify a union, marking a milestone in the growing effort to organize gig-economy workers amid ongoing concerns over pay.... [more]

• AutoZone stock on pace for worst trading day since March 2020, despite retailer beating Wall Street estimates.... [more]

• PayPal helped invent online checkout. Nearly three decades later, it’s struggling to defend its turf. The iconic online payments company is facing its biggest challenge in nearly three decades of existence..... [more]

• Argentina to gradually eliminate taxes on some industrial exports.... [more]

• Elon Musk's Starlink and Amazon's (AMZN.O), low-earth-orbit satellite business may be able ​to acquire some European mobile satellite spectrum next year, two ‌people with direct knowledge of the matter said on Tuesday..... [more]

• UK households set to face £200 energy bill rise thanks to Iran war.... [more]

• BP removes board chair, citing "conduct" concerns.... [more]

• Oil giant BP has removed its chairman Albert Manifold with immediate effect over concerns including "bullying" and "overbearing" behaviour by him, the BBC understands..... [more]

• British retailers reported lower sales in May against a backdrop of weak demand, but not the record downturn they had reported a month earlier, ​according to figures released by the Confederation of British Industry on ‌Tuesday..... [more]

• B&Q blames sales dip on wet Easter but predicts heatwave gain. DIY chain owner Kingfisher is top FTSE 100 riser as it sticks to full-year profit outlook.... [more]

• Sales jump at homeware retailer Dusk despite pressure on shoppers. The online homeware and furniture retailer has revealed revenues jumped by 28% to £195 million for the year to March 31..... [more]

• The boss of Next has sounded the alarm about a “dramatic fall” in the number of entry-level jobs in the UK that is driving up youth unemployment, saying the retailer now receives twice as many applicants for each role.... [more]

• Ferrari unveils first fully electric car.... [more]

• Terra Quantum has changed its partner for its planned $3.5 billion listing, the Swiss ​quantum technology company said on Tuesday..... [more]

• S&P Global Ratings has revised its outlook on Zijin Mining, mainland China’s largest mining company, to positive on the back of expanded production and stronger cost management..... [more]

• Qualcomm Strikes AI Chip Deal With TikTok Owner ByteDance.... [more]

• Property developer China Vanke Co (000002.SZ), is seeking to ​extend four onshore bonds by ‌one year, offering to repay 40% of principal upfront, sources ​told Reuters on Tuesday..... [more]

• Hong Kong proposes issuing 10,000 permits for drivers on ride-hailing apps like Uber.... [more]

• India's position as the fifth-largest global market by capitalisation is under threat as Taiwan closes in on the South Asian nation's spot, powered largely by the rapid rise ​of chip-making major Taiwan Semiconductor Manufacturing Co.... [more]

• The leader of Africa’s most developed economy faces impeachment proceedings over a scandal from years ago involving around $580,000 in cash that was stashed in a sofa at his game farm and then stolen..... [more]

• Comment - Michael Sincere: This bear market signal Wall Street ignores is putting your money at risk right now. Veteran trader Steve Burns prepares for a 50% decline and exposes the 3 ‘deadly stock-market sins’.... [more]