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  • Asia Set for Cautious Open Ahead of US Payrolls: Markets Wrap

    Asia Set for Cautious Open Ahead of US Payrolls: Markets Wrap


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    (Bloomberg) — Asian shares were poised for a cautious open as investors awaited US jobs data after stocks hit another record following Donald Trump’s announcement of a trade deal with Vietnam.

    An MSCI gauge of global shares set a new peak after the S&P 500 rose 0.5% to a new high Wednesday. The Nasdaq 100 gained 0.7% as tech outperformed. News of a trade deal supported apparel stocks including Nike Inc. amid hopes the latest accord will avert a potential supply-chain catastrophe. Asian equity-index futures were little changed. Tesla Inc. jumped 5% as a drop in sales was seen as better than feared.

    Treasuries fell Wednesday following heavy selling in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. The US 10-year yield climbed four basis points while the UK 10-year yield soared 16 basis points Wednesday. Gold rose, oil climbed around 3% and the dollar was little changed.

    The cross-asset moves underscored cautious optimism as traders contend with pockets of uncertainty ahead of US jobs data that will help identify the path ahead for interest rates. Like in the UK, investors have also raised similar concerns in the US, where Trump’s signature economic legislation stalled in the House Wednesday afternoon as Republican fiscal conservatives delayed a key procedural vote.

    “Investors are already pricing in the One Big Beautiful Bill, at least in some form,” Zachary Griffiths, head of investment-grade and macroeconomic strategy at CreditSights, told Bloomberg Television Wednesday. “We’re going to see more supply from the US and there’s concerns fiscally across the globe” including in the UK.

    On the Vietnam trade deal, Trump said he reached a deal with the country after weeks of negotiations. A 20% tariff will be placed on Vietnamese exports to the US, with a 40% levy on any goods deemed to be transshipped through the country. Trump said that Vietnam had agreed to drop all levies on US imports.

    Markets Live Strategist Mary Nicola says:

    The deal also includes a 40% duty on transshipped goods, a clause clearly aimed at Chinese exports. Details on enforcement remain scarce, but this heightens risks of a potential response from Beijing.

    Meanwhile, UK Prime Minister Keir Starmer said Rachel Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked the bond selloff.

    Back in the US, monthly nonfarm payroll data due later Thursday — a day earlier than usual due to a holiday —  will show slower hiring and the highest unemployment rate since 2021 as the Trump administration’s trade and immigration policy shifts start to leave an imprint.

    Separate private payrolls data from ADP Research on Wednesday showed employment at US companies fell for the first time in over two years. Despite signs of a downshift, Federal Reserve Chair Jerome Powell has repeated the labor market remains solid. Policymakers have refrained from lowering interest rates this year as they wait to see the impact of tariffs on inflation.

    “One of the reasons the Fed has been able to be patient before cutting rates was because the job market was holding up so well, so if that were to change, then the Fed may be forced to move earlier than they would like,” said Chris Zaccarelli at Northlight Asset Management.

    Following ADP Research’s private payrolls data, traders added to wagers on at least two rate reductions this year, with the first coming in September. If the upcoming jobs report shows further weakness, traders reckon the Fed could move up cuts.

    Some of the main moves in markets:

    Stocks

    • S&P 500 futures were little changed as of 8:22 a.m. Tokyo time
    • Hang Seng futures were little changed
    • S&P/ASX 200 futures fell 0.1%

    Currencies

    • The Bloomberg Dollar Spot Index was little changed
    • The euro was little changed at $1.1800
    • The Japanese yen was little changed at 143.56 per dollar
    • The offshore yuan was little changed at 7.1620 per dollar
    • The Australian dollar was little changed at $0.6585

    Cryptocurrencies

    • Bitcoin fell 0.1% to $109,061.54
    • Ether fell 0.2% to $2,586.18

    Bonds

    • Australia’s 10-year yield advanced three basis points to 4.18%

    Commodities

    • West Texas Intermediate crude fell 0.3% to $67.25 a barrel
    • Spot gold fell 0.1% to $3,352.62 an ounce

    This story was produced with the assistance of Bloomberg Automation.

