Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Tesla Sues Australia’s Cap-XX Over EV Battery Technology Patents
Jul 18 2023 // Tesla sued Australian company Cap-XX in Texas federal court on Friday, claiming its supercapacitors used for storing energy in electric-vehicle batteries infringe two U.S. patents owned by a Tesla subsidiary. Tesla CEO...
BMS Group Acquires Australia’s Bluebook Insurance Brokers
Jul 5 2023 // BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire Brisbane-based specialty broker Bluebook Insurance Brokers. The deal is the sixth Australian acquisition by...
Australia Regulator Tells Medibank to Set Aside $167M After Major Cyber Attack
Jun 27 2023 // Australia’s banking regulator told insurer Medibank on Tuesday it would have to set aside A$250 million ($167 million) in extra capital, citing weaknesses identified in its information security after a major hacking...
PwC Australia Asset Sale Unlikely to Repair Firm’s Tarnished Reputation: Experts
Jun 27 2023 // PwC Australia’s sale of its government consulting business may give it temporary respite from a crisis in its tax practice but is unlikely to repair its toxic brand in the country anytime soon, according to...
Private Equity Firm TA Associates Weighs Sale of Australian Insurance Broker Honan
Jun 14 2023 // Private equity firm TA Associates is exploring a sale of its stake in Australian insurance broker Honan Insurance Group Pty amid interest from other potential investors, according to people familiar with the matter. TA is...
Arthur J. Gallagher & Co. Acquires Australia’s Mavco Insurance Group
May 16 2023 // Arthur J. Gallagher & Co. announced the acquisition of Perth, Western Australia-based Mavco Insurance Group. Terms of the transaction were not disclosed. Mavco is a general insurance broker and risk management firm...
BMS Group Acquires Australian MGA GARD Insurance
May 2 2023 // BMS Group, the London-based independent specialist re/insurance broker, has acquired the Australian managing general agent GARD Insurance Pty Ltd., which includes ALE underwriting. The terms of the transaction have not...
Insured Losses for Southeast Australia Floods of October 2022 Rise to A$907M: PERILS
Apr 28 2023 // Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
BMS to Acquire Australian Broker Western United Financial Services
Apr 20 2023 // BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have...
Western Australia Assesses Damage From Cyclone Ilsa’s ‘Path of Destruction’
Apr 17 2023 // Emergency authorities in Western Australia were assessing damage on Saturday from a tropical cyclone that hit the state’s northwest, sparing heavily populated areas but affecting several remote communities. Ilsa,...
Western Australia’s Iron Ore Export Hub Reopens as Cyclone Moves Inland
Apr 14 2023 // The key iron ore export hub of Port Hedland reopened after the biggest cyclone to hit Western Australia in at least a decade made landfall, with a major gold mine facing destructive winds as the storm moves inland. Port...
Australia’s Iron Ore Export Hub Braces for Powerful Cyclone Ilsa
Apr 13 2023 // Australia’s northwest region, home to the world’s largest iron ore export hub, braced on Thursday for the area’s most powerful tropical cyclone in a decade, as a major port closed and residents rushed to...
Western Australia Could Be Hit by Biggest Cyclone in Almost a Decade
Apr 11 2023 // Western Australia could be hit by the largest cyclone in almost a decade this week, with the weather system predicted to cross the coast near a major export port for iron ore that’s to be cleared of vessels. Tropical...
Australia Is Inadvertently Inviting Cyber Crimewave, Data Theft Victim Service Warns
Apr 5 2023 // An Australian government-backed service for victims of identity theft blasted a plan to toughen privacy laws amid an explosion of online data theft, saying it would spur compromised companies to pay ransom and invite more...
Australia Regulator Questions Benefits of ANZ’s $3.3B Suncorp Buyout
Apr 4 2023 // Australia’s competition regulator said it was unconvinced a planned A$4.9 billion ($3.32 billion) buyout by Australia and New Zealand Banking Group Ltd. of a smaller rival would bring public benefits, in a blow to...
Australia Contractor Downer Faces Class Action Lawsuit for Misreporting on Contract
Apr 3 2023 // Australian contractor Downer said on Monday it faces a shareholder class action for allegedly making some misrepresentations and withholding certain information about a maintenance contract in its domestic utilities...
Regulator Tells Australian Banks to Boost Cyber-Attack Defenses
Mar 28 2023 // Australia’s financial institutions must improve their resilience to cyberattacks, the head of the nation’s banking regulator said Tuesday. A recent review uncovered a “lack of rigor” in the nature...
Australian Lender Latitude’s Shares Slump After Hack Details Emerge
Mar 22 2023 // Latitude Group Holdings Ltd. shares slumped as trading resumed for the Australian personal lender that disclosed details of a hack almost a week ago. The stock lost 16% as of 11:40 a.m. in Sydney trading. Hackers stole...
Australia’s Latitude Group and IPH Hit by Cyber Attacks, Continuing Wave of Hacks
Mar 16 2023 // Digital payments firm Latitude Group Holdings and intellectual property services provider IPH Ltd. reported data breaches on Thursday, joining a host of other Australian firms targeted by hackers in recent months. Some of...
Lockton Launches Affinity Biz in Australia, New Zealand and Pacific, Led by Dasgupta
Feb 20 2023 // Lockton, the world’s largest privately owned insurance brokerage, announced the launch of an Affinity Schemes business in Australia, New Zealand and Pacific. The business will be led by Tanya Dasgupta who recently...
