Crypto News: Qatar buys Virgin Australia stake

Good morning, it's Jackie here in Sydney. Here's what we're watching today...

Today's must-reads:
• Qatar Airways to buy Virgin Australia stake
• Home price growth firms
• REA walks away from Rightmove pursuit

Qatar Airways plans to take a 25% stake in Virgin Australia from Bain Capital, expanding the Gulf carrier's global network of equity holdings. The move aims to give Qatar Airways better access to the Australian market after it was denied more connections by the government last year.

Australian home values rose in September — traditionally a strong month for sales — though the rate of growth remained steady amid increased supply and affordability concerns. Sydney advanced 0.2%, while Perth led major cities with a 1.6% gain.

REA dropped its pursuit of Rightmove after the British property portal rebuffed four takeover proposals in less than a month. Rightmove shares slid after REA said it doesn't intend to make an offer for the company.

ANZ chief Shayne Elliott says an alcohol ban would be "difficult to implement" as the bank works to restore an embattled reputation following a series of scandals in its trading arm. Watch his full interview with Bloomberg Television here.

Droughts, downpours and fires at home and abroad are stoking worries about crop harvests, pushing up prices for food staples that could spur higher grocery bills. The Bloomberg Agriculture Spot Index — which includes nine major products — had a monthly gain of more than 7%, the most since Russia's invasion of Ukraine sent markets soaring in early 2022.

Australian stocks are poised to snap their winning streak after after Fed Chair Jerome Powell signaled he was in no hurry to make further interest-rate cuts. Treasury yields rallied and US shares eked out modest gains after Powell's comments.

Israel closed off areas along its border with Lebanon in preparation for what appears to be an imminent ground attack against Hezbollah, defying international calls for restraint, including from the US.

Israeli tanks and armored personnel carriers in northern Israel, on Sept. 30. Photographer: Leo Correa/AP

China's quant funds faced more margin calls as stocks surged, people familiar said. US-listed Chinese equities extended stimulus-driven gains as investors look for bargains. The city of Beijing became the latest metropolis to ease homebuying rules.

Washington blames China's dominance of the solar industry on what are routinely dubbed "unfair trade practices." But that's just a comforting myth, Bloomberg Opinion's David Fickling writes. The fall of America as a solar superpower is a tragedy of errors that allowed the US and Europe to neglect their own clean-tech industries.

All times Sydney
• 9 a.m.: Judo Bank Sept. Manufacturing PMIs
• 11:30 a.m.: Australia Aug. Building Approvals, Retail Sales

Donald Trump and Kamala Harris offer strikingly different visions of the economy they'd seek to build after winning the US presidency in November. We explore the impact of the candidates' policies on tax breaks, tariffs, immigration, housing and inflation.

Photographer: Mel Haasch/Bloomberg

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