UBS to buy Credit Suisse in US$3.2 billion rescue deal to end crisis
The government-brokered deal aims to prevent turmoil at Credit Suisse—worsened by two massive U.S. bank failures last week—from spiralling into a larger banking crisis.
Investing
4.45am starts: CEO Michael Saadie on family, business and leading NAB Private Wealth
Michael Saadie learned from an early age the value of hard work and the mantra to “never touch anything twice”.
Microsoft announces new AI-powered tools for its office apps
Built on OpenAI’s generative AI technology and one of the largest datasets comprising trillions of data points, Copilot can write emails, business proposals and meeting minutes.
Data of more than 300,000 Latitude Financial users stolen in cyber attack
Latitude Financial says it’s been hit by a ‘sophisticated and malicious’ cyber-attack.
Stripe raises US$6.5 billion at US$50 billion valuation – nearly half its peak
The payments processing giant has cut its valuation multiple times since its $95 billion high in early 2021.
Only the ‘first domino to drop’: Grim warning in wake of SVB collapse
US bank stocks shed tens of billions of dollars in market value as their nightmarish week continues.
Ryan Reynolds’ Mint Mobile acquired in eye-watering $2 billion deal
The actor will continue to serve as a spokesperson for the brand.
When 80,000 years of science meets emerging tech
As the founder of Australia’s first Indigenous edu-tech company, CEO Mikaela Jade has created a place where Indigenous cultures and critical technologies meet.
Who’s on top of the Australian wealth tree?
Mining magnates have dominated this year’s Australia’s 50 Richest list and a surprising number of them stem from only two families.
From doing your taxes, to sitting an exam: Here’s what GPT-4 is capable of
However, the new version of ChatGPT could have been a lot more contentious, the company admits and has instituted substantive new guardrails to prevent malicious answers.