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Business news from Australia and around the world: companies, deals, earnings, regulation and the people running them.
1820 articles · page 27 of 38
Two Google alumni have closed an $11.3 million fund to back early-stage AI startups, betting that the era of enterprise AI experimentation is ending and that customers will increasingly pay only for products that prove their worth.
· 2 sourcesUK-based banks have provided $8.3 billion (£6.2 billion) in coal financing since the COP26 climate summit in Glasgow in 2021, making them Europe's biggest financial backers of the coal industry, according to a new report.
· 2 sourcesPoundland's management team are in advanced talks to lead a rescue bid for the ailing cut-price retailer, a deal that could protect up to 11,000 jobs, the Guardian has learned.
· 2 sourcesGreggs has announced plans to close four of its UK factories, a move that could result in 740 job losses over the next two and a half years. The bakery chain said it is consulting on the closures, which it described as necessary to provide growth in the 'most cost-efficient manner'.
· 2 sourcesLarvotto Resources has significantly extended the mineralised envelope at its Hillgrove antimony-gold project in New South Wales, with drilling at the Clarks Gully prospect returning thick high-grade intercepts outside the existing resource. The results include a strong tungsten intersection that comes as prices for the strategic metal have surged more than tenfold over the past 18 months on Chinese export controls and rising defence demand.
· 2 sourcesPrediction market platform Kalshi is in advanced talks to raise about $1 billion at a $40 billion valuation, according to people familiar with the matter, just four months after closing a $1 billion round at a $22 billion valuation.
Household energy bills in Great Britain are predicted to soar by £276 a year from January, the biggest quarterly jump since January 2023, as the impact of the Middle East war continues through winter. The government's price cap is poised to rise by 16% to the equivalent of £1,999 for the average annual dual-fuel bill, according to leading forecaster Cornwall Insight.
· 2 sourcesBroken Hill Gold has more than doubled its regional exploration footprint in South Australia to over 1500 square kilometres after winning tenders for two new exploration licences hosting the historic high-grade Manna Hill and Waukaringa goldfields, the company announced.
· 2 sourcesVodafone has become the first Australian telco to offer a 48-month device repayment plan, allowing customers to spread the cost of a new phone over four years in an interest-free deal that halves monthly payments on premium handsets. The option, launched on Tuesday, comes as smartphone prices exceed $5000 and Vodafone data shows the proportion of customers using a phone four years or older has doubled since 2021.
· 2 sourcesBitcoin's recent rally to an eight-month high may be losing momentum, with an onchain 'bull score' gauge tracked by CryptoQuant approaching its ceiling and spot demand declining markedly, according to the analytics firm.
PLC Resources has completed an eight-hole reverse circulation drilling campaign at its Rochefort gold prospect in Western Australia's Murchison region, intersecting sheared sulphide-bearing zones within the targeted fractionated dolerite that the company says matches its exploration model. All samples have been sent to the laboratory, with gold assays expected in four to six weeks.
· 2 sourcesFrontier AI company Anthropic is preparing for an Initial Public Offering that could value the firm at $2.9 trillion, according to a leaked prospectus reported by Reuters. The documents, analysed by senior business columnist Stephen Bartholomeusz, lay bare a stark financial paradox: revenue is skyrocketing while losses remain staggering.
· 2 sourcesA small lesbian bar in Greenfield, Massachusetts, has become an international flashpoint after its decision to make Saturday nights mask optional prompted a furious backlash from customers and a viral investigation in The Boston Globe.
· 2 sourcesTreasurer Jim Chalmers has said ABC finance presenter Alan Kohler will be 'really missed' after the 74-year-old announced his retirement following a 31-year career at the national broadcaster. Kohler will leave at the end of the year, telling ABC staff he wants to spend more time with his six grandchildren.
· 8 sourcesCanberra-based CDC Data Centres has unveiled plans for a $15 billion data centre on council-owned land next to a landfill facility at Gregadoo, 15 kilometres from Wagga Wagga in south-western New South Wales. The 1.4-gigawatt development, if approved, would rank among Australia's largest data centres, trailing only proposals such as Anthropic's $32 billion plan in Dalby, Queensland, Syncline Energy's 2.4 gigawatt hub in north-west Melbourne, and a 185-hectare site near Darwin.
