Asian shares surged after AI company Anthropic filed for a US initial public offering, disclosing a steep loss alongside rapid revenue growth. Investors are weighing the payoff from heavy AI spending. Meta Platforms also plans to raise up to $US95 billion in its largest-ever equity fundraising. Central banks in the United States, Europe and Japan are expected to hold interest rates steady this week. Brent crude eased 0.7 per cent to $US114.95 a barrel as investors weighed a possible resolution to the US-Israeli war with Iran.
Australian shares fell on Tuesday, with the S&P/ASX200 index down 0.25 per cent and the All Ordinaries down 0.19 per cent. Investors are cautious ahead of key economic data, interest rate decisions, and US tech earnings. Eight of 11 sectors declined, with financials and consumer staples weighing heavily. Star Entertainment shares surged 20 per cent after a strong earnings update, while SCX.ai joined Elon Musk's SpaceX Super Intelligence Partner Network. The Australian dollar dropped to 70.20 US cents.
Independent senator Fatima Payman asked whether Prime Minister Anthony Albanese was waiting for an attack on her office before approving a two-year-old request for an extra adviser. Her remark drew backlash from fellow parliamentarians, and she refused calls to withdraw it. The question followed an attack on independent MP Helen Haines, who lost both legs after being hit by a car outside her electorate office. Nine electorate offices have since been marked for security upgrades, and parliamentarians report growing numbers of threats.
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Xpeng Motors Australia expects to have 66 retail locations across every state and territory by the end of 2026. The mid-size L03 SUV, priced from $41,900 before on-road costs, is due in showrooms before year's end. The company says it has processed more than 1400 customer enquiries and resolved 250 cases linked to promotional offers from its former distributor, TrueEV. Customers who bought through TrueEV and were promised offers can contact Xpeng ANZ, which says it is backing its vehicles with seven-year, unlimited-kilometre warranties.
BYD's premium brand Denza says the Z9 GT electric wagon will not reach Australia until the first half of 2027. A spokesperson said the company is juggling priorities and does not want to launch simply to meet a date. Denza had earlier planned a launch in the third quarter of 2026. The Z9 GT has a claimed 0-100km/h time of 2.7 seconds and a 1036km electric range under the CLTC cycle. Pricing for the Australian market has yet to be announced.
Porsche Cars Australia is recalling 77 of its 911 and 718 sports cars made in 2023 and 2024. A manufacturing defect in the centre-lock wheel nuts may cause a wheel to loosen and detach while driving. The recall covers several 911 and 718 models from the 992 and 982 generations. Porsche will contact owners and ask them to book a free repair at an authorised Porsche Centre. The 911 was previously recalled in March 2025 over a seatbelt issue.
Complaints about the Australian Taxation Office have risen sharply as the agency ramps up debt collection. The Tax Ombudsman received 2376 complaints in the six months to September, up 74 per cent on the same period last year. The office said it received 1358 complaints over that period, because the ombudsman's figures also included matters not involving the tax office. The ombudsman found the tax office acted reasonably in 63 per cent of debt collection complaints it investigated. Outstanding tax debt stood at $54.2 billion in 2024/25, with $35.9 billion owed by small businesses.
Lotus Australia has issued a nationwide safety recall for 114 Lotus Elise sports cars made between 2014 and 2021. A manufacturing defect may deform the low-pressure fuel pump impeller, causing the fuel pump to fail and the engine to stall. The company warns that a sudden loss of power while driving may increase the risk of an accident causing injury or death. Owners will be contacted by their Lotus dealer to book a free repair appointment. The Elise was last recalled in 2020 over a fuel rail issue.
US stocks closed higher on Monday after two weeks of declines, with the S&P 500 and Nasdaq lifted by optimism around AI companies. Anthropic disclosed steep losses and rapid revenue growth in its filing for a US initial public offering. Semiconductor firms helped drive the gains, while Meta plans to raise up to $US95 billion in equity to fund its AI expansion. Investors are watching the Federal Reserve's policy statement on Wednesday and a busy week of earnings reports.
The cost of abandoning Snowy 2.0, Australia's largest renewable energy project, is still unknown. Snowy Hydro chief executive Dennis Barnes told a Senate estimates committee that the cost of ending the project has not been modelled. The company estimates completion will now cost between $22.2 billion and $25 billion, up from $12 billion in 2023. Barnes said replacing the project with batteries was modelled at $80 billion. Innovation Minister Tim Ayres said abandoning the project would be immensely costly and that the government would see it through.
Outdated technology and weak digital safety skills are the biggest threats to national cybersecurity, according to the latest Cyber Threat Report from the Australian Signals Directorate. The public sector recorded nearly half of the 1500 incidents reported to the Australian Cyber Security Centre in the past financial year. Director-general Abigail Bradshaw warned that service outages will likely become normal and urged companies to put security ahead of access. Medium-sized businesses reported a 45 per cent rise in cybercrime losses, with an average cost of $141,300.
One Nation MP Barnaby Joyce has criticised the government for failing to support thousands of people who lost savings in the $1.1bn collapse of the Shield Master Fund and First Guardian. Joyce said he gave his ex-wife $400,000 as part of their divorce settlement, and that money is now gone. He urged the government to pay victims their super so they can retire, rather than a partial compensation payment. A Choice podcast investigation says about 11,000 Australians lost retirement savings, and the Australian Securities and Investments Commission has 14 ongoing court actions against 31 people.
A Loch Ness Monster expert has written a guide on how to spot the creature. Adrian Shine, who founded the Loch Ness Project, says the monster exists and has explained how it can be seen in his new book. He believes Loch Ness lacks enough nutrients to support a large beast. He argues most sightings are wakes from large boats, which he links to the Caledonian Canal, built in the early nineteenth century. Broadcaster Robson Green said the expedition could neither prove nor disprove a creature's existence.
