While Adelaide showed just how good LIV Golf could be, the flawed premise of the breakaway tournament always spelled trouble.
Qantas customers are receiving court-ordered notices for a $105 million settlement over COVID-19 flight credits. Eligible customers may receive at least $50, with payments starting by year-end, pending court approval.
Richard White is stepping down as chair of WiseTech Global due to recent media attention, though he remains on the board. The company's shares rallied on the news, but remain significantly down over the past year due to personal scandals impacting the share price. Raelene Murphy has been appointed independent chair.
WiseTech Global's Richard White steps down as chair amid allegations, but remains executive director. Australia's economic growth forecast is grim, with rising interest rates and inflation. The ASX sees a surge in ETF listings, while a new steel mill is set to open.
Greensteel Australia plans to build a $500 million, zero-emissions steel mill on the former BHP steelworks site in Newcastle, aiming to produce 600,000 tonnes of steel annually by January 2028. The project aims to reduce reliance on imported steel and stabilize prices for Australian builders.
Microsoft is cutting 4,800 jobs globally, impacting its Australian workforce. The layoffs are partly driven by the need to show returns on AI investments and a restructuring of the Xbox division, which will see 3,200 job cuts.
Tourism operators in Western Australia's Kimberley region are doubtful that a new government voucher program will revive their slow season. High fuel prices and 'fear mongering' have deterred visitors, with some reporting a 70% drop in numbers. While the vouchers offer 50% off, some feel it's 'too little, too late' and doesn't address the cost of remote travel.