· 2 sourcesTesla has secured $30 billion in new credit lines from Citibank and Wells Fargo to support the scaling of its Cybercab robotaxi, Optimus humanoid robot, and Tesla Semi truck, the company announced Tuesday in a regulatory filing. The automaker stated it does not intend to draw on these facilities this year.
Six Flags Magic Mountain has announced it will permanently close the X2 rollercoaster after hundreds of riders alleged they suffered brain injuries, with the park's president saying the ride, which has been shut since July, is being retired because 'when we see guest confidence affected, we take it seriously.'
· 3 sourcesThe Australian sharemarket is expected to open little changed on Wednesday as traders digest the Reserve Bank's move to lift interest rates to a 15-year high and await key inflation figures that could signal whether more hikes are coming.
· 2 sourcesThe collapse of Macarthur Energy, trading as Macarthur Solar, has left more than a dozen customers fearing they have lost deposits of up to $17,600 for solar battery systems that were never installed, as the New South Wales Building Commission investigates over 100 complaints about the company's practices.
· 2 sourcesHygge Hotel and Villas Seminyak, a new boutique property in Bali's Kerobokan district, offers guests a tranquil Scandinavian-inspired retreat, according to a review published in the Brisbane Times and Sydney Morning Herald.
· 2 sourcesThe chief executive of the company that runs the Eiffel Tower will step down following a backlash over female employees being replaced by male colleagues during a visit by a Hindu religious group. Patrick Branco Ruivo, who has been director general since 2018, will leave his job at the end of the year, the company SETE announced. An internal investigation found 'operational flaws and shortcomings' in organising the visit that led to the 'unacceptable' removal of female staff.
BrewDog's new owner, US cannabis and drinks group Tilray, has urged customers to give the ailing brewer a second chance as it invests more than £50m in the brand's beers, pubs and working conditions.
· 2 sourcesSmart ring maker Oura has postponed its initial public offering, citing market uncertainty, while AI giant Anthropic's IPO prospectus reveals soaring revenue alongside massive losses and long-term infrastructure obligations exceeding half a trillion dollars.
Labour politician Andy Burnham has unveiled plans for a publicly owned electricity grid operator, Great British Grid (GBG), but the proposal stops short of nationalising existing assets, prompting a muted reaction from the market.
Soho House has launched an investigation after out-of-date food was mislabelled in the kitchen of its Shoreditch House venue, following a TikTok video posted by a former employee exposing the issue. The private members' club, which charges up to £4,500 a year for membership, has apologised.
· 2 sourcesApple's new chief executive officer, John Ternus, intends to move the company away from its traditional twice-a-year product launch cadence, according to a Bloomberg report. Ternus is said to believe Apple must introduce products more quickly and become more experimental to remain competitive in the artificial intelligence era.
Konrad Zieliński lost his voice to cancer while a student at the University of Warsaw. After completing a PhD in bionic systems for laryngectomees — people who have had their larynxes removed — he launched Uhura Bionics in 2023 to develop noninvasive wearable speech devices. The startup, selected for TechCrunch Disrupt 2026's Startup Battlefield 200, offers two models including a high-end version called Whitney that aims to restore emotional expression such as laughter, shouting and singing. Zieliński will demonstrate the device at Disrupt in October and at SF Tech Week, where he plans to sing onstage.
· 2 sourcesQueensland Ballet recorded a net operating loss of $5.24 million in 2025, as annual box office revenue fell by nearly 30% to $5.1 million from $7.6 million the year before. The loss follows a $9.5 million deficit in 2024 that prompted the company to cut 29 staff, including eight dancers.
· 2 sourcesIn July 2026, the hottest month ever recorded in the United States, utilities disconnected electricity for 173,598 households across 10 states, a 28% increase compared with July 2024, according to figures provided to the Guardian.
Smart ring maker Oura has indefinitely postponed its up to $2.2 billion initial public offering, citing "uncertainty in the IPO market." The company had filed to offer 55 million shares at $40 to $44 each, a range that would have valued it at up to $15 billion.
· 3 sourcesDemand for UK mortgages slumped to a 32-month low in August, with only 54,918 approvals for new home purchases, as rising borrowing costs linked to the war in Iran deterred buyers, the Bank of England reported on Tuesday.
· 2 sourcesMarks & Spencer has signed a deal with French beauty retailer Sephora to open branded areas in 100 of its stores and sell its products through the chain's website, in its latest attempt to attract younger shoppers. The spaces will be staffed by Sephora employees and launch in spring next year.
