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1819 articles · page 28 of 38

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Business

ASX set for cautious start on RBA rate decision day; futures edge higher

The Australian sharemarket is poised for a flat open on the day of the Reserve Bank's interest rate decision, with ASX futures up just 2 points at 8722. Economists widely expect the RBA to raise the cash rate by a quarter of a percentage point to 4.6 per cent, its highest since November 2011, and traders are pricing an end to the bank's two-meeting pause amid spiralling global energy prices. Attention will focus on Governor Michele Bullock's post-decision press conference for signals on whether a follow-up hike is likely in November.

· 4 sources
Business

Atlassian CEO pushes back on SaaSpocalypse fears, says AI is driving more tool usage

Atlassian co-founder and CEO Mike Cannon-Brookes has pushed back against the so-called SaaSpocalypse narrative, arguing that artificial intelligence is actually increasing usage of his company’s tools rather than rendering them obsolete. In a wide-ranging interview on The Verge’s Decoder podcast, Cannon-Brookes addressed concerns that AI could build workplace software from scratch, potentially destroying the $200-billion-plus software-as-a-service (SaaS) industry. The comments come amid a broader debate over AI’s impact on enterprise software stocks.

Startups

Maritime intelligence startup Quartermaster raises $140M Series B

Arlington, Virginia-based maritime intelligence startup Quartermaster has closed a $140 million Series B funding round, just months after its $43 million Series A. The round was preempted by software-focused venture firm Insight Partners and includes new investor Overmatch Ventures, along with existing backers like First Round Capital, with the remaining $40 million coming as a debt facility from investment bank Stifel.

· 2 sources
Business

Data Center Developer Offers $10,000 Payments to Pennsylvania Households, Faces Local Opposition

NorthPoint Development has proposed building a data center on 1,300 acres in the Pocono foothills near Hazle Township, Pennsylvania, and is offering $10,000 checks to each of the area's roughly 4,500 households if the project is approved. Despite the median household income being around $60,000, the offer has not been warmly received by many residents, who cite concerns over noise pollution, water and energy costs, property values, and a distrust of both AI moguls and local government. Hazle Township's government previously rejected the project on zoning grounds and enacted a temporary moratorium on data center construction.

Business

TasWater Suggests Smaller Pipes to Offset Water Bill Hikes, Businesses Balk at Cost

TasWater has drawn sharp criticism from Tasmanian businesses after suggesting that customers affected by water bill increases of up to 500 per cent could reduce their meter connections to 20 millimetres to lower costs. The proposal emerged during a parliamentary inquiry on Thursday, as the utility defends average annual price rises of 5.7 per cent over four years, which took effect in July.

· 2 sources
Business

Sydney NDIS housing developer collapses; liquidators probe $5m in missing cash

A Sydney developer who raised millions from investors to build housing for people with disabilities has gone into liquidation, with administrators questioning the legitimacy of $5 million in cash withdrawals made before the company collapsed. Fairy Meadow House Pty Ltd, named for the Wollongong suburb where the project was to be built, entered liquidation in May, and its director Shaun Mowbray was declared bankrupt in July with just $150 in the bank.

· 2 sources
Business

Meta and YouTube Reverse Course, Will Run Ads for Elon Musk Documentary

Meta and YouTube have reversed earlier decisions to reject paid advertising for Alex Gibney's upcoming documentary about Elon Musk, after The Hollywood Reporter reported that multiple social media platforms had refused to run the ad. A Meta spokesperson said the rejection was "an error" and the ads were being restored, while YouTube said its system had "temporarily restricted" the trailer before clearing it following review.

Business

Tesla Launches High-Volume Production of Semi Truck, Infrastructure Challenges Loom

Tesla has officially launched high-volume production of its long-awaited Semi electric truck at a factory in Sparks, Nevada, targeting the cost-conscious fleet management market. The invite-only event, streamed live, featured company executives thanking early adopters, while CEO Elon Musk appeared only in a pre-recorded video, as he attended a White House China State Dinner. Despite the production milestone, the heavy-duty electric truck faces a significant infrastructure challenge, particularly regarding charging networks for long-haul routes.