Australia Breaking News

City Chic Collective (ASX:CCX) expects to report underlying EBITDA between $12.5 million and $13.5 million for the 2026 financial year.

Regis Resources (ASX:RRL) has declined to match a rival takeover proposal for Vault Minerals (ASX:VAU), securing a $50.7 million break fee.

Etherstack (ASX:ESK) recorded a 39% increase in first-half revenue to US$8.5 million for the period ended June 30.

The US military launched air strikes against 140 targets in Iran following an Iranian drone strike on a commercial container ship in the Strait of Hormuz.

Insurance Australia Group (ASX:IAG) has lodged a five-year remedy offer with the Australian Competition and Consumer Commission.

The Australian Taxation Office faces a $49.8 billion shortfall as uncollectable small business debts rise.

Rep. Greg Stanton says the Trump administration needs a stronger diplomatic strategy to reopen the Strait of Hormuz and negotiate a more accountable agreement with Iran, warning the conflict has increased economic and geopolitical risks. He also defends closer ties with Canada, Mexico and other US allies as essential to competing with China, while condemning settler violence in the West Bank following an incident involving Rep. Ro Khanna.

Martha Gimbel, executive director and cofounder of the Budget Lab at Yale University, says artificial intelligence is unlikely to offset the economic challenges of an aging population, arguing the US is confronting two major transitions at the same time rather than one solving the other. She says AI could improve productivity in some areas, particularly by helping caregivers with physically demanding tasks, but questions whether consumers will embrace automation in roles where human interaction remains essential.

Former US ambassador to NATO Kurt Volker says the NATO summit reinforces alliance unity, strengthens support for Ukraine and sends a tougher message to Russian President Vladimir Putin, while praising President Donald Trump's more constructive engagement with President Volodymyr Zelensky. Volker says Ukraine's battlefield innovation and sustained pressure on Russia are shifting the conflict's momentum, though he warns Putin remains committed to the war and is unlikely to negotiate without greater leverage.

Bloomberg Intelligence senior commodities strategist Mike McGlone says oil markets are largely accepting US assurances that the Strait of Hormuz remains open, with expanding Western Hemisphere supply and alternative export routes limiting the long-term impact of Gulf disruptions on crude prices. He says gasoline and diesel prices remain elevated because refining margins have widened, but expects crude oil prices to trend lower over time as global supply grows and demand softens.

Chief of Naval Operations Adm. Daryl Caudle says NATO's naval alliances remain strong as the US shifts more responsibility to allies while focusing on capabilities only the US Navy can provide. He says the Navy is accelerating autonomous systems, preparing for growing competition in the Arctic and protecting global sea lanes as critical priorities for US national security.

Bloomberg Intelligence analyst Herman Chan says major US banks are poised to report strong earnings, driven by trading, investment banking and resilient lending, with investors focused on consumer health, credit quality, net interest margins and AI-related financing activity. Investopedia editor Caleb Silver says Netflix is expanding beyond streaming into advertising and short-form content as investors look for signs the company can sustain growth and define its next phase.