| ANZ is to pay a A$240 million fine after admitting to “unconscionable conduct” by incorrectly reporting bond trading data to the Australian government, said the Australian Securities & Investments Commission. The lender overstated trading volumes by “tens of billions of dollars” and engaged in “widespread misconduct” across products and services impacting nearly 65,000 customers, according to a statement from ASIC. Australia will spend A$12 billion on a defense hub to build naval ships and dock nuclear submarines, Prime Minister Anthony Albanese announced Sunday, as Canberra seeks to bolster US backing for the Aukus pact. The funding commitment is for the development of the Henderson defense precinct, south of Perth. Denis Shtengelov built his company from the streets of his Siberian hometown more than 30 years ago into a global confectionery empire with billions of dollars in revenues. Now the tycoon, worth at least $2.6 billion according to the Bloomberg Billionaires Index, is at risk of losing a big part of his fortune. Russian prosecutors are targeting his KDV Group, one of the country’s largest snack producers, for expropriation. They argue companies tied to the entrepreneur, who now appears to live in Australia, supplied Ukrainian forces with food, according to an Interfax report. Australia is on track to overshoot its 2030 rooftop solar targets, with enthusiasm for panels and batteries offsetting drops in broader renewable investment and large projects. About 27 gigawatts of rooftop solar had been installed by homes and small businesses by end-June, the Clean Energy Council said. That is set to rise to 37.2 gigawatts by the middle of 2030, beating the nation’s target by more than 4%, the renewable energy advocacy group said. Australia’s dollar may extend its rally into the end of the year on narrowing interest-rate differentials with the US and Chinese stimulus. The Aussie has advanced 7.7% so far this year, to 2025 highs around 0.6669 on Friday. Societe Generale and Westpac see it touching 0.6800 by the end of December. Though the call is also dollar-dependent, the greenback is weighed by concerns around inflation and the labor market. | 
