Harlan is a passionate researcher and writer with a Masters of Journalism from the University of Melbourne.

Harlan Ockey

Business

Markets

Economy

Politics

World

Real Estate

Technology

Wealth

Lifestyle

Travel

Phone startup Nothing has reportedly opened a major funding round as the company has crossed US$1 billion (A$1.6 billion) in sales and prepares to release new products.

The company’s annual revenue doubled in 2024, according to Bloomberg. Nothing said it has sold 7 million units across its product lines.

“Last year was pivotal for Nothing. It was all about scaling, and we succeeded as a team,” Nothing CEO Carl Pei said in a leaked memorandum this week.



Pei previously co-founded Chinese phone company OnePlus.

Nothing raised US$100 million in its last funding round in 2023. The company hopes its Series C round will raise at least another $100 million.

Nothing’s Phone, first released in 2022, features a transparent design and a set of lights on the phone’s back to indicate notifications.



It uses Android’s operating system. The company also produces wireless earbuds and smart watches through its sub-brand CMF.

The Nothing Phone (3) will be released in 2025, Pei said in the memorandum.

“It will introduce breakthrough innovations in user interface, taking our first step toward our AI-powered platform,” he said.

Nothing will launch a new phone in 2025’s first quarter, Pei said, but did not confirm wheth

Phone brand Nothing hits $1bn in sales, opens funding

Executive chairman of Amazon, Jeff Bezos’ Blue Origin has launched its New Glenn rocket, in the company’s first major venture into Earth’s orbit.

The spacecraft lifted off from Florida’s Cape Canaveral Space Force Station just after 2 AM, local time. New Glenn reached the Earth’s orbit, and sent up to six hours of data to Blue Origin from its experimental Blue Ring module.

“Today marks a new era for Blue Origin and for commercial space," said New Glenn senior vice president Jarrett Jones.



“We're focused on ramping our launch cadence and manufacturing rates,” Jones said. “My heartfelt thanks to everyone at Blue Origin for the tremendous amount of work in making today's success possible, and to our customers and the space community for their continuous support.”

While Blue Origin planned to recover the rocket’s booster by landing it on a ship in the Atlantic Ocean, the booster was destroyed re-entering the atmosphere.

New Glenn was initially planned to launch in December before being rescheduled to 10 January following regulatory approvals. Launch attempts on 10 and 13 January were halted due to poor weather.

The Blue Ring Pathfinder unit features communications and telemetry arrays, as well as a flight compute

Bezos' Blue Origin launches New Glenn rocket into orbit

Submarine deliveries to Australia under the AUKUS pact could be delayed, according to the United States Congress’ 2025 budget analysis.

Australia is due to receive at least three Virginia class submarines from the U.S. under AUKUS, with the U.S. supplementing its fleet with new Columbia class vessels. However, U.S. submarine production has fallen behind.

"The U.S. submarine industrial base is struggling to meet the Navy’s current demand for submarines,” said a Congressional Budget Office report. "It would be very difficult and expensive for the U.S. submarine industry to increase production of attack submarines while also building 1

Columbia class ship per year.”

Columbia class submarines are around 2.5 times the size of Virginia class vessels, and are significantly more difficult to build as a result. Costs to produce Columbia class ships could surpass the U.S. Navy and Congressional Budget Office’s previous estimates, the report said.

The U.S. aims to buy two Virginia class ships each year, according to the U.S. Navy’s 2025 shipbuilding plan, but this would only be sufficient to maintain the U.S.’ target number of submarines.

“This congressional budget office report states a hard truth, that any submarines the

AUKUS submarines may be delayed under 2025 US budget

Aston Martin has revealed its 2025 Vantage Roadster, a convertible successor to last year’s Vantage Coupe.

The vehicle boasts a lightweight design and the fastest fully automatic roof on the market, according to Aston Martin.

“The technical and dynamic capability of [2024 coupe] New Vantage delivered outstanding performance; far beyond any other preceding Vantage and it is now seen as a true class leading sports car,” said Aston Martin CEO Adrian Hallmark. “Vantage Roadster was no different feat in that it is a fully reinvented experience, with all the benefits of the Coupe and no compromise to refinement or performance through meticulous work by our engineering and dynamics teams.”

