AUSTRALIAN COMPANY
New Zealand to press ahead with media content pay law
New Zealand's government is pushing for a bill to make digital platforms pay media companies for news. The legislation, aligned with Australia's law, could affect companies like Meta Platforms and Alphabet Inc. The bill's authority will be supervised by an independent regulator, supported by the Labour party but facing opposition from the ACT New Zealand party.
Pint-sized IPOs become lottery ticket as small investors make up to 1,500% return
The frenzy around SME IPOs driven by retail investors seeking high returns raises concerns about an overheated market and potential bubbles. Despite the success stories, caution is advised as valuations may not offer sufficient margin of safety in the current environment.
Wipro merges two North American subsidiaries, liquidates Australian unit
Wipro merged its subsidiaries Designit North America and Wipro Designit Services, effective July 1st. In a separate move, they deregistered another step-down subsidiary Attune Australia Pty Ltd on June 26.
SSLV's first dedicated commercial launch to put Australia-built satellite into orbit in 2026
NSIL and Space Machines Company have announced that their newest rocket, the SSLV, will launch its first dedicated commercial launch with the Optimus satellite. The launch will set the stage for Space Machines Company's second Optimus spacecraft, the largest Australian-designed and built spacecraft to date. The mission, named Space MAITRI, will mark a significant milestone in the strategic partnership between Australia and India in the space domain, fostering closer ties between commercial, institutional, and government space organizations.
Counterstrike! China eyes trade war targets across Europe
Trade war: China is preparing to retaliate against the European Union over proposed tariffs on electric cars. Targeted products include brandy from France, pork from Spain, wine primarily from France, and cars from Germany. The potential trade barriers aim to comply with WTO rules but could impact European exporters significantly.
Meta must face Australian billionaire Forrest's US lawsuit over scam Facebook crypto ads
In a decision on Monday, US District Judge Casey Pitts in San Jose, California said Australia's second-richest person can try to prove that Meta's negligence in allowing the ads breached its duty to operate in a commercially reasonable manner.
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Australian museum displays world's rarest and infamous album, everything we know
A popular Australian museum has showcased a hand-carved silver box that contains probably the rarest and the most valuable album in the world ever seen. Recorded in secret for as long as six years, only a single copy of this album exists and very few have heard it.
Elon Musk's X demands repayment from former Australian employees over pay error
Elon Musk's X admitted to a currency conversion error when paying out entitlements, which sometimes resulted in overpayments of up to $70,000. Earlier last year, thousands of former Twitter employees claimed they were cheated out of severance pay when the billionaire laid them off after acquiring the social media platform.
Adani’s Aussie coal port gets A$500 million private credit loan
Adani Group's Australian coal port unit has secured A$500 million private credit loan from Farallon and King Street Capital Management. Banks' reluctance due to ESG concerns prompts coal companies in Australia, like Whitehaven Coal Ltd., to seek private financing.
Australian watchdog drops court fight with X over violent posts
Australia's online watchdog on Wednesday dropped a legal effort to force Elon Musk's X to remove posts depicting the violent stabbing of a Sydney priest. The watchdog had ordered Musk's company to globally remove about 65 video and audio clips of the April 15 non-fatal attack in a church.
Australia moves to rein in buy-now-pay-later with credit check law
BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over weeks or months and are largely used by cash-strapped people taking on debt, sometimes more than they can afford.
Verdict Day: D-Street investors lose Rs 46 lakh crore as Sensex, Nifty in freefall
Stock Market Crash Today: From the Sensex pack, Reliance Industries and HDFC Bank alone contributed to a 565-point decline in the index, while L&T, SBI, ITC, NTPC, and Power Grid were among other stocks dragging the index lower. Volatility gauge India VIX also spiked 20% to 25 levels. PSU, defence stocks were also trading with deep cuts.
Brett Lee granted tax relief by ITAT due to invalid notice service
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) provided relief to former Australian cricketer Brett Lee in a tax case, ruling that the notice served to him under the Income Tax Act was beyond the limitation period. The case involved a ₹3 crore endorsement fee received by Lee for the assessment year 2013-14 from three Indian entities. The tribunal found that the notice, sent a day before the deadline and to the wrong email address, was invalid. As a result, the assessment order was quashed.
Social media bans distract from real issue
Governments in Australia are considering social media bans for children under 14 or 16, supported by Prime Minister Anthony Albanese. They plan to trial age verification technology with a $6.5 million commitment. However, bans may hinder open discussions about children's online activities with trusted adults, diverting attention from improving digital experiences for children.
