Business

News on companies, industries, and corporate developments.

Business
NOVA Entertainment home of Diary of a CEO in Australia
NOVA Entertainment will become the new home of the world’s fastest-growing podcast, Diary of a CEO, after entering into an exclusive Australian partnership with FlightStory. This comes as NOVA Entertainment was chosen by FlightStory founder and Diary of a CEO host, Steven Bartlett to host all of FlightStory’s podcasts. Bartlett said he chose NOVA Entertainment after a rigorous Australian pitch process as he felt their values deeply align with FlightStory. “At FlightStory, brand partnerships aren’t transactional, they’re about shared growth. NOVA uniquely shares that philosophy,” he said. “This partnership creates an unparalleled opportunity for brands to deliver positive influence at scale - unlike anything that currently exists in the Australian market.” Diary of a CEO on its own has over 11 million YouTube subscribers, 25 million followers and 60 million monthly listeners, making it the world’s second biggest interview podcast and the flagship podcast of FlightStory. The podcast features long-form interviews with some of the world’s most influential people, like Michelle Obama, Simon Cowell, Trevor Noah, and Jimmy Fallon. NOVA Entertainment’s CEO, Peter Charlton said he was “incredibly proud” to see the comp
Business
Trading Floor: Compumedics, Drone Shield, Hansen all up
Azzet reports on three ASX stocks trading double-digits higher after notable trading updates today. Drone Shield rallies on news of new R&D ramp-up Shares in Drone Shield (ASX: DRO) were up 10.47% at the open after the counter drone technology company revealed plans to invest $13 million to triple the size of its current R&D facility. Due to open late in 2025, the company has taken out a multi-year lease and fit-out at Sydney's Alexandria which will become a brand new 3,000 sqm production facility. While there is no requirement for heavy machinery and similar capital expenditure investment, the new facility includes advanced in-house production, testing and warehousing capabilities. It’s hoped that a ramp-up of its R&D capabilities will further the company’s plans to expand its own annual production capacity to $900 million by mid-2026. With a combined total annual manufacturing capacity of $2.4 billion by the end of 2026, the company is planning to target a $2.34 billion and rapidly growing global sales pipeline including Europe, its fastest-growing export market. Today’s announcement follows some major wins for the company this year, including: $61.6 million European contract in June – it's the single biggest sin
Business
Bidders sweeten Abacus offer, get to look under hood
Undeterred by being rejected the first time around, a consortium has returned with a higher takeover bid for Abacus Storage King. Abacus has received a revised non-binding and indicative proposal from South African billionaire Nathan Kirsh and the world’s largest self-storage company Public Storage in a second attempt to buy out the minority interests owning 40% of the target company. Open to the new offer of A$1.65 (US$1.08) per stapled security as it represented a 15% premium to the first announced in April, the self-storage and removals company has agreed to open it is books to the determined bidders. Abacus said the revised proposal remained subject to a number of conditions, such as regulatory approvals from Australia’s Foreign Investment Review Board and the New Zealand Overseas Investment Office and some tax rulings. Abacus said its independent board committee intended to provide a six-week period of due diligence to the consortium to determine if it could come up with a proposal that was capable of being recommended to securityholders and implemented. Access to due diligence was subject to the parties agreeing appropriate non-disclosure and standstill arrangements. “At present there is no certainty that t
Business
Mental health claims overwhelm insurers: CALI
A near-doubling of insurance claims paid out for mental health-related issues compared to five years ago underscores what the Council of Australian Life Insurers (CALI) calls the urgent need to address an underlying health epidemic sweeping the nation. Given that insurers paid out more than $2.2 billion in retail mental health claims in 2024 – almost double the amount paid just five years ago - CALI is also questioning the sustainability of insurance products to support Australians with mental health issues. CALI argues that the nation’s financial safety net is being pushed to its limits, with more Australians leaving work permanently due to mental ill health than ever before. Mental ill health has become the number one cause of total and permanent disability (TPD) claims, now accounting for almost one in three (31%) claims paid; and one in five income protection claims is due to mental health - with insurers paying out more than $887 million in 2024 alone.Tipping pointAccording to CALI CEO Christine Cupitt, the entire safety net, not just life insurance, is under pressure. Cupitt points to the growing number of people, particularly younger Australians, leaving the workforce every year permanently due to mental health
Business
Azzet Unpacked: Markets react to rates, tariffs, moves
All the top moves, shakes and red hot takes from Azzet's editorial team are right here in your weekly business wrap every Friday (11 July, 2025). It was a financial news week filled with interest rate decisions, crippling tariffs, new political parties, bans, mergers, sell-offs, surveys, switches, sales, openings, partnerships, white-knuckle rallies, and rulings. Azzet's senior business team of Garry West, Mark Story and Cameron Drummond helped steer our coverage, along with finance journalist Oliver Gray and reporters on deck, Harlan Ockey and Chloe Jaenicke. And we begin our weekly wrap-up with an interest rate decision that surprised (mostly) everybody.Credit: Expect Best / PexelsDON'T BANK ON ITThe Reserve Bank of Australia (RBA) surprised financial markets on Tuesday by not cutting the official cash interest rate. The decision to leave rates unchanged was unexpected because the market had factored in a 25-basis point reduction to 3.60%. Rates may not fall by as much as in other countries, RBA Governor Michele Bullock said after the announcement. Meanwhile, Australian Treasurer Jim Chalmers stopped short of criticising the RBA’s split decision to keep interest rates on hold, but acknowledged it was a surprise for

