Good morning, it's Carmeli in Sydney here to bring you all the latest news to start your week.

Today’s must-reads:

• Australia becomes world’s third-largest big battery market
• Vision Super divests from G8 Education
• Zelenskiy, Trump will meet to discuss peace deal with Russia

What's happening now

Battery investors are piling into Australia, chasing profits from the world’s most volatile power market by deploying storage that buys low and sells high. Australia this month overtook the UK to become the world’s third-largest market for big batteries by installed capacity, after the US and China, according to Rystad Energy. That growth is set to continue.

Hong Kong pro-democracy activist Ted Hui said he’s been granted asylum in Australia, more than four years after he left the city to evade national security charges. The former lawmaker said in a post on Facebook that he’d received written notice from the Department of Home Affairs granting protection visas to him, his wife, children and parents.

Australian pension fund Vision Super has divested its shareholding in G8 Education following allegations that children were sexually abused at a center run by the early learning services provider. Vision Super sold its about A$3.3 million ($2.2 million) worth of G8 Education shares in early August, according to Chief Investment Officer Michael Wyrsch.

Sweeping rain over the past month has put Western Australia on track for a near-record grain crop this season, according to an industry group, which raised its estimates for wheat production by more than 20%. Wheat output is forecast at 11.5 million tons for 2025-26, up from an earlier estimate of 9.4 million tons, a monthly report from the Grain Industry Association of Western Australia shows.

What happened overnight

Here’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping…

US stocks fell from all-time highs as data showed a broad-based advance in US retail sales, but consumer sentiment unexpectedly fell and inflation expectations rose. The dollar finished lower on the day and the week, while Aussie and Kiwi trimmed weekly declines. RBNZ’s Wednesday decision on interest rates is New Zealand’s highlight for the week ahead, with Westpac consumer confidence on Tuesday Australia’s. Offshore, the US Federal Reserve hosts a three-day symposium of global central bankers at Jackson Hole from Thursday. ASX futures point to a soft opening for local stocks.

European leaders will join Volodymyr Zelenskiy at his high-stakes meeting with Donald Trump on Monday in Washington, a show of support as Ukraine’s leader faces growing US pressure to agree to a quick peace deal with Russia that involves ceding swaths of territory. That comes after Donald Trump and Vladimir Putin agreed last week that the US would be able to offer security guarantees to Ukraine.

Vladimir Putin, Russia's president, left, and US President Donald Trump during a joint news conference at Joint Base Elmendorf-Richardson in Anchorage, Alaska, US, on Friday, Aug. 15, 2025. Discussions between President Donald Trump and Russian counterpart Vladimir Putin concluded after more than two and a half hours at their summit in Alaska. Photographer: Al Drago/Bloomberg

Hundreds of thousands of Israelis took to the streets on Sunday to protest Prime Minister Benjamin Netanyahu’s plan to expand operations in the Gaza Strip, rather than attempt to negotiate an end to the war under which Hamas would free its last hostages.

Emerging-market funds are pivoting to capture the artificial intelligence craze, with some investors predicting that booming technology spending will drive returns for years to come.

What to watch

• Nothing major scheduled

One more thing...

Cohousing, a concept that is said to have originated in Denmark, is spreading throughout Europe, with real estate experts pointing to Zurich as one of the places leading the way. These aren’t your typical communal dwellings filled with a few students or young people embarking on their careers. Instead, they’re spaces for 8, 10, 12 or even more residents that are increasingly popular with single professionals, families and seniors.

Cohousing residents playing a board game within their cluster flat. Photographer: Lena Amuat for Bloomberg Businessweek