Xero’s CTO resigns in second leadership departure this month
Rick Carragher will leave Xero in early August after serving 16 months as chief technology officer, employees were told on Wednesday.
Daniel Van Boom
The UK’s $100 billion fintech disruptor takes aim at Australia’s big four banks
Revolut, a UK fintech last valued at US$75 billion ($104 billion), has been approved to operate banking services in Australia. It plans to spend “nearly” $400 million to win over the local market.
Xero executive quietly departs amid SaaSpocalypse slump
Xero’s chief people officer, charged with driving the company’s “performance-driven culture”, departed the ASX accounting giant earlier this month.
Albanese creates Office of AI so Australia can be ‘more than a data warehouse’
“We should not treat AI as a threat to good jobs, we must use it as an instrument to create them,” Prime Minister Anthony Albanese said, pledging to legislate national AI standards – including copyright protections – by early 2027. A swaggering Anthony Albanese declared Australia the best place in the world to invest in […]
Australia doesn’t need copyright change to win data centre billions, AI boss says
Copyright law has become the central flashpoint of Australia’s AI and data centre policy. Sharon AI chief executive James Manning says no changes are needed.
Xero gives ‘low performers’ 30-day ultimatum amid CEO pay push
Xero has amped up performance management of staff, offering underperformers the option for immediate severance, amid AI’s disruption of the SaaS market.
Telstra national mobile outage hits transport, Triple Zero services
Telstra’s mobile services are unavailable for thousands of customers across Australia. The company says it’s aware of the problem and is working to fix it. Key Takeaways Crucial Quote “The issue is impacting a number of nodes within our network that keep time across the mobile network, and when these nodes are not operating as expected, […]
Brandon Capital scores its biggest return ever with $2.1bn biotech acquisition
Brandon Capital led cancer therapeutics startup Myricx Bio’s $8.5m seed round in 2019. Now Novartis is buying it for up to $2.16 billion. One of Australia’s longest tenured VC firms will soon enjoy its best ever return on a single investment following Novartis’ US$1.1 billion ($1.58 billion) acquisition of London biotech startup Myricx Bio. Melbourne-headquartered […]
Samsara Eco kicks off $100m raise to recycle critical minerals
After forging deals with Lululemon and LSKD for its recycled fabrics, Samsara Eco is looking to develop a means of extracting and reusing rare earth metals.
IREN co-founders score $1.14 billion pay packet amid AI bonanza
The board of Sydney-headquartered IREN approved a four-year stock compensation package for co-CEOs Dan and Will Roberts currently worth over $570 million each. The board of Sydney-headquartered, New York-listed IREN has approved an equity package for co-founders Will and Daniel Roberts valued at US$788 million ($1.14 billion) based on its stock price today. Each brother […]