Trump Says Iran Strike Called Off After Discussions

Good morning. President Trump says he has has called off a planned strike on Iran, while offering no time frame on renewed talks. Meanwhile, Commonwealth Bank, the world’s most unloved megabank, is facing headwinds, multiple analysts warn. And, the mining M&A continues, as Anglo American has officially agreed to sell its massive coal portfolio in Queensland for US$3.8 billion to Dhilmar. — Paul-Alain Hunt, Metals and Mining Reporter

Commonwealth Bank could be heading into a rough patch, with analysts warning that slower lending growth and possible changes to property taxes are starting to hurt the outlook for Australia’s biggest bank. It’s mortgage-heavy business leaves it exposed to high rates, sticky inflation and looming tax changes that may curb investor demand for housing.