Morning business roundup

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Read a sample of the Morning Business Roundup from today.

Market Reports

  • Australian Market Report: The benchmark S&P-ASX200 index closed Monday up 48.4 points to 6772.5, while the broader all ordinaries was up 43.8 points to 6877..... [more]

  • U.S. Market Report: Wall Street’s main indexes fell on Monday, as prospects of a quick resolution to the U.S.-China trade war dimmed following comments from President Donald Trump, while escalating violence in Hong Kong added to the downbeat sentiment..... [more]

  • North/South Americas Market Report: North and South American markets are mixed. The Bovespa is higher by 0.21%, while the S&P 500 is leading the IPC lower. They are down 0.23% and 0.05% respectively..... [more]

  • European Market Report: European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.07%, while the FTSE 100 led the DAX lower. They fell 0.42% and 0.23% respectively..... [more]

  • Asian Market Report: Asian markets finished broadly lower today with shares in Hong Kong leading the region. The Hang Seng is down 2.71% while China's Shanghai Composite is off 1.83% and Japan's Nikkei 225 is lower by 0.26%..... [more]

Australian Business News

  • Record fall in petrol prices Chinese tourists at record highs.... [more]

  • Australia's states are growing closer to China as the federal relationship remains strained.... [more]

  • Banking regulator chairman Wayne Byres says the damage to the big four banks' reputations unleashed by the Hayne royal commission is feeding into a "slow but steady" decline in their market dominance..... [more]

  • Mayfair 101 launches new fixed interest investment product to meet growing demand for non-bank alternatives.... [more]

  • Aluminium prices slipped from a near two-month peak on Friday as analysts warned that producers were on the sidelines ready to hedge..... [more]

  • China’s Suzhou TA&A Ultra Clean Technology Co takes $14m stake in lithium miner AVZ Minerals.... [more]

  • BHP Group’s petroleum division head says the business is set to deliver strong returns and cash flow through the 2020s and beyond, supported by a raft of high-potential projects..... [more]

  • Mining giant BHP is considering a potential sale of its assets in Victoria's Bass Strait oil fields as its Australian oil and gas production continues to decline and the global move towards electric vehicles weighs on long-term demand..... [more]

  • Pilbara Minerals goes into trading halt after site ‘incident’.... [more]

  • Panoramic Resources in trading halt ahead of operational update from Savannah project.... [more]

  • Perth-based Perenti starts evacuation of African Mining Services staff after terror attack in Burkina Faso kills 19, wounds 26 of its workers.... [more]

  • Norwest Energy receives $3.25 million in placement commitments to fund Perth Basin exploration drilling.... [more]

  • An environmental time bomb is ticking in Australia's northern waters and taxpayers might be forced to stump up $200 million to defuse it. In July, regulators shut down one of the country's biggest offshore oil platforms, the Northern Endeavour, after finding it riddled with rust, lacking a proper fire suppression system and "risks of a major accident event occurring"..... [more]

  • Big dry bites as Elders' FY profit dips 4%.... [more]

  • Drought communities cry out for help, as debate rages over best way forward. Graziers and business owners in one of Australia's longest drought-declared towns, north-west Queensland's Hughenden, say the harmful levels of debt are crippling the economy..... [more]

  • Bubs Australia goat milk formula is set to hit shelves in Vietnam after the company struck a distribution deal with the country's flagship mother and baby store chain, BiboMart JS Company..... [more]

  • THC Global to start manufacturing at Southport cannabis facility after key approval.... [more]

  • EML Payments is buying Prepaid Financial Services in a deal that valued the London-based firm at about $423 million..... [more]

  • Real estate classifieds group Domain will pay up to $35 million for the operator of digital property service Real Time Agent..... [more]

  • Sensen Networks gains a new substantial holder in JM Financial Group.... [more]

  • Coles signs private label deal with UK supermarket Sainsbury’s. The “white label” arrangement, which the UK firm says is its biggest wholesale deal yet, will see Coles sell a new range of packaged food, household, health and beauty products from early next year..... [more]

  • Opinion/Analysis - Elizabeth Knight: Iron ore's price party is over, and everyone's guessing what the hangover will look like.... [more]

  • Analysis - Ian Verrender: Valuations and value could have a serious impact on how much super you really have. Here's why.... [more]

World Business News

  • The US's historic economic expansion has so enriched one-percenters that they now hold almost as much wealth as the middle- and upper-middle classes combined. The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more than half of the equity in US public and private companies, according to data from the Federal Reserve..... [more]

  • The world's billionaires lost a total of $388 billion in 2018.... [more]

  • 'I haven't agreed to anything': Trump throws cold water on China trade deal.... [more]

  • The executive in charge of Facebook’s cryptocurrency projects said he sees bitcoin as “digital gold,” and while its extreme volatility remains an obstacle to it being used as a medium of exchange, it “serves a completely different purpose.”.... [more]

  • Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street’s ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company..... [more]

  • Uber CEO Dara Khosrowshahi has reportedly tried to clarify his description of journalist Jamal Khashoggi's murder as a "mistake" by the Saudi government..... [more]

  • Uber's Kalanick sells 21% of his stake after share lockup expires.... [more]

  • Occidental Petroleum Corp is soliciting bids for oil and gas properties in Wyoming and Colorado that it acquired when it purchased Anadarko Petroleum, hoping the assets will fetch up to $700 million, according to people familiar with the matter..... [more]

  • The pound jumped on Monday, hitting a six-month high versus the euro and posted its biggest daily rise in nearly a month against the greenback after the Brexit Party said it would not contest previously Conservative held seats in the UK’s election..... [more]

  • UK economy grows at slowest annual rate in a decade as election looms.... [more]

  • Boeing now says it expects 737 MAX to resume commercial service in January.... [more]

  • Chinese firm Jingye says will invest £1.2bn in British Steel as it signed a deal to rescue the UK steelmaker..... [more]

  • China’s Jingye Group is in talks over a potential deal to buy British Steel, a company spokeswoman confirmed Monday, as the struggling industrial group seeks new owners..... [more]

  • UK building sector hit by surge in insurance costs after Grenfell fire.... [more]

  • Prime Minister Pedro Sánchez’s Socialists won Spain’s national election on Sunday but large gains by the upstart far-right Vox party appear certain to widen the political deadlock in the European Union’s fifth-largest economy..... [more]

  • Alibaba's Singles' Day sales hit $30 billion, on track for record.... [more]

  • Singles’ Day filters through China’s economic gloom. Alibaba’s 24-hour extravaganza adds a sprinkle of stardust to slowing consumer spending.... [more]

  • Trundling into trouble: Singapore targets e-scooters after accidents.... [more]