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Business news from Australia and around the world: companies, deals, earnings, regulation and the people running them.
1813 articles · page 33 of 38
Farmers in the UK and US are facing a sharp increase in diesel prices, with costs rising 10% in less than a week due to renewed Middle East conflict and Russia's extended ban on diesel exports, according to reports.
· 2 sourcesThe Group of Seven nations agreed on Friday to release diesel stocks from national reserves in an effort to combat soaring fuel prices, while President Donald Trump signed an executive order on Monday aimed at addressing the crisis. The moves come as UK coach operators warn that record diesel prices may force cuts to school transport and other services, and as diesel prices in the United States reach an all-time average of $6.32 per gallon, a 68 per cent increase since the start of the Iran war in February.
· 23 sourcesMinisters are expected to approve the controversial Jackdaw gasfield in the North Sea within weeks, with Energy Secretary Miatta Fahnbulleh likely to recommend the project as early as next week, according to government sources.
· 2 sourcesThe Australian Securities and Investments Commission (ASIC) is investigating 551 whistleblower complaints about alleged audit misconduct at the big four accounting firms — KPMG, PwC, EY and Deloitte — as the regulator examines whether further enforcement action is needed in the wake of revelations that confidential board papers were used to support audit tender bids.
· 2 sourcesGoogle Cloud suffered a partial outage in its us-central1-b region on September 1, lasting from 07:41 to 11:52 PT, after an engineer inadvertently disconnected every network fiber-optic cable during routine hardware maintenance, causing severe network degradation and rendering virtual machines unreachable.
The UK government has not done enough to protect the nation's food supplies from growing threats including the climate crisis, disease outbreaks and cyber-attacks, according to a report from the public spending watchdog, the National Audit Office (NAO).
· 2 sourcesThe board of Volkswagen has approved an additional 50,000 job cuts, bringing the total number of positions the company plans to eliminate by 2030 to 100,000 — the largest restructuring in the carmaker's nearly nine-decade history.
· 6 sourcesOura, the Finnish smart ring manufacturer, has filed to go public, disclosing a surge in revenue and subscriber growth. In its SEC filing on Thursday, the company reported $1.2 billion in revenue for the nine-month period ending June 30, compared to $697 million in the same period last year, and said it has 5 million paid members.
Volkswagen has announced it will cut 100,000 jobs by the end of the decade, representing 15% of its workforce, as the German carmaker struggles under the weight of US tariffs and intensifying competition from Chinese rivals. The cuts, agreed between management and unions, will also see the company halve its product line in what is being called the sector’s largest-ever restructuring.
· 2 sourcesFusion startup Realta Fusion announced a deal this week with Madison Gas and Electric to explore the construction of a 200-megawatt fusion power plant in Wisconsin, marking one of only a handful of utility-fusion partnerships globally as grid operators scramble to secure baseload power for an AI-driven energy surge.
· 2 sourcesNetflix has greenlit a live-action series based on the Dungeons & Dragons campaign setting Ravenloft, with Oscar-winning director Alfonso Cuarón attached as executive producer and writer John August co-writing and executive producing alongside Hasbro Entertainment.
Thinking Machines, the AI lab founded by former OpenAI CTO Mira Murati, is in discussions to raise $1 billion at a valuation of at least $40 billion, according to a report from The Information. Existing backer Accel is in talks to lead the fundraise, sources told The Information and TechCrunch.
· 3 sourcesTechCrunch is calling for volunteers to help run its rebranded Boston event, the TechCrunch Founder Summit (formerly All Stage), scheduled for November 4th. Selected volunteers will gain behind-the-scenes event experience, a ticket to the summit, and a free pass to Disrupt 2027.
· 2 sourcesSalesforce has blamed its heavy spending on Anthropic's Claude AI model for a drop in its full-year operating margin guidance, with a senior finance executive telling investors last week that token costs were sufficient to manage expectations. The CRM giant's operating margin is forecast at 20.1 percent for the full year, down from 20.5 percent in the second quarter, as the company pours resources into AI development.
Sonos CEO Tom Conrad says the company has fully recovered from the catastrophic 2024 app redesign that threatened to destroy the brand, and is now embarking on a new chapter with a major platform launch called Sonos 27. In a wide-ranging interview, Conrad detailed the structural fixes, product shifts, and strategic rethink that have turned the company around.
Venture capital investment surged 122% year-over-year in August, with global startups raising $42 billion across just over 1,500 deals, according to Crunchbase data, even as total funding dipped 25% from July’s blockbuster $56 billion.