This year’s Vantage Roadster includes a 4.0-litre V8 twin-turbo engine, with 800 nanometres of torque. This is 115Nm more than the previous Roadster model.

The vehicle can accelerate from 0 to 60 miles per hour (97 km/h) in 3.5 seconds, and has a top speed of 202 miles per hour (325 km/h).

The convertible’s roof can be opened or closed in just 6.8 seconds, at speeds up to 50 km/h. When open, the roof is stowed behind the seats.

The Roadster features a multi-screen entertainment system with internet connectivity, and an Aston Martin-ma

Aston Martin lifts the roof on its new Vantage Roadster

SpaceX will launch its seventh Starship test flight on Thursday, which will test its payload deployment abilities.

The spacecraft will lift off from SpaceX’s Starbase facility in southern Texas after 4 pm, local time. It will release 10 simulators of a similar size to Starlink satellites, a test for future satellite launch missions.

“The upcoming flight test will launch a new generation ship with significant upgrades, attempt Starship’s first payload deployment test, fly multiple reentry experiments geared towards ship catch and reuse, and launch and return the Super Heavy booster,” according to SpaceX.

The Starship craft will fly for around one hour before splashing down in the Indian Ocean, along with its satellite simulators.

The launch will reuse the Super Heavy booster from SpaceX’s fifth Starship flight, which was caught after its launch with a pair of large metal pincers and returned to the Starbase facility. SpaceX also aims to catch the booster after Thursday’s flight.

Starship has been redesigned since its previous launch, and will include a new flight computer and communications antennas built for Starlink and GNSS.

The spacecraft will stream more than 120 megabits per second of real-time video and fli

SpaceX to launch seventh Starship with satellite test

Citigroup’s net income and revenue in 2024 bested expectations, with strong growth in 2024’s fourth quarter.

Its net income in 2024’s fourth quarter was US$2.9 billion (A$4.66 billion), compared to a net loss of $1.8 billion in 2023’s Q4. Citigroup’s total net income in 2024 reached $12.7 billion.



“2024 was a critical year and our results show our strategy is delivering as intended and driving stronger performance in our businesses,” said Citi CEO Jane Fraser. "We entered 2025 with momentum across our businesses and we continue to strengthen our ability to serve our clients.”

The company surpassed its 2024 revenue target, according to Fraser.



According to Citigroup, its net income growth was due to higher revenues, lower expenses, and lower cost of credit. Citigroup’s total revenue in 2024 was US$81.1 billion, compared to $78.5 billion in 2023.

The company reported earnings per share of US$1.34, up from -$1.16 year-over-year. LSEG analysts estimated this would reach $1.22 per share.

Its total operating expenses were US$13.2 billion, down 18% from the same period in 2023.

Revenue from its banking and markets sectors grew the most, at 27% and 36% year-over-year. The only sector to see a decline in revenu

Citigroup posts strong 2024 earnings, net income up

A benefit concert, known as FireAid, will be held at California’s Intuit Dome to raise relief funds for those affected by the Los Angeles wildfires.

FireAid will take place on 30 January, and will be produced by the family of music magnate Irving Azoff in partnership with Live Nation and AEG Presents. Participating performers are yet to be announced.

“Proceeds from the concert will go towards a 501(c)(3) created for this event that will focus on rebuilding infrastructure, supporting displaced families, and advancing fire prevention technologies and strategies to ensure L.A. is better prepared for fire emergencies,” according to Live Nation.

Irving Azoff and son Jeffrey Azoff manage artists including U2, Harry Styles, and Cardi B, though these clients have not confirmed a performance at FireAid. Azoff is the CEO of Azoff MSG Entertainment, and was previously the CEO of Ticketmaster and executive chair of Live Nation.

The Intuit Dome, in Inglewood, California, seats 18,000. It hosts the NBA’s Los Angeles Clippers, as well as major concerts.

The Recording Academy, host of the Grammy Awards, and its MusiCares charity have also pledged US$1 million to fire relief efforts.

