🗞️ Grand-Theft Mario Kart

Good morning. Despite being invite-only, OpenAI’s new app, Sora has already hit number one on the Apple App Store.

Separate allows users to generate short form AI videos so you can show yourself scoring in the NRL Grand Final or streaming a live-motion of SuperMario on the run from police.

The future is coming and it could be full of lies.

All the headlines and more below...

AUSTRALIAN NEWS

Aussie bosses say work from home is here to stay

• Only 22% of Australian CEOs expect full-time office returns within 3 years whilst flexible work trends persist post-pandemic, down from 82% last year. LINK

• 1,000 Australian suburbs experienced declines in median house or unit prices last quarter as some fell over 40%, aiding first-home buyers. LINK

• Of the nearly 250,000 Australian homes facing severe-to-extreme flood risk, 80% lack insurance whilst 70% are in lower-income areas as concerns rise about disaster costs falling on taxpayers. LINK

• New telehealth guidelines require doctors to prescribe medication only after an in-person consultation. LINK

• Australian property market sentiment has surged to a 15-year high driven by low rates, tight supply and first-home buyer schemes. LINK

• A growing number of women are leaving Australia’s venture capital sector for startup operator roles due to limited career growth and better opportunities elsewhere. LINK

• Investment banking fees rose 14% to $2.1B in the first 9 months of 2025 while mergers and acquisitions dropped 16.7% to a 5-year low of $64.2B amid geopolitical uncertainty and private equity fundraising struggles. LINK

• More than $1.76B in unpaid wages were recovered over 5 years in Australia as over 9,400 businesses breached wage laws in public administration, hospitality and mining. LINK

• Australian consumer sentiment fell 3.5% in October 2025 to 92.1 as concerns grow over family finances and speculation rises that interest rates may not drop further. LINK

• Nearly one-third of reviewed auditors likely breached independence and conflict-of-interest rules whilst prompting fines and registration cancellations. LINK

• Australians are planning early for Christmas spending as last year's ASIC data showed $800 average seasonal outlay amidst ongoing cost-of-living pressures. LINK 

• Australian retailers are facing pressure from shifting consumer spend toward global e-commerce giants, as nearly 50% of families now prefer overseas marketplaces. LINK

• Gold has become Australia’s second most valuable export as geopolitical risks, US rate cut expectations and global uncertainty drive investor demand. LINK

GLOBAL NEWS

Rising agentic AI costs could impact ROI

• AI adoption is inflating business expenses as token consumption surpasses compute price drops, prompting leaders to tie AI investment to company strategy. LINK

• Massive AI investment is fuelling fears of a potential US$1T bubble as companies rush into spending despite doubts about profitability timelines. LINK

COMPANY NEWS

Western Sydney University says emails claiming 'revoked' degrees are 'fraudulent'

• Western Sydney University was hit by a data breach involving a scam email that falsely revoked student degrees whilst using genuine university details. LINK

• CBA has shifted its entire core banking system to Amazon Web Services, becoming the first major Australian bank to fully migrate to the cloud while enabling faster AI-driven financial services. LINK

• Snapchat will begin charging for cloud storage of its Memories feature with monthly plans ranging from a free 5GB tier to a 5TB option at $16. LINK 

• Mesoblast generated $33.1M in gross revenue from its Ryoncil therapy for the September quarter as Medicare support improved access whilst boosting quarterly growth by 66%. LINK

• Australia Post reports at least 5 postal workers are injured each week due to reckless drivers, as it urges motorists to be more careful for road safety. LINK 

• Deloitte has been criticised for submitting a $440,000 government report with AI-generated errors, prompting calls for greater AI transparency and accountability in consulting. LINK

• Super funds Aware Super and TelstraSuper will merge into a $235B fund with 1.3M members as they target lower costs and stronger retirement offerings. LINK

• OpenAI announced new enterprise partnerships with Spotify, Zillow and Mattel at its developer event while emphasising practical AI business solutions. LINK

• Australian defence tech firm DroneShield is investing $13M in a new Adelaide facility as global demand rises whilst creating 20 high-skilled jobs to boost counter-drone technology. LINK

• CBA’s ASB Bank agreed to a $120M settlement over alleged credit contract breaches whilst not admitting liability, impacting its stock. LINK

• Austal signed an $880M US Navy contract to build the navy's new floating dock, securing future work for the company. LINK

CHART OF THE DAY

15 years of Instagram

ONE MORE SCROLL

Editor’s Pick: ‘Peaky Blinders’ sequel series gets two-season order at Netflix, Cillian Murphy executive producing.

Draft Pick: Zion Williamson shines as the Pelicans defeated the South East Melbourne Phoenix 127 to 92 in the NBA overseas exhibition game.

Odd Pick: Dwayne Johnson on potential presidential run: “We’ll See”.

TOGETHER WITH

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TRIVIA

Linda is 31 years old, single, outspoken and very bright. She majored in philosophy. As a student, she was deeply concerned with issues of discrimination and social justice, and also participated in anti-nuclear demonstrations.

Which is more probable?
A. Linda is a bank teller.
B. Linda is a bank teller and is active in the feminist movement.

Answer below

OUR SOCIALS

ANSWER

It’s more likely that ‘A. Linda is a bank teller.’
The intuitive answer is to say that it’s more likely ‘Linda is a bank teller and is active in the feminist movement.’ However, this answer is incorrect.

The chance that Linda is a bank teller requires just one event to be true. The chance that Linda is a bank teller and active in the feminist movement requires the first event to be true plus a second event.

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