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Corporate news, markets, and the economy

Markets stabilise as oil retreats, but ASX recovery remains fragile
Business

Markets stabilise as oil retreats, but ASX recovery remains fragile

Global oil prices have pulled back from their highest levels since 2022, easing investor fears. The ASX is positioned for modest gains, though energy supply disruption through a key shipping channel threatens long-term inflation pressures.

Meta acquires Moltbook, the AI chatbot social network
Business

Meta acquires Moltbook, the AI chatbot social network

Meta is acquiring Moltbook, a social network where AI agents post and interact, absorbing its creators into Meta Superintelligence Labs as the company races to commercialise AI.

Legora's $5.55 billion valuation shows legal AI has moved beyond hype
Business

Legora's $5.55 billion valuation shows legal AI has moved beyond hype

Legora's $550 million Series D round valued at $5.55 billion reveals that legal AI adoption has moved from pilot projects to production workflows. The question now is whether venture capital's enthusiasm can sustain a market that demands ruthless efficiency.

The AI Job Divide: Same Roles Shrinking and Booming
Business

The AI Job Divide: Same Roles Shrinking and Booming

A new survey reveals an unusual pattern: occupations experiencing the largest job losses are also seeing the strongest demand for specialised roles. The shift reflects a fundamental reshaping of the skills economy around AI management.

Middle East war signals extended oil shock for Australia's fuel costs
Business

Middle East war signals extended oil shock for Australia's fuel costs

As conflict between Israel and Iran deepens, global oil prices have surged past $100 a barrel for the first time since Russia's invasion of Ukraine, with analysts warning of prolonged supply disruptions that will ripple through Australian fuel costs and manufacturing.

US Airline's System Failure Grounds Its Entire Fleet
Business

US Airline's System Failure Grounds Its Entire Fleet

A brief system outage forced JetBlue to request a nationwide ground stop early Tuesday morning, affecting hundreds of flights and highlighting vulnerabilities in critical airline infrastructure.

War in the Middle East hits Australian travellers' wallets
Business

War in the Middle East hits Australian travellers' wallets

Escalating tensions between Israel and Iran have sent jet fuel costs surging, prompting Australia's biggest airline to raise international fares and prompting Air New Zealand to suspend financial guidance.