AustraliaBreaking News

• The Reserve Bank of Australia kept its official cash rate at 4.35% for the second consecutive meeting, noting that persistent inflation keeps potential monetary tightening on the table.
• Australia's major banks trade on price-to-earnings ratios spanning 17.6 to 28.2, underpinned by robust capital positions and stable credit quality.
• Sector executives project that high borrowing costs and slowing domestic economic activity will continue to influence credit growth and loan impairment expenses.

• The Australian Productivity Commission released an interim report declaring the 2018 GST distribution reforms a costly error. The system shifted $23 billion to Western Australia and requires an immediate overhaul.
• Maintaining the current structure will cost the federal budget an estimated $60 billion by the end of the decade. This structural shortfall actively strains the fiscal capacity of eastern states.
• Returning to horizontal fiscal equalisation threatens Western Australia's economic surplus. It simultaneously unlocks $47 billion for eastern states, forcing civil contractors to re-evaluate domestic pipelines.

• Lendlease executed a contract to divest its 50% stakes in two high-profile shopping centres, Lakeside Joondalup and Westfield Carindale, to Cbus Property for approximately $1.3 billion.
• The transaction highlights active capital recycling across major Australian property groups, with Lendlease Group shares reacting at $3.14 following the announcement.
• Sector participants continue to focus on operational streamlining, liquidity enhancement, and capital return strategies amid evolving commercial property valuations.

Shindor Cantor Lerner Managing Partner Kellie Lerner discusses the rising cost for sports fans to watch their teams through various streaming platforms such as the NFL, and potential legal ramifications for antitrust violations. She speaks to Romaine Bostick on Bloomberg's 'The Close.'

Embattled former Better.com CEO Vishal Garg says he believes that 'the job of making home ownership better for all Americans is not done' after he departed the company on August 3rd. He claims to have the support of a majority of Class A and B shareholders to return to the head of the company, in lieu of interim CEO Daniel Lewis. He speaks to Romaine Bostick on Bloomberg's 'The Close.'

Aston Martin CEO Adrian Hallmark speaks to Romaine Bostick on Bloomberg's 'The Close' about the company's newest model, the Valen. More powerful than any other front-engine vehicle in its 113-year history and capped at 150 cars worldwide, Hallmark details what makes this model different from any other.

Former Boston Federal Reserve President Eric Rosengren isn't surprised by a weaker retail sales number with the American consumer dealing with higher oil prices while AI and tech investment drive a large portion of investment spending. He speaks to Romaine Bostick and Isabelle Lee on Bloomberg's 'The Close.'

Hollywood has once again cheated death. The first seven-plus months of 2026 have revived the industry's faith not just in movies but in the act of going to the theater. Global ticket sales have increased 15% from a year earlier and are on pace for their best annual total since 2019. Five movies have eclipsed $1 billion, with Spider-Man: Brand New Day almost clearing that on opening weekend. With new installments of Dune and Avengers coming, that group could swell to seven the second-most on record. Bloomberg News Media & Entertainment Managing Editor Lucas Shaw brings us the latest from Hollywood.

Bloomberg News Senior Investigative Reporter writes a weekly newsletter, The FOIA Files. This week's edition show "records, which include emails, spreadsheets and training slides, provide a window into the internal deliberations at the highest levels of government as officials discussed how to review, redact and release the Epstein files."

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

Mike Wilson, chief US equity strategist & chief investment officer at Morgan Stanley, joins Scarlet Fu and Tom Keene on "Bloomberg Money."

Bloomberg's Lisa Mateo joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss how young women rushing sororities have been paying from $3K to $12K for coaches to teach them southern sororities unwritten rules in hopes of getting accepted.