Banking & Housing: Commonwealth Bank posted a record A$10.98bn cash profit but warned mortgage applications fell 15% after May property tax changes, adding to pressure on household budgets as growth slows. Markets: Australian shares slipped as investors weighed bank warnings and ongoing macro worries, with the Aussie dollar steady while traders awaited key US inflation signals. Gig Economy Pay: The Fair Work Commission set a new minimum hourly rate of A$31.30 for delivery drivers (plus accident insurance), starting Aug 17, in a major shift for platform work protections. Policy & Politics: Coalition figures pushed for a flatter tax system and lower migration to tackle housing, while debate over Victoria’s delayed work-from-home bill continues to split business groups and government. ASX Corporate Moves: Sports Entertainment Group agreed to buy NZ audio business MediaWorks for NZ$130m, aiming to build a trans-Tasman media group. Capital Markets: Innovaero Technologies filed for an A$40m IPO to expand aerospace and defence manufacturing, while Elliott pressed Northern Star Resources for board changes after talks stalled. Trade & Strategy: Australia and Vietnam agreed to strengthen trade and strategic ties, including digital economy and agriculture cooperation. Commodities & Risk: Gold surged on Fed and geopolitical concerns, while oil strength tied to Middle East shipping tensions kept pressure on sentiment. Regional Business: Malaysia and Australia discussed deeper rare-earth and critical-minerals cooperation, including neodymium magnet manufacturing.