    –With assistance from Richard Henderson.

    ©2025 Bloomberg L.P.

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  • BBL DRAW A HIT FOR HEAT | Gabba Hosts Home Games

    BBL DRAW A HIT FOR HEAT | Gabba Hosts Home Games

    The 2025-26 KFC Big Bash League season will see Brisbane strive to bring the heat in more ways than one across five home matches at the Gabba this summer.

    Buoyed by the signing of number one International Draft Pick and fast bowling tyro Shaheen Shah Afridi, the Heat will host the Perth Scorchers, Adelaide Strikers, Melbourne Stars, Sydney Thunder and Sydney Sixers at the Gabba.

    It will be the first time since Brisbane’s championship season in BBL|13 in 2023-24 that the Scorchers will have played in Brisbane, with Perth arriving for the Heat’s Opening Night game on Friday 19 December.

    Included in the Heat’s five home matches highlighted in today’s release of the BBL|15 draw is a rare day game, hosting the Sydney Thunder on Saturday 10 January in a 3pm match as part of a bumper BBL double-header that day.

    The Heat will host the last game of the regular season, a potential blockbuster against the Sydney Sixers at the Gabba on Sunday 18 January which could feature Pakistan superstars Afridi and Sydney’s Babar Azam as well as Australian Test players being available.

    Heat CEO Terry Svenson said the fixtures presented an almost perfect summer draw for Brisbane fans and members.

    “We’ve got all games in the school holidays, two Friday night games, two Saturday matches including a family friendly afternoon slot, and a Sunday night blockbuster to wrap up the regular season,’’ he said.

    “The matches are ideally spaced, with a pre-Christmas clash with the Scorchers, the Festive Bash game on 27 December against the Strikers that is right in the sweet spot for families on holidays, a Friday night match just after New Year and then two more games a week apart in January.”

    “This summer promises to be one of the biggest ever on record for cricket, and if our membership renewal interest is any guide, we’re thrilled at the prospect of attracting loads of fans to the Gabba which in turn should inspire the team to be at their most exciting,” Svenson said.

    Brisbane Heat Memberships went on sale yesterday, with the club producing its highest ever first day of sales in 14 years.

    The record sales return came on the same day that the Heat announced Royal Caribbean as its official Membership and Holiday Partner, with a family holiday for four to be given away ahead of the season.

    Heat tickets will be on sale from next month through Ticketek.

    Brisbane will open its season away with a return to Geelong where it will take on the Melbourne Renegades on 15 December.

    The Heat has played the Renegades three times at GHMBA Stadium in Geelong, winning their inaugural clash at the venue before losing the next two.

    This included the infamous COVID match in January 2022 where Brisbane was forced to field an entirely new side after the main playing group was quarantined on the Gold Coast following an outbreak of illness in the squad.

    The Heat will also play the Sixers at Coffs Harbour International Stadium, the third year in a row it has visited the NSW coastal city for a BBL game, as well as make a return to Canberra to take on the Thunder at Manuka Oval.

    The 40 regular season matches will run uninterrupted from December 14 to January 18, except for Christmas Eve and Christmas Day. The BBL|15 Finals series will feature four matches from Tuesday, January 20, culminating in the Final on Sunday, January 25.

    Every BBL|15 match will once again be aired on FOX SPORTS and available on Kayo Sports, including ten matches exclusive to FOX CRICKET.

    The summer schedule features 30 regular season BBL matches and every final that will be shown live and free on Seven and 7plus.

    The WBBL Heat fixtures will be announced next week.

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  • Remembering William Cran, Prolific and Acclaimed Documentary Filmmaker

    Remembering William Cran, Prolific and Acclaimed Documentary Filmmaker

    William Cran, a prolific filmmaker who produced more than 20 acclaimed FRONTLINE documentaries — including the series’ first two episodes in 1983 — died on June 4 at age 79.

