Moody's changes the outlook of America's debt to negative, putting the US one step closer to losing its last perfect credit rating.   Fears of soaring prices and shortages as Australian Federal Police investigate a major cyber-attack against Australia's ports.   Optus, Telstra and other major telco boards required to sign off on a new or updated cyber risk management program every year or face hundreds of thousands of dollars in penalties. Singtel-owned Optus says routine software upgrade caused the massive 14-hour network outage. A network shouldn't implode so spectacularly because ..read more

Europe's PMI stats signal looming recession - darkest forecast since the financial meltdown & COVID slump. Unlucky 13. We have seen the 13th increase in official interest rates by the RBA since May last year. Cash rate now at 4.35% The number of Australian companies that collapsed in October soared 43%. ASIC sues TelstraSuper for failing more than 200 times to respond to customer complaints.  It’s the first time a retirement fund has been sued for this type of alleged misconduct. Sydney jewellery shop and its owner ordered to pay a record amount of general damages for sexual ..read more

The World Bank is warning that even a small disruption to crude supplies due to escalating Middle Eastern conflict could remove between 500,000 and 2 million barrels a day from global markets and reach $157 a barrel. A massive trade deal between Australia and the European Union appears all but doomed after "endgame" negotiations between the two sides collapsed before they even began. Deloitte report finds Australia’s insurance industry was underprepared for floods that lashed the east coast last year, with antiquated technology and a lack of skilled staff, tradies and materials turning the d ..read more

 Central banks are losing the fight against inflation. The 2 Year Treasury Bond, one of the benchmarks of whether Inflation is rising or declining, has hit a 16 year high with a Yield of 5.02%. Being rich is my superpower’ Tapes reveal cardboard mogul Anthony Pratt paying monthly retainers of $25K to Paul Keating and $8k to Tony Abbott while Prince Charles received $182,000 in 2021. Pratt also bought access to Trump. Uber’s surge plan to bring 10,000 electric vehicles into Australia. Barriers to women fully participating in the workforce are costing the Australian economy $128 billion ..read more

Australia's eSafety commission fines Elon Musk's X $610,500 for failing to meet anti-child-abuse standards.   A new cloud forms over global economy as Middle East conflict threatens recovery, warns IMF chief.   Cryptocurrency advocates are tipping the price of bitcoin to reach $US100,000 within the next five years.   By the time the Yes campaign kicked off its final, multimillion-dollar advertising blitz, it was too late – opponents of a Voice to parliament had been running consistent, targeted messages in key states for more than eight months.’   Big story that could rippl ..read more

Australian construction sector insolvencies have surged over the past three months as costs for everything from materials to insurance continue to blight the troubled $360bn industry.   ACCC report finds the average Australian family with two children under three is spending up to 16% of their household income on child care, ranking Australia 26th out of 32 countries in the OECD.   Coal power hits a new low in Australia when rooftop solar supplies 51% of total demand on the National Electricity Market     Australian colleges that target international students will be banned ..read more

Cyber criminals already using generative artificial intelligence to craft more persuasive scams ASIC warns that company directors could be in breach of their duties if their companies fail to adequately deal with cyberattacks   Research reveals that almost every person in NSW and Queensland was hit with a natural disaster in the past 12 months Qantas chairman Richard Goyder faces a fresh battle to keep his job after a leading industry group called for his dismissal over a board decision to engage Boston Consulting Grou   The average chief executive pay at some of Australia’s bigges ..read more

 World leaders agree a strategic effort to counterbalance Chinese influence   Prized Australian tourism and holiday destination Hamilton Island looks set to sell with its current owners understood to be discussing the move.   News Corp CEO Robert Thomson warns AI will create a "tsunami" of job losses at publishers.   Gina Rinehart has not ruled out launching a bid to rival Albemarle’s $6.6 billion takeover tilt at Liontown Resources after confirming she now holds a strategic stake close to 8% in the West Australian lithium prize.   CSL targets $33bn asthma market with ..read more

Qantas announces that Alan Joyce has stood down as CEO of Qantas early. For the first time, Qantas is ahead of schedule. Forrest empire exodus spreads with two more CEOs leaving, The Australian arm of Hilton Worldwide has gone to battle with the Australian Tax Office over allegations that it hasn't paid over $80 million in taxes, penalties and interest.   ASIC takes Westpac to court, alleging it failed to respond to hardship notices in time.   Warnings that hotter, drier days caused by the looming El Nino are forecast to wipe $12 billion off the value of agricultural production thi ..read more

Qantas CEO Alan Joyce has been grilled over the airline's contribution to the cost of living crisis during an inquiry conducted by the Senate.    The Morrison Government’s Modernising Business Register, designed to save business money, blew out by $2 billion.   460 company directors urge "yes" vote in Voice referendum calling constitutional recognition a critical step towards a more inclusive Australia.   Fortescue Mining boss Fiona Hick leaves as profits fall and dividends cut. Analysts say the lack of explanation of Hick’s departure and the attempt to spin Otranto’s appoi ..read more