FEAR & GREED | Business News PM rejects Israel sanctions; auction clearance rates ease; Temu & GyG boom
Aug 10, 2025
Australia's Prime Minister rejects sanctions on Israel amidst ongoing geopolitical tensions. The housing market is feeling the pinch as clearance rates drop while buyers await rate cuts from the RBA. In tech news, brands like Temu and Guzman y Gomez are booming, shaking up consumer habits. Additionally, Optus faces legal issues over a massive data breach, and Ukraine's President rebuffs suggestions of a land swap with Russia, highlighting the complex international landscape that impacts markets.
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Australia Won't Impose Israel Sanctions
- Anthony Albanese refused to impose sanctions on Israel, preferring effective actions.
- Tony Burke said Australia could recognise a Palestinian state despite partial terrorist control.
Budget Faces Looming Funding Cliffs
- Bureaucrats warn funding for 100+ programs expires by 2026–27, risking cuts to health and social services.
- Officials say the cliffs could threaten service delivery and thousands of jobs.
Markets Expect The RBA To Cut Rates
- Markets price a 0.25% RBA cut tomorrow and two more by mid‑2026.
- AMP expects a 9‑0 vote, boosting confidence the cut will occur.