Australiaaud

The Greens demand a ban on SMSF residential property borrowing in exchange for a crucial federal budget vote in the Senate.

Australia announced a one-month extension to its fuel excise relief, reducing the rate to $0.16 per litre from July 1 to Aug. 2.

• Jabil’s Q3 fiscal 2026 revenue reached $8.8 billion, with management signaling strong future demand for AI-native infrastructure and cooling systems.
• The company reported U.S. GAAP operating income of $445 million and core diluted earnings per share of $3.16, as it pivots toward high-speed AI interconnects.
• The broader sector faces a structural shift as contract manufacturers race to expand domestic capacity for power-intensive, liquid-cooled data center hardware.

• A steep downturn in the resources sector reduced overall Australian business operating profits by 1.9% during the 2024–25 financial year.
• The contraction was led by a 19.1% fall in mining profits, stripping $32.9 billion from the sector.
• Sustained pressure from weaker global prices for iron ore, coal, and lithium remains the primary industry headwind.

• The Reserve Bank of Australia left the official cash rate target unchanged at 4.35% on June 16 to evaluate earlier interest rate increases.
• Persistent capacity pressures and fuel costs pushed inflation above expectations, linking interest-sensitive equities through uniform borrowing environments.
• Corporate leaders forecast structural cost pressures as global oil disruptions and consumer spending limits challenge forward retail and housing pipelines.

• Gina Rinehart's Hancock Prospecting has acquired a $1.31 billion stake in SpaceX following its initial public offering.
• SpaceX completed its first official day of public trading with a total market valuation of US$2.1 trillion.
• The deal links Australian natural resource exporters directly to the infrastructure requirements of orbital data networks.

• The federal government released a consultation paper detailing an alternative mechanism to help eligible early-stage startups retain their 50% capital gains tax discount, delaying final legislation until late 2027.
• Eligible independent firms must hold an annual turnover under $50 million, operate for under a decade, and issue equity after June 30, 2027.
• The broader market faces a July 1 transition substituting the flat 50% discount with cost base indexation and a 30% minimum tax rate.

• The Australian federal government announced a $3.6 billion wage subsidy extension to secure a 15% pay rise for early childhood educators over two years, preventing a planned July 15 walkout by over 20,000 workers.
• Funding eligibility requires listed operators to cap consumer fee increases from mid-2027, directly impacting organic revenue growth and profit margins across the sector.
• The structural policy shift introduces strict regulatory compliance guidelines alongside a separate $426.6 million initiative, forcing providers to manage tight workforce retention against mandated pricing restrictions.

The government released a consultation paper detailing a capital gains tax carveout to preserve the 50% discount for eligible startup investors.

Bass Oil (ASX:BAS) has completed the acquisition of a 100% interest in the Vanessa gas field, including a shut‑in well, gas processing facility and 5km pipeline into the Cooper Basin transmission network.

The company said Vanessa marks a step toward entering the east‑coast gas market at a time when it believes demand and pricing remain supportive for smaller, low‑cost operators.