Abc News

• The Australian dollar reached its highest level since May as traders increased bets on potential interest rate hikes by the Reserve Bank of Australia (RBA). • In a separate industry shift, MUFG Pension & Market Services has entered into a binding scheme implementation deed to acquire the administration platform Grow. • This acquisition follows previous issues where HESTA members faced difficulties accessing retirement savings, prompting intervention from the financial regulator APRA.

• Asian stock markets mostly trended higher following a strong rally on Wall Street led by technology giants. • The surge was primarily driven by upbeat financial results from Nvidia and other major tech firms, boosting investor confidence. • This movement highlights the significant influence of U.S. semiconductor and AI performance on global equity markets.

• NASA is preparing to launch the Nancy Grace Roman Space Telescope, a repurposed spy satellite designed to complement the James Webb Space Telescope. • The telescope will focus on mapping the universe, searching for alien planets, and investigating the mysteries of dark energy and dark matter. • According to astrophysicist Ami Choi, the mission is significant because its findings could potentially challenge or collapse major existing theories in modern physics.

• The Reserve Bank of Australia (RBA) has reduced its target share of US dollars within its foreign reserves portfolio by 10 percentage points for 2025. • This strategic shift occurs as major banks predict another interest rate hike may be necessary this year to manage economic pressures. • Separately, China's vice-finance minister pledged in late August to implement additional fiscal support measures following a loss of economic momentum in the third quarter.

• Dutch broadcaster AVROTROS has announced it will boycott the Eurovision Song Contest for a second consecutive year. • The organization described the event as a "platform for division," citing ongoing tensions regarding Israel's participation in the competition. • This move follows similar boycotts from broadcasters in Iceland, Ireland, Slovenia, and Spain, highlighting growing diplomatic friction within the contest.

• The US has introduced "Operation Economic Outcast," a strategic plan to launch an "economic onslaught" against the Iranian regime. • Under this initiative, the US threatens to target the economies of any third-party countries that continue to cooperate with Iran. • The strategy aims to isolate Iran further by leveraging economic pressure to deter international support for the regime.

• Merck and Moderna announced Wednesday that a personalized mRNA-based cancer vaccine successfully extended the lifespan of melanoma patients in a large, late-stage trial. • The companies intend to present the trial data at an upcoming international medical meeting to begin discussions with regulators regarding official filing submissions for approval. • This development is significant as it demonstrates the potential of personalized mRNA technology to treat aggressive cancers more effectively than traditional methods.