🗞️ Siri AI

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Good morning. Apple is reportedly opening Siri to rival AI assistants including Google's Gemini and Anthropic's Claude in iOS 27.

This will effectively turn the assistant into a distribution platform for competing AI services rather than trying to build its own.

Siri will now back end into the LLM of your choice as an part of a suite of AI extensions.

All the headlines and more below...

NATIONAL FUEL PRICES (Day-on-Day Change)

SUPPLIERS ARE ASKING COLES AND WOOLWORTHS FOR PRICE RISES TO COVER FUEL COSTS

Woolworths and Coles confirmed Thursday that suppliers have started requesting price increases to offset surging fuel costs. The number asking so far is a few dozen, but both supermarkets expect that to accelerate fast as fuel prices stay elevated and other inputs like plastic and packaging climb at the same time.

Fuel hits every part of the supply chain. Manufacturing. Transport. Cold storage. Packaging production. The same crude price spike driving petrol to $2.30 a litre is pushing up the cost of everything suppliers need to get products onto shelves.

The two supermarkets haven't said whether they'll absorb the increases or pass them through. Given their public stance on cost-of-living pressures and ongoing scrutiny from the ACCC, they're in an awkward spot. Accept the increases and margins shrink. Reject them and suppliers may pull back supply or go elsewhere. Pass them on and shoppers notice immediately.

AUSTRALIAN NEWS

• The federal government has threatened to limit exports from major Queensland LNG producers as the ACCC forecasts a potential 12 petajoule gas shortfall for eastern states this winter. LINK

• Taiwan has pledged to maintain diesel supplies to Australia as the Albanese government relies on LNG exports to secure energy amid tighter Asian oil markets. LINK

• Treasurer Jim Chalmers has announced Covid-era relief measures for businesses facing fuel price surges as Prime Minister Anthony Albanese pledged to maintain fuel supplies and cut costs amid Middle East turmoil. LINK

• The Australian government has announced up to $1B in interest-free loans for critical businesses such as transport operators and fertiliser producers as surging fuel costs threaten supply chains. LINK

• The Australian government has announced new restrictions banning most gambling advertising on TV, radio and online from 1 January to reduce children’s exposure to betting. LINK

• The Australian government has expanded funding for its home battery rebate scheme from $2.3B to $7.2B after more than 200,000 installations, while diluting benefits. LINK

• Outback farmers, who manage about 20% of Australia’s grazing land, are struggling to secure diesel. LINK

• Tourism businesses in southern Queensland are facing thousands in losses from booking cancellations and rising operational expenses as surging fuel prices deter visitors. LINK

XERO HAS ENTERED A MULTI-YEAR PARTNERSHIP WITH ANTHROPIC

Xero has signed a multi-year partnership with Anthropic, the AI company whose product update in early February wiped 16% off Xero's share price in a single day. The deal positions Anthropic as a behind-the-scenes provider rather than a direct competitor to software platforms.

Anthropic's February update caused fear in the SaaS sector that AI agents could replace traditional software platforms entirely by automating tasks users currently pay monthly subscriptions to perform. Xero was the hardest hit stock on the ASX 200 that day. The new partnership suggests Anthropic has opted for a B2B model rather than going direct to consumers and undercutting established platforms.

If AI tools can file tax returns, reconcile invoices or manage payroll without needing Xero's interface, Xero’s subscription model would fail. Anthropic appears to have decided it's more profitable to power the platforms than destroy them.

COMPANY NEWS

• PEXA is facing increased pressure on its margins as NSW regulator IPART has proposed a new methodology for calculating regulated prices for electronic conveyancing services. LINK

• IMDEX has acquired the remaining 60% of Canadian firm Krux Analytics for $23M, taking full ownership through existing debt facilities after an initial 40% purchase in April 2023. LINK

• ASIC has delivered a final report criticising the ASX for prioritising shareholder returns over market infrastructure as it works to replace its CHESS system in April 2026. LINK

• Goldman Sachs has led Australian mergers and acquisitions with US$15.2B in deals, commanding 48% market share as Macquarie Capital topped equity capital markets activity. LINK

• International crypto exchange platform Bitget has marketed unlicensed high-risk crypto futures with 125 times leverage in Australia while ASIC warned investors and enforced a 2:1 leverage limit. LINK

• Holcim and Heidelberg Materials have increased cement prices with an $8.67 per cubic metre surcharge. LINK

• Anthropic has signed a non-binding MoU with the Australian government under the National AI Plan, offering $3M in research credits and promising alignment with local data centre frameworks. LINK 

• Coles and Woolworths have confirmed dozens of suppliers are demanding higher prices due to surging fuel costs while input costs like packaging are also rising. LINK

• Air New Zealand has overtaken Singapore Airlines by launching the first international flights from Western Sydney, using A321 or A320 jets with all-economy seating and operating three times weekly. LINK

• OpenAI is set to reach over 1 billion users for ChatGPT in about 3½ years, surpassing the user growth rates of Facebook and TikTok. LINK

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CHART OF THE DAY

The most valuable public companies

ONE MORE SCROLL

Editor’s Pick: The no. 1 exercise to relieve your lower back pain, according to a trainer.

Draft Pick: Matildas' players join Japan criticising 'inequality' in prize money from Asian Football Confederation.

Odd Pick: The disturbing rise of the ‘alpine divorce’.

TRIVIA

What is the only country whose current national flag does not contain red, white, or blue?

Answer below

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ANSWER

Jamaica

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