    Starting with an investigation probing the National Football League and then 88 Seconds in Greensboro, which examined the murder of civil rights demonstrators, Cran’s films for FRONTLINE would go on to explore topics ranging from the assassination of John F. Kennedy, to the global AIDS epidemic, to how Jesus became Christ.

    The New York Times called the latter documentary series, From Jesus to Christ, “a revelation of what television can be.”

    Whether he was examining an Ambush in Mogadishu, the secret life of J. Edgar Hoover, the hidden reality of rape on the job for immigrant women, or the evolution of apocalyptic beliefs across centuries, Cran explored complicated subjects with depth, vigor and compelling narratives.

    “What was so particular about Bill was that each one of his films is different,” said the founder of FRONTLINE, David Fanning. Cran first caught Fanning’s attention when he was recruiting filmmakers for a new international series for public television called “World,” which would later become FRONTLINE.

    “I invited Bill to visit us in Boston,” Fanning said,”but he arrived in a snow storm, which turned into the ‘Blizzard of ’78! We were trapped in my apartment for three days, so we had lots of time to get to know each other.”

    ​Years after Cran produced FRONTLINE’s first two films, Fanning recalls being in a Hollywood meeting with Steven Spielberg: “He came into the room and exclaimed, ‘FRONTLINE! That’s 88 Seconds in Greensboro!’” Fanning said Spielberg “could remember sequences,” from Cran’s film.

    In addition to his work with FRONTLINE, Cran produced several multi-part public media series that also probed complex subjects, including the 9-part series The Story of English, which aired on PBS and the BBC and also became a bestselling book. Cran also produced the 8-part series The Prize: The Epic Quest for Oil, Money & Power, with Pulitzer Prize-winning author Daniel Yergin.

    Over the course of his storied career, Cran won honors including two Peabody Awards, four duPont-Columbia University awards, four Emmy Awards and an Overseas Press Club Award.

    Cran also mentored several generations of documentary filmmakers and journalists who went on to have their own successful careers.

    “Bill had an incredible nose for storytelling. He made me focus on the narrative arc of a story and insisted there should always be three acts and a climax,” said Marcela Gaviria, who first worked on the FRONTLINE documentary Godfather of Cocaine with Cran and went on to produce many films for the series. “He wasn’t just a storyteller; he was a demanding journalist and an inspired teacher.”

    Watch a selection of Cran’s landmark films for FRONTLINE below.

    Part I:

    Part II:

    Patrice Taddonio, Senior Digital Writer, FRONTLINE

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  • Report: Deandre Ayton expected to sign with Lakers after Blazers buyout

    Report: Deandre Ayton expected to sign with Lakers after Blazers buyout

    Deandre Ayton is the only player to average a double-double in points and rebounds in his first 7 seasons since Dwight Howard.

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    EL SEGUNDO, Calif. (AP) — Center Deandre Ayton has agreed to join the Los Angeles Lakers as a free agent, two people with knowledge of the deal told The Associated Press on Wednesday.

    The people spoke on condition of anonymity because the deal could not yet be announced between the Lakers and Ayton, the No. 1 overall pick in the 2018 NBA Draft — two spots ahead of Luka Doncic.

    The Portland Trail Blazers bought out Ayton’s contract last weekend, and he has agreed to join Doncic and LeBron James on a deal for the upcoming season with a player option for 2026-27. He will be paid more than $25 million by the Blazers while playing for the Lakers next year.

    Ayton’s arrival fills the Lakers’ most glaring offseason need, providing a lob target for James and Doncic. And while Ayton isn’t known as a defensive stopper, the 7-footer will provide the size in the middle that the Lakers have missed since trading Anthony Davis to Dallas for Doncic.

    Ayton, who turns 27 this month, spent his first five NBA seasons with Phoenix before joining the Trail Blazers two years ago as part of the three-team trade sending Damian Lillard to Milwaukee.

    Ayton struggled at times in Portland while playing for mediocre teams, but he has averaged 16.4 points and 10.5 rebounds during his seven NBA seasons while making 59% of his shots. He played only 40 games for the Blazers last season, getting sidelined for the rest of the year in February by a strained calf.