Intel has told employees it will no longer award the 'Fellow' title to its top scientists and engineers, replacing it with 'Distinguished Engineer' as part of a cultural shift that requires technical leaders to deliver measurable business outcomes. The change, announced last week by Intel CTO Pushkar Ranade, affects compensation only in form—salaries remain unchanged—but signals a new standard of technical leadership combining deep expertise with strategic vision and 'measurable tactical progress.'
British housebuilder Crest Nicholson has issued a surprise profit warning, saying it expects to report an annual loss as it grapples with difficult trading in a subdued property market.
· 2 sourcesMicrosoft is restructuring its financial reporting by consolidating its three business segments into two – Agents and Infra and Devices and Consumer – and will begin disclosing quarterly revenue for its Azure cloud business for the first time. The changes, aimed at better reflecting the impact of artificial intelligence on the company's operations, were announced Wednesday.
Anker has unveiled its first over-the-counter (OTC) hearing aids at IFA 2026, a move that comes just months after a major competitor exited the US market, potentially leaving room for a new entrant to serve consumers.
UK homeowners are bracing for a significant increase in mortgage rates as swap rates—the benchmark lenders use to price home loans—have risen to a three-year high amid a global bond market sell-off, driven by rising oil prices and renewed fears of higher inflation.
· 2 sourcesThe Rio Tinto-owned Bell Bay aluminium smelter in northern Tasmania is on the verge of closure as negotiations for a new power agreement with Hydro Tasmania remain deadlocked, with a $600 million gap over ten years. The potential shutdown follows the liquidation of the nearby manganese smelter, leaving the town of George Town facing economic collapse.
· 2 sourcesLondoners can now hail self-driving taxis for the first time after Wayve’s autonomous vehicles were added to the Uber app on Thursday, though the initial fleet is limited to 15 cars – a fraction of the more than 100,000 private hire vehicles in the capital.
· 2 sourcesThe NBA has imposed the largest fine in league history — $30 million (£22.2m) — on the LA Clippers and stripped the franchise of five first-round draft picks after an investigation found the team violated salary cap rules to funnel millions of dollars to star player Kawhi Leonard through off-court endorsement deals. Commissioner Adam Silver called the violations 'flagrant' and said the severity of the penalties reflects the seriousness of the misconduct.
Chevron announced early Wednesday that it has secured additional acreage in Venezuela's Orinoco Belt and plans to invest more than $7 billion over the next five years, significantly expanding its operations in the country. The deal, formalized alongside Italy's Eni in Caracas, is expected to double Chevron's current output, building on its position as the only major U.S. oil firm with a significant presence in Venezuela.
· 4 sourcesThe NBA has imposed sweeping penalties on the Los Angeles Clippers for salary cap circumvention, fining the team US$30 million ($41.5 million), suspending owner Steve Ballmer for one year and forcing the franchise to forfeit five draft picks after a near year-long investigation.
A federal judge ruled Wednesday that Google can keep its advertising technology business intact, rejecting the Justice Department's bid to force a breakup. Instead, the company must adjust its business practices to favor competitors, mirroring the outcome of a separate search antitrust case last year.
A federal judge has ruled that Google does not have to divest its advertising technology business, rejecting the Department of Justice’s bid to force the search giant to sell off its AdX exchange. U.S. District Judge Leonie Brinkema delivered the decision Wednesday, declining to impose what would have been one of the most sweeping antitrust remedies against a major tech company.
· 3 sourcesThe board of Berlin-based Delivery Hero has formally endorsed Uber’s $15 billion takeover offer, recommending that shareholders approve the acquisition that would create one of the world’s largest on-demand food delivery platforms outside of China.
Uber has announced it is shutting down operations in Nigeria and Uganda with immediate effect, the latest in a series of African market exits as the company restructures globally. The ride-hailing firm said it reached the 'difficult decision' after a thorough review of its business, and confirmed the move does not affect its presence in other African countries.
Lyte, a Physical AI startup founded by three former Apple engineers and focused on sensing and perception technology for robots, has raised $165 million in Series C funding at a $1.6 billion post-money valuation, bringing its total raised to $272 million.
A US federal judge has ruled that Google will not be required to sell its online advertising exchange, known as AdX, despite the company losing a landmark antitrust trial in 2025. The decision marks a significant setback for the Department of Justice, which had sought the divestiture as a remedy for Google's abuse of market power in the digital ad market.
