Childcare Sector in Crisis as Parents and Investors Flee After Scandal
Commercial childcare providers are fighting for survival as parents pull children and superannuation funds cut exposure following a damaging industry scandal.
Daniel Kovac Business
Corporate news, markets, and the economy
Daniel Kovac 
AI Music Startup Suno Reaches 2 Million Paying Subscribers
Suno has hit 2 million paid subscribers and $300M in annual recurring revenue, cementing its place as the dominant AI music generator.
Tom Whitfield 
Rocket Report: Neutron Slips Again, Falcon 9 Hits 33 Flights
Rocket Lab's Neutron rocket is delayed again after a tank failure, while SpaceX's Falcon 9 booster B1067 completes a record 33rd flight.
Zara Mitchell 
ASX Small Caps: Hubify Leads the Pack With a 425% Premium Raise
Hubify raised $250,000 at a 425% premium as it pushes into AI and managed services, leading this week's ASX small cap movers.
Oliver Pemberton 
Record Financial Complaints Signal Deep Stress in Australian Households
A record 111,373 complaints were lodged with Australia's financial ombudsman in 2024, a 14% rise that reveals mounting household financial stress.
Aisha Khoury 
Dateline Resources Doubles Down on US Rare Earths with California Expansion
Dateline Resources has expanded its US rare earths footprint with a new California project and a stake in a US critical minerals company.
Mitchell Tan 
Raiz Invest Posts First-Ever Half-Year Profit as Micro-Investing Grows Up
Raiz Invest has recorded its first net profit in any first half of a financial year, a milestone marking the coming-of-age of Australia's micro-investing sector.
Andrew Marsh 
Magda Szubanski Shares Positive News After Rare Blood Cancer Diagnosis
Magda Szubanski has shared an encouraging health update after being diagnosed with a rare and aggressive form of blood cancer in May last year.
Mitchell Tan 
Hills Hoist Owner Flags Sale as US Parent Retreats From Australia
The US conglomerate behind the Hills Hoist clothesline is weighing a sale of its Australian operations as it refocuses on its core building products business.
Sarah Cheng Lion Consolidates Tech Leadership as Long-Serving Director Departs
Lion is restructuring its technology leadership, with group technology director Ram Kalyanasundaram set to leave and his role absorbed into a newly expanded position.
Jimmy O'Brien 
Redland Bay Shopping Village Listed for Sale After Rival Development Blocked
The owners of Redland Bay Shopping Village have listed the property for sale shortly after council rejected a rival retail development nearby.
Tom Whitfield 
Nvidia's Record Profits Fail to Impress Wall Street, ASX Braces for Losses
Nvidia posted another record profit but Wall Street shrugged it off, dragging US indices down and putting the ASX on course for a weaker open.
Oliver Pemberton 
A Columnist Signs Off: The Stories That Shaped CBD
Stephen Brook's farewell from the SMH's CBD column offers a rare look at the private moments behind Australia's public figures.
Mitchell Tan Optus Plans 700 New Hires as It Pulls Operations Back from India
Optus plans to grow its workforce from 6,800 to 7,500 staff within a year as it brings call centre and network operations back from India.
Mitchell Tan 
Melbourne's Inner-City Councils Eye Merger as Financial Pressure Mounts
Melbourne's inner-city councils are under severe financial strain, with merger proposals and rate cap breaches signalling a system under stress.
Mitchell Tan 
Sydney Fish Market's Billion-Dollar Makeover Hits an Access Problem
Sydney's revamped Fish Market is an architectural triumph, but chronic access issues are undermining its promise as a world-class destination.
Darren Ong 
Melbourne's Inner-City Councils Face Merger Push Amid Financial Strain
Calls are mounting for Melbourne's inner-city councils to merge into a single mega municipality as financial pressures intensify across the sector.
Mitchell Tan 
Qantas Posts Strong Half-Year Profit as Frequent Flyer Overhaul Looms
Qantas has reported a bumper half-year profit while announcing a major overhaul of its frequent flyer programme, with implications for millions of Australian members.
Oliver Pemberton 
Qantas Trims US Routes as Demand Softens, Revamps Loyalty Points
Qantas is cutting US capacity amid softer economy demand while shaking up its frequent flyer programme and adding a surprise Las Vegas route.
Mitchell Tan 
ASX Rides Nvidia Wave as Wall Street's AI Optimism Lifts Markets
The ASX extended its record run after Nvidia's results calmed fears about the AI boom, while Qantas shares fell on its latest earnings update.
Mitchell Tan