1. Lockdowns crush confidence

Two months ago, Australia’s business confidence was at an all-time high but lockdowns have changed that. The NAB business confidence index fell by 18.5 points to a 12-month low of -7.9 points in July. It was the second biggest monthly decline in sentiment since October 2008, after the record 61.8 point plunge in March 2020 when we first understood that the Coronavirus means we have to live in lockdown land.

2. ScoMo blamed for NSW government mistakes

NSW businesses are waiting too long for lockdown assistance and the blame game is starting. The AFR says “frustration is building in the Morrison government over the slow distribution of business assistance in Greater Sydney, as it finds itself bearing the brunt of the blame for a problem that is of the NSW government’s making.” The business help actually is a national programme but NSW insisted on taking responsibility for handing out the grants to struggling businesses through its Service NSW network. It even gave the program its own name — JobSaver — but now the PM would be worried that disgruntled businesses won’t forget how hopeless the programme is so he’d be concerned about saving his job!

3. Climate activists want BHP to keep its fossil fuels

A pro-Greenie group wants BHP Group, the world’s top miner, to abandon plans for multibillion-dollar sales of fossil fuels assets and instead responsibly close down the operations. 100 small investors represented by a group called Market Forces, calls on the company to wind down production in line with international targets to cut greenhouse gas emissions and to focus on helping communities to find alternative jobs. That’s a big call that will fall on deaf ears.

4. Slice of 40-year-old wedding cake for Charles and Diana sold at auction

A slice from one of the 27 official wedding cakes for Prince Charles and Lady Diana Spencer's wedding has sold at auction for £1,850 ($3,500). Garry Layton, the winner of the auction, said he had put the cake in his will to be given to charity, however added: "I will have to think of a way to stop myself from trying to eat it though".

5. New record highs again for the Dow Jones and S&P 500

On Wednesday in the US, the Dow Jones rose by 220.30 points or 0.62% to 35,484.97 and the S&P 500 moved up 10.95 points or 0.25% to 4,447.70, with both indexes reaching all-time highs. Meanwhile the Nasdaq fell again, dropping 22.95 points or 0.16% to 14,765,14.