Mortgage slump hits banks; Ozempic for PBS; climate change opens new shipping routes

Tuesday 11 August 2026

Westpac warns of a slump in home loan applications on the back of tax changes, sending bank share prices and the ASX lower. 

• Prime Minister Anthony Albanese and Opposition Leader Angus Taylor try to negotiate a deal on gambling advertising
• Treasury Wine Estates writes down its US business, again
• Weight loss drug Ozempic set to join the pharmaceutical benefits scheme
• How the war in the Middle East and climate change are combining to create new, faster shipping routes around the globe

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