From renewed partnerships in the public sector to shifting investor sentiment in critical minerals, here’s a quick roundup of the biggest tech and business stories shaping Australia last week.
🧠 Tech News Highlights
1. Queensland ends 12-year IBM ban In a surprising reversal, Queensland lifted its 12-year ban on IBM—originally imposed after the $1.25 billion payroll system failure. The move signals a renewed willingness by state agencies to engage major tech vendors for digital modernisation projects.
2. Macquarie Bank embraces Google Gemini AI Macquarie Bank announced a major partnership with Google to roll out the Gemini AI suite, accelerating automation and data-driven decision-making across its banking operations. This reflects the broader trend of AI adoption in Australia’s financial sector.
3. iTnews Security Awards finalists revealed Finalists for the 2025 iTnews Benchmark Security Awards were announced, highlighting innovative approaches to cyber resilience and data protection within the Australian tech industry.
4. Oracle-linked hacking campaign hits over 100 firms Google disclosed that “likely over 100” Australian businesses were affected by a recent Oracle-linked hacking campaign, underscoring persistent vulnerabilities across enterprise systems and supply chains.
5. Revenue NSW to document AI risks Regulatory scrutiny continues to tighten, with Revenue NSW directed to formally assess and document AI-related risks, reinforcing the public sector’s growing accountability for responsible AI use.
6. DeepMind’s CodeMender AI strengthens software security Google DeepMind’s CodeMender tool delivered 72 upstream security patches in a single cycle, showcasing how AI is transforming software maintenance and vulnerability management.
💼 Business News Highlights
1. Rare earth stocks surge amid China export curbs China’s decision to tighten rare earth exports drove a sharp rally in ASX-listed rare earth producers such as Iluka Resources and Lynas Rare Earths, reigniting debates about supply-chain independence.
2. Gold prices fall after Middle East ceasefire A nearly 2% drop in gold prices hit major miners including Evolution Mining and Northern Star Resources, reflecting easing risk sentiment and a global shift toward equities.
3. Develop Global earns ‘top buy’ rating Develop Global Ltd received bullish analyst coverage following strong copper and zinc markets, positioning itself as a key beneficiary of rising demand for critical minerals.
4. Analysts back Pinnacle IM and REA Group Top market analysts upgraded Pinnacle Investment Management and REA Group to “buy” status, citing robust growth fundamentals and international expansion momentum.
5. ETF interest rises in small-cap diversification With uncertainty clouding the ASX, investors turned to ETFs such as Vanguard’s MSCI Australian Small Companies Index, seeking diversification and risk-balanced exposure to small and mid-cap equities.
📊 Market & Industry Trends
- ASX volatility continues, pressured by weakness in banking, energy, and mining sectors. Analysts debate whether upcoming dividend yields—forecast at a 30-year low—could rebound in 2026.
- Trade tensions with China persisted, affecting rare earth and resource markets, while some experts warned that stocks like Lynas Rare Earths and Tabcorp Holdings may be overvalued.
- AI-driven HR technology gained traction, with organisations such as Asahi Beverages and Western Health piloting automation tools to enhance workforce management and operational efficiency.
📰 The Bottom Line
Australia’s tech and business landscape continues to evolve through AI-driven transformation, renewed government-vendor relationships, and volatile commodity markets. As regulatory frameworks tighten and digital investments accelerate, both enterprises and investors are positioning for a data-centric, AI-enabled economy.