Perpetual Ltd. (ASX: PPT) shares surged in early trading before the company requested a trading halt from the Australian Securities Exchange. The company said it had received a formal approach regarding a potential takeover, though details were not disclosed. The approach does not yet constitute a formal offer but triggered the exchange’s halt mechanism, according to Bloomberg.

Bank of England Governor Andrew Bailey said an oil-price shock triggered by the US-Iran war has lifted inflation pressures and narrowed the central bank’s room to cut rates despite weak growth. He still expects two rate cuts this year, but said policy has been frustrated by rising oil prices. The comments underscore how the geopolitical conflict is materially complicating the path of monetary policy and supporting crude prices.

Iran refused to meet US envoys Jared Kushner and Steve Witkoff in Doha on June 30, a move markets took as worsening prospects for a Middle East ceasefire. Qatar’s prime minister met the US side instead. Iran’s foreign minister said Hormuz Strait mine-clearance work is covered by a memorandum of understanding signed in June and requires no outside involvement. Brent crude touched $74.75 a barrel intraday before settling at $73, reflecting a higher geopolitical risk premium.

India’s central bank has warned that the banking system’s bad-loan ratio could start rising from multi-year lows as geopolitical risks intensify. It said the ratio could continue to deteriorate through the fiscal year ending March 2028. The alert points to potential weakening in asset quality, according to Bloomberg.

Goldman Sachs said a shift to a more hawkish Federal Reserve has become the U.S. dollar’s core support, replacing the earlier boost from high oil prices. The bank said the European Central Bank is taking a wait-and-see stance on policy, while the Japanese yen is under pressure amid the risk of intervention. It attributed the dollar’s strength to diverging policy paths among the U.S., euro zone and Japan’s central banks, according to Jin10.

The Bank of Japan’s Tankan survey showed sentiment among large nonmanufacturing firms rose to its highest level since 1991. Inflation expectations continued to strengthen even as companies faced ongoing cost pressures, according to Jin10. The survey also indicated corporate willingness to invest remained steady. Markets have increasingly priced in a faster pace of policy normalization by the central bank.

Indonesia has formally implemented its B50 palm-based biodiesel blending mandate, requiring diesel to contain 50% palm oil. Malaysian palm oil futures have fallen for a second consecutive session. The edible oils market is being pulled in opposite directions, with El Nino-linked supply risks offset by expectations for higher output and rising inventories, according to Jin10.

Shares of Chinese solar inverter maker Sungrow fell 20% on Wednesday after a report said a US regulator is drafting an import ban citing national security concerns, according to Bloomberg. The move would directly hit the company’s US business, even after it reduced reliance on the market in recent years. The report described the action as a sudden, legally binding trade-policy measure rather than a routine review or market rumor.

Iran said the rules governing passage through the Strait of Hormuz have been revised, replacing a proposed “transit fee” with an “environmental service fee” under a new postwar legal framework. Ship traffic through the waterway rose to 51 transits on June 30, recovering from weekend lows, according to Jin10. The announcement did not specify the fee amount or an implementation timetable. Iran’s statement frames the change as a unilateral regulatory measure rather than a physical blockade or a military escalation, though it may add to geopolitical risk premia that could affect shipping costs and timing expectations for Middle East crude.