Skip to main content

Australia Breaking News

Every story in this category, newest first.

Bloomberg

By The Way: Headlines You May Have Missed the Week of 8/02

Younger Chinese professionals moving away from the traditional baijiu drinking culture, premium bottled water gaining traction with wellness-focused consumers, and historic government buildings across Europe being converted into luxury hotels. Bloomberg News' Nathan Hager joins David Gura and Christina Ruffini on Bloomberg This Weekend to share headlines you may have missed.

Read more: By The Way: Headlines You May Have Missed the Week of 8/02
Bloomberg

SpaceX IPO Faces First Reality Check

Bloomberg Space Reporter Loren Grush says investors will use SpaceX's first public earnings report to gauge progress on Starship, Starlink, AI infrastructure and the company's long-term growth strategy following its blockbuster IPO. She says Starship's latest test marks meaningful progress, but major technical hurdles remain before the rocket can support rapid reuse and ambitious missions to the Moon and Mars.

Read more: SpaceX IPO Faces First Reality Check
Bloomberg

Trump Pauses Iran Strikes as Talks Resume

Bloomberg's Jeff Mason and Dan Williams say President Donald Trump is pausing planned military action against Iran to allow negotiations over the Strait of Hormuz and Iran's nuclear program to continue, while warning the pause depends on reaching a deal quickly. They say Israel remains cautious, Gulf states are increasingly pursuing their own security strategies, and any agreement on shipping through Hormuz could reshape the regional balance of power even as broader conflicts in Gaza and Lebanon continue.

Read more: Trump Pauses Iran Strikes as Talks Resume
Grafa
Insights

How HSBC Australia is quietly ditching everyday retail borrowers

  • HSBC Holdings (NYSE:HSBC) agreed to divest its $36 billion Australian home and personal loan portfolio to Blackstone Inc. (NYSE:BX) as part of a broader strategy to simplify operations.
  • The transaction carries an immaterial loss of under $100 million for HSBC, while major domestic competitors continue managing multi-billion-dollar residential lending portfolios.
  • Traditional banks are scaling back complex consumer portfolios to optimise capital reserves, leaving specialised non-bank institutions to expand market share through third-party servicing arrangements.
Read more: How HSBC Australia is quietly ditching everyday retail borrowers
Grafa
Insights

Residential construction approvals spark urban density versus suburban expansion debate

  • The Australian Bureau of Statistics reported a 7.2% rise in total dwelling approvals to 18,328 in June, driven by a 17.8% jump in multi-unit approvals.
  • Annual residential approvals reached 205,249 dwellings for the 2025-26 financial year, reflecting a 9.2% increase compared to the previous period.
  • Sector analysts observe that while apartment pipelines expand, non-residential construction values dropped 24.7% to $8.26 billion, creating mixed pressures for large developers.
Read more: Residential construction approvals spark urban density versus suburban expansion debate
Bloomberg

The Father of 401(k) Has A New Retirement Plan

Known as the "Father of 401(k)" Ted Benna has co-created Radish: a new employer-funded retirement plan that allows employees to access funds for immediate financial needs such as car repairs or medical expenses without relying on paycheck deductions. Joining David Gura and Christina Ruffini on Bloomberg This Weekend, Benna explains that while the original 401(k) succeeded in transforming workers into savers, many people now lack the financial ability to contribute.

Read more: The Father of 401(k) Has A New Retirement Plan
Bloomberg

Ukraine Gains Ground as Putin Faces Pressure

Former US Ambassador Bill Taylor joins Bloomberg This Weekend and says Ukraine maintains momentum on the battlefield despite intensified Russian missile attacks, while urging the US and its allies to accelerate deliveries of Patriot interceptors. Taylor explains to hosts David Gura and Christina Ruffini that mounting military losses and economic strain increase pressure on Russian President Vladimir Putin, even as Ukraine continues to press for more Western support.

Read more: Ukraine Gains Ground as Putin Faces Pressure
Bloomberg

Wildfires Spread Across Southern Europe

Bloomberg Athens Deputy Bureau Chief Paul Tugwell says Greece's wildfire response is under severe strain as gale-force winds, dry conditions and difficult terrain hamper firefighting efforts, with major blazes continuing to spread in central and southern parts of the country. He says European Union countries are coordinating firefighting resources across borders as climate change extends the wildfire season and raises concerns about the long-term economic and insurance costs of increasingly destructive fires.

Read more: Wildfires Spread Across Southern Europe
Bloomberg

FIFA Faces Backlash Over Investment Plan

Bloomberg Senior Sports Reporter Randall Williams says FIFA President Gianni Infantino is under mounting pressure after withdrawing plans to sell a stake in the World Cup following opposition from UEFA and other soccer leaders. He says critics argue FIFA's record revenues and multibillion-dollar reserves undermine the case for outside investment, raising new questions about Infantino's leadership ahead of his reelection bid.

Read more: FIFA Faces Backlash Over Investment Plan
Bloomberg

Israel Election Puts Netanyahu Under Pressure

New Yorker Editor David Remnick joins Bloomberg This Weekend and says Prime Minister Benjamin Netanyahu enters Israel's election campaign in a vulnerable position as challenger Gadi Eisenkot gains support, though Netanyahu remains a formidable political opponent. Remnick tells hosts David Gura and Christina Ruffini that the Gaza war, Iran shapes the campaign as Israelis weigh leadership, security and the country's future.

Read more: Israel Election Puts Netanyahu Under Pressure