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HSBC Exits Australian Retail Banking; Sells $36B Loan Book to Blackstone
HSBC closes all 19 Australian retail branches over 18 months after selling $36B loan portfolio to Blackstone. Pepper Money to service mortgages from early 2027.
Old Trails Fire Grows to 3,000 Acres in Spokane; Level 3 Evacuations Expand
Old Trails Fire burns 3,000 acres in Spokane, Washington, forcing Level 3 evacuations for thousands of residents. About 4,000 buildings are threatened as extreme fire weather conditions fuel rapid spread.
Macquarie Bank Cuts Variable Rates to 6.04% as Mortgage Wars Heat Up
Macquarie Bank cuts variable rates to 6.04% for new customers. 28 lenders have cut rates since June as mortgage competition heats up and RBA decision looms on August 11.
IAG Trims 2026 Capacity as Fuel Costs Bite; Shares Fall 1.6%
IAG cuts 2026 capacity outlook to flat after 16% Q2 profit drop from fuel costs and Middle East conflict. Shares fall 1.6%. Fuel bill forecast eased to €8.3-8.6bn.
Australia’s Housing Crisis Deepens: 26% Fear Homelessness Within 12 Months, August 02
Australia’s housing crisis intensifies as 26% of Australians fear homelessness in the next year. Rents hit record highs, deposit savings take 11.2 years, and affordability stress drives homelessness.
Sony Stops PlayStation Disc Production by January 2028 Amid Digital Shift
Sony ends PlayStation physical game disc production in January 2028. Digital downloads now account for 78% of PlayStation game sales, but gamers worry about losing ownership rights.
Bayern Munich Puts Three Stars on Transfer List as Eberl Exits Palhinha
Bayern Munich lists Joao Palhinha, Sacha Boey, and Bryan Zaragoza for transfer. Director Max Eberl says the trio have no future at the club and will not feature if they stay.
Sony Ends PlayStation Disc Production by January 2028; Gamers Revolt
Sony will end physical PlayStation disc production in January 2028. Digital downloads now account for 78% of game sales. Gamers and developers express concern over lost ownership and access.
Albanese’s Melon Joke Risks Japan Ties as Diplomatic Fallout Looms
PM Anthony Albanese faces criticism after making sexual jokes about Japanese PM Sanae Takaichi’s Crown Melon gift on a podcast. Trade officials warn Japan may view Australia as a sovereign risk.