BUSINESS

In 2023, the eSafety Commissioner had issued the AU$610,500 fine for failing to effectively respond to questions regarding harmful content involving children on its platform.

"It has become clear that the hydrogen market is developing more slowly than anticipated, and there remain risks and both input cost and technology advancements to overcome," Origin chief executive Frank Calabria said.

Law firm Maurice Blackburn brought triple class action claims against ANZ, Westpac, St George Finance, and Macquarie Leasing over alleged exploitation of flex commission arrangements, which were banned in 2018.

US private sector hiring picked up in September, with employers adding more jobs than anticipated, according to data released Wednesday by payroll firm ADP. ADP data showed private sector employment rose by 143,000 jobs, significantly higher than the 120,000 figure that a consensus by Briefing.com expected.

OpenAI did not name the investors, but reports said that the funding round was led by New York-based venture capital firm Thrive Capital, including the company's biggest backer Microsoft and new participants, chipmaker Nvidia and SoftBank, among others.

Now, Tesla's Model 3 Long Range Rear-Wheel Drive is the most affordable, with a price of $42,490.

Toyota will be delaying the production of its EVs in the U.S. amid design issues and slow EV sales.

The IMF noted in its statement that the Australian economy will likely experience a moderate slowdown in 2024, with a growth rate of 1.2%. The scenario will probably improve in 2025, with the growth rate jumping to 2.1% straight.

Nike reported a drop in profits Tuesday on sagging revenues as the sports giant cautioned that a turnaround from a rocky period would take time under a new CEO. The athletics company's financials showed lower sales in every operating region, as its CFO pointed to lackluster store traffic in China and excess inventories in leading markets.

Tech giant Oracle on Wednesday said it plans to invest more than $6.5 billion on cloud services data centres in Malaysia, joining a list of US titans rushing to build up their AI infrastructure in Southeast Asia.

Under the agreement, Santos will supply up to 500,000 tons of liquefied natural gas (LNG) annually for three years, starting in Q4 2025.

Treasurer Cameron Dick put the cost of setting up the energy retailer at about AU$1.4 million adding that it would help people save up to 6% of their energy bills.

The affected areas will be the Direct Insurance Australia and Intermediated Insurance Australia divisions.

The eurozone's annual inflation rate fell to its lowest level in three-and-a-half years in September, official data showed Tuesday, dropping below the European Central Bank's two-percent target and fuelling expectations of a rate cut.

German chemicals group Covestro said Tuesday it had accepted a takeover bid from UAE state energy company ADNOC, as one of the key sectors in Europe's largest economy is gripped by crisis.

The latest figures boosted Australian dollar by 0.25%, bringing it to AU$0.6930, just shy of its 1.5-year peak of AU$0.6943.

The brands getting the axe are Rockmans, Autograph, Crossroads, W Lane, and BeMe, following which, Mosaic will focus on its five other brands -- Katies, Millers Noni B, Rivers, and its standalone Mosaic marketplace, Mosaic Brands, CEO Erica Berch said.

Treasurer Jim Chalmers responded the government cannot not regulate agreements between the Reserve Bank and the commercial banks. "But I do share the concern .... that some elements of confidentiality may have been breached, and I'm sure that our colleagues at the bank are working through what that means for the way that they conduct those briefings and who's involved."

Announcing the funding, Prime Minister Anthony Albanese said his government wanted to crack down on "misleading and deceptive pricing practices and unconscionable conduct.

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal that could shake up Australia's Qantas-dominated market.

Chalmers believes the recent stimulus measures from China, including its decision to cut interest rates and inject liquidity through mortgage refinancing could potentially boost steel demand, leading to an increase in iron ore prices.

Besides low spending, the government stated strong commodity prices and a larger income tax as contributing to the two consecutive surpluses. The government also saved by paying less to the states and territories.

The engineers across major airports, including Sydney, Melbourne, Brisbane, Canberra, Adelaide, and Perth, have threatened to hold further strikes if their demands aren't met.

The watches are the latest products Trump has introduced since the start of his third campaign including Bibles, sneakers, photo books and cryptocurrency.

Bitcoin has had a rough few weeks following two market bloodbaths last month, but this week has been good for the digital currency, allowing the crypto coin to pass the $65,000-mark late on Thursday.

Many politics-themed memecoins have been surging overnight as the race between VP Kamala Harris and ex-President Donald Trump heat up on Polymarket, where crypto users gather to bet on who they think will be the 47th president of the United States.

The companies say they 'expect strong client demand and maintain the flexibility to significantly expand the size of the program.'

The Supermarkets Inquiry Interim Report by the Australian Competition and Consumer Commission (AICCC) found that the country's biggest grocery chains, Coles and Woolworths, were acting as "oligopoly," limiting the incentive to compete on price.

PayPal has announced that merchant accounts will also now be able to buy, hold, and sell cryptocurrencies as the digital payments platform has seen increased interest among business owners to utilize crypto.