Investors high on SME IPOs with up to 1,300% returns. Is it time to get sober?
Investors high on SME IPOs with up to 1,300% returns. Marquee investors, top performers like Owais Metal & Mineral Processing, and risks of market manipulation highlighted. Emphasis on due diligence and investor awareness.
OpenAI inks multi-year deal to start using news content from News Corp
As part of the deal, OpenAI will have access to both fresh and archived material from News Corp's major news publications, including The Wall Street Journal, Barron's and New York Post, Australian publications such as The Daily Telegraph, and others. The companies would not talk about the length or value of the deal, although News Corp's Wall Street Journal said it could be worth more than $250 million over five years.
21 international organisations write to CJI for speedy resolution of Adani coal imports case in SC
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
Australian researchers turn morning coffee waste into greener concrete
Concrete production involves mixing sand and gravel with cement and water. It is a major producer of greenhouse gases, responsible for around 7% of the world's emissions, according to the United Nations.
Can't direct CBI to register FIR: Special Court to MMTC on coal import scam
A special court has rejected a request from the Metals and Minerals Trading Corporation of India (MMTC) for the Central Bureau of Investigation (CBI) to file an FIR regarding purported corruption linked to the import of coal from an Australian company at exaggerated prices in 2009, according to officials on Thursday.
Elon Musk targets Australian senator, gun laws in deepening dispute over X stabbing content
Elon Musk clashes with Australian senator, criticizes government over video censorship, facing backlash. Musk expands criticism to Brazil, defends alleged terrorist content, and battles regulatory orders alongside X platform.
Telecom major Singtel confirms no intention to divest Australian telco Optus
Singtel, majority-owned by Singapore sovereign investor Temasek, in March denied an AFR report that it was offloading Optus to Canada's Brookfield for up to $12 billion.
Australian regulator demands social media firms disclose anti-terrorism efforts
Australian regulator pressures social media platforms to combat terrorism content, hate speech, and handle fines, challenging platforms like Elon Musk's X over e-Safety violation.
Uber pays $178 million to end legal fight with Australian taxi drivers
A class action against Uber had been expected to go to trial in the Supreme Court of Victoria on Monday, but Maurice Blackburn Lawyers - representing 8,000 taxi and hire car drivers - said the case will be dropped because Uber agreed to the financial settlement.
Australian media hits back as Facebook scraps news deals
The head of one of Australia's largest media groups said on Monday that the country should stand up to tech giants, days after Facebook parent Meta announced it would no longer pay outlets for news. "Australia must not surrender its leadership in being a country that is prepared to stand up to tech giants," he said in comments to one of the company's newspapers.
Australian spies blame Russian for major cyberattack
Australia has identified the Russian mastermind behind a crippling cyber attack, unmasking the 33-year-old hacker for the first time on Tuesday and linking him to an international crime syndicate. - 'Hack the hackers' - Australia beefed up its cyber security laws in the wake of the Medibank attack, pledging that the country's intelligence agencies would proactively "hack the hackers".
Australian Premium Solar shares debut with 159% premium over issue price
Australian Premium Solar, a manufacturer of Monocrystalline and Polycrystalline solar panels, debuted with a 159.3% premium on the NSE SME platform. The IPO garnered subscription of over 450 times, with the retail investors category subscribed 530 times and the NII portion booked 770 times. The QIB part of the IPO was booked 107 times. The net proceeds will be used for capital expenditure, working capital, and general corporate purposes.
Australian Premium Solar, New Swan Multitech IPOs cross 300x subscription on last day
The issue of Australian Premium was subscribed 380 times so far on the third day of the bidding process, driven by robust demand from NII and retail investors.
Australian Premium Solar IPO booked 39 times so far on Day 2; New Swan's issue subscribed 37 times
The SME IPO of Australian Premium Solar India was subscribed 39 times so far on the second day of the bidding process. The issue closes on January 15.
Australian Premium Solar IPO booked 11 times within hours of opening on Day 1. Check GMP, price band and other details
Australian Premium Solar IPO is entirely a fresh equity issue of up to 52 lakh equity shares, aggregating to Rs 28.08 crore and the company is offering its shares at Rs 51-54 apiece, investors can bid for 2,000 shares in a single lot. The IPO proceeds will be used for funding capital expenditure, working capital requirements, and general corporate purposes.
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