Australia Breaking News

On this episode of Stock Movers with Alexis Christoforous: - US chipmaker Onsemi (ON) has agreed to buy Synaptics (SYNA), a firm that specializes in semiconductors for smart devices, in an all-stock deal that values the company at about $6.2 billion. - Rocket Lab (RKLB) shares rise as the space firm says NASA selected it to provide three Electron launches for two missions, PolSIR and TSIS-2, from early 2027. - Microsoft (MSFT) shares are down, with the software giant extending a recent selloff. The stock is down more than 20% this month, putting it on track for its biggest one-month percentage drop since December 2000

Anastasia Amoroso, chief investment strategist at Partners Group, discusses the recent volatility in tech stocks with Dani Burger on "Bloomberg Open Interest."

Oil resumed its decline and headed for the biggest weekly drop in a month after transits through the Strait of Hormuz accelerated following an attack on a cargo ship. Tyler Kendall reports on Bloomberg Television.

The global economy will see $1 trillion of losses per year by 2050 if we don't adapt to changing climate patterns says Sarah Kapnick, Global Head of Climate Advisory at JPMorgan. She sees this leading to a 'structural investment trend' which will see more investment in the power grid and energy transition, especially geothermal and nuclear energy. She spoke to Bloomberg's Lizzy Burden on "The Pulse."

Cameron Dawson, CIO at NewEdge Wealth, says the "huge surge in leverage" seen across markets "in order to chase the rally" is beginning to contribute to volatility.

SoftBank Group's stock tumbled the most since August 2024 after reports that OpenAI may hold off on an initial public offering until next year, delaying returns for its Japanese backer. Neil Campling reports on Bloomberg Television.

Volkswagen is looking to cut tens of thousands of additional jobs and may shutter factories in a push by CEO Oliver Blume to make Europe's biggest automaker more competitive, according to a report in Manager Magazin. Bloomberg's Elisabeth Behrmann has more.

Christian Mueller-Glissmann, managing director for portfolio strategy and asset allocation at Goldman Sachs, discusses the tech selloff and why he thinks it could make sense to diversify away from semiconductor makers and lean more toward hyperscalers. "These are incredibly cyclical companies," Mueller-Glissmann tells Bloomberg Television. "So to some extent, it could make sense to diversify a bit away from them."

Johannesburg halted some essential services because it can't pay for fuel. The crisis adds to the financial woes of a metropolis of 4.8 million people, with the municipality mired in corruption scandals and unable to provide basic services. Bloomberg's Jennifer Zabasajja reports from Johannesburg.

Anna Edwards, Tom Mackenzie and Ven Ram break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

West Wits Mining (ASX:WWI) has repaid in full its US$12.5 million Nebari loan facility, removing associated security and obligations and satisfying the final condition precedent to financial close of a ZAR 875 million (~US$53 million) senior loan facility with Absa Bank and Nedbank CIB.

South Korean stocks were hit by a second trading suspension this week as chipmakers plunged, highlighting the market's sensitivity to swings in global artificial-intelligence sentiment. The benchmark Kospi extended losses after the Korea Exchange's 20 minute trading halt, falling as much as 9%. Bloomberg's Anthony Stephens reports.