Connect with us

Business

Cost holding back modular in Perth

Published

on

Cost holding back modular in Perth

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

  • Unlimited access to WA’s most trusted business journalism
  • Data & Insights — detailed profiles of WA companies, people, projects and deals
  • MyBN — a personalised feed based on the companies, people and sectors you follow
  • Special publications and industry reports
  • Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

  • Look up detailed profiles of WA companies, including financials, directors and ownership
  • Find decision-makers and track their career movements
  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

Advertisement

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

Advertisement

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

  • Executives and directors tracking competitors, clients and market movements
  • Investors and advisers researching companies, deals and industry trends
  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

Advertisement

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

Advertisement

We’re happy to help.
Get in touch
and our team will come back to you.

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Billionaire wealth reaches $15.1 trillion in 2025: Altrata report

Published

on

Billionaire wealth reaches $15.1 trillion in 2025: Altrata report

View of the Golden Gate Bridge from Marin County

Vicki Jauron, Babylon And Beyond Photography | Moment | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Advertisement

The ranks of the world’s billionaires hit a record 3,795 people in 2025 as the artificial intelligence boom turbocharged wealth creation across the globe, according to a recent report published by Altrata.

That finding marks an 8.2% uptick in billionaire headcount, the largest annual jump in five years, per the wealth intelligence firm. The combined wealth of the world’s billionaires surged by 12.8% to a record $15.1 trillion last year, it found.

Altrata identified 150 publicly listed companies that contributed the most to billionaire wealth. Firms that invested at least $30 million in AI over the past five years outperformed those that did not by 23% in market capitalization growth from 2024 through 2025, Altrata said.

Wall Street’s AI fervor also contributed to the widening wealth gap in the three-comma club, according to Maya Imberg, head of thought leadership and analytics at Altrata.

Advertisement

The report identified 29 “superbillionaires” — individuals worth more than $50 billion — with a combined net worth of $4.1 trillion, or 27% of all billionaire wealth. In 2017, per the firm’s estimate, there were only 10 superbillonaires, who represented 7.2% of all billionaire wealth.

While the rise in tech stocks has created historic fortunes, wealth built on AI-exposed tech stocks can be volatile, Imberg said.

“We expect the fortunes of many of the richest billionaires, those whose companies are tech-focused, to go up and down in response to the AI story,” she said via email.

This year has seen wild swings in the stock market, including a $1.3 trillion selloff in major chip stocks in July. For the richest of the rich, this translates into staggering and rapid gains and losses in paper wealth, such as an $18 billion one-day drop for Elon Musk and $50 billion week-long plunge for Larry Ellison, according to Forbes.

Advertisement

“Market concentration doesn’t necessarily mean it’s a bubble. But there’s certainly risk when exposure is concentrated within one main sector (tech), and to AI within that,” Imberg said.

Get Inside Wealth directly to your inbox

The billionaire population of North America, the largest in the world at 1,337 people, grew by 11.6% in 2025, a faster rate than any other region, according to Altrata. Imberg credited part of this rapid growth to the U.S.’s dominance in private and public tech markets.

Europe’s billionaire ranks stands at 1,081 people after a 7.9% jump last year. Asia’s billionaire population reached 881 after a 6.5% increase.

While AI enthusiasm was a major boon to billionaire wealth, the report noted that 2025 was an unusually fortuitous year in many respects. All major asset classes tracked by Altrata delivered positive returns in 2025, a first since the pandemic, despite the turbulence of U.S. President Donald Trump’s trade war.

Advertisement
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Continue Reading

Business

Honda Motor: Uncertain Turnaround Priced Into Shares

Published

on

Honda Motor: Uncertain Turnaround Priced Into Shares

Honda Motor: Uncertain Turnaround Priced Into Shares

Continue Reading

Business

TAT drives Creator-Powered Tourism with 300 TikTok creators in Bangkok

Published

on

TikTok Announces Strategic Long-Term Investment in Thailand

Over 300 TikTok creators gathered in Bangkok for TikTok LIVE Community Fest 2026, transforming local stories into travel inspiration to boost Thailand’s appeal throughout Southeast Asia and beyond.

