The Australian government's talks with the US on requested changes to the AUKUS defence partnership have been under way for 18 months. ABC reported that the Pentagon is reviewing the cost and timeline parameters of the programme.
Australia has been included in a proposed 12.5 percent additional tariff announced by the US Trade Representative. The decision is part of a new US package targeting forced-labour risk in global supply chains.
Wool prices in New Zealand have hit their highest level in 15 years on the back of surging demand. The yield outlook for sheep farmers depends on developments in the global textile market.
ABC News Australia reports that past speeches show Prime Minister Anthony Albanese had argued against selling the HMAS Penguin land on Sydney Harbour. The Defence Department has announced the site will be divested.
According to data reported by RNZ, hospitality business closures in New Zealand rose 49 per cent over the past year. The same data show more than 130,000 people carry mortgages above 1 million New Zealand dollars; together the two figures suggest household pressure is becoming persistent.
Australia's ASX is set to open higher after AI stocks surged on Wall Street overnight, ABC News Australia reported. Oil prices climbed to a one-week high after conflicting US and Iran updates on bilateral talks.
According to RNZ Business, New Zealand's primary care chain The Doctors will be sold for around NZ$270 million. The new ownership structure remains domestically anchored, aligning with the government's emphasis on local health services.
According to ABC News Australia, the UN has warned that a moderate-to-strong El Nino event is expected to develop and 'pour fuel on the fire' of existing extreme heat. The alert comes as India endures a deadly heatwave with temperatures touching 47 degrees Celsius.
New Zealand Heartland Bank has announced plans to acquire regional rival TSB for $620 million. The deal marks a new step in years of consolidation in the country's retail banking sector. The Reserve Bank will review the agreement within 60 days.
The chair of Australia's Royal Commission has announced non-disclosure agreements will be waived in the ongoing inquiry into military sexual violence. The decision opens participation in inquiry hearings to former Defence Force personnel and family members. The federal government expects the three-year commission's final report in spring 2027.