Top Australia Business and Tech News
Today in Australia, business news highlights include a moderate economic outlook with GDP growing by 0.6% last quarter and continuing market volatility, while the technology sector saw major updates involving AI enforcement, clean transport, and innovations in consumer tech.
Business News
- The ASX200 index declined by 1.1% last week amid ongoing September market volatility, with bond yields rising and investors anticipating another rate cut by the Reserve Bank of Australia in November.
- Australia’s GDP rose by 0.6% for the June quarter—slightly above expectations—mostly due to increased household spending from factors like expired energy rebates and recovery from flood damages in QLD and NSW.
- Upcoming business data releases today include government finance statistics and the monthly business turnover indicator, giving insight into post-flood business activity.
- The Asia Summit 2025 begins today in Sydney, where policymakers and business leaders are convening to address trade, technological transformation, and investment strategies in the Asia-Pacific region.
Technology News
- Australia’s eSafety Commissioner has taken enforcement action against a UK tech company for enabling AI-generated ‘nudify’ services, which facilitated deepfake image-based abuse among school children and breached the Online Safety Act.
- Federal and State Treasurers reaffirmed support for electric vehicle (EV) growth as part of Australia’s clean transport transformation.
- A Lilydale metal works business developed an innovative UV disinfection unit for shopping trolleys and baskets, partnering with local germicidal technology experts for improved public hygiene.
- Swinburne University announced a world-first project to develop an AI-based early warning system for individuals with bipolar disorder, pushing forward mental health technology.
- EOS Australia unveiled ‘Apollo,’ a scalable high-energy laser weapon, ahead of its showcase at DSEI UK, reinforcing Australia’s role in advanced defense technologies.
- Consumer tech saw new releases, including LG’s 37-inch 4K monitor with unique operating system features, new rugged smartphones for professionals, and further developments in AI chatbots, wearable tech, and Apple’s rumored upcoming launches.
Market & Finance
- The Reserve Bank of Australia maintains the cash rate at 3.60%, with bond yields increasing over the week (10-year yield at 4.34%), as investors remain uncertain about future rate cuts into 2026.
- The Australian dollar appreciated slightly against the USD, influenced by domestic and international economic data.
Regulatory & Policy Actions
- Stronger scrutiny and regulatory action are ongoing in the tech sector regarding child safety and AI ethics, as seen in the crackdown against deepfake technology. Policy support for clean-energy transport continues as the EV infrastructure expands in Australia.
These developments show Australia balancing economic challenges, regulatory action, and tech innovation on September 9, 2025.