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

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

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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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