🗞️ Mega Hack

Good morning.

Cybersecurity researchers have found more than 16 billion stolen login credentials from Apple, Facebook and Google.

Google is advising billions of users to change their passwords to much more secure passkeys.

Time to change up your 12345678 password to something a little more secure.

All the headlines and more below...

AUSTRALIAN NEWS

Australia's highest-paid CEOs revealed — and the one woman on the list

• Australia's top CEOs now earn 55 times more than average workers while receiving reduced bonuses and termination packages. LINK

• The ATO will remove tax deductibility of interest on outstanding debts from 1 July as new legislation aims to tighten compliance rules. LINK

• Australia has ranked among the top nations for everyday millionaires, with 2M adults holding US$1-5M in wealth. LINK

• Australia's unemployment rate remained steady at 4.1% despite slowing public sector hiring and 2,500 job cuts in May. LINK

• Australian house prices have increased, while apartment prices continue to disappoint investors. LINK

• Australian tomato prices have reached record highs due to adverse weather and crop virus impacts. LINK

• Australia's major banks are competing for executive talent amid high turnover rates. LINK

• The ASX has lost 145 listings in 2 years as private markets attract more companies. LINK

• The NT government revealed 11 US military fuel tanks were built at Darwin Harbour without building permits, failing to follow cyclone standards. LINK

• QLD has lifted all fishery investment warnings to boost commercial fishing confidence. LINK

GLOBAL NEWS

Stocks tumble, dollar up as Middle East war lights safe-haven trade

• Global markets declined as President Trump suggested possible US military action in the Israel-Iran conflict. LINK

• The US Federal Reserve has tempered rate cut expectations, cautioning that planned US tariffs may increase inflation and delay rate cuts. LINK

• Australian investors have secured a 12-month delay on new US taxes under Trump's Section 899 law, whilst maintaining long-term uncertainties. LINK

COMPANY NEWS

UBS CEO’s phone number leaked on dark web after cyber attack: reports

• UBS confirmed that data from 130,000 employees was leaked on the dark web following a ransomware attack. LINK

• Flatoutbear founders are challenging Aldi over alleged design infringement of their 100% sheepskin teddy bear with a polyester version. LINK

• CBA has secured a $15M annual Socceroos sponsorship deal ahead of the 2026 US World Cup. LINK

• Rio Tinto has agreed to pay $213.65M to settle a lawsuit claiming it defrauded investors by withholding information about cost increases and delays at the Mongolian Oyu Tolgoi copper and gold mine. LINK

• News Corp CEO Robert Thomson has become the highest-paid chief of an ASX-listed company with $42M in FY24 pay. LINK

• An EU court adviser has recommended upholding a €4.125B fine against Google for Android antitrust violations. LINK

• The merger between King & Wood and Mallesons Stephens Jaques faces leadership challenges. LINK

• KMD Brands has warned of a 50% drop in FY25 earnings as warm weather affects Kathmandu and Rip Curl sales. LINK

• Microsoft is prepared to abandon its high-stakes negotiations with OpenAI if the pair remain unable to agree on critical issues such as the size of Microsoft's future stake in OpenAI. LINK

• Apple is exploring generative AI applications to accelerate the design of its custom chips. LINK

• Microsoft will cut thousands of sales positions as the company prioritises artificial intelligence investment. LINK

• NAB has paid a $751,200 fine for breaching consumer data right rules by failing to disclose credit limit data properly. LINK

• Rest Super warned regulators about cash flow challenges as US tariffs prompted members to seek safer investments. LINK AFR

• DBS Bank signed an agreement with Austrade to boost Australian trade opportunities in Asia. LINK

• AGL Energy spends $25M annually on regulatory compliance, which contributes to higher electricity bills. LINK

• XRG confirmed its intention to acquire 100% of Santos amid speculation about LNG asset purchases. LINK 

• Macquarie Bank and Coles are leveraging AI-driven search tools to deliver personalised insights for improved operations. LINK

• Equity Trustees has paid a $56,340 penalty to ASIC for misleading investors about bond holdings in its Artesian Green and Sustainable Bond Fund. LINK

CHART OF THE DAY

Oil shipments across the world depend on a few major chokepoints

ONE MORE SCROLL

Editor’s Pick:  Thousands have attended the annual Golden Retriever Day in Golden, Colorado.

Draft Pick: The Wallabies have named their squad for the Fiji Test match next month.

Odd Pick: Amazon is ‘testing humanoid robots to deliver packages.’

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TRIVIA

Nicole Kidman turns 58 today, so we're celebrating one of Australia's greatest actresses with a trivia quiz dedicated to her.

1. In which 2001 musical film did Nicole Kidman star opposite Ewan McGregor?
   a) Chicago

   b) Moulin Rouge!

   c) Les Misérables

   d) Evita

2. Nicole Kidman won her first Academy Award for playing which real-life figure?

   a) Grace Kelly

   b) Virginia Woolf

   c) Diana Spencer

   d) Judy Garland

3. What country was Nicole Kidman born in?

   a) USA

   b) England

   c) Australia

   d) Hawaii

4. Who was Nicole Kidman married to before Keith Urban?

   a) Brad Pitt

   b) Tom Cruise

   c) Johnny Depp

   d) George Clooney

5. In which Batman film did Nicole Kidman star as Dr. Chase Meridian?

   a) Batman Returns

   b) Batman Forever

   c) Batman & Robin

   d) The Dark Knight

Answers below

OUR SOCIALS

ANSWERS

1. b) Moulin Rouge!
2. b) Virginia Woolf (in The Hours)
3. d) Hawaii (She’s Australian, but born in Honolulu!)
4. b) Tom Cruise
5. b) Batman Forever

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