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Australia/Oceania

New Zealand GDP Falls 1.2% in Q2, Raising Odds of 50bps Rate Cut

Prior to President Donald Trumps state visit, Google announced a £68 billion $85 billion investment in the UK, with an emphasis on data centres, rene

Prior to President Donald Trumps state visit, Google announced a £68 billion $85 billion investment in the UK, with an emphasis on data centres, renewable energy, and AI infrastructure. In order to power operations responsibly, the strategy calls for growing its London campus, constructing additional hyperscale data centres, and increasing the procurement of green energy. Google wants to create thousands of jobs while bolstering the UKs leadership in AI and digital economy. The investment shows faith in Britains regulatory framework and is consistent with larger U.S.UK tech cooperation. The action was hailed as a "vote of confidence" in the UKs innovation ecosystem by Prime Minister Rishi Sunak. In the face of intensifying competition from China and the EU, the declaration strengthens transatlantic tech relations. Read More..

B2B Tech News | 8 days ago         

ANZ Bank to Cut 3,500 Jobs Under New CEO Nuno Matos

In a significant reorganisation spearheaded by new CEO Maile Carnegie Matos, who assumed leadership in September 2025, Australias ANZ Bank will lay of

In a significant reorganisation spearheaded by new CEO Maile Carnegie Matos, who assumed leadership in September 2025, Australias ANZ Bank will lay off 3,500 employees. In the face of growing competition and pressure from the digital revolution, the layoffs are intended to simplify operations and cut expenses. The majority of impacted positions are in support and backoffice roles, and the bank has promised to provide severance and redeployment benefits. In order to enhance the client experience, Matos underlined the necessity of updating ANZs business strategy and making technological investments. The action comes after similar layoffs at international banks as they adjust to the upheaval caused by fintech and economic uncertainties. The changes, according to analysts, are a reflection of ANZs drive for profitability and agility in a financial environment that is changing quickly. Read More..

B2B Tech News | 1 months ago         

Qantas Confirms Data Breach Affecting 5.7 Million Customers, Linked to Scattered Spider Hackers

After a cyberattack on a thirdparty call centre technology, Australian airline Qantas has reported a significant data breach impacting 5.7 million cus

After a cyberattack on a thirdparty call centre technology, Australian airline Qantas has reported a significant data breach impacting 5.7 million customers. Names, email addresses, frequent traveller information, and more private data, such as residences, phone numbers, birthdates, gender, and food preferences, are among the compromised data for the 1.7 million customers. Passport information, passwords, or financial information were not accessed. The Scattered Spider hacker organisation, which specialises in attacking aviation companies, is thought to be connected to the intrusion. Qantas has improved cybersecurity and is informing impacted customers. The Australian Federal Police is among the authorities conducting the investigation. Customers are advised to utilise multifactor authentication to protect their accounts and to be on the lookout for phishing and impersonation frauds. Read More..

B2B Tech News | 4 months ago         

From Recession Exit to Rate Pause RBNZ Charts Cautious Path Forward

Reuters polled 27 analysts and found that the Reserve Bank of New Zealand RBNZ would maintain its benchmark cash rate at 3.25% on July 9. Eight big ba

Reuters polled 27 analysts and found that the Reserve Bank of New Zealand RBNZ would maintain its benchmark cash rate at 3.25% on July 9. Eight big banks, including ANZ, ASB, and Westpac, predict a 25 basis point drop, while the majority predict no change. As the economy grew by 0.8% in Q1, the RBNZ has already lowered interest rates by 225 basis points since August. Inside the RBNZs 1–3% target range, inflation slowed to 2.5 percent, but uncertainty still exists. If future inflation data is available, a further 25 basis point decrease is anticipated by September, most likely at the August meeting. It is anticipated that inflation will average 2.5% in 2025, with a median yearend rate prediction of 3.00%. Read More..

B2B Tech News | 4 months ago         

RBA Cuts Rates to 3.85% as Australia Navigates Global Economic Uncertainty

In light of a more bleak global outlook and declining inflation, Australias central bank lowered its policy rate by 25 basis points to a twoyear low o

In light of a more bleak global outlook and declining inflation, Australias central bank lowered its policy rate by 25 basis points to a twoyear low of 3.85%. In Q1 2025, consumer price inflation slowed to 2.4%, while core inflation fell to 2.9%, bringing it back to the RBAs target range of 23%. Markets anticipate more easing amid worries over global trade, and the Australian currency dropped 0.4%. In order to avoid making further cuts, the Reserve Bank of Australia continues to exercise caution. The choice takes into account market volatility worldwide, particularly the effect of US tariffs on Australian goods. Read More..

B2B Tech News | 5 months ago         

Australia’s ANZ Group Reports Flat Earnings Amid Global Trade Disruptions

Market realignment and alterations in international commerce were identified by Australias ANZ Group as the primary reasons for its stagnant firsthalf

Market realignment and alterations in international commerce were identified by Australias ANZ Group as the primary reasons for its stagnant firsthalf earnings. Trade flows are disrupted, necessitating companies to adjust their strategies and reallocate funds, according to outgoing CEO Shayne Elliott. ANZs cash profit stood at A$3.57 billion, slightly exceeding expectations but affected by intense competition in home loans. The restructuring of home loans led to a 48% surge in gross impaired assets, while the banks net interest margin remained steady at 1.56%. With the A$4.5 billion acquisition of Suncorp Bank, ANZ also bolstered its institutional lending. Rather than declining, Elliott emphasised that global economic activity will reorganise, positioning ANZ for longterm resilience. Read More..

B2B Tech News | 6 months ago         

Gold Fields Acquires Gold Road for $2.4 Billion Amid Gold Price Surge

The Gruyere gold mine in Western Australia will now be owned by South Africas Gold Fields after the two countries agreed to pay $2.4 billion to acquir

The Gruyere gold mine in Western Australia will now be owned by South Africas Gold Fields after the two countries agreed to pay $2.4 billion to acquire Australias Gold Road Resources. Finalised after Gold Road turned down a previous approach, the deal offers a 43% premium to the companys March closing price, valuing it at A$3.7 billion. The purchase coincides with recordhigh gold prices—above $3,000 per troy ounce—which are driving a surge in mergers in the gold industry. CEO of Gold Fields Mike Fraser highlighted the strategic advantages, pointing to increased production potential and land availability. The business will reinforce its worldwide mining portfolio by financing the acquisition using bridge finance and robust cash flow. Read More..

B2B Tech News | 6 months ago         

Woodside Energy and BP Ink LNG Supply Deal for Louisiana Project

For the Louisiana LNG project, Woodside Energy, the biggest gas producer in Australia, has inked a longterm LNG supply contract with BP. The contract

For the Louisiana LNG project, Woodside Energy, the biggest gas producer in Australia, has inked a longterm LNG supply contract with BP. The contract supports Woodsides goal of producing 24 million tonnes of LNG annually Mtpa worldwide by 2030, which entails up to 640 billion cubic feet of natural gas. The project, which was purchased for $1.2 billion from Tellurian, is anticipated to yield an internal rate of return of 13% and $2 billion in net operating cash annually. Additionally, Woodside paid $5.7 billion to American investor Stonepeak for a 40% share in the Louisiana LNG plant. The partnership demonstrates Woodsides approach to utilising BPs lowmethaneintensity gas supply capabilities while meeting the worlds expanding energy needs. Read More..

B2B Tech News | 6 months ago         



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