🗞️ Flight chaos

Good morning. Special thoughts go out to those flying via the Middle East this week, those who partied a bit too hard at Mardi Gras, and anyone else who hit snooze a few too many times because they'd rather be in bed.

It’ll be 5pm before you know it! Good luck.

All the headlines and more below...

AUSTRALIAN & GLOBAL NEWS

Australians in Middle East warned of 'difficult days ahead' as flights cancelled

• Australian travellers have encountered severe disruptions as airspace closures from Iranian missile strikes affect airlines and repatriation efforts in the Middle East. LINK 

• Australia's major banks are embroiled in a massive fraud investigation as a network is suspected of defrauding them of at least $300M through fraudulent loans. LINK

• Negative gearing in Australia may be limited to 2 properties per investor. LINK

• Australia's fertility rate is projected to fall to 1.42 babies per woman by 2026. LINK 

• A record number of financial complaints was lodged in Australia in 2025 due to delays in claim handling and firm collapses. LINK 

• Content creators in Australia face ambiguity in tax rules despite being required to declare gifts and goods as taxable income. LINK

• Brands are shifting social media strategies dramatically to capture audiences within 3 seconds. LINK

COMPANY NEWS

ASIC alleges Budget Direct misled thousands of consumers on discounts

• Budget Direct, owned by Auto & General, is accused by ASIC of misleadingly removing discounts from insurance policies, resulting in a $3.3M overcharge to customers. LINK

• BMW is addressing fire-risk issues with extended warranties in the US, with Australian consumers face differing treatments despite identical hardware. LINK  

• Coles struggles against rival Woolworths with slower sales growth while its liquor business underperforms, despite efforts to compete with Aldi's pricing. LINK

• WiseTech faces union demands for consultation over potential AI-related job cuts impacting 30% of its workforce. LINK

• OpenAI has partnered with the Pentagon to deploy AI models in a classified setting despite its commitments to ethical use guidelines. LINK

• Harvey Norman posted a 15.2% rise in interim net profit to $321.91M, attributed to improved performance in franchising, retail and property segments, prompting a dividend increase. LINK 

• Anthropic is developing safer AI technology while balancing ethical concerns and market competition. LINK

• Virgin Australia reported a significant drop in net profits as the end of tax credits from administration offset underlying earnings, which rose thanks to robust domestic demand. LINK

• Samsung and Google's collaboration on AI for devices may revolutionise interactions and challenge smartphone dominance. LINK

• TPG Telecom has gained market share from Telstra and Optus with cheaper digital-first mobile plans as it fuels a rise in net profit to $52M. LINK

• Star Entertainment reports slashing losses to $110M, but regulatory pressures remain and financial uncertainty continues. LINK

CHART OF THE DAY

Many rare diseases affect women and men differently

ONE MORE SCROLL

Editor’s Pick: Dogs build their vocabularies like toddlers.

Draft Pick: Women's Asian Cup hopes to change women's football in Australia, again.

Odd Pick: How to trick your brain into doing something you’re avoiding.

TOGETHER WITH

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TRIVIA

We go to South America and look at some capitals. We’ll give you the country, you need to provide the capital:

1. Brazil

2. Chile

3. Colombia

4. Peru

5. Ecuador

6. Venezuela

Answers below

OUR SOCIALS

ANSWERS

1. Brasilia
2. Santiago
3. Bogotá
4. Lima
5. Quito
6. Caracas

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