Former Disney chief Bob Iger and Tesla chair Robyn Denholm, both Canva board members, dialled in to the company all-hands as the founders addressed staff in the wake of nearly 1,300 job cuts, with Iger declaring the restructure “the right thing at the right time.” Cliff Obrecht told Canva employees on Tuesday that the founders […]
David Jones’ receivers FTI Consulting announced on Wednesday it would close 19 stores across five states, the ACT and New Zealand. David Jones locations in Sydney’s Parramatta, the Sunshine Coast’s Sunshine Plaza and Adelaide’s Marion are among 19 outlets to be shuttered by the end of the year, receivers announced on Wednesday. Receivers FTI Consulting […]
AI startup Mercor announced a new funding round Tuesday that increased the company’s valuation to $20 billion, up from $10 billion a year ago.
David Jones fell into both voluntary administration and receivership last week amid piling debt. Now its administrator is kicking off a rapid sale process. Prospective buyers of David Jones have until Friday afternoon to express interest as administrators McGrathNicol kick off a sale process for the iconic retailer after its collapse last week. Formal advertisements […]
Australian design giant Canva is cutting 22 per cent of staff, around 1,271 employees, in its first ever major restructure since being founded in 2012.
From aggressive hikes to the first cuts of the cycle, the Reserve Bank’s policy moves have reshaped mortgages, business borrowing and the economy. Below, we break down every rate decision since 2023.
Ash Kansakaar and Jaideep Upadhyay met in Melbourne after growing up in Nepal and India, respectively. They’ve raised $3 million for their Syncrowin startup, which develops AI to help power providers predict disruptions before they happen.
The fortunes of the eight wealthiest people on the planet all dropped over the past month as tech stocks tanked.
Australian, Nasdaq-listed neocloud Sharon AI is hiring staff and looking to raise capital for a data centre campus in regional New South Wales, to be delivered by a mysterious “affiliated venture.” In September Australian neocloud Sharon AI confirmed it had bought a retired paper mill in Albury, a regional city between Sydney and Melbourne. It […]
Airtree has pumped $5 million into Adelaide’s Metacognition, bringing the AI startup’s pre-seed round to a huge $15 million.