“The music community is being so severely impa

Azoff, Live Nation plans FireAid gig for LA fire relief

The United States' Securities Exchange Commission (SEC) has filed a lawsuit against Elon Musk, saying Musk did not correctly disclose his stake in Twitter in a bid to stop its share price from increasing.

Musk acquired Twitter, now known as X, in October 2022. According to the SEC, Musk owned more than 5% of common stock by March of that year, but did not disclose this to the SEC within 10 days as required.

“On April 4, 2022, eleven days after a report was due, Musk finally publicly disclosed his beneficial ownership in a report with the SEC, disclosing that he had acquired over nine percent of Twitter’s outstanding stock,” according to the SEC’s legal complaint. “That day, Twitter’s stock price increased more than 27% over its previous day’s closing price.”

The SEC has alleged that Musk purchased more than US$500 million worth of Twitter shares during the eleven days between the agency’s disclosure deadline and his eventual filing.

“In total, Musk underpaid Twitter investors by more than US$150 million for his purchases of Twitter common stock during this period,” the SEC said. ““Investors who sold Twitter common stock during this period did so at artificially low prices and thus suffered substantial economic harm.”

US SEC sues Musk for Twitter 'disclosure violations'

Shipping company Wellard will sell its last remaining ship for $81 million as it considers delisting from the ASX.

The Ocean Drover, a 176-metre vessel that Wellard says is the world’s second-largest purpose-built livestock carrier, will be sold to a Turkish agribusiness company.

“We believe that this sale represents the highest possible value that can be realised for shareholders from the Ocean Drover in the current market,” said Wellard executive chairman John Klepec.

“Subject to shareholder approval, the sale of the Ocean Drover will bring to an end Wellard's 46-year involvement in the global live export industry.”

The sale is expected to be complete in July. Its profits will be returned to shareholders.

Wellard’s board will also consider delisting the company from the ASX, pending shareholder approval. The company initially listed on the ASX in 2015 for $556 million.

The company’s sole remaining source of potential income will be possible compensation from a pending class action suit.

Wellard said in 2018 that it was focussing on chartering vessels rather than trading livestock, after reporting repeated losses.

It began selling its vessels in 2017, and most recently sold the Ocean Ute in July 2024.

W

Wellard sells last remaining ship, considers leaving ASX

Australia’s government is “making urgent inquiries” with Russian officials after an Australian fighting for Ukraine was reportedly killed in Russian custody.

Oscar Jenkins, from Melbourne, was reportedly captured in Ukraine’s eastern Donbas region in December. A video released by a Russian journalist appeared to show Jenkins being interrogated and beaten by Russian soldiers.

The government is “making urgent inquiries following reports of Oscar Jenkins’ death”, a Department of Foreign Affairs and Trade (DFAT) spokesperson said. “These reports have not been verified, but we continue to have grave concerns for Mr Jenkins’ welfare.”

“My thoughts are with Mr Jenkins’ family. They’ve lived with a fear and uncertainty of a loved one in the middle of a foreign war for many months,” said Foreign Minister Penny Wong.

A report by 7News yesterday said Jenkins’ body had been found in Ukraine.

DFAT said it had summoned Russia’s ambassador to Australia on Monday to ask for information on Jenkins and reiterate Russia’s obligations to comply with international law.

“The Russian Federation is obligated to treat all prisoners of war in accordance with international humanitarian law,” said a DFAT spokesperson.



Coalition Senat

DFAT looks into Australian allegedly killed in Ukraine

Harlan is a passionate researcher and writer with a Masters of Journalism from the University of Melbourne. | Azzet™

Harlan Ockey

Phone brand Nothing hits $1bn in sales, opens funding

Bezos' Blue Origin launches New Glenn rocket into orbit

AUKUS submarines may be delayed under 2025 US budget

Aston Martin lifts the roof on its new Vantage Roadster

SpaceX to launch seventh Starship with satellite test

Citigroup posts strong 2024 earnings, net income up

Azoff, Live Nation plans FireAid gig for LA fire relief

US SEC sues Musk for Twitter 'disclosure violations'

Wellard sells last remaining ship, considers leaving ASX

DFAT looks into Australian allegedly killed in Ukraine

News

AZZET

Companies

Support

Listings

Executives

Education

Insights