Australia Breaking News

US consumer spending accelerated in May even as prices rose at the fastest pace in more than three years. Inflation-adjusted consumer spending rose 0.3% from a month earlier. The personal consumption expenditures price index rose 4.1% last month from a year earlier. Enda Curran reports.

Bill Dudley, former New York Fed President and Bloomberg Opinion columnist, says streamlining the Federal Open Market Committee's policy statement is appropriate, but Federal Reserve Chairman Kevin Warsh needs to make changes with greater care than he has shown to date. Dudley says Warsh may risk confusing markets and the central bank itself. His opinions are his own.

The US Senate rejected a resolution to end the war with Iran as two Republicans flipped their votes hours after President Donald Trump confronted GOP senators for backing an earlier resolution to end the conflict. Kate Ackley of Bloomberg Government has more.

Dubai Holding is exploring an investment in private equity-backed data center builder Hscale, Alex Dooler reports.

Sebastian Raedler, head of European equity strategy at Bank of America, discusses his concern that the tech rally is overdone after US chipmaker Micron gained on a blockbuster sales forecast. "Who is going to pay for this capital expenditure that is basically fueling the Micron demand," Raedler asks during an interview on Bloomberg Television.

Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

Aumovio's negotiations to secure memory chips for next year are proving difficult as artificial intelligence companies consume supplies of the key components. That's according to Jutta Doenges, chief financial officer of the German auto supplier, who spoke with Bloomberg Television anchor Anna Edwards at the Bloomberg New Voices event in Frankfurt on June 24.

Micron Technology Inc. surged in late trading after its quarterly sales forecast crushed Wall Street estimates, signaling that an AI-fueled growth run remains strong. The largest US maker of computer memory chips, said revenue will be approximately $50 billion in the fiscal fourth quarter, which runs through August. Bloomberg's Ruhell Amin breaks down the numbers.

Goldman economist Farouk Soussa talks about why the Strait of Hormuz doesn't need to come back to 100% for the full amount of oil from the Gulf to come back into the market, and the longer-term outlook for crude amid the US-Iran negotiations.

Dhruv Arora, Founder & CEO at Syfe, discusses the investment platform's expansion plans and retail investor sentiment. He speaks on "Bloomberg: The China Show."

Becky Liu, Head of Greater China Strategy and Asia Rates at Standard Chartered Bank, discusses China's central bank policy shift. She speaks on "Bloomberg: The China Show."

SunRice Group (ASX:SGLLV) announced a 4% increase in its full-year net profit after tax to $73.3 million for FY26.