· 2 sourcesThe boss of Britain's biggest insurer, Aviva, has warned that new homes being built in flood-risk areas could become uninsurable in the future, as the threat from flooding intensifies. Amanda Blanc made the comments while also cautioning ministers against 'kite flying' before the upcoming budget.
· 2 sourcesBoston-based supply chain startup Atomic has raised $12.5 million in Series A funding led by Klass Capital and Madrona Venture Group, bringing its total funding to just over $15 million. The company, founded by former Tesla supply chain leaders, uses AI to simulate inventory scenarios and autonomously recommend or execute purchasing decisions, a system that grew out of the 2018 Model 3 production ramp at Tesla.
· 2 sourcesModern cars collect vast amounts of personal data about their drivers — where they go, how fast they drive, how hard they brake — and regulators are beginning to take notice. The Federal Trade Commission penalized General Motors last year for illegally selling driving data without consent, while Ford and Honda have faced smaller fines for making it overly difficult for customers to opt out. A new study highlighted by The Verge suggests the problem is far worse than most drivers realize.
The green energy entrepreneur and Labour donor Dale Vince is planning to launch a London-wide news operation as part of a rescue package for the publisher of the Camden New Journal, Islington Tribune and Westminster Extra.
· 2 sourcesThe Reserve Bank of Australia is widely expected to lift interest rates at its meeting today, according to reports from the Sydney Morning Herald and Brisbane Times. The decision comes as the central bank continues its efforts to manage inflation and economic growth.
· 2 sourcesHM Revenue & Customs has awarded Salesforce a contract worth up to £2.4 billion including VAT to provide CRM software and related services for at least ten years, as part of a sweeping modernisation of taxpayer-facing technology.
Wall Street has spent the past two weeks swinging between two extreme narratives about artificial intelligence, with hundreds of billions of dollars moving out of and then back into AI-exposed stocks after leading tech executives called for a slowdown in AI development.
Rio2 Limited has rebounded from a brutal Chilean winter at its Fenix Gold mine, where a series of severe snowstorms halted mining operations through July and August, but the company says the operation remains on track to reach commercial production during the fourth quarter.
· 2 sourcesAnthropic has warned that its artificial intelligence technology could pose existential risks to humanity, including models that attempt to resist shutdown or conceal information, according to the prospectus for its planned initial public offering. The company is expected to pursue the largest IPO in history with a valuation of up to $2 trillion, but dedicated nearly a third of the filing to risk disclosures.
· 5 sourcesThe Reserve Bank of Australia (RBA) has raised the cash rate by 25 basis points to 4.6 per cent, the highest level in 15 years, in a unanimous decision aimed at curbing persistent inflation. The move comes as the U.S. 10-year Treasury yield surged to 5.11 per cent, its highest since 2007, triggering a sell-off in risk assets including cryptocurrencies, with bitcoin falling below $84,000 and dogecoin dropping 8 per cent.
· 10 sourcesOrbit Resources has intersected two broad zones of strong sulphide mineralisation in an ongoing diamond drilling program at its Lewis Ponds gold, silver and base metals project in New South Wales' Lachlan Fold Belt, with assays yet to confirm grades.
· 2 sourcesGold has had a volatile 2026, swinging from a record high above $US5,500 an ounce to a year low below $US4,000, in a reflection of the cross-currents buffeting the global economy, according to a senior business columnist.
· 2 sourcesOne of Australia's largest medicinal cannabis cultivators, Tasmanian Botanics, is now almost entirely owned by Chinese-owned firm Yongji Health after it purchased the remaining shares in parent company Pijen in a deal worth about $31 million, according to industry publication Cannabiz.
· 2 sourcesReports carried by The Sydney Morning Herald and Brisbane Times signal that an interest rate increase by the Reserve Bank of Australia is all but certain, pointing to higher borrowing costs for households.
· 5 sourcesMichael Burry, the investor famous for predicting the 2008 financial crisis, has issued a stark warning: the world's largest technology companies are hiding a $4.3 trillion debt burden from massive data centre investments that could trigger an economic crash if the AI boom fizzles.
· 2 sourcesPeak XV Partners has raised the investment ceiling for its Surge seed platform to $5 million per startup, up from $3 million, and announced its twelfth cohort of 18 companies. Managing Director Rajan Anandan cited the rising bar for Series A funding and the capital needs of deeptech companies as key factors behind the increase.
· 3 sources