🗞️ Medium rare

Good morning. NAB economists declared that the next move in official interest rates will be downward, pointing to a recent softening in economic data.

The RBA has already hiked three times in 2026, pushing the cash rate to 4.35% and fully wiping out last year's cuts.

This is a welcome signal for millions of mortgage holders still nursing the wounds of three consecutive hikes this year.

All the headlines and more below...

STEAK PRICES ARE RISING. RESTAURANTS ARE SHRINKING YOUR CHIPS INSTEAD.

Some restaurants aren't raising menu prices when beef costs jump. Instead, they are tightening portion control on sides - fewer chips, less sauce, smaller salad. The actual steak stays the same size.

Most cost blowouts come from staff over-portioning sides without thinking. An extra ladle of sauce or handful of chips adds up fast. Fixing that absorbs the price increase without touching the hero dish. Restaurants are also ordering high-volume signature cuts like rib fillet in bulk, which keeps supplier pricing more stable.

Demand for Australian beef is holding despite cost pressure. Diners still want provenance and they'll pay for it, as long as the menu doesn't feel like a rip-off.

AUSTRALIAN NEWS

• Australia’s rush to build data centres for AI has sharply raised grid security risks, as AEMO warns a 2028 “critical point” and potential 1,500MW outages near western Sydney. LINK

• Australia's home battery count has surged to around 600,000, including more than 400,000 added in the past year, but AEMO has warned that most are not participating in grid-supporting orchestration programs. LINK

COMPANY NEWS

• Southern Cross Media has begun a consultation process that is expected to cut up to 200 jobs across Seven West Media to achieve about US$25M in savings. LINK

• Sigma Healthcare, which last year combined with Chemist Warehouse Group, has confirmed preliminary talks to buy UK chain Boots in a deal reportedly worth more than $14B. LINK

• KPMG has amassed a $560M debt equating to $815,000 per partner as it faces scrutiny over whistleblower audit allegations and the potential loss of $442M in contracts. LINK

• Jetstar has secured a 5-year agreement with Western Sydney International Airport to launch its first commercial passenger flights on 25 October, operating 21 weekly services as QantasLink follows in March 2027. LINK

2026 AUSCORP SALARY SURVEY

Since late 2022, your employer can no longer stop you discussing your pay. But most people still have no idea what the person next to them earns. We're trying to fix that.

This is our biggest survey yet and the more people who contribute, the harder it gets for anyone to be underpaid without knowing it. Anonymous, takes 2 minutes, and the results go straight back to the community.

ONE MORE SCROLL

Editor’s Pick: V&A closes South Asia gallery for first renovation in 30 years.

Draft Pick: Serena winds back the clock in triumphant tennis return.

Doctor’s Pick: AI-powered precision nutrition Is redefining how we eat.

TRIVIA

Rank the below weight groups in boxing from lightest to heaviest:

Heavyweight, Featherweight, Welterweight, Flyweight, Bantamweight

Answer below

OUR SOCIALS

ANSWER

Flyweight, Bantamweight, Featherweight, Welterweight, Heavyweight

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