BUSINESS

Australia opened the world's first commercial quantum diamond foundry in Melbourne with $31 million in government funding. Quantum Brilliance's facility produces lab-grown diamonds for room-temperature quantum computers, creating new opportunities for specialized manufacturing and technology insurance.

Australian photo-sharing app Tinybeans (ASX: TNY) acquired US rival Qeepsake for $4.1 million in an all-stock deal, nearly doubling its subscriber base to 90,000. The acquisition costs just $67 per subscriber — far below organic acquisition costs — and boosts revenue 85%.

Australian home prices surged 1.1% in October 2025, the fastest monthly gain in over two years, adding $10,000 to median dwelling values. CoreLogic data shows Perth led with 1.9% growth while every capital city recorded gains. Annual growth hit 6.1% as rate cuts fuel property boom.

ASX 200 slipped 0.04% on Friday to close at 8,881.90, capping a volatile October that saw the index erase two months of gains. Hot CPI data killed rate cut hopes while Domino's Pizza surged 36% on takeover speculation and CSL crashed 15% on a revenue warning.

Israel-based Talma Travel Solutions acquired Sydney's Bay Travel Group for $10 million, marking its entry into Australia. The deal continues Talma's aggressive global expansion strategy with plans for more Asia-Pacific acquisitions in 2026.

Australia's digital asset sector enters a defining regulatory phase as Treasury's draft legislation mandates Australian Financial Services Licence requirements for cryptocurrency platforms.

Charter Hall Retail REIT (ASX: CQR) has purchased four standalone Bunnings outlets across New South Wales and Queensland for A$151 million, expanding its net-lease hardware exposure and lifting its FY26 earnings guidance.

Chip-maker Nvidia has become the first company in history to surpass a $5 trillion market value, driven by soaring artificial-intelligence chip demand, strategic partnerships and a strong keynote at its GTC event — but experts warn of a possible tech bubble.

Wesfarmers discloses that its retail staff faced more than 13,500 threats and about 1,000 assaults in the past year, prompting plans for enhanced safety measures across its stores.

Melbourne's upcoming event trio—Oasis, Melbourne Cup Carnival and Metallica—could generate around A$110 million in economic activity, offering a major boost to local hospitality, accommodation and retail sectors.

Sweden's EQT proposes A$45 per share cash bid for Australia's AUB Group, valuing the insurance broker at A$5.25 billion amid global consolidation in the broking industry.

WiseTech Global headquarters raided by Australian Federal Police and ASIC investigating chairman Richard White's alleged share trading violations. Stock plunges 17% as investigation unfolds.

Anthropic has signed a multi–billion dollar deal to expand its use of Google Cloud and buy up to one million Tensor Processing Units (TPUs). The move will add over a gigawatt of AI computing power by 2026 to meet surging demand for its Claude models, as the startup intensifies its race with OpenAI, Amazon, and Microsoft.

China announced plans to massively expand its high-tech industries over the next decade, focusing on quantum computing, hydrogen and fusion energy, and brain-computer interfaces. Officials say the initiative will reshape the country's technological landscape and strengthen its global leadership.

Disneyland Paris has canceled its planned pop-up store and holiday window displays at BHV Marais amid protests over Shein's arrival at the historic Parisian department store. Trade unions and other brands have criticized Shein's expansion, leading to disruptions in seasonal events.

A new report reveals US oil and gas giants pay billions more in taxes overseas than at home, despite producing most of their fuel domestically. Tax loopholes and subsidies under Trump-era policies fuel this disparity.

UN Secretary-General Antonio Guterres warned that global debt has soared, leaving developing countries paying more on interest than on health or education. He launched the Sevilla Forum on Debt to improve financing, strengthen investment, and align trade policies with climate goals.