HSBC is studying options for its consumer banking business in Australia including a potential sale as the bank looks to further slim down its operations, according to people with knowledge of the matter.
Australia will introduce a new green aluminum production credit to assist smelters to switch to renewable electricity by 2036, the latest move by the center-left Labor government to bolster investment in domestic manufacturing.
Star Entertainment said its future as a viable business is in doubt as the embattled Australian casino operator struggles to raise capital. The company is exploring ways to improve liquidity, but has limited ability to raise A$150 million of subordinated debt, a key condition for accessing further borrowings.
Asia’s private credit market faces diverse challenges in 2025 after fundraising dropped 34% to an eight-year low of $5.4 billion in 2024, with concerns over China’s ailing growth hitting sentiment.
The growth of electric vehicles and petrochemical exports in China may not necessarily translate to increased demand for crude oil, and oil producers should be cautious in relying on China as a key customer, writes Bloomberg Opinion’s David Fickling.
What happened overnight
Donald Trump was sworn in as president and outlined plans to overhaul US immigration, trade, tax, and energy policy in his inaugural address. For now, those will not include new tariffs on the three biggest US trading partners. US equity futures rose, while the dollar slumped.
John Roberts, chief justice of the US Supreme Court, administers the oath of office to US President-elect Donald Trump Photographer: Julia Demaree Nikhinson/AP Photo
Former President Joe Biden granted blanket pardons to five family members in the last hour of his presidency, the final acts of clemency that also included sweeping pardons for members of Congress who investigated Trump’s role in the assault on the Capitol four years ago.
Chinese officials are taking steps to stabilize operations at China Vanke Co. after deepening liquidity stress and questions surrounding the whereabouts of its top executive triggered turmoil for its bonds and shares last week, according to people familiar with the matter.
What to watch
All times Sydney
New Zealand December card spending, 8:45 a.m. Sydney
One more thing...
A large study of diabetes and obesity drugs, including Ozempic and Mounjaro, found they may have benefits for the brain, including reducing addiction and schizophrenia. The findings support ongoing research into the medicines' potential for treating opioid- and cocaine-use disorders.
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