Bite-sized business news from Australia and around the world
Kering has asked for the Valentino purchase offer to be pushed out to 2029.
Apple unveiled a bunch of its latest upgrades, including a new operating system called iOS 26.
ANZ is being slapped with a record $240 million fine for ‘unconscionable conduct’ from ASIC.
Adobe has announced its Q3 adjusted earnings of $5.99 billion in revenue, which was ahead of analyst forecasts.
The Federal Court has fined The Good Guys $13.5 million for misleading customers.
Nine Entertainment’s shares plummeted 36% in a single day.
Cashrewards has announced it will shut down immediately as ANZ, its owner, does a clean-up of its business.
The Federal Court has ruled that Coles and Woolworths wee found to be using the “set-off” approach for employee entitlements.
ANZ has announced 3,500 redundancies of ANZ staff by next September.
American Eagle’s sales have boomed and their share price surged by 25% following the ad controversy.
Macquarie landed nearly 40% of all new lending in the month of July, which means their mortgage book grew 6.4 times faster than the Big 4 banks.
Atlassian has announced plans to acquire The Browser Company for $936 million.
BYD has reported a 30% drop in net profit in the second quarter - down to 6.4 billion yuan (or $895 million USD).
ASIC is chasing up Mecca for being tardy and non-transparent with its use of company funds.
Rugby Australia has repaid its $63 million debt to Pacific Equity Partners - years ahead of schedule.
The ACCC is investigating three of ALDI's vegetable suppliers for alleged price fixing.
Thanks to its 40% revenue jump, Rokt is eyeing that US IPO once again.
Dollarama has announced plans for a full-scale transformation of The Reject Shop.
Lovisa is dialling up their global expansion after a major jewellery competitor ‘Claires’ filed for bankruptcy this August.
Open AI announced plans to open a local operation in Sydney.
Domino's share price has dropped to around $15, and it doesn’t look like it’s going to get better any time soon.
Lego reported 12% growth in revenue for the first half of 2025 to nearly $5.4 billion USD.
Qantas announced an underlying profit before tax rose 15% to $2.39 billion over the last financial year.
Woolworths has warned that its underlying profits fell 17% to $1.38 billion for the last financial year.
The Labor government has brought First Home Buyer Guarantee scheme forward to October this year.
Reece CEO Peter Wilson has warned that Reece’s earnings before interest and tax (EBIT) fell 20% in the last financial year.
Coles Group’s sales as it lifted 1.7% to $44.5 billion — thanks to its home brands.
Inghams warned of a revenue fall of 1.5% for FY25, while its net profit was down 10%.
Fonterra has sold off its Mainland Group consumer brands to the French dairy behemoth Lactalis for $3.8 billion NZD.
Investors have got the chilli sweats after GYG revealed that sales in the first seven weeks of FY26 grew just 3.7%.
Breville has just announced that their FY25 revenue jumped 10.9% in FY25 to $1.7 billion.
James Hardie’s revenue of $900 million USD fell well short of the $953 million USD expected for FY25.
Universal’s total sales jumped 15.5% to $333 million for the last financial year.
Soho House is going private again to arrest the declining share price.
CSL is making some big cuts across the company including a demerging, job cuts and other expense reductions.
Federal Court judge has hit Qantas with a record $90 million penalty, the biggest penalty ever under the Fair Work Act.
Gildan agreed to buy the US apparel brand, Hanesbrands, in a $2.2 billion USD cash and stock deal.
Ampol has announced plans to acquire EG Group’s 500-strong Australian service station portfolio for $1.1 billion.
Temple & Webster's revenue rose 21% to $601 million for the year to June 30.
Perplexity has lobbed a $34.5 billion USD bid for one of Google’s most valuable products, Google Chrome.
Westpac’s share price jumped 6% but its home loans were on a decline at 3%.
Telstra’s investors reported a $2.34 billion annual net profit.
In the latest financial year, JB announced some BIG results - their group sales were up by 10%, and their overall net profit increased by 5.4%.
NBN Co has announced that it has cut its annual loss by 10% in the last financial year to $963m.
This month, the RBA has cut the cash rate by 0.25%, which means the cash rate is now sitting at 3.60%.
Spotify will pull the price lever to recover some of those losses and announced plans to raise subscription prices across various locations globally.
McDonald's reported its quarterly revenue hit $6.84 billion USD, which beat analyst expectations of $6.70 billion USD.
News Corp's saw its full-year revenue jump 2% and its EBITDA jumped 14%.
Duolingo has reported revenue of more than $252 million USD for the quarter.
ASX mistakenly announced that TPG Telecom was buying an Australian software provider called Infomedia for over $500 million — instead of TPG Capitol Asia.
