| The Pentagon has launched a review of the Biden-era Aukus pact to develop nuclear-powered submarines with Australia and the UK, as the Trump administration looks to shift the burden for collective defense to allies and make sure the US has enough warships of its own. “Unsustainable” rising costs of operating from Singapore’s Changi airport were partly to blame for the closure of Qantas’s low-cost subsidiary Jetstar Asia, executives said. The offshoot will stop operating July 31, enabling Qantas to free up as much as A$500 million in capital to fund the group’s fleet renewal program.  A Jetstar airplane approaches landing at Changi Airport, in Singapore. Photographer: Charles Pertwee Morgan Stanley’s Australia chief Richard Wagner said he’s seeing a return of initial public offerings and merger activity after a “horrible” first half as the country’s stability draws overseas capital. The M&A pipeline is “very strong” in Australia, which augurs well for the next six months, he said. The European Union is ready and willing to make a second attempt at securing a free trade deal with Australia, EU Ambassador Gabriele Visentin said on Wednesday, but added that the main obstacles to an accord that were identified in 2023 are largely unchanged. New Zealand’s central bank said former governor Adrian Orr resigned over government cuts to the bank’s funding, according to documents released following official information requests by a number of media outlets. Nuveen has raised A$300 million from Canada Pension Plan Investment Board for its commercial property debt fund in Australia. Dugald Marr, the firm’s head of debt Australia and New Zealand, said investors are drawn to Australia’s liquid market and its status as a a safe haven in the Asia Pacific. | 