    While he has never been an All-Star, Ayton is the only player to average a double-double in points and rebounds in his first seven NBA seasons since former Lakers center Dwight Howard did it over a decade ago.

    Ayton also knows Southern California after moving from the Bahamas to San Diego to play high school basketball. He went on to the University of Arizona before the Suns drafted him.

    The Lakers struggled without Davis in the paint last season, with Jaxson Hayes playing poorly enough to get benched by coach JJ Redick in their final two playoff games. Los Angeles was eliminated from the first round of the postseason by Minnesota in five games, with big man Rudy Gobert racking up 27 points and 24 rebounds in the clinching victory while the Lakers largely played without a center.

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  • Two years in, Apple is now officially on Threads

    Two years in, Apple is now officially on Threads

    It took a minute, but Apple has at last activated its official Threads account. And thanks to its massive Instagram presence, it instantly picked up nearly 5 million followers.

    Today’s move comes well after several Apple-related accounts joined Instagram’s alternative to X right out of the gate. Apple Music, Apple News, Apple Books, Shazam, and Beats by Dre were among the first to show up shortly after Threads launched in mid-2023, but the main @apple account remained absent until now.

    Instant 4.8 million following

    Despite having yet to post anything, Apple’s Threads debut already carries quite a bit of weight. The @apple account had over 4.8 million followers the moment it went live, thanks to Threads’ auto-follow feature for Instagram accounts. Given @apple’s massive Instagram presence, currently at over 34 million followers, the immediate boost isn’t surprising.

    What makes the move notable is obviously the broader context. Apple has long maintained a strong presence on X, to the point of facing criticism in recent years.

    Over there, it has nearly 10 million followers and continues to use the platform to promote events, ads, and product launches. The company has been quiet on alternative platforms like Mastodon, where only Phil Schiller, Apple Fellow and longtime marketing chief, maintains a personal presence.

    9to5Mac’s take

    Apple’s arrival on Threads may not signal a full-on platform shift just yet, but it does show the company is at least willing to play in the broader social network field. Whether that translates into actual posts, or even full-on marketing campaigns, remains to be seen.

    Many companies have rushed to join new platforms, only to let them sit dormant after the initial wave of hype. Just today, The Telegraph published a story called “The Left is abandoning its online safe space“, to which social media consultant Matt Navarra noted:

    Still, with Meta continuing to push Threads as a more stable alternative to X and, at the same time, signals it’s finally ready to move beyond being Instagram’s sidekick, Apple’s quiet entrance is worth noting.

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    FTC: We use income earning auto affiliate links. More.

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  • Pentagon says US strikes set back Iran nuclear program ‘one to two years’ | US military

    Pentagon says US strikes set back Iran nuclear program ‘one to two years’ | US military

    The Pentagon has collected intelligence material that suggests Iran’s nuclear program was set back roughly one to two years as a result of the US strikes on three key facilities last month, the chief spokesperson at the defense department said at a news conference on Wednesday.

    The spokesperson, Sean Parnell, repeated Donald Trump’s claim that Iran’s key nuclear sites had been completely destroyed, although he did not offer further details on the origin of the assessments beyond saying it came from inside the defense department.

    “We have degraded their program by one to two years,” Parnell said at a news conference held at the Pentagon. “At least, intel assessments inside the department assess that.”

    Parnell’s description of the strikes marked a more measured estimate than Trump’s assertions about the level of destruction. A low-confidence Defense Intelligence Agency (DIA) report based on early assessments said Iran’s program was set back several months.

    The evolving picture of the severity of the damage to Iran’s nuclear program comes as US intelligence agencies have continued to push out new assessments, using materials that suggested the centrifuges at the key Fordow enrichment site were destroyed even if it was unclear whether the facility itself had caved in.

    Trump advisers have used that material, which include the use of video taken from B-2 bombers to confirm simulation models of shock waves destroying centrifuges and other Israeli intel from outside Fordow, to defend Trump’s assertions, two people familiar with the matter said.

