Fri 25 Sep 2026 at 8:32amFri 25 Sep 2026 at 8:32am
ICYMI – Bathla Group stops all construction
So where are things at with Bathla?
The company has been in voluntary administration for about a month, owing at least $3.4 billion.
Administrators Teneo initially managed to secure emergency funding from a group of lenders, which kept construction going on a small number of projects.
But that money has now run out, and after weeks of further talks, all lenders bar one have decided not to provide more funding.
So what that means is that Bathla is effectively shutting down its construction operations, with 125 more staff stood down and just 67 remaining as a skeleton team to manage the administration.
The administration itself is still continuing, at least for now, but the focus is on securing sites, selling land and assets, and working out what happens to individual projects as lenders take control or pursue their own path forward.
Read the latest from myself and Alex Turner-Cohen.
Fri 25 Sep 2026 at 8:16amFri 25 Sep 2026 at 8:16am
Each rate rise locks tens of thousands out of home ownership, research finds
New research suggests a standard 0.25 percentage point rate rise causes an immediate 5% fall in home purchases.
It estimates each rate increase could leave close to 30,000 households out of home ownership, some of them for more than a decade.
The findings come ahead of the RBA’s interest rate decision next Tuesday where it’s widely expected the central bank will raise interest rates.
Read Business Editor Michael Janda’s piece here.
Fri 25 Sep 2026 at 8:06amFri 25 Sep 2026 at 8:06am
US bond sell-off deepens
US Treasury yields have climbed again, with the 30-year yield rising to just under 5.5%, its highest level since 2004.
The 10-year yield also jumped 10 basis points to 5.21%, its highest since 2007.
“The market is reflecting the concerns over high energy prices, which is the key driver of inflation. The question is when will those subdue and how long will it take to normalise energy prices,” Oliver Pursche, senior vice president and advisor for Wealthspire Advisors told Reuters.
Markets are also increasingly betting on another Federal Reserve rate rise.
Traders now see about a 70% chance of a hike when the Fed meets next in October, up from 66% on Wednesday.
The Fed raised rates last week for the first time since 2023 as it tries to bring inflation back under control.
Bond markets globally have been under pressure for months, with the war in Iran pushing up energy prices while economic growth has remained relatively resilient.
Oil prices rose again overnight to $US107/barrel as uncertainty around the conflict continues.
Fri 25 Sep 2026 at 7:55amFri 25 Sep 2026 at 7:55am
ICYMI – Thursday Finance Report
For a recap of how markets went on Thursday, you can catch my colleague David Chau’s finance report.
He speaks about the slump in the Aussie dollar, and a gloomy day for the share market following a sell-off in the US bond market.
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Fri 25 Sep 2026 at 7:43amFri 25 Sep 2026 at 7:43am
Starbucks to close another 250 shops in North America
Starbucks will close 250 underperforming coffeehouses in North America, the company said in a regulatory filing, as CEO Brian Niccol pushes forward with his turnaround push to revive sales.
The announcement comes a year after Starbucks shut down several underperforming stores in the region, including its iconic Seattle roastery, in a restructuring effort that was estimated to cost the company about US$1 billion.
The company disclosed that the fresh closures will result in about US$300 million in restructuring charges, and represent about 1% of its roughly 18,000 stores in North America.
It plans to finish most of the closures by the end of fiscal year 2026.
Starbucks also expects fiscal 2026 global net new store openings for company-operated and licensed coffeehouses to be about 440, compared with its earlier target of 600 to 650 openings.
With Reuters
Fri 25 Sep 2026 at 7:16amFri 25 Sep 2026 at 7:16am
ASX set to fall, bond market sell-off continues
Happy Friday, all!
Welcome to the ABC’s business and finance blog.
Lin Lin here to take you through the latest market news from overnight and over the morning.
The ASX is set to open lower by 0.3%
The Australian dollar is also lower and buying 70.11 US cents.
Bond markets came under renewed pressure overnight with US 30-year bond yields hitting a more than 20-year high as surging oil prices reignited worries about higher inflation and more US Federal Reserve interest rate hikes.
I’ll be back shortly with more!
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