S&P Global Ratings assigned a 'BBB' long-term issuer credit rating to TPG Telecom (ASX: TPG), the third-largest telecommunications service provider in Australia. The rating reflects TPG's strong market position, stable earnings, and financial policies, though a negative outlook is issued due to uncertainties around capital reinvestment and debt reduction plans following a $4.7 billion asset sale to Vocus Group Ltd.

S&P Global reported strong Q2 earnings with 6% year-over-year revenue growth and 150 basis points of trailing 12-month margin expansion, driven by AI initiatives, subscription revenue growth, and private markets expansion. Challenges include a 4% decline in Billed Issuance, sanctions impacting Commodity Insights, and 1% growth in Upstream Data & Insights due to energy sector customer consolidation.

S&P Global upgraded American Tower's credit rating to 'BBB+' with a stable outlook, citing stable earnings growth, strong cash flow, and the potential of 5G network deployments to boost revenue. The upgrade also highlights the company's reduced exposure to high-risk emerging markets and growth in data center operations, though capital expenditures may impact free cash flow.

Global stock indices fell sharply following weak US jobs data and Trump's tariff announcements. The MSCI global equities index dropped, with the Dow Jones and STOXX 600 seeing their largest declines since April. US Treasury yields fell as markets anticipated September rate cuts. Oil prices dropped due to OPEC production concerns, while gold rose as investors sought safety. Armenia and the US held joint military exercises.

US President Donald Trump announced new tariffs on over 90 countries, causing global stock markets to decline as investors fear economic repercussions. The tariffs, part of a trade war, have led to concerns about rising prices for consumers and disruptions to trade relationships. Key countries like Canada, Mexico, Brazil, and Switzerland face significant tariff increases, with Brazil facing 50% levies on major exports. The US-Mexico-Canada Agreement (USMCA) provides some exemptions for Canadian goods, while Switzerland's tariffs have risen to 39%, exacerbating economic strain. The move has sparked political protests and economic debates, with critics arguing the tariffs harm the US economy and global trade.