    The extent of the damage to Iran’s nuclear program and the fate of the country’s stockpile of enriched uranium – which could quickly be turned into a crude nuclear weapon – is important because it could dictate how long the program has been set back.

    The head of the UN nuclear watchdog said on Sunday that Iran could be producing enriched uranium in a few months.

    “They can have in a matter of months, I would say, a few cascades of centrifuges spinning and producing enriched uranium,” Rafael Grossi the head of the International Atomic Energy Agency (IAEA) said, adding “Iran is a very sophisticated country in terms of nuclear technology … You cannot undo the knowledge that you have or the capacities that you have.”

    The Pentagon’s preliminary DIA assessment, which was based on information from little more than 24 hours after the strikes, the Guardian previously reported, found the damage could range from Iran being able to restart the facility with new centrifuges to having to abandon it for future use.

    The DIA report assessed the program had been pushed back by several months, although that finding was made at the so-called “low-confidence” level, reflecting the early nature of the assessment and the uncertainty intelligence agencies have with initial conclusions.

    Trump advisers have pushed back on the DIA report and said privately the destruction of the centrifuges alone meant they had taken out a key component of Iran’s ability to develop nuclear weapons and meant it delayed the nuclear program by years.

    Battles over the conclusions of intelligence agencies have been at the center of American foreign policy determinations for decades, from warnings about Iraq’s weapons programs that the Bush administration used to justify the 2003 invasion that were later found to be false, to claims that a Chinese lab leak was responsible for Covid.

    Still, much of the controversy about the US strikes has been generated by Trump’s claiming that they “obliterated” Iran’s nuclear sites, which no intelligence agency has directly repeated because it is not a characterization used in intelligence assessments.

    Verifying the extent of the damage was made more difficult on Wednesday, after Iran put into effect a new law to suspend cooperation with the IAEA. Iran has accused the nuclear watchdog of siding with western countries and providing a justification for Israel’s airstrikes.

    A state department spokesperson called the move “unacceptable” and said Iran must fully comply with its nuclear non-proliferation treaty obligations, including by providing the IAEA with information on undeclared nuclear material and providing unrestricted access to any newly announced enrichment facility.

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  • France condemns Iran's detention of couple – Reuters

    1. France condemns Iran’s detention of couple  Reuters
    2. Iran charges French couple with spying for Israel  Geo.tv
    3. French diplomat visits two French nationals imprisoned in Iran  The Times of Israel
    4. French detainees in Iran charged with spying for Israel  The New Arab
    5. French diplomat visits two French detainees in Iran: minister  24 News HD

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  • Salt Typhoon telecom hackers are “not actively infiltrating information.”

    Salt Typhoon telecom hackers are “not actively infiltrating information.”

    Posted

    Salt Typhoon telecom hackers are “not actively infiltrating information.”

    That’s according to FBI Cyber division head Brett Leatherman, who told Cyberscoop that the China-linked hackers are “largely contained” and “dormant” in telecom networks.

    Last year, The Wall Street Journal found that Chinese hackers targeted US officials in a breach of major telecom providers, including AT&T, Verizon, T-Mobile, and Lumen Technologies. Cybersecurity officials later recommended that Americans use encrypted apps to make calls and send texts.

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  • Galloway and Lanark hydro stations explore solar panel prospects

    Galloway and Lanark hydro stations explore solar panel prospects

    Giancarlo Rinaldi

    BBC Scotland News

    Drax A nearly century old hydro power station building pokes out from between the treesDrax

    The Lanark hydro system was commissioned in 1926

    Hundreds of solar panels could be fitted to eight historic hydro power stations across the south west of Scotland.

    Renewable energy giant Drax is exploring the option for its sites in Galloway and Lanark – some of which date back nearly 100 years.

    If the plans go ahead they would meet the back-up power needs of the hydro sites which it currently pays to get from the local electricity grid.

    The company said that although its proposals were at an early stage the potential impact was “significant”.

