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Denny’s Franchisee Closes 5 Locations in Minnesota, Wisconsin on September 9
Denny’s franchisee M15 Inc. closed 5 locations in Minnesota and Wisconsin on September 9, citing unsustainable debt. The chain has shuttered 155 restaurants over two years as it pursues a turnaround.
RBA Tipped to Raise Rates to 15-Year High by End of September
RBA deputy signals fourth interest rate hike likely by September 28-29 as inflation stays above target. Macquarie Bank forecasts cash rate to rise to 4.6%, a 15-year high, adding $121 to monthly mortgage payments.
Bond Market Rout Pushes Australian 10-Year Yields to 15-Year High
Australian 10-year bond yields hit 15-year highs as global bond markets sell off sharply. Rising yields increase borrowing costs and threaten asset prices amid persistent inflation and $40 trillion US debt.
Trump Demands Bombardier Build in U.S. or Lose Market Access
Trump threatens to block Bombardier from U.S. sales unless the Canadian jetmaker builds aircraft domestically. The company already employs 3,500 U.S. workers and sources $2.5B annually from American suppliers.
Norway’s $2.3T Wealth Fund Cuts US Treasury Holdings by $75B
Norway’s $2.3 trillion sovereign wealth fund proposes cutting US Treasury holdings by $75 billion to diversify into riskier assets and boost returns amid rising US debt concerns.
RBNZ Raises OCR to 2.75% on September 2; ANZ Lifts Mortgage Rates
RBNZ raises OCR to 2.75% to fight inflation at 4.1%. ANZ lifts floating home loan rates to 6.29% effective September 23. What it means for NZ borrowers and savers.
Grand Canyon Flash Flood Kills 1, Leaves 15 Missing as Park Closes August 31
One dead, 15 missing after flash flood destroys Grand Canyon’s Phantom Ranch and infrastructure. Park closes all lodges; water pipeline damaged; more storms possible.
Grand Canyon Flash Flood Closes Phantom Ranch; 15 Unaccounted For on August 30
Flash flooding at Grand Canyon National Park on August 29 evacuated 62 people from Phantom Ranch and closed trails indefinitely. About 15 remain unaccounted for as search efforts continue.
One Nation Wins Secret Harbour Seat in Historic WA By-Election Upset
One Nation candidate Luke Herdegen wins Secret Harbour by-election with 39% primary vote, delivering the party its first WA lower house seat and a 30.6% swing against Labor.