REA’s net profit jumped 23% to $564 million and they increased their full-year dividend by 31%.
Reddit has announced a boom in its quarterly update worth $500 million in revenue.
TPG is returning up to $3 billion to existing shareholders after selling off a big slice of its infrastructure biz.
Australia’s aviation scene might be getting a new furry competitor.
Novo Nordisk cut its full-year sales and profit forecasts for the second time this year.
By the end of Day 1 of their initial IPO listing, Figma's shares closed at $115 USD per share... or more than 250% higher than its listing price.
ResMed has released some smashing results for FY25 with its net profit jumping 37% to $1.4 billion USD.
Meta has announced revenue of $47.5 billion USD for its last quarter - up 22% year-on-year.
Harley-Davidson reported a 35.5% year-on-year revenue decline.
Flight Centre has warned that its net profit for FY25 will be more than 27% less than their original profit forecast.
A US federal judge has ruled that the group of authors can sue Anthropic as a class action for allegedly violating copyright laws.
After conducting investigation, ASIC found three banks' unreasonable bank fees charged to vulnerable Aussies.
The Federal Court has hit Webjet with a $9 million fine.
LVMH just warned that its first quarter earnings fell 22% mostly due to declining sales of their wine and spirits.
The $8 billion USD merger between Paramount Global and Skydance has been approved by the US Federal Communications Commission.
Bapcor has warned of multiple hits all at once, dropping their share price to 30%.
Tesla’s revenue takes its biggest hit in a decade as shrinking carbon credits push Elon to bet everything on robotaxis.
YouTube isn’t just beating old-school TV, it’s becoming the new king of the living room with ad revenue and viewership to match.
Fortescue breaks iron ore records but hits a wall with hydrogen, as shifting US policies and high costs stall its green energy ambitions.
Trump has signed the first major crypto legislation in US history, called the GENIUS Act.
Qantas was accused of using ChatGPT 4 for its apology letter about the massive data breach.
Employment Hero is going one step further by dragging Seek to court for cutting the access to its API.
Lovable just raised a whopping $200 million USD at a $1.8 billion valuation USD.
Netflix just announced its revenue for the most recent quarter reached over $11 billion USD - a casual 16% jump in revenue.
The Finance Sector Union (FSU) launched legal action against CBA in the Fair Work Commission, alleging that CBA breached its Enterprise Agreement.
Pop Mart has said its profits are expected to jump by 350% in the first half of this year thanks to its international expansion.
AI startup Thinking Machines Lab, has just announced a $2 billion USD capital raise at a $12 billion valuation USD.
Emirates has announced plans to launch a new courier express network into Australia.
xAI is planning to raise $5 billion USD and early half the money is reportedly coming from SpaceX.
After a decade as a committed family unit, Kraft Heinz is reportedly planning to split its business in two.
The RBA is recommending 3 key changes to Australia’s payment system, particularly on credit and debit cards.
Lululemon filed a lawsuit accusing Costco of copying the designs of its jackets, hoodies and pants.
Meta has acquired a stake worth roughly €3 billion in Ray-Ban’s maker, Essilor Luxotica.
Mercury Capital is looking to offload Are Media to a new buyer.
MYOB has just announced plans to compete with the big banks by launching a bank account with Great Southern Bank’s banking licence.
US President Donald Trump has threatened to slap 200% tariffs on imported pharmaceuticals.
Telstra has warned that it will need to cut another 500 jobs as part of its new strategy, “Connected Future 30”.
Aldi has announced a new partnership with Doordash that will allow customers to purchase Aldi products online.
After two years since its launch, Uber’s advertising business in Australia grew by 55% to $150 million.
In a surprising move, the Reserve Bank of Australia PAUSED the cash rate at 3.85%.
Cettire’s share price has plunged 85% in 2024 as revenue stalls, users drop, and deep discounting fails to revive its once-billion-dollar fashion empire.
Cochlear’s profit growth has stalled due to margin pressure in emerging markets, but a high-tech new implant could turn things around in FY26.
Jetstar Asia is shutting down after 20 years and only six profitable ones, as rising costs and fierce local competition make the business unsustainable.
Warner Bros Discovery has now announced it’s splitting into two separate publicly listed companies.
Apple promised some big big improvements to the AI in iPhones but despite the big build-up, Apple’s AI-powered Siri still isn’t ready.
All buy now pay later providers in Australia will need to start collecting income and expense info on applications — and that includes Afterpay.
Musk is launching a $300 million secondary share sale for xAI which means xAI employees can cash out by selling their shares to fresh investors.
ASIC is now suing RAMS for systemic misconduct between 2019 and 2023.
