Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
Australia Settles Lawsuit Over Climate-Related Systemic Risks to Sovereign Bonds
Aug 31 2023 // The Australian government has agreed to settle a class action lawsuit which alleged it had failed to disclose climate change-related risks to investors in the country’s sovereign bonds, court filings showed. The...
El Niño Likely to Develop Between Sept and Nov, Australian Weather Bureau Says
Aug 29 2023 // Australia’s weather bureau said on Tuesday that sea surface temperatures in the tropical Pacific were rising and an El Niño weather event, which typically brings hotter, drier weather, would likely develop between...
El Niño Expected Between September and November: Australian Weather Bureau
Aug 15 2023 // Australia’s weather bureau said on Tuesday the El Niño weather event, associated with hotter, drier weather, was likely to hit during the southern hemisphere spring, between September and November. El Niño,...
Australia’s Climate Risks Are Making Home Insurance Unaffordable
Aug 14 2023 // Australian home insurance premiums jumped the most in two decades in the past year, driven by weather catastrophes and higher building costs, new research showed. Median home insurance premiums surged 28% to A$1,894...
Australia Cracks Down on Promoters of Dodgy Tax Schemes After PwC Leak Scandal
Aug 7 2023 // Australia will drastically toughen penalties against promoters of dodgy tax schemes and beef up regulatory powers under reforms announced on Sunday in response to a scandal over the use of leaked fiscal plans by PwC...
Australia Fines Facebook Owner Meta $14M for Failure to Disclose Data Collection
Jul 26 2023 // An Australian court ordered Facebook owner Meta Platforms to pay fines totaling A$20 million ($14 million) for collecting user data through a smartphone application advertised as a way to protect privacy without disclosing...
Australia’s Fortescue Hit by Cyber Attack That Disclosed Some Network Data
Jul 19 2023 // Fortescue Metals Group Ltd. said it had been subject to a cyber attack that resulted in “the disclosure of a small portion of data from our networks.” The world’s fourth-largest iron ore exporter...
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...
