All the top moves, shakes and red hot takes from Azzet's editorial team are right here in your weekly business wrap every Friday (11 July, 2025).
It was a financial news week filled with interest rate decisions, crippling tariffs, new political parties, bans, mergers, sell-offs, surveys, switches, sales, openings, partnerships, white-knuckle rallies, and rulings.
Azzet's senior business team of Garry West, Mark Story and Cameron Drummond helped steer our coverage, along with finance journalist Oliver Gray and reporters on deck, Harlan Ockey and Chloe Jaenicke.
And we begin our weekly wrap-up with an interest rate decision that surprised (mostly) everybody.

DON'T BANK ON IT
The Reserve Bank of Australia (RBA) surprised financial markets on Tuesday by not cutting the official cash interest rate. The decision to leave rates unchanged was unexpected because the market had factored in a 25-basis point reduction to 3.60%.
Rates may not fall by as much as in other countries, RBA Governor Michele Bullock said after the announcement. Meanwhile, Australian Treasurer Jim Chalmers stopped short of criticising the RBA’s split decision to keep interest rates on hold, but acknowledged it was a surprise for Australians and financial markets. Compare the Market urged homeowners to negotiate rate cuts or switch to cheaper rates to save.
In West's regular Super Nation column, he tracked a review by Mills Oakley that found many superannuation funds fall short of the Retirement Income Covenant, introduced in 2022 to improve outcomes for retirees.
Of the 80 APRA-regulated funds assessed, many lacked strategic alignment and failed to publish meaningful summaries. Larger funds fared better, while smaller ones often met only basic requirements.
In other super news this week:
- Super Shines: Double-digit gains defy market noise
- Almost half of Australian small businesses skip super dues
- White-knuckle rally lifts super returns, volatility up
- A third of older Australians oppose a higher super tax

FROM THE STORY BOOK
Despite strong demand and government backing, Australia’s ASX-listed childcare sector remains overlooked by investors, writes Mark Story.
After receiving a $15 million interest-free loan through the WA Government’s Lithium Industry Support Program, Federal Resources Minister Madeleine King and WA Mines Minister David Michael officially opened Liontown Resources' (ASX: LTR) Kathleen Valley lithium operation - Australia’s first underground lithium mine.
At face value, United States President Donald Trump’s 900-page US$3.4 trillion tax-and-spending package - aka the Big Beautiful Bill Act - which narrowly passed the U.S. House in a 218-214 vote last week - with all but two Republicans supporting it - appears to be serially unpopular.
The Port of Newcastle’s new long-dated, high-yielding, fixed rate bond note is expected to attract retirees looking for certainty of income.
Europe could be a lot closer to directly engaging in war with Russia, with the trading bloc’s largest port, Rotterdam, having already begun preparing for such an eventuality.
Major private equity firms and industry players are understood to have expressed takeover interest in Starbucks China in a deal that could potentially value the entity at up to US$10 billion.
In the first half of 2025 fundraising from London IPOs collapsed to lows unseen in over 30 years.
The Trump administration will start restricting purchases of farmland from Chinese nationals and other “foreign adversaries”.
PEXA’s latest Buyer Deposits report reveals that while major banks continue to dominate, smaller banks now account for a little under half of all new residential mortgages.
And just hours after being sacked from his post by Russia’s President Vladimir Putin, transport minister Roman Starovoit was found dead in his Tesla in Odintsovo near Moscow, with the pro-government newspaper Izvestia claiming the fatal gunshot wound was self-inflicted.
On the Trading Floor: Lifestyle Communities ( ASX : LIC) | BPM Minerals ( BPM) | Telix Pharmaceuticals (TLX) | Botanix Pharmaceuticals (BOT) | Alkane Resources (ALK) | DigitalX (DCC) | South32 (S32) | Nanosonics (NAN) | Bellevue Gold (BGL) | Imagion Biosystems (IBX) | Tivan (TVN) | White Cliff Minerals (WCN) | Johns LYNG Group (JLG) | Ora Banda (OBM) | Ventia Services Group (VNT).

