Prime Minister Anthony Albanese held a meeting of state and territory leaders on Tuesday to tackle a wave of antisemitic attacks across the country, the latest involving the suspected firebombing of a childcare center in Sydney. Federal Police Commissioner Reece Kershaw said his team are investigating whether overseas groups are involved in the incidents.
BHP’s copper output surged 17% in its second quarter, taking up some of the slack from its traditional asset base iron ore which was largely unchanged amid softening demand.
Core samples at BHP Group Ltd.’s Oak Dam exploration hub in Kokatha, South Australia. Photographer: James Bugg/Bloomberg
Quinbrook Infrastructure Partners closed a A$722 million new debt financing for the first two stages of a battery storage project in Australia. The Supernode battery in Queensland will have a capacity of 520 megawatts for its first two stages, and is one of the biggest projects in the country.
Australia Day is just around the corner, and the debate over whether or not the date of the national holiday should be moved is showing no signs of abating. On Bloomberg TV's Australia Ahead Rachel Busbridge of the Australian Catholic University discusses how the conversation has shifted among national bodies and businesses.
Photographer: Bloomberg
Morgan Stanley is raising bonuses for some of its top investment bankers in Asia by as much as 40% this year after a jump in revenue, according to people familiar with the matter. Top performers in markets including India and Australia are set to receive increases of 30% to 40%, the people said.
What happened overnight
Stocks climbed on Tuesday as President Donald Trump struck a better-than-feared tone on trade and speculation grew that his policies will further boost Corporate America. More than 400 shares in the S&P 500 rose, with the gauge up almost 1% as Trump is expected to announce a new investment push for artificial intelligence.
US President Trump will be joined by Softbank’s Masayoshi Son, OpenAI’s Sam Altman, and Oracle’s Larry Ellison at the White House to announce an initial $100 billion investment in artificial intelligence — which could scale up to $500 billion over the next four years — on Tuesday afternoon, according to an official. Oracle’s shares jumped about 6% on the news. The company’s stock is up about 56% over the past year.
US President Donald Trump attends the Nation Prayer Service at Washington National Cathedral in Washington, DC. Photographer: Jabin Botsford/The Washington Post
Chinese Vice Premier Ding Xuexiang said China will expand its imports, hours after US President Donald Trump left the economy out of countries he’s looking to hit with tariffs imminently. “We don’t seek trade surplus,” Ding said on Tuesday at the annual World Economic Forum in Davos, Switzerland.
South Korean PresidentYoon Suk Yeol denied wrongdoing as he branded himself as a firm believer in democracy in his first appearance at an impeachment trial looking into his shocking and brief imposition of martial law last month.
The new US president’s second inaugural address on Monday was in keeping with the spirit of the man, writes Bloomberg Opinion’s Timothy L. O’Brien.
What to watch
All times Sydney:
• 8.45 a.m.: New Zealand releases its CPI for the fourth quarter
One more thing...
The champagne industry has very little to celebrate at the moment, with shipments dropping for a second straight year in 2024. Fewer shoppers are splashing out on the French bubbly amid a broader slowdown in luxury spending, which saw total shipments fall 9.2% from a year earlier to 271.4 million bottles, data compiled by Comite Champagne showed.
Photographer: David Paul Morris/Bloomberg
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