Bite-sized business news from Australia and around the world
Apple CEO Tim Cook steps down after 14 years, with long-time exec John Ternus taking over in a stable, carefully planned transition.
Mecca hits $1.43B revenue as immersive in-store experiences drive growth, doubling rival Myer and redefining beauty retail.
NAB lifts bad debt provisions to $706M and adds a buffer as rising costs and falling confidence pressure business borrowers.
Amazon buys Globalstar for $11.6B to boost satellite internet and bet big on phone-to-satellite connectivity by 2028.
Gucci sales slump pushes Kering into AI eyewear with Google, betting on tech to win back younger, trend-shifting consumers.
Zip Co rebounds with upgraded earnings and strong US growth, proving profitable expansion is back in focus for BNPL players.
Allbirds plunges from $4B to $39M, then pivots to AI — sending shares soaring 600% in a hype-fuelled rebound.
Uber is investing $10B into robotaxis, shifting from asset-light to asset-heavy to compete in the autonomous vehicle race.
Qantas and Virgin cut flights and raise fares as soaring fuel costs squeeze margins and make low-demand routes unprofitable.
Coachella drives $600M+ locally while evolving into a content and marketing machine for brands, creators, and influencers.
IKEA cuts its 365-day returns to 60 days as rising costs and customer behaviour turn generous policies into a margin problem.
MCoBeauty’s dupe strategy faces a legal test as Sol de Janeiro sues, claiming copycat products are cashing in on its brand.
Anthropic withholds its powerful Mythos AI model from the public, giving select giants access to stay ahead in the cybersecurity arms race.
Uniqlo lifts profit outlook after a 30% earnings jump, with global growth and a weaker yen quietly boosting performance.
SPC canned goods sales jump 20% as shoppers stockpile ahead of price hikes driven by oil shocks and supply chain disruptions.
Levi’s beats tariffs with 14% growth, boosted by Gen Z demand and a surprise pop culture moment driving 517 jeans sales.
AustralianSuper cuts $1B from its ESG fund as stricter rules bite and “ethical investing” faces growing scrutiny.
Canva snaps up two more startups, taking its AI buying spree to eight deals as it reshapes its story ahead of a potential IPO.
OpenAI, Google and Anthropic join forces to combat AI model copying, as distillation concerns spark both commercial and security fears.
SafetyCulture acquires AI startup Twine as it ramps up dealmaking to stay competitive in a rapidly evolving AI landscape.
NextDC locks in a $1B 100-year bond to fund AI-driven expansion, as investors back long-term bets on data centre demand.
Shein offers Aussie brands its supply chain as a service, trading speed and scale for potential risks to quality and control.
Canva posts a $242M loss despite strong growth, as $350M in share-based pay boosts cash flow but drags down accounting profit.
Telstra must cut 1M sq km from its coverage claims after new signal standards, reshaping its biggest competitive edge.
David Jones extends supplier payments to 60 days to boost cash flow, highlighting the power and risks of working capital management.
Blackstone buys IPL’s Royal Challengers for $1.8B, highlighting how cricket teams have become lucrative, asset-like investments.
Xero teams up with Anthropic to embed AI into its platform, but investors remain unconvinced it’s enough to counter AI disruption fears.
Pop Mart’s profits are booming, but a 20% share drop shows investors fear its viral toy success may not last.
Apple is adding ads to Maps, taking on Google in search ads and tapping into high-value, intent-driven advertising.
Qantas profits could nearly halve as rising fuel costs bite, with hedging offering only short-term protection.
Cuttable hits $100M valuation with just 8 engineers, using AI to build and scale its ad-testing platform faster than traditional teams.
Halter’s AI-powered cow collars attract a $2B valuation as it turns livestock into a subscription model in booming precision agriculture.
Domain caps price hikes at 4% to undercut REA and win back agents, sacrificing short-term profits to rebuild market share.
Flight Centre buys a creative agency to move beyond flights and become a one-stop shop for corporate travel and events.
Lamborghini scraps EV plans after customer backlash, doubling down on loud engines over silent electric performance.
Premier’s profit looks flat, but Smiggle is struggling while Peter Alexander thrives as consumer spending habits split.
Meta pulls Horizon Worlds from Quest after weak adoption, signalling its metaverse vision is falling short of expectations.
ACCC probes diesel giants as oil prices surge, raising concerns that limited competition is pushing fuel costs even higher.
Peloton pushes into gyms with commercial gear to revive growth, expanding beyond homes as consumer demand slows.
Google adds “Ask Maps” AI to turn navigation into a chatbot, as it fights Apple Maps by upgrading its most-used product.
The RBA lifts rates to 4.1% as oil-driven inflation rises, showing how global shocks are hitting Aussie households and mortgages.
Bumble’s stock jumped 30% despite falling users and revenue, as cost cuts and higher revenue per user boosted profitability.
McDonald’s CEO went viral tasting a new burger, and by leaning into the meme, the chain scored 5.8B impressions and boosted sales.
Qantas will pay $105M to settle a class action over COVID flight credits after passengers waited up to three years for refunds.
Better Beer is raising up to $15M to expand its fast-growing low-carb beer brand, proving influencers can turn social media followings into real businesses.
AustralianSuper wants super funds to borrow money for the first time in 30+ years, arguing it could prevent forced asset sales in market downturns.
Atlassian is cutting 10% of its workforce as AI reshapes software and investors worry the so-called “SaaSpocalypse” could disrupt SaaS business models.
Robinhood launches a fund giving retail investors access to private startups like Stripe, but demand falls short and shares drop on debut.
Koala plans an ASX IPO at a $305M valuation, well below earlier hopes, showing how weaker investor sentiment can reshape listing ambitions.
