🗞️ Mirror mirror

A California startup wants to put giant mirrors in space to bounce sunlight back to Earth after the sun goes down.

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Good morning. A California startup wants to put giant mirrors in space to bounce sunlight back to Earth after the sun goes down.


The company says that reflected light could power solar farms after sunset, help illuminate disaster zones and even brighten city streets.


And you thought your phone light was bad for sleeping...


All the headlines and more below...

AUSTRALIAN & GLOBAL NEWS

The government has temporarily amended fuel quality standards amidst global disruptions

  • The government has temporarily amended fuel quality standards to divert an extra 100 million litres per month of petrol to domestic supply, as panic buying spread following disruptions to Middle East oil shipments and flooding in QLD. LINK

  • Australia introduces tiered pricing for graduate visas as immigration fees double for some applicants LINK

  • The Australian government is finalising a regime to bring crypto exchanges and digital wallets under the AFSL. LINK

  • Sydney Airport has warned of a potential aviation fuel shortage next month as Australia remains heavily reliant on imported fuels. LINK

  • Australia and Indonesia will expand security cooperation to include Japan, Papua New Guinea. LINK

  • The Australian Fashion Council has launched a national strategy with RM Williams to boost onshore wool processing as Australia loses $2.6B annually by exporting raw fibre. LINK

  • Australia’s AI boom collides with clean-energy ambitions as data centre power demand surges LINK

COMPANY NEWS

Atlassian cuts 1,600 jobs globally with 480 roles lost in Australia as AI competition intensifies

  • Atlassian has cut 1,600 jobs as it faces falling market value and intensifying AI competition, with 480 roles lost from its Australian operations. LINK

  • KPMG Australia has hired Coforge to provide 200 executive assistants in the Philippines as it seeks to save $17M annually by offshoring 75% of roles. LINK

  • Westpac has begun a major restructure by offshoring and outsourcing key functions, as the FSU expects 1,500 workers will leave the bank. LINK

  • Coles has decided to shut its Swaggle online pet care business after a 2-year trial. LINK

  • Qantas is maintaining its current flight schedule, while Air New Zealand has cut 1,100 flights over 2 months due to soaring fuel prices and supply risks. LINK

  • Meta has disabled 150,000 accounts in a coordinated crackdown on scams across over 10 countries as Thai Royal Police arrested 21 people and new anti-scam tools launched. LINK

  • AustralianSuper is urging the government to end a 30-year ban on super fund borrowing as it seeks greater flexibility to manage liquidity for the $4.5 trillion industry. LINK

  • Bendigo and Adelaide Bank has failed to pay commissions to several top clients including Qantas Money and REA Group as a technology outage follows a previous money-laundering scandal. LINK

  • The Electrical Trades Union has initiated steps for a strike ballot involving about 60 high-voltage workers at BHP in the Pilbara, marking potential first industrial action since 2009. LINK

  • Anthropic has pledged to fund new power generation and upgrade local energy grids as it plans potential data centres in Australia while preparing to open a Sydney office. LINK

  • Tasmanian poultry company TasFoods has entered administration as its main brand Nichols Poultry faced losses from industry-wide discounting and oversupply, with KPMG appointed administrator. LINK

  • Collins Foods has agreed to acquire 8 KFC restaurants in Munich, Germany for EUR31.1 million as part of its plan to grow its German portfolio by 50%. LINK

  • Nvidia has announced a US$2B investment in AI cloud company Nebius as the firms collaborate to deploy over 5GW of Nvidia systems by 2030. LINK

  • Champion Iron has secured 90.07% shareholder approval for its proposed US$289M takeover of Rana Gruber. LINK

ONE MORE SCROLL

Editor’s Pick: Where you grow up can affect your personality as new research suggests nurture may be more important than nature.

Draft Pick: Bam Adebayo scores a record high 83 points becoming the second highest scorer in a single NBA game moving him past Kobe Bryant’s historic 81 point game.

Odd Pick: Paranormal investigator working with infamous cursed Annabelle doll dies suddenly.

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