The financial world never sleeps, and neither do the headlines. From central bank manoeuvres to corporate shake-ups, this week delivered the kind of market-moving news that keeps traders glued to their screens and economists reaching for stronger coffee.
National interest rates
Australia's Reserve Bank delivered what markets had been crying out for - a 25 basis point cut to 3.60%, marking the first reduction since May and bringing total cuts this year to 75 basis points.
The unanimous decision came after July's surprise hold left traders licking their wounds and questioning their crystal balls.
"With underlying inflation continuing to decline back towards the midpoint of the 2–3 per cent range and labour market conditions easing slightly, as expected, the Board judged that a further easing of monetary policy was appropriate," the RBA said, though they remain cautious about the outlook given "heightened uncertainty".
Across the Pacific, Fed Governor Michelle Bowman is pushing hard for three rate cuts this year, citing "signs of fragility in labor market conditions" after unemployment climbed to 4.2% and July job creation crashed to just 73,000.
The employment shock has traders pricing in a 90% probability of a September rate cut - up from 37% before the jobs report hit markets like a sledgehammer.
However, the gains made from good CPI data were quickly eradicated by poor PPI data, with the highest producer cost increase in three years.
President Trump, never one for subtlety, escalated his attacks on Fed Chair Jerome Powell, calling him a "stubborn MORON" and demanding the board "assume control" if Powell refuses to cut rates substantially.
Political pressure from the top tends to make central bankers rather uncomfortable, one imagines.
You'd be remiss to think that with all this contentiousness, markets around the world wouldn't be doing so well - yet, actually, that's exactly what they're doing. Really, really well.
The S&P 500 reached an all-time high of 6480.28 points this week - amid tariff dramas, escalating conflicts, unemployment, inflation and a general sense of overbought numbness.
Earnings season
JB Hi-Fi proved that retail isn't dead - just evolving. The electronics giant announced Group CEO Terry Smart would hand the reins to Chief Operating Officer Nick Wells on October 3, after delivering a tidy 5.4% lift in net profit to $462.4 million.
Sales jumped 10% to $10.55 billion, suggesting Australians are still keen on their gadgets despite cost-of-living pressures.
The company also lifted its dividend payout ratio from 65% to 70-80% of net profit, a move that should please shareholders even as shares tumbled 7.26% to $109.16 following the announcement.
Commonwealth Bank delivered the kind of numbers that make other banks green with envy - a $10.25 billion cash profit for FY25, up 4%, with net interest margins holding steady at 2.08% despite competitive pressures.
The final dividend of $2.60 per share brought total FY25 payouts to $4.85, yet for all of CBA's operational excellence, analysts remain overwhelmingly bearish.
Professional investors have issued 10 strong sell recommendations against just one hold rating, with the stock trading at over 30 times earnings compared to Big Four peers at 14-17 times.
Sometimes being the best comes at a premium that even deep pockets find hard to swallow.
Up, Down, Up, Down
The trading floor delivered its usual mix of triumph and tribulation to end the week, with Amcor tumbling, WA1 tanking, and Baby Bunting rocketing on their respective corporate updates.
Amcor's shares plunged over 11% after the plastics packaging giant's fourth-quarter update disappointed despite posting US$5.08 billion in net sales, up 43% on a constant currency basis.
The double-miss on both earnings and sales, combined with significant integration expenses from its Berry Global acquisition, sent investors running for the exits.
WA1 Resources fell around 14% after securing a $100 million placement at $17 per share - a 9.4% discount that saw the company issue 5.9 million new shares.
While the funds will help develop its Luni Niobium Project in Western Australia's West Arunta region, existing shareholders weren't thrilled about the dilution.
On the flip side, Baby Bunting shares soared over 30% after the maternity and baby goods retailer delivered record sales of $521.9 million, up 4.7%, supported by its successful Store of the Future rollout.
The company's gross margin hit 40.2%, exceeding previous targets, while net profit jumped 228% to $12.1 million on a pro-forma basis.
Superpowers trade economic blows
President Trump pulled another classic move from his negotiating playbook, pausing hefty tariffs on China for another 90 days just hours before they were set to snap back into place.
The White House extension pushes the deadline to mid-November, continuing a pattern of threatening large tariffs only to scale them back or pause them when push comes to shove.
This follows talks between U.S. and Chinese negotiators in Stockholm in late July, where both sides apparently found enough common ground to keep the economic warfare from escalating.
When the tariff war began in April, Trump had cranked blanket tariffs on Chinese imports to 145%, with China retaliating at 125%.
Both sides have since dialled back the rhetoric - and the rates.
Meanwhile, Mexico's President Claudia Sheinbaum made it crystal clear that U.S. military forces won't be crossing the border, after Trump signed an executive order authorising military operations against Latin American drug cartels.
"We co-operate, we collaborate, but there is not going to be an invasion. That is ruled out, absolutely ruled out," Sheinbaum said, leaving no room for misinterpretation.
The diplomatic language came as Mexico attempts to negotiate lower tariff rates on its goods, currently sitting at 25% on Mexican-made cars and 50% on steel, aluminium, and copper.
The art of the deal requires knowing when to draw bright red lines.
Conflicts of interest
Israeli Prime Minister Benjamin Netanyahu defended his plan to seize Gaza Strip territory despite tens of thousands of Israelis protesting the move. Speaking at a press conference in Jerusalem, Netanyahu claimed Israel controls "about 70 to 75% of Gaza under Israeli control, military control" with two remaining strongholds in Gaza City and the central camps in Al Mawasi.
The plan, approved by Israel's Security Cabinet, triggered warnings from the UN Security Council that it would "likely trigger another calamity in Gaza, reverberating across the region and causing further forced displacement, killings, and destruction."
Even close ally Britain pushed for an emergency UN meeting, with deputy ambassador James Kariuki warning the plan "will only deepen the suffering of Palestinian civilians in Gaza. This is not a path to resolution. It is a path to more bloodshed."
The U.S., however, offered support for Israel's position, with UN envoy Dorothy Shea stating, "Israel has a right to decide what is necessary for its security and what measures are appropriate to end the threat posed by Hamas." Sometimes diplomatic consistency takes a back seat to strategic alliances.
Who's digging into what?
Washington delivered a warning shot heard around the mining world, slapping fresh sanctions on armed groups and mining companies fuelling the Democratic Republic of Congo's blood minerals trade.
The Treasury targeted PARECO-FF, an armed group that controlled the critical coltan mining hub of Rubaya, which pumps out 15-30% of the world's coltan supply - the stuff that makes smartphones work.
The sanctions web extends to mining company CDMC and Hong Kong firms East Rise Corporation and Star Dragon Corporation, showing exactly how conflict resources slip into global supply chains.
"The United States is sending a clear message that no armed group or commercial entity is immune from sanctions if they undermine peace, stability or security in the DRC," State Department spokeswoman Tammy Bruce said.
With eastern DRC sitting on massive coltan, cobalt, and tantalum deposits - the strategic minerals that make Tesla's batteries work and Pentagon procurement officers lose sleep over - Washington's scrutiny isn't going anywhere.
The message to miners with questionable practices worldwide is clear: clean up your act or face the music.