GO WEST
Surgeons remained the highest earning Australians with an average income of $472,475 in 2022/23, according to the Australian Taxation Office’s Individuals statistics for Taxation statistics 2022–23, writes Garry West.
TPG Telecom has cleared the final regulatory hurdle to completing the $5.25 billion sale of its fixed line infrastructure to Vocus Group with the transaction receiving Australian Government approval.
Investment manager Firetrail Investments has demonstrated sweet timing and generated an annualised return of more than 2,200% by selling a small proportion of the shares it bought the same day in recently-listed GemLife Communities.
The companies hoping to buy Star Entertainment’s 50% stake in the new Brisbane casino and entertainment complex have insisted that the cash-strapped company pay them $36.5 million if they cannot agree on the deal by 31 July.
NVIDIA has become the first company valued at US$4 billion (A$6.14 trillion).
Formula One racing team Red Bull sacked its boss Christian Horner after 20 years as team principal.
Food and beverage executive Kirk Tanner is jumping from international fast food chain The Wendy's Company to chocolate producer The Hershey Company.
At a time when Australia is on a headlong rush to transition its energy sources from coal to renewables, a new report has revealed some Australian solar farms may have to switch off up to two-thirds of the power they generate.

DRUMMOND UP BUSINESS
The battery metals market focus has quietly shifted in 2025 so far, with nickel overtaking lithium as the most valuable raw material for electric vehicles, writes Cameron Drummond in his regular Mission Critical column.
America just made its boldest move yet to break China's stranglehold on magnetic rare earths (REE) materials, with the Pentagon purchasing US$400 million of MP Materials stock to become the miner's largest shareholder.
Global copper markets reeled as Trump announced his intention to impose a 50% tariff on copper imports during a cabinet meeting on Tuesday, sending shockwaves through supply chains and triggering the metal's highest single-day gain since 1989.
McKinsey research into long-term investor thought processes led by Denver partner Tim Koller reads like a comfortable bedtime story for the investment class - yet the realities of today's long-term shareholder sentiment are anything but that.
Meta (NASDAQ : META) has snapped up just under 3% of EssilorLuxottica for a cool US$3.5 billion, doubling down on its AI-powered smart glasses ambitions as the tech giant looks to control more of its hardware pipeline.
Amazon's Prime Day sale has evolved from a mid-year marketing gimmick into a legitimate economic indicator, rivalling Black Friday's significance in gauging consumer sentiment and spending patterns.
CoreWeave will acquire Core Scientific and its data centres in a US$9 billion all-stock transaction, marking the largest deal in the ongoing shift from cryptocurrency mining to artificial intelligence infrastructure.
Trump has dramatically escalated his trade offensive against America's closest Asian allies, imposing 25% import tariffs on all goods from Japan and South Korea - part of the latest swathe of levies placed on goods from countries around the world.
Washington last month may have handed Wall Street a loaded gun with the Senate's 68-30 passage of the GENIUS Act on 17 June, weaponising stablecoins rather than simply regulating them.
The BRICS+ summit kicking off in host nation Brazil has been overshadowed by United States President Donald Trump's global tariff measures and the notable absence of two key nations' leaders.
Weak guidance, compounded by increased costs and capital expenditures (capex) have been revealed in Northern Star Resources' (NST) operational update, with its underperforming Kalgoorlie Consolidated Gold Mines (KCGM) operation the main culprit.

