Airlines' A380 problem, Thailand-Cambodia ceasefire, trade talks

Good morning, it's Ainslie here in chilly Sydney. The US and China finished their first day of trade talks in Stockholm overnight. But first

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Good morning, it's Ainslie here in chilly Sydney. The US and China finished their first day of trade talks in Stockholm overnight. But first... Today's must-reads: • Airlines' A380 dilemma • Thailand, Cambodia ceasefire • Wall Street's growing grip on Bitcoin

What's happening now

The world's largest commercial passenger jet, the Airbus SE A380, enjoyed an unexpected resurgence hauling full loads of passengers when global travel rebounded after the pandemic. But keeping the ageing superjumbo safely airborne is becoming an increasingly expensive headache for airlines. Read more here. New Zealand's set to ban surcharges on in-store electronic payments from next year, Commerce Minister Scott Simpson said. The government will introduce legislation by the end of the year and the ban will be in place by May 2026 at the latest, he said. "Surcharges are a hassle and an unwelcome surprise when shoppers get to the till," he said.  Australia's rooftop solar boom has helped lead the nation's top bourse to cut the middle of the day from its peak power hedging contract. The Australian Securities Exchange has rolled out state-by-state peak load electricity futures contracts for morning and evening hours. The products will allow traders to hedge their exposure during volatile peak hours without having to take on the risk of trading the other hours of the day, said Simon Sarafian, general manager of trading and origination at AGL Energy.

What happened overnight

Here's what my colleague, market strategist Mike "Willo" Wilson says happened while we were sleeping… US stocks stalled after European indexes fell in the face of what has been received as still lofty tariffs in the EU-US trade deal, especially on cars. This negative sentiment dragged the euro, Aussie and kiwi lower while fueling a dollar gauge to its best day in more than two months. Today's local data cupboard is bare, with Australian CPI on Wednesday, ahead of major interest rate decisions from the US and Japan. A weak opening is expected for local stock indexes. European capitals defended the trade deal struck with US President Donald Trump, which will see the EU accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero. Read our Big Take on how tariffs are already stunting world growth here. In Stockholm, Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent led their delegations for afternoon meetings aimed at extending their trade truce beyond mid-August. Meanwhile, Thailand and Cambodia agreed Monday to halt five days of fighting along their disputed border that's killed at least 36 people, after Trump's tariff threats accelerated a regional push for a diplomatic solution. Cambodian migrant workers wait to cross the Ban Laem border checkpoint in Chanthaburi, Thailand, on July 28. Photographer: Lauren DeCicca/Getty Images AsiaPac We've entered a dark era of trade deals, one where Washington now openly links national security to success, writes Bloomberg Opinion's Karishma Vaswani. If countries want lower tariffs, they have to meet Trump's defense demands.  Trump said he would shorten his timeline for Russian leader Vladimir Putin to reach a truce with Ukraine or face potential economic penalties, ramping up pressure on Moscow to bring the fighting to a halt. And Wall Street is seizing control of Bitcoin's center of gravity. Once ruled by offshore venues and retail-driven fervor, the world's largest cryptocurrency is now increasingly priced and steered from within the US financial system. Read more here and listen to our Bloomberg Australia podcast on the latest Bitcoin frenzy here.

What to watch

• Nothing major scheduled

One more thing...

Robots lorded over China's most important annual AI conference in Shanghai this week. Thousands turned up to gawk at the antics of a bewildering array of droids at work: dispensing popcorn and drinks (messily), peeling eggs, sparring in a boxing ring, playing mahjong or just wandering around the cavernous exhibition hall. Watch them in action here.

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