Skip to main content

Business

Corporate news, markets, and the economy

OpenAI Pulls Plug on Sora as Disney Deal Collapses
Business

OpenAI Pulls Plug on Sora as Disney Deal Collapses

OpenAI has discontinued its Sora video generation app just six months after launch, with Disney simultaneously exiting a planned $1 billion investment. The shutdown reflects shifting priorities as the company prepares for public markets.

Jetstar cuts 12% of flights as Middle East conflict sends fuel costs soaring
Business

Jetstar cuts 12% of flights as Middle East conflict sends fuel costs soaring

Jetstar has announced temporary reductions to its New Zealand services and some Australia routes, citing rising jet fuel prices tied to Middle East conflict disruptions. The move affects around 44,000 passengers, though most are being offered same-day alternatives.

EU Trade Deal Cuts EV Costs but Leaves Big Tax Intact
Business

EU Trade Deal Cuts EV Costs but Leaves Big Tax Intact

Australia's new free trade deal with the EU will make some electric vehicles cheaper, but the luxury car tax—which generates $1.1 billion annually for the government—will remain in place despite European pressure to scrap it.

Australia's EU Trade Win Comes at a Cost to Farmers
Business

Australia's EU Trade Win Comes at a Cost to Farmers

Australia signed a landmark free trade agreement with the EU, but meat exporters immediately criticised the deal, saying the quotas fall far short of what international competitors achieved.