Fire, floods disasters; BHP closes on CBA as top stock; rate cut guessing game

Monday 12 January 2026

Fires in Victoria and floods in Queensland threaten lives and property, as federal and state governments step in to offer financial assistance. 

• BHP closes in on Commonwealth Bank in the race to be the country’s largest company. 
• Investors and economists are split on whether the Reserve Bank will hike rates in 2026. 
• Rio Tinto and Glencore in discussions to create the world’s biggest ming company.
• Investors take a punt that a $13 billion bid for BlueScope Steel will ultimately succeed.

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