The Iconic posts its first profit after 14 years of losses, thanks largely to a marketplace model that cuts inventory risk and boosts commission revenue.
Australia’s biggest airports earned $402M from parking in 2025, highlighting the lucrative power of airport monopolies.
Audible launches a cheaper streaming-style audiobook plan as Spotify expands into audiobooks with its bundled Premium offering.
ARN Media shares jumped after Jackie Henderson quit The Kyle and Jackie O Show, raising hopes the company could reset its costly talent deal.
OpenAI raises $110B at a $730B valuation as Amazon, Nvidia and SoftBank fund the AI boom—while also supplying its infrastructure.
Lyka raises $67M after hitting $200M ARR, expanding its premium fresh dog food business as pet owners spend more on human-grade meals.
News Corp cuts costs, sells Foxtel and signs a $250M deal with OpenAI to reposition its media archives as vital data inputs for the AI economy.
ASIC alleges Budget Direct removed discounts after minor policy changes, impacting 39,000 customers and triggering $3.3m in repayments.
Woolworths’ chatbot Olive glitched with odd replies, but the retailer is doubling down on AI with a major Google upgrade.
CBA flagged $1B in AI-linked home loan fraud via brokers, exposing oversight risks despite loans still being repaid.
WiseTech will cut 2,000 jobs in an AI overhaul, betting automation can reset costs despite a 36% profit slump.
Sigma lifted earnings 18.7% after its Chemist Warehouse merger, as strong domestic sales fund patient global expansion.
Qantas lifted profit to $1.46b as Loyalty jumped 12%, while tweaking Frequent Flyer rules to strengthen customer retention.
After the Supreme Court struck down his tariffs, Trump proposed a blanket 15% rate — erasing Australia’s trade edge.
Adore Beauty’s sales rose 8.7%, but heavy Black Friday discounting sent profit down 70%, as it pushes into physical stores.
Southern Cross Media’s first result post-Seven merger saw profit fall 16.5%, as weak ads and a sudden CEO exit rattled investors.
eBay buys Depop for $1.2b, boosting shares 7% and accelerating its push into Gen Z and sustainable fashion.
GyG’s US losses and store cap rattle investors, sending shares below IPO levels as short sellers ramp up bets.
Eucalyptus sells for $1.6b to Hims & Hers, fast-tracking its global push in regulated digital healthcare.
Telstra profit climbs 8% to $1.2b as job cuts trim costs and higher mobile prices stick without losing customers.
Zip shares plunge 33% after results miss forecasts and bad debts rise, despite strong year-on-year growth.
Wesfarmers lifts profit 9% to $1.6b as Bunnings and lithium offset a sharp 21% earnings drop at Officeworks.
Sushi Sushi sells for $160m to Japan’s Genki, shifting from private equity ownership to global expansion mode.
SEEK plans to sell its remaining Employment Hero stake, closing a nine year investment after a courtroom clash.
Coles faces court after the ACCC alleged it inflated prices before promoting “discounts” that weren’t real savings.
Kraft Heinz has shelved its breakup plan and will spend $600m to revive struggling grocery brands before reconsidering a split.
Breville’s revenue jumped to $1.1b on strong coffee sales, but US tariffs capped profit growth and forced a supply chain rethink.
Barbeques Galore has entered receivership after liquidity struggles, as years of ownership changes failed to restore profitability.
Hasbro and Mattel both flagged softer toy growth, but Hasbro’s booming digital games arm sent its shares up while Mattel sank.
Temple & Webster’s profit slid 36% as heavy discounting hit margins, but management is doubling down to win long-term market share.
ANZ’s new CEO slashes jobs and costs, lifting profit 6% to $1.94b as investors cheer the bank’s aggressive clean-up strategy.
PEP looks to exit The Man Shake as GLP-1 weight-loss drugs reshape the market and dent demand for meal replacements.
Stellantis takes a US$26b EV write-down after overestimating the energy transition, sending shares down 30%.
Seek has slashed $365m off Zhaopin’s value, with repeated write-downs exposing deeper cracks in China’s sluggish jobs market.
After a sharp fall in government consulting revenue, KPMG is cutting costs by offshoring hundreds of roles to the Philippines.
Atlassian posted strong revenue growth, but AI fears sent shares lower, leaving employees with equity that’s deep out of the money.
The government is reviewing the CGT discount, spooking investors and reigniting debate over tax reform versus housing affordability.
Anthropic’s new legal AI tool spooked investors, wiping billions off legal publishers as AI threatens traditional research models.
LIV Golf has burned billions backing its PGA disruption, with profitability still years away despite selling team stakes.
AustralianSuper records its first net outflows as easier switching and weaker performance push members to shop around.
Franchise-heavy films are underperforming, raising fears the US box office may miss its US$10bn target as audiences grow pickier.
Ahead of a potential IPO, SpaceX is absorbing xAI and X, unifying Elon Musk’s AI, data and space ambitions under one roof.
The RBA lifted rates to 3.85% after inflation spiked, as rising household spending continues to defy cost-of-living pressure.
Paramount+ plans a TikTok-style short-form feed to boost daily engagement as streaming platforms blur with social apps.
Australian music now makes up under 10% of streams as algorithm-driven platforms favour global artists over local acts.
Nine is selling radio and regional TV while buying QMS Media, reshaping its portfolio toward faster-growing ad formats.
Tesla’s revenue fell for the first time, but investors are backing its pivot toward AI, robots and autonomous vehicles over car sales.
Meta posted record earnings and is doubling down on AI, committing over $100bn a year to stay competitive in the race for superintelligence.