Business
ASX trading: JLG soars, Ora Banda tanks, Ventia falls
Azzet reports on three ASX stocks with notable trading updates today. Johns LYNG Group soars on PEP’s confirmed buyoutShares in Johns LYNG Group (ASX: JLG) were up around 23% at the open to $3.90 following revelations that this building services giant is the next ASX large cap – sitting just outside the ASX300 – the destined fall into private ownership. The group has agreed to an attractive takeover deal that private equity group Pacific Equity Partners’ subsidiary Sherwood BidCo put on the table back in May. With the deed of implementation now signed, Sherwood will proceed to pay $4 per share – up 77% on the 17 May trading price, the day prior to the offering being made. Based on yesterday's close price of $3.18, the takeover offer represents a premium of 26%. The price values the group at $1.1 billion and implies an enterprise value of $1.3 billion. While management and staff can elect to receive some or all of their windfall in scrip, the group’s largest shareholder and CEO Scott Didier – who owns 17.64% - stands to receive a potential cash-scrip bonanza of $199.7 million. Didier is understood to have paid $2.30 per share to buy $250,000 worth of stock six weeks prior to the offer being made. The board has
Business
Liontown’s landmark lithium mine opens amid low price
After receiving a $15 million interest-free loan through the WA Government’s Lithium Industry Support Program, Federal Resources Minister Madeleine King and WA Mines Minister David Michael yesterday officially opened Liontown Resources' (ASX: LTR) Kathleen Valley lithium operation - Australia’s first underground lithium mine. With an ore reserve of 68.5 million tonnes at 1.34% lithium oxide and 120ppm tantalum pentoxide, the mine has enough reserves to operate for 23 years. However, the mine opening coincides with low lithium prices which have already resulted in two WA mines closing in the past nine months. While lithium was WA's second-biggest royalty earner behind iron ore in the 2023-24 financial year, generating $563 million for the state government, WA's 2024-25 royalty income from lithium was estimated at $208 million and a forecast $286 million for 2025-26. However, Tony Ottaviano managing director of Liontown expects the ongoing uptake of electric vehicles and home battery storage across the globe to underpin the project for decades. "There are many sources of demand. Everyone focuses on EVs, but stationary batteries we believe will be a huge growth area," Ottaviano said. "The price is so low at the mome
Business
Australia's biggest magazine publisher seeks a buyer
Australia’s biggest magazine publishing house, Are Media, has confirmed it is looking for a buyer. The publisher houses a number of titles including Better Homes and Gardens, Australian Women’s Weekly, Elle, Who, Women’s Day, New Idea, and TV Week. Are Media is owned by investment firm Mercury Capital. Mercury Capital also bought a number of New Zealand titles after acquiring them from Bauer Media for an estimated $40-50 million in 2020. “Further to recent speculation, and on the back of a number of market enquiries and approaches, we can confirm that a decision has been made to commence a sale process for Are Media, Australia’s leading omnichannel content company for women,” Are Media told Mumbrella in a statement. KPMG Corporate Finance has been engaged to run a formal sale process. Are Media was part of Mercury’s $60 million fund, which included ticketing, event promotion and technology company TEG. In an email to staff, Are Media CEO Jane Huxley confirmed the sale and described it as a strategic and confident step forward. “After careful consideration, Mercury and our Board have decided it’s time to begin the process of finding a new owner for the Are Media Group. This decision comes from a place of str
Business
Pentagon invests billions into domestic rare earths
America just made its boldest move yet to break China's stranglehold on magnetic rare earths (REE) materials, with the Pentagon purchasing US$400 million of MP Materials stock to become the miner's largest shareholder. The public-private partnership with the Department of Defense (DoD) represents a seismic shift in how the U.S. approaches critical mineral security. That's because MP Materials owns Mountain Pass - the only operational REE mine in the U.S. - ~60 miles outside Las Vegas and the sole domestic producer of materials essential for everything from F-35 fighter jets to EV motors. The deal creates a strategic alliance that MP Materials CEO James Litinsky describes as “decisive action by the Trump administration to accelerate American supply chain independence”. The timing couldn't be more critical for American and Western interests, as China currently controls >90% of global magnetic REE production and is weaponising them as part of an existential trade war crisis between the two superpowers - which Azzet has previously talked about. Find out more: Mission Critical: Why China can keep weaponising REEsA $10 billion manufacturing revolutionThe Pentagon investment will fund construction of MP's second U.S. ma