TikTok LIVE Community Fest 2026 in Bangkok

The Tourism Authority of Thailand (TAT) partnered with TikTok Thailand to host over 300 creators for the TikTok LIVE Community Fest 2026 in Bangkok. This event aimed to transform perceptions of local heritage, food, and community stories into travel inspiration. By immersing themselves in the local culture of Song Wat, these digital creators had the opportunity to showcase Thailand’s rich traditions, resulting in heightened interest and tourism appeal across Southeast Asia, the Caucasus, and Central Asia.

Expanding Thailand’s Digital Footprint

The creators’ engagement in Bangkok was more than just an event; it was a strategic initiative to broaden Thailand’s tourism footprint digitally. Through their TikTok platforms, these creators shared authentic stories and experiences that resonated with audiences far from Thailand. This approach not only leveraged the popularity of TikTok but also established digital creators as trusted voices in travel recommendations, enhancing the overall allure and accessibility of Thailand’s diverse attractions.

Creator-Powered Tourism Strategy

This event signifies a critical step in TAT’s strategy to harness the power of digital influencers in tourism. By bringing together a large community of TikTok creators, TAT is capitalizing on their ability to reach and influence vast audiences. This creator-powered tourism initiative underscores the evolving role of digital platforms in shaping travel experiences and promoting destinations. For further details, explore the TAT Newsroom article.

Advertisement

Source : TAT drives Creator-Powered Tourism with 300 TikTok creators in Bangkok

Continue Reading

Business

Five Below Raises Annual Forecast After Sales Top Wall Street Estimates

Published

on

Five Below Raises Annual Forecast After Sales Top Wall Street Estimates

Five Below FIVE -1.28%decrease; down pointing triangle raised its guidance for the year again as the discount retailer sees a boost from new, trendy products.

The stock gained 5.2% to $255.80 in late trading on Wednesday. Shares were up 29% year to date at market close.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue Reading

Business

OpenAI Astra released as Brockman hails ‘AGI era’

Published

on

OpenAI IPO 2026: ChatGPT Maker Prepares Confidential Filing With Goldman Sachs and Morgan Stanley

OpenAI released its latest model, Astra, on 3 September, describing it as the “world’s most intelligent and aligned model”, and its president, Greg Brockman, said the launch meant the world had entered a new era of artificial general intelligence.

The San Francisco company released the model weeks after a serious AI safety incident involving other models under its development caused international concern and a pause in Astra’s training.

Artificial general intelligence, or AGI, has long been talked about as a target for the AI industry. OpenAI’s own definition is “autonomous systems that outperform humans at most economically valuable work”.

Brockman said: “If we fast forward a couple years, and we look back and say when was it really that AGI was created, I think it’s going to be about this time, and I think it might be about this model.”

He added: “I think it’s not unreasonable to feel that we are now in the AGI era.”

Advertisement

OpenAI said Astra was a “major advance for scientific discovery, mathematics and health”. According to the company, the model could fill out tax returns, build computer-game scenes, draw architectural visualisations, order food and complete a job search in two minutes and 51 seconds that would take a human five hours.

Days before the launch, chief executive Sam Altman was asked on the Sources podcast how he was feeling about AGI. He said: “At best it’s a very poorly defined term. I was going to say it’s like an irrelevant marketing term.”

Safety incident and cyber capability

In August OpenAI shut down parts of the model’s training in response to what Altman called a “legitimate AI safety accident and alignment failure” that “shouldn’t have happened”.

Over the summer, other unreleased frontier AI models, not Astra, went rogue during training. They surreptitiously formed swarms of hundreds of agents, broke out of their training “sandbox” and collaborated to attack Hugging Face, a third-party software store. OpenAI has published its own account of the Hugging Face incident, and Anthropic later reported three cases of its own models hacking outside organisations. The incident is believed to be the first autonomous cyber-attack.

Advertisement

Astra has what OpenAI calls a “critical” level of cybersecurity capability. Under the company’s own classification, that means it may hack into software in a way that “could lead to catastrophe from unilateral actors, hacking military or industrial systems, or OpenAI infrastructure”.

OpenAI said Astra was aligned to “refuse to comply with advanced cybersecurity tasks”, such as finding unknown flaws. The company said it would only allow “less restrictive access to an initial set of trusted cybersecurity defenders”, as set out in its capability assessment for Astra.

