FEAR & GREED | Business News Soul Patts-Brickworks $14b deal; Trump-Albo defence battle; Regional house price winners
Jun 2, 2025
A major merger between Soul Patts and Brickworks is set to create a $14 billion giant on the ASX. Meanwhile, tension rises between Australia and the U.S. over defense spending. Surprisingly, regional Australia is experiencing stronger house price growth than capital cities. In international news, Ukraine launched a daring drone strike on Russian military installations. Additionally, BYD faces market challenges as it wrestles with the consequences of its aggressive vehicle discounting.
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Soul Patts-Brickworks Merger Insight
- Soul Patts and Brickworks are merging to form a top 40 ASX company valued around $14 billion to $20 billion.
- Their mutual shareholdings historically deterred corporate raiders and the merger simplifies structure and adds scale.
Australia-US Defense Spending Tensions
- Australia rejects US pressure to boost defense spending to 3.5% of GDP, aiming for 2.5% instead.
- This adds to existing tensions between Canberra and Washington over tariffs and military commitments.
Regional Australia Property Growth Lead
- Regional areas in WA, SA, and Queensland outperform their capital cities in house price growth.
- Even states like Victoria see regional prices stable or rising while Melbourne's prices declined.
