Australia Breaking News

For the 4th of July, the Hudson River will have both the Naval Review and 'Sail4th 250' to celebrate the day. Retired Naval Vice Admiral Kevin Donegan and Rutgers University-Newark Professor of American Studies Robert Snyder join Bloomberg This Weekend to discuss the historical significance of the Hudson River in American independence.

To celebrate America's 250th anniversary Bloomberg This Weekend is broadcasting Live from across New York City. David Gura and Christina Ruffini are on the Hudson River at the Intrepid Museum for the Navy Review and the tall ships parade, 'Sail4th 250', while Lisa Mateo is at Nathan's Famous Hot Dogs in Coney Island, home of the annual 4th of July hot dog eating contest. The team are joined by Bloomberg News White House Correspondent Jeff Mason who is at the White House reporting on how 'Freedom 250' plans have been affected by the heat.

• The Australian Government plans to double the maximum financial penalty for systematic breaches of its under-16 social media law to $99 million.
• The regulatory crackdown targets age-verification compliance and data transparency across five of the world's largest digital communication and media platforms.
• Rising compliance costs and potential multi-million-dollar fines create an escalating operational risk for global tech giants operating within regional jurisdictions.

UK pubs will be allowed to stay open for Monday's early morning match, but the overall benefit of the World Cup will likely be short-lived. Bloomberg's Sam Unsed discusses on "The Opening Trade."

Ludovic Subran, chief investment officer and chief economist at Allianz, says there isn't enough evidence to say that the AI trade is in "bubble" territory. Speaking to Bloomberg's Caroline Connan at the Aix-en-Provence Economic Forum in France, he also says emerging-market stocks are looking more attractive due to demand for semiconductors, and that Europe might fail to reap the "AI dividend."

Anna Edwards, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." For up to the minute market intelligence and insight, click MLIV <GO>.

Jordan Rochester, Mizuho FICC strategy EMEA head, discusses sharp moves in the yen. "From all the frameworks, dollar-yen should be lower," he tells Bloomberg Television. He adds there has been a change in behaviors in the Japanese space and the yen is not behaving like a G10 currency. "It trades like an EM in terms of its correlation to rates," Rochester says.

Semiconductor stocks started 3Q with their worst two-day selloff in nearly a month. The Philadelphia Stock Exchange Semiconductor Index, which is coming off its best quarter ever with an 88% advance, fell as much as 6% on July 2. Richard Windsor, Founder of Radio Free Mobile spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the stocks performance.

French Finance Minister Roland Lescure discusses the nation's budget deficit, bond markets and the outlook for next year's presidential election. He talks with Bloomberg's Caroline Connan at the Aix-en-Provence Economic Forum in France.

Toyota led the Australian vehicle market to an all-time monthly record of 140,058 sales in June.

The Reserve Bank of Australia staff rejected a proposed 9.5% pay rise offer over three years.

Commonwealth Bank of Australia (ASX:CBA) has eliminated 170 roles from its technology division as part of an ongoing restructuring process.