Business, economy, regulation and policy, briefly.
Australia's corporate regulator has launched preliminary inquiries into the aborted $44 billion IPO of data centre firm Firmus following concerns over information provided to potential investors.
via The Age
Australian Prime Minister Anthony Albanese cited global inflation and international conflicts as primary drivers of domestic cost of living pressures.
via The Guardian
Health officials backed down on an opioid ban for kratom products following intense industry lobbying.
via The New York Times
Congress failed to win any seats in Legislative Council elections across four major Indian states, where voting was conducted using ballot papers.
via Business Line
The US restricted trade with Chinese genomics firm BGI over alleged links to forced labor and minority abuse.
via The New York Times
India approved a 3 percent hike in Dearness Allowance for central government employees and pensioners, benefiting 1.17 crore people.
via Business Line
PVR INOX posted a net profit of Rs 263.1 crore and record quarterly revenue of Rs 2,105.1 crore in Q2, driven by strong box office returns.
via Business Line
Chancellor John Healey's first Budget introduces cost of living support, energy payments, minimum wage increases and adjusted savings taxes.
via BBC News - UK Politics
Chancellor John Healey has set out tax and spending plans including energy bill overhauls, pension rises, and new levies on savings and bank profits.
via BBC News - Business
Australia's headline inflation rate has risen to 4.3 percent, though the Reserve Bank's chief economist has ruled out a recession.
via The Guardian
Exit polls from the Israeli parliamentary election show no clear winner, leaving neither political bloc with a majority.
via Financial Times
The rupee edged up 4 paise to 95.03 against the US dollar in early trade as markets awaited the Federal Reserve policy decision.
via Business Line
India's largest IPO absorbs significant market liquidity, diverting capital from secondary equities and contributing to a decline in benchmark indices.
via Business Line
Anthropic is offering shares in its massive IPO directly to Australian retail investors, providing a rare chance to back a frontier AI model maker.
via The Age
Ultrobotix Ltd. is advancing its AI Food Technologist initiative by preparing a proof of concept to test regulatory screening capabilities in Israel.
via Financial Post | Canada Business News
Beauty and personal care businesses are helping to support physical high streets by filling vacant spaces and attracting shoppers.
via BBC News - Business
UK small businesses attempting overseas expansion must adopt localized strategies, from targeted market research to transparent pricing, rather than relying on generic domestic models.
via Business Matters | The Uk's Leading Sme Business Magazine
Green Bean Studios has partnered with Findel Group to launch an early years edutainment subscription series, expanding the Manchester company's reach across UK schools and nurseries.
via Business Matters | The Uk's Leading Sme Business Magazine
UK Chancellor John Healey will deliver the Budget today, setting out the government's tax and spending plans for the year ahead.
via BBC News - Business
Australia's corporate regulator has launched preliminary inquiries into the aborted $44 billion IPO of data centre firm Firmus following concerns over information provided to potential investors.
The Australian Securities and Investments Commission has initiated targeted inquiries into the joint lead managers of Firmus following the cancellation of its planned initial public offering. The data centre company aimed to raise $7.9 billion, which would have valued the business at $44 billion and marked the largest debut on the Australian Securities Exchange since 1997. The regulator is assessing whether marketing information supplied to wholesale and institutional investors was accurate and supported by reasonable facts, though no formal investigation has been opened.
Institutional investors grew cautious during the listing process, raising issues regarding the company's aggressive valuation relative to its $50 million annual revenue and potential share overhang. Firmus, which recently posted a $110 million pre-tax loss alongside heavy capital expenditure for facility developments, has abandoned its public listing plans for now and intends to secure capital through private