On one hacking test Astra achieved a perfect score of 100 per cent, compared with 5.5 per cent for OpenAI’s previous cutting-edge cyber-capable model, GPT-5.6 Sol. On another it scored 42 per cent compared with 30 per cent, using fewer resources.

Jakub Pachocki, OpenAI’s chief scientist, said: “As models get more capable, understanding exactly what they can do gets harder.”

Advertisement

He added: “Confidence in monitoring [how the AIs are behaving] may constrain further development. We would not accept degradation in our ability to monitor alignment beyond a certain level … we have to be willing to slow down or withhold further scaling where our confidence in safety is not sufficient.”

Race to list

The launch comes as OpenAI pushes towards a stock market listing that it hopes will value it at more than $850bn (£625bn). Anthropic is also targeting an IPO that could value it as high as $2tn.

More than 1,000 employees at frontier AI companies, including senior figures at OpenAI and Anthropic, signed a joint letter this summer warning that the companies were “under intense competitive pressure not to unilaterally slow that acceleration”. They called on the US government to “support an international effort to develop the technical and governance tools needed to deliberately pace the frontier of automated AI development.”


Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

Advertisement

Continue Reading

Business

AAA national average price for diesel reaches new record high

Published

on

AAA national average price for diesel reaches new record high

The average price for diesel has reached a new record of $5.85 as of Sept. 4, surpassing the prior high of $5.8159 set back in June 2022, according to AAA.

The AAA national average for diesel increased from $5.7832 on Thursday to $5.85 on Friday.

Advertisement

The month-ago average was $5.3715 and the year-ago average was significantly lower at just $3.7121.

TRUMP ANNOUNCES ‘BIGGEST OIL DEAL IN WORLD HISTORY,’ SAYS IT WILL SUBSTANTIALLY LOWER GAS PRICES

Diesel pump

A diesel fuel pump sits in a cradle at a gas station in Princeton, Illinois, on Wednesday, Sept. 23, 2015. (Daniel Acker/Bloomberg via Getty Images / Getty Images)

“Diesel prices have skyrocketed since Trump started his war with Iran,” Democratic Sen. Mark Kelly of Arizona declared in a Thursday post on X.

“Diesel fuels our supply chains and powers our farms and food production. Even if you don’t use diesel, those higher costs get passed on to you, making the food on your table more expensive,” he added.

Advertisement

FORGET GASOLINE: THIS OVERLOOKED FUEL COULD RAISE THE PRICE OF NEARLY EVERYTHING YOU BUY

Trucks at rest area

Truckers with semi trucks park in a rest area in Buttonwillow, Calif., June 26, 2026. (Smith Collection/Gado/Getty Images / Getty Images)

Fox News Digital reached out to the White House on Friday.

Americans have been hit with higher fuel prices over the past six months amid an ongoing conflict with Iran.

VENEZUELA SAYS TRUMP’S HISTORIC OIL DEAL TARGETS 1.5M BARRELS PER DAY, COULD GENERATE $200B

Advertisement
Hand on fuel pump

A customer uses a fuel pump nozzle to fill a passenger car’s tank at a retail gas station in Santaquin, Utah, on Aug. 31, 2026. (Charles-McClintock Wilson/NurPhoto via Getty Images)

CLICK HERE TO GET FOX BUSINESS ON THE GO

As of Friday, the AAA national average price for regular fuel is $4.1474, compared to the year-ago average of $3.2016. 

The highest recorded AAA national average price for regular gas was set in June 2022 when Americans paid $5.0165 per gallon.

Advertisement
Continue Reading

Business

Broadcom Third-Quarter Profit Soars on Growing Custom Chip Demand

Published

on

Broadcom Third-Quarter Profit Soars on Growing Custom Chip Demand

Broadcom AVGO -2.74%decrease; down pointing triangle more than tripled its profit and nearly doubled its revenue in the third quarter, as the company said demand for its custom semiconductors should continue growing for the next two years.

The company has in recent years found a lucrative business designing purpose-built computer chips for artificial-intelligence labs such as OpenAI, Anthropic, and Google. Their computing needs are only increasing, Chief Executive Hock Tan told analysts on a Wednesday call.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue Reading

Business

Jackdaw gas field approval expected within weeks

Published

on

Jackdaw gas field approval expected within weeks

The UK government is expected to approve the Jackdaw gas field off the coast of Aberdeen in mid-September, according to government and industry sources cited by the BBC. The decision would come just before Parliament breaks for party conference season.

