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Here’s what you need to know today

• China has announced sweeping new restrictions on rare earth exports in its latest move to tighten control over materials essential for computer chips, electric vehicles and defence equipment. The rules bar the transfer of any equipment or information that would help other countries establish their own rare earth production, and require export licenses for products containing as little as 0.1% Chinese rare earth content. China refines 99% of the world's dysprosium, a key rare earth used in semiconductors. (NYT)
  
  

• As a result of the restrictions from China, President Trump announced he will hit China with an additional 100% tariff starting November 1. Trump also threatened to cancel an expected summit with Chinese President Xi Jinping later this month, though he later suggested he remained open to meeting. (WSJ)
  
  

• Trump’s tariff announcement spooked Wall Street on Friday, with the S&P 500 falling 2.7%, the Nasdaq dropping 3.6%, and the Dow losing 1.9%. It was the worst one-day fall since 10 April, which was a week after Trump’s Liberation Day announcements.(AFR)
  
  

• Prime Minister Anthony Albanese is scrambling to lock in a critical minerals deal with the US before meeting President Trump on October 20, with leaked plans revealing Australia would mandate price floors and invest $1.2 billion in a strategic reserve. Officials have started contacting Australian miners about the reserve. (SMH)
  
  

• In a surprise to no one, the Reserve Bank Governor Michele Bullock told a senate committee that the government's expanded 5% deposit scheme could push house prices higher in the short term. While Treasury modelling suggested a modest 0.5% increase over six years, some economists have warned the impact could be as high as 10% in some areas. (SMH)
  
  

• The Prime Minister wants more competition in Australia’s supermarket sector. Anthony Albanese has invited Emirati hypermarket chain LuLu Group to compete with Coles and Woolworths, but retail experts say breaking into Australia's supermarket sector isn't easy. German giant Kaufland abandoned plans to enter Australia citing a lack of suitable sites, while it took Aldi 24 years to reach just under 10% market share. (ABC)
  
  

• It’s not just gold hitting all-time-highs. Silver hit the historic $50 mark for the first time since 1980, gaining 73.5% in 2025 compared to gold's 54% rise (WSJ). Meanwhile, Japan's stock market - the Nikkei - surged 4.75% after Sanae Takaichi was confirmed as the country's next prime minister, with markets betting she will boost government spending and keep interest rates low (Reuters), and China's Shanghai Composite Index also hit a 10-year high, the highest level since August 2015 (Trading Economics).

What the…?

We’ve heard about some strange ways to make money online, but this still caught us by surprise. A woman in San Francisco has built a business naming people’s children. The price? $30,000 per name.

The 37-year-old Taylor Humphrey has reportedly named 500 babies so far. And while we’re sure all 500 didn’t fetch the full $30,000, doing that math's still has us wondering if we can start a similar baby naming service here in Australia. (Yahoo)

Investing is a lifelong journey

Here’s what you can learn today

Smart tax moves for couples

This is an excerpt from our Equity Mates Investing Ask an Adviser episode with Glen Hare, financial adviser and cofounder of Fox & Hare (Apple | Spotify | YouTube)

What are some tax strategies couples can consider as they merge finances and plan their futures together?

Glen: Here are four to think about:

1. Invest in the lower-income earner’s name to reduce the overall tax paid on investment returns.

2. Use spouse super splitting to balance retirement savings and avoid future tax issues.

3. Consider a family or discretionary trust for flexibility in distributing income between partners, especially if one has a lower marginal tax rate.

4. Model future super balances to plan for efficient contributions and long-term tax outcomes.

The key takeaway: understand your marginal tax rates as individuals and as a couple, and structure your investments and super contributions with that in mind.

Want to speak to Glen or another of our hand-picked financial advisers? Fill out the form on our website and we’ll match you with an adviser that suits your needs.

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