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Business news from Australia and around the world: companies, deals, earnings, regulation and the people running them.

1818 articles · page 9 of 38

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American Airlines forecasts deeper loss in 2026, plans to slow growth amid fuel spike

American Airlines has forecast a larger full-year loss for 2026 than previously expected, blaming a sharp spike in jet fuel costs linked to the Iran war, and said it will slow capacity growth next year. The Fort Worth-based carrier now expects to lose between $1 and $1.60 per share on an adjusted basis for the full year, a significant downgrade from its July forecast of up to 65 cents per share profit to a 65-cent loss.

· 3 sources
Business

Meta issues non-voting stock to keep Zuckerberg in California as billionaire tax vote looms

Meta has created a new class of non-voting stock that will allow Mark Zuckerberg to sell shares without losing control of the company, after the CEO threatened to leave California over a proposed billionaire wealth tax that residents will vote on November 3. Zuckerberg has committed to remaining in the state for eight years under the deal, which also gives Meta a new way to raise capital for AI investments.

· 13 sources
Business

Queen Victoria Market CEO and chair resign after governance review

Queen Victoria Market traders say they have no confidence in management more than 18 months after a historic strike, amid an executive exodus at the operator of the Melbourne icon. An interim governance review by KordaMentha, considered by the City of Melbourne at its September 29 meeting, found “low trust and insecurity” among traders, with “disrespect” and “lack of understanding” recurring phrases in consultations.

· 3 sources
Business

French borrowing costs surpass US for first time since 2013 amid budget crisis and protests

France's 10-year borrowing costs have risen above those of the United States for the first time in more than a decade, as investor confidence erodes over the government's failure to pass a federal budget and widespread protests that turned violent over the weekend. The yield on French bonds rose to 5.089% on Thursday, its highest level since July 2022, crossing the 5% threshold for the first time since 2002.

· 3 sources
Business

NextDC shares crash 40% as community concerns and rising costs shake AI data centre faith

Shares in Australian data centre builder NextDC collapsed by 40 percent on Wednesday after the company warned that delays at its flagship Melbourne site would cause it to miss revenue forecasts, a development that has deepened investor anxiety about the viability of the AI infrastructure boom. The delays stem from local community opposition to 22-metre power poles that are crucial to the facility's operation, with electricity distributor Jemena pausing construction after councils raised concerns about the impact on residential neighbourhoods.

· 2 sources
Business

NAB staff accuse bank of 'spill and fill' as 2,500 jobs cut, roles shifted offshore

National Australia Bank (NAB) has announced plans to slash 2,500 roles, about 6 per cent of its workforce, as part of a restructuring that staff say involves a 'spill and fill' strategy where entire teams must reapply for their jobs. Workers have voiced deep concerns over offshoring and the growing role of AI in replacing roles, with the Finance Sector Union condemning the move as a 'wrecking ball' so close to Christmas.

· 2 sources
Business

One in 10 UK graduates plan to move abroad as job competition hits 30-year high

More than one in 10 UK university students now plan to move abroad after graduating, up from 7.8% two years ago, as competition for graduate jobs hits a three-decade high, according to a survey of 15,000 final year students and a study by the Institute of Student Employers (ISE). The ISE found UK employers now receive an average of 140 applications per graduate vacancy, a 14% increase from 2025 and up from just 30 applications per vacancy 20 years ago. Personal stories from recent graduates who have already moved to Australia, the United States and Finland reveal the pull of better pay, quality of life and career prospects.

· 4 sources
Business

Meta confirms non-voting stock plan, posts strong Q3 earnings as AI bet accelerates

Meta confirmed during its third-quarter earnings call on Wednesday that it will create a new class of non-voting stock, a move designed to fund its artificial intelligence push while preserving founder Mark Zuckerberg’s controlling stake. The company also reported quarterly revenue of $64 billion, up 26% year-over-year, beating Wall Street expectations, as costs rose 68% amid heavy AI infrastructure spending.

· 5 sources
Business

Anthropic S-1 Leak Reveals $80 Billion Loss as AI Company Targets $2 Trillion IPO

A leaked draft of Anthropic's S-1 filing, obtained by The Wall Street Journal and reported by Fortune, provides an unusually detailed look at the company's finances as it prepares for a public offering valuing the firm at $2 trillion. The documents reveal steep revenue growth alongside a substantial increase in losses, raising questions about the sustainability of the AI industry's massive infrastructure spending.

Business

Judge rejects Trump bid to let EPA dismiss data center pollution lawsuit against SpaceXAI

A federal judge has rejected Donald Trump's attempt to intervene in a Clean Air Act lawsuit against SpaceXAI, ruling that the Environmental Protection Agency does not have the power to unilaterally dismiss such suits on the president's say-so. The decision allows the NAACP's lawsuit against the Elon Musk-owned company to move forward over unpermitted gas turbines powering its Colossus data center in Memphis, Tennessee.

Business

Meta shares jump 5% as AI-fueled revenue hits $64.6B, but $25B New Mexico penalty and negative free cash flow cloud results

Meta Platforms reported a 26% rise in third-quarter revenue to $64.6 billion on Wednesday, beating analyst expectations and sending shares up about 5% in after-hours trading, but the results were marred by a $25 billion legal penalty in New Mexico for data privacy violations, negative free cash flow for the first time since 2012, and the creation of a new class of nonvoting stock aimed at funding AI investments while insulating CEO Mark Zuckerberg from dilution.

· 6 sources
Business

Vodafone accuses Aussie Broadband over 24 million scam calls

Vodafone's parent company TPG Telecom has publicly accused rival Aussie Broadband of failing to stop millions of scam calls, saying 98 per cent of the scam calls detected on its network between July 2025 and July 2026, more than 24 million, came via Symbio, a little-known wholesale carrier owned by Aussie Broadband. TPG's executive Vanessa Hicks called for urgent action to block calls closer to the source, while Aussie Broadband CEO Brian Maher said the company was working to address the problem but needed more data from other telcos.

· 2 sources