Miners take the lead over banks; house auctions, prices fall; $US9m lunch with Buffett

Monday 18 May 2026

Australia’s miners take over from the banks as the share market leaders. 

• House auctions tumble, particularly in Sydney, even before higher interest rates and the federal budget take effect
• An anonymous bidder pays $US9 million to have lunch with Warren Buffett 
• Illegal tobacco is costing the government billions of dollars, yet there is little law enforcement around it
• Iran makes another offer to the US to re-open the Strait of Hormuz

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