    Drax A long pipeline leading away from a hydro power station runs through the green countryside of southern ScotlandDrax

    The solar panels would provide back-up power for the historic hydro power stations

    Drax bought the hydro scheme – which provides enough energy to power more than 400,000 homes – in late December 2018.

    The Lanark system is made up of two power stations – one at Bonnington near New Lanark and one at Stonebyres near Lanark.

    It is one of the oldest in the UK and was commissioned in 1926.

    The Galloway scheme opened nine years later and comprises six power stations at Drumjohn, Kendoon, Carsfad, Earlstoun, Glenlee and Tongland which run from north of Carsphairn to near Kirkcudbright.

    Getty Images A black and white picture of men working on a massive pipeline as part of the Galloway hydro schemeGetty Images

    The Galloway scheme opened in 1935

    Plant manager for Drax’s hydro-electric power schemes in Galloway and Lanark, Martin McGhie, confirmed its proposals.

    “By generating renewable electricity on-site, we aim to power the schemes’ auxiliary systems sustainably, supporting the operation of the core power generation components at each plant,” he explained

    “Although these proposals are still at an early stage and subject to final design work and planning approvals, the potential is significant.

    “The solar installations could generate up to 482 MWh of clean electricity each year, enabling us to generate hydro power with solar energy, and further reinforce our commitment to renewable generation.”

    Drax An interior view of an old hydro power station in southern ScotlandDrax

    The plants are dotted across the south west of Scotland

    If they go ahead, the plans would see about 1,500 solar panels installed across the eight hydro power stations.

    The panels would be fitted to the rooftops of the sites and be able to meet the auxiliary power needs of the facilities.

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  • SBP reserves jump $5bn to $14.5bn, surpassing IMF target

    SBP reserves jump $5bn to $14.5bn, surpassing IMF target

    KARACHI: In a major achievement on the economic front, the State Bank of Pakistan’s (SBP) foreign reserves jumped by $5 billion to reach $14.51 billion end of the last fiscal year (FY25), surpassing the International Monetary Fund’s (IMF) target of $13.9 billion. Economists noted that this milestone was made possible through the joint efforts of the SBP and the federal government as they successfully stabilized the external sector by implementing prudent macroeconomic policies and securing timely external inflows.

    According to provisional data released on Wednesday, SBPs foreign reserves rose by $5.12 billion during the last fiscal year. With the current increase, the foreign exchange reserves held by the SBP reached the $14.51 billion mark on 30 June 2025 increased from $9.39 billion as on June 30, 2024.

    This surge is attributed to substantial foreign inflows received last week from international financial institutions and lenders. The State Bank received $3.1 billion in commercial loans on behalf of the Government of Pakistan, along with over $500 million in multilateral funding, significantly boosting the country’s foreign exchange reserves.

    SBP’s reserves drop over $2bn in a week on major debt repayments

    Governor SBP Jameel Ahmed in January this year projected that despite massive external debt servicing, State Bank of Pakistan’s foreign exchange reserves will cross the $14 billion mark at the end of FY25.

    Economists said that this significant surge reflects strengthening macroeconomic fundamentals, driven by an improved current account balance, higher home remittances inflows, and disciplined fiscal management. “The recent inflows are expected to further boost confidence in Pakistan’s economic recovery and support ongoing efforts to ensure external stability and sustainable growth”, they added.

    Muhammad Sohail, CEO of Topline Securities, said that thanks to the strong performance of the State Bank of Pakistan (SBP) and the government, the country’s foreign exchange reserves have exceeded the IMF’s target of $13.9 billion-a major achievement.

    He described this as a positive signal for Pakistan’s macroeconomic stability, adding that the milestone reflects improved external account management, rising remittances, stronger exports, and disciplined policy implementation under IMF guidance.

    It may be mentioned here that during the week ended on Jun 20, 2025, SBP foreign reserves decreased by $ 2.657 billion to $ 9.064 billion due to government of Pakistan’s external debt repayments, mainly repayment of commercial borrowing. However, SBP has successfully maintained the reserves by bringing over $5 billion inflows in a week.

    Copyright Business Recorder, 2025

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