Uber drivers from the UK, the Netherlands and other European countries have launched a landmark class action against the ride-hailing company, alleging that its AI-powered pay-setting system violates data protection laws and systematically pushes down their earnings.
· 2 sourcesAdobe has acquired Rilo, an India-based marketing intelligence startup, in a deal that includes licensing and team acquisition, TechCrunch has learned and the company confirmed. The terms of the deal were not disclosed. This marks Adobe's second acquisition from India, following its purchase of video platform Rephrase.ai in 2023.
· 3 sourcesUber is laying off approximately 3,300 employees, or 10% of its global headcount, as part of a restructuring announced Wednesday by CEO Dara Khosrowshahi. The cuts aim to reduce management layers by 20%, streamline operations, and reallocate resources toward ride-sharing, delivery, and robotaxi divisions.
The US Department of Energy has warned that the risk of power outages is expected to escalate across a broad swath of the United States on Wednesday as an intense heatwave tests the capacity of electricity supplies serving millions of homes and businesses from the Midwest through the Mid-Atlantic.
Tim Cook has been granted a $47m (£35m) pay package as Apple's executive chair, stepping down as chief executive after handing over to John Ternus on Tuesday. The deal nearly matches the $58m award for Ternus, who now leads the $4.7tn tech company.
· 2 sourcesA global sell-off in government bonds resumed on Wednesday, pushing UK borrowing costs to their highest level since the 2008 financial crisis and adding to the challenges facing Chancellor John Healey ahead of his first budget.
· 2 sourcesJioHotstar, the streaming platform owned by Indian conglomerate Reliance Industries, is expanding internationally for the first time, replacing Hotstar in the UK, Canada, and Singapore starting September 2. The service launches with more than 160,000 hours of entertainment content but notably excludes live sports, a key driver of its massive Indian audience.
A federal judge has dismissed the remaining claims in a high-profile lawsuit against Lizzo and her production company, brought by former wardrobe stylist Asha Daniels, who alleged bullying and harassment in the workplace.
Thrive Capital founder Josh Kushner has broken his silence on the venture firm’s involvement in the failed FIFA Forward Enterprise plan, issuing a statement defending the soundness of the original idea while acknowledging the controversy has escalated beyond what his firm anticipated. Kushner has also retained Alex Spiro, the high-profile attorney known for representing Elon Musk, as the European football association UEFA pursues legal action against FIFA President Gianni Infantino over the proposed $20 billion entity.
The Pentagon’s senior official overseeing military artificial intelligence policy, Emil Michael, sold between $5 million and $25 million worth of stock in the AI search company Perplexity earlier this year, according to financial disclosures seen by the Guardian. The sale comes after Michael reaped up to $24 million selling his stake in Elon Musk’s AI firm xAI in January, raising fresh questions about potential conflicts of interest at the highest levels of US defence AI governance.
Binance is broadening its reach beyond cryptocurrencies by launching options trading on more than 1,000 US stocks and exchange-traded funds for eligible users outside the United States, the exchange announced.
Western Australia's economic regulator has launched an investigation into the pricing activities of the state's fleet of large-scale batteries, following episodes where coordinated charging appeared to drive up wholesale electricity prices. Economic Regulation Authority (ERA) chair Steve Edwell confirmed the agency was probing 'unusual behaviours' in the market, with a particular incident seeing spot prices spike from $120 to more than $350 per megawatt hour after midnight charging by batteries owned by state-controlled utility Synergy.
· 2 sourcesThe Federal Trade Commission and 22 states filed a lawsuit yesterday against Amazon, alleging the e-commerce giant orchestrated a secret seven-year scheme to overcharge advertisers by manipulating the ad auctions that set prices on its platform, generating an estimated $20 billion in illicit profits.
Microsoft is still working to fully restore access to Outlook and other Microsoft 365 services after a multi-day outage caused by a core authentication misconfiguration, with the company reporting gradual improvements but stopping short of declaring normal operations as of Tuesday.
France has begun imposing fees on ultra-fast fashion items, hitting e-commerce giants Shein, Temu, and AliExpress with levies of up to €12 per garment this year, rising to almost €20 by 2030, as part of a new law aimed at curbing the sale of cheap clothing and its environmental impact.
GoPro has been acquired by Starman Holding for $285 million in cash, in a deal that transforms the action camera maker into a company focused on defense, government, robotics, and aerospace. The acquisition follows controversy over YouTuber Markiplier becoming the single largest shareholder without disclosing his stake in a sponsored review.