ELSEWHERE ON AZZET THIS WEEK
- In an era where every scroll is sponsored and influencers often come with a fee, it’s tempting to believe that attention can be entirely bought. Nikki Collins, co-founder of Mojo PR explains why earned media still matters in a paid-first world.
- Australia processed nearly 8.8 million cattle in the past financial year - the second-highest total since 1978-79 - driven by climate-induced herd management shifts.
- Samsung Electronics has forecast a 56% year-on-year plunge in second-quarter operating profit to ₩4.6 trillion (US$3.3 billion), sharply undercutting LSEG’s smart estimate of ₩6.26 trillion. Revenue is projected at ₩74 trillion, also below expectations of ₩75.55 trillion.
- WA mining services company Mineral Resources has appointed Lawrie Tremaine and Ross Carroll as independent non-executive directors, effective 7 July, in a move aimed at reinforcing governance and financial oversight.
- Israel's Defense Minister Israel Katz has announced a sweeping plan to relocate Gaza’s entire civilian population into a sealed “humanitarian city” to be constructed on the ruins of Rafah.
- Dubai has emerged as the global epicentre of branded residences, with the sector expanding 160% over the past decade and more than 140 new projects expected by 2031.
- A Liberian-flagged, Greek-owned bulk carrier, Magic Seas, was abandoned by its crew after sustaining heavy damage from a coordinated maritime assault southwest of Yemen’s Hodeida port.
- The second annual Esports World Cup kicked off in Saudi Arabia, as the kingdom steps up its gaming investments.
- Linda Yaccarino, CEO of X, has said she will leave the company after two years at the helm.
- Confectionery company Ferrero has done a deal to acquire cereal maker WK Kellogg, with WK Kellogg shares surging by 56%.
- L1 Capital has entered into a merger deal with Platinum Asset Management, creating a A$16.5 billion investment manager.
- The U.S. plans to add new tariffs of 50% on copper and 200% on pharmaceuticals, Trump said.
- BHP must pay labour hire workers the same wages as permanent employees at three Queensland mines, the Fair Work Commission has ruled.
- Twitter co-founder Jack Dorsey has launched Bitchat, a new messaging app that operates over Bluetooth networks.
- New vehicle sales in Australia rose by 2.4% year-over-year in June, as utes and SUVs dominated the market.
- OPEC+ will significantly increase oil production in August, extending its streak of output hikes.
- Tesla billionaire, Elon Musk said he will be stepping back into politics by creating the “America Party”, which he claims will give Americans their freedom back.
- F1: The Movie, starring Brad Pitt, generated US$293 at the global box office after 10 days of release, overtaking Napoleon, which generated US$221 million, as Apple’s highest-grossing movie to date.
- The world’s largest Legoland Resort has opened in Shanghai with 75 interactive rides and 250 hotel rooms.
- French President Emmanuel Macron visited the United Kingdom's King Charles at Windsor Castle, becoming the first French President to do so since 2008 and the first by a European Union political leader since Brexit.
- Aldi has partnered with DoorDash to usher in a long-awaited grocery delivery service.
- Corporate Traveller has revealed that business travellers prioritise speed, comfort and productivity on their stopovers when travelling.
- A new Quebec tourism ad has Americans emotional as it welcomes them to the city.
- Leaked audio has been released of Trump threatening to “bomb the s—- out of Moscow” if Putin invades Ukraine.
- China has expanded its visa-free entry policy to a record 74 countries, allowing tourists to visit the country for up to 30 days without a visa, marking a relaxation of border controls as Beijing seeks to boost tourism and stimulate the economy.
- Australian scientists, including those at the University of Sydney’s Charles Perkins Centre, have developed a breakthrough system dubbed PROTEUS (PROTein Evolution Using Selection), which applies biological artificial intelligence to design and evolve molecules directly within mammalian cells.
- Australia’s business sector showed signs of renewed momentum in June, with National Australia Bank’s Monthly Business Survey revealing strong gains in both business confidence and conditions.
- United States Federal Reserve officials remained split at their June meeting over how soon and how significantly interest rates should be reduced, as concerns over tariff-induced inflation clashed with signs of a cooling labour market and resilient economic growth.
- Business turnover in Australia ticked 0.1% lower in May 2025, marking the first monthly decline since October last year, according to data released by the ABS.
- The U.S. dollar index steadied in early deals on Monday following two weeks of declines, finding support from resilient labour market data and repriced expectations around the Federal Reserve’s rate path.
- Levi Strauss & Co. (NYSE: LEVI) reported robust financial results for the second quarter of fiscal 2025. While Delta Air Lines beat estimates on earnings per share and revenue last quarter, as U.S. travel demand shows signs of stabilising.
- And Australia’s biggest magazine publishing house, Are Media, has confirmed it is looking for a buyer.
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