1. Queen Elizabeth dies aged 96
Queen Elizabeth II has died aged 96, ending the longest monarchical reign in British history.

The Queen passed away at Balmoral Castle in Scotland on Thursday afternoon (Friday AEST), where she had been spending the summer, with her heirs and close family present at the castle.

Her death, after 70 years on the throne, has triggered a period of official mourning, before a state funeral expected in 10 days’ time. (AFR)

2. Labor’s climate bill passes Senate
The Senate has passed the Albanese government’s bill on climate change, 37 votes to 26.

It received support from the Greens, Jacquie Lambie Network and independent senator David Pocock.

The coalition, One Nation and UAP senator Ralph Babet opposed the bill but did not form the majority in the final wash-up.

The bill will now go back down to the House of Representatives, with amendments from Pocock. If passed by the lower house, it will become law once royal assent is granted. (AFR)

3. Governor Lowe signals slowdown in rate rises
RBA Governor Dr Philip Lowe has strongly stood by the Australian central bank’s decision to raise interest rates another 50bps this week, and that more increases to the cash rate are to come. However, the pace of those rate hikes could be slowing.

“We [the RBA] are conscious that there are lags in the operation of monetary policy and that interest rates have increased very quickly. And we recognise that, all else equal, the case for a slower pace of increase in interest rates becomes stronger as the level of the cash rate rises,” he said.

4. 128,100 days lost to strikes in June quarter
Days lost to industrial action have blown out to their highest level in 18 years, mostly driven by nurses and teachers engaging in mass strikes for higher pay.

Australian Bureau of Statistics data on industrial disputes released on Thursday show about 73,700 workers took industrial action in the June quarter and contributed to 128,100 working days lost. (AFR)

5. ASX top open slightly higher
ASX futures were up 5 points or 0.07% to 6850 near 6.30am AEST, with the AUD -0.3% to 67.48 US cents.

On Wall St: Dow +0.6% S&P 500 +0.7% Nasdaq +0.6%.

In Europe: Stoxx 50 +0.3% FTSE +0.3% CAC +0.3% DAX -0.1%.

Brent crude +1.5% to $US89.34 a barrel.

10-year yield: US 3.32% Australia 3.56%.