It’s Friday the 13^th of June 2025, and there are major questions marks over AUKUS – Australia’s deal with the US and UK to build nuclear powered submarine over coming decades. The Trump Administration has called for a review of the $386 billion tripartite security pact.

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News in brief

The S&P/ASX200 finished down 0.3pc to 8565 points yesterday. Generally, the mining stocks did best while some of the battery metals companies did worst. All the big banks were lower, as were the three big miners, with Fortescue Metals down more than 3pc.

Consumer sentiment is nudging higher, slowly, as lower inflation and interest rate cuts filter through to households, according to the Westpac-Melbourne Institute June Consumer Sentiment index.

The boss of electric vehicle manufacturer BYD in Australia expects EV prices to eventually fall to the same level as petrol cars and says the introduction of the BYD Shark ute range has transformed the company in Australia.

Online retailer Cettire’s share price tumbled more than 30 per cent yesterday after the group flagged a loss during the March quarter and downgraded its full year profit guidance.

Donald Trump is claiming that a trade deal is done between the world’s two biggest economies, including agreement over tariffs and rare earths. The deal is subject to final approval from Chinese President Xi Jinping, and Trump himself.

Fear-o-meter

It’s Australia’s turn to get the Trump treatment. Ahead of a likely meeting between Donald Trump and Anthony Albanese next week on the sidelines of the G7 meeting, the US says it wants to review AUKUS.

The government is saying don’t panic, while the Opposition wants to know why Albanese hasn’t officially secured a meeting with Trump yet.

Remember, both sides of politics want AUKUS. It was originally scoped out by Liberal PM Scott Morrison and signed by Labor.

The most likely outcome is AUKUS goes ahead, but there will be an extra cost for Australia, be that higher defence spending or something else involving higher payments.

That’s Donald Trump’s way of doing things.

Trump’s diplomacy – if you can call it that - is wearing thin, in Australia and elsewhere. Holding “friends” to ransom over already done deals is no way to treat a so-called ally.

Who's talking today?

On changes to the Buy Now Pay Later sector, which now see the industry operating under a tailored form of Australia's credit laws:

 

"So the change for new customers applying today is that you'll be asked to answer a couple of questions about your financial situation. You'll be asked to tell us your income and your expenses and whether you've got certain types of credit products. And you'll also be asked to agree for us to perform a credit check on you. So they're the main differences that apply today for those new customers. And assuming the answers to those questions are satisfactory and the credit check is satisfactory, you'll be assigned a spending limit, an initial spending limit by after pay, which will enable you to then use the product."

Greed-o-meter

As mentioned earlier, EV prices are tipped to fall to the same level as petrol cars in Australia (eventually). So how affordable is an electric car right now? Here are the five cheapest according to RACV.

Source: RACV

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