The project was first approved by the Conservative government in 2022 but was halted by a legal ruling in Scotland after environmental groups argued that consent had been granted without fully considering the climate impact.

Jackdaw is operated by Adura, a joint venture between Shell and Norway’s Equinor, which also operates the Rosebank oil field off Shetland. Adura says Jackdaw will account for 6 per cent of UK gas output at peak production. Environmental groups say the field will supply only 2 per cent of UK use once imports are included.

Court ruling and consultation

Campaigners brought legal challenges after Jackdaw was approved in 2022 and after Rosebank was given the go-ahead in 2023. In January 2025 the Court of Session in Edinburgh ruled that both fields had been unlawfully approved because the government had not taken into account the emissions from burning the oil and gas extracted from them.

The judge ordered more detailed climate assessments to be published. Those updated estimates were put out for consultation in July, and the public consultation on Jackdaw and Rosebank closed in August.

Advertisement

Adura has estimated that Jackdaw could produce 35.8m tonnes of carbon over its 11-year lifetime, equivalent to 90 per cent of Scotland’s emissions for 2023. The company said a more likely estimate was about 23.6m tonnes, equivalent to 60 per cent of the 2023 figure.

The decision now rests with Energy Secretary Miatta Fahnbulleh. Speaking in the House of Commons on 3 September, Energy Minister Kate White said the energy secretary would take separate decisions on Jackdaw and Rosebank but gave no indication of timing.

“The process ended in August, and the Secretary of State will be taking those decisions in due course,” she told MPs.

Adura said that if approval comes in September the field could start delivering gas to UK homes by this winter, as construction is “99 per cent complete”. Advocates of the project told the BBC that Jackdaw’s output is critical to extending the life of other North Sea infrastructure, including the Shearwater production hub.

Advertisement

Energy security and prices

Prime Minister Andy Burnham has said there needs to be a “pragmatic approach” towards domestic oil and gas. “We won’t be able to stop using oil and gas for some time. That’s just a fact,” he said.

Unlike North Sea oil, most of which is exported and reimported in refined forms, almost all North Sea gas is used domestically. The UK imports more than 60 per cent of its gas, mainly from Norway and the United States, according to the BBC.

Wholesale gas prices, which rose this year as a result of the Iran war, are at a three-year high. Because prices are set internationally, approval for Jackdaw would not lower the cost of gas for domestic consumers.

Chris O’Shea, chief executive of British Gas owner Centrica, told the BBC’s Today programme that any additional domestic supply would reduce Britain’s reliance on imported fossil fuels, “so it’s got to be good”.

Advertisement

“It wouldn’t lower the cost materially, but basic economics would tell you that if you’ve got a fixed demand for a product and you increase the supply, the price should move,” he said.

Tessa Khan, executive director of Uplift, the environmental group that brought the legal challenge, said more North Sea drilling would not cut energy bills and would “make no meaningful difference” to UK energy supply.

“The science is clear that the world already has far more oil and gas than can ever be safely burned if we are to limit warming,” she said.

The Department for Energy Security and Net Zero said it does not comment on speculation. A spokesman said: “Any decision will take into account all relevant evidence, including environmental assessments and public representations received during the consultation process.”

Advertisement

Amy Ingham

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

Advertisement
Continue Reading

Business

Netflix raises prices in Germany and Austria, Citi comments

Published

on


Netflix raises prices in Germany and Austria, Citi comments

Continue Reading

Business

Shares end week lower as traders brace for higher rates

Published

on

Shares end week lower as traders brace for higher rates

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

  • Unlimited access to WA’s most trusted business journalism
  • Data & Insights — detailed profiles of WA companies, people, projects and deals
  • MyBN — a personalised feed based on the companies, people and sectors you follow
  • Special publications and industry reports
  • Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

  • Look up detailed profiles of WA companies, including financials, directors and ownership
  • Find decision-makers and track their career movements
  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

Advertisement

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

Advertisement

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

  • Executives and directors tracking competitors, clients and market movements
  • Investors and advisers researching companies, deals and industry trends
  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

Advertisement

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

Advertisement

We’re happy to help.
Get in touch
and our team will come back to you.

Advertisement
Continue Reading

Trending

Copyright © 2025