Australia Briefing
Good morning, it’s Carmeli in Sydney here to bring you all the latest news to start your day. Earnings season continues, with Woolworths and
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Good morning, it’s Carmeli in Sydney here to bring you all the latest news to start your day. Earnings season continues, with Woolworths and Domino’s Pizza due to report today. But first…

Today’s must-reads:

  • Jack Cowin, at 83, has lofty goals for Australia’s Domino’s
  • Kogan.com’s CEO uses AI to present earnings results
  • Fed Governor Lisa Cook prepares to challenge Trump

What's happening now

Billionaire Jack Cowin built a fast-food empire by bringing fried chicken to 1960s Australia. Now, at 83, he’s back to attempt a turnaround of the biggest Domino’s Pizza franchisee outside the US. Domino’s stock has plunged 88% from its peak four years ago as rising costs and heightened competition eroded its market share. 

When Kogan.com founder and Chief Executive Officer Ruslan Kogan presented the online retailer’s results at its briefing on Monday, he decided to use an AI-generated version of his voice. Using AI-generated voices for delivering the presentation meant the two executives could spend that half-hour working on something else, he said.

Australia's central bank is rebuilding its Sydney headquarters after discovering the 1960s-era building is riddled with asbestos. The project is being plagued by delays and cost blow outs due to the nation’s complex construction regulations, mirroring dysfunction in the wider housing industry.

The US, UK and Australia’s trilateral defense partnership is at an “inflection point,” and all three must redouble efforts to ensure its success, a Washington-based think tank said. The Center for Strategic & International Studies called the Aukus pact a bold “strategic declaration,” but concerns about its viability have grown.

Australia’s surging stock market keeps breaking record after record — but it’s proving ruthless toward any missteps. On Bloomberg TV's Australia Ahead we take a look at Australia’s earnings season so far with Elfreda Jonker, client portfolio manager at Alphinity Investment Management. Click the image to watch.

Australia has severed diplomatic ties with Iran following credible intelligence that Tehran directed at least two antisemitic attacks in the country. Prime Minister Anthony Albanese’s government gave Iranian Ambassador Ahmad Sadeghi seven days to leave Australia in the first such expulsion since World War II.

Australia’s central bank board expects to lower interest rates further over the coming year to meet its policy objectives, with the pace of decline likely to hinge on economic data, minutes of its Aug. 11-12 meeting showed. The Reserve Bank lowered its key rate to 3.6% at the meeting — a level it described as “still somewhat restrictive.”

Australia’s corporate regulator said it will boost surveillance of private markets as it targets areas of financial services that present the greatest risks. Ongoing key areas of focus include insider trading and systemic compliance failures by large financial institutions, according to the Australian Securities and Investments Commission.

What happened overnight

Here’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping…

US stocks eked out gains before tech behemoth Nvidia Corp. releases its results. Indexes were fueled higher by falling short-end yields which in turn weighed on the dollar. Aussie and kiwi edged higher. Longer-dated Treasury yields rose as President Donald Trump’s push to remove Federal Reserve Governor Lisa Cook fueled concern about central bank independence and inflation risks. Australia has a monthly inflation reading to consider in light of Tuesday’s somewhat dovish RBA August meeting minutes. ASX futures point to a bullish start for local equities.

Federal Reserve Governor Lisa Cook vowed to fight Trump’s move to oust her from the central bank following allegations that she falsified mortgage documents. Experts are warning that the president’s increasing attacks on the Fed may backfire by hitting financial markets and the economy with higher long-term borrowing costs.

Lisa Cook, governor of the US Federal Reserve, during the Federal Reserve Board open meeting in Washington, DC, US, on Wednesday, June 25, 2025.  Photographer: Al Drago/Bloomberg

Indian Prime Minister Narendra Modi announced a cut to consumption taxes, taking many of his own officials by surprise, as bureaucrats were still several months away from making an announcement.

Emmanuel Macron pushed back on Tuesday against claims by Israeli Prime Minister Benjamin Netanyahu that the French president was abetting antisemitism by planning to recognize a Palestinian state.

What to watch

  • Earnings results including Woolworths, Domino’s Pizza Enterprises and WiseTech
  • Australia monthly CPI Indicator for July at 11:30am

One more thing...

Social media has become an unlikely conduit to the remote mineral and metal mines in Australia’s deserts, with more and more fly-in, fly-out (FIFO) workers gaining prominence as internet influencers. Australia issued 1,414 second-year working holiday visas (essentially, renewals) to foreigners with jobs in the mining sector in the 12 months through June 2024, up from fewer than 500 a year earlier.

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