News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from Nov 9 till the end of the week.
This article updates throughout the week.

Grinchflation Bites Aussie Christmas Budgets

Perth, Nov 9: One in four Australians will buy fewer presents this Christmas as cost-of-living pressures squeeze household budgets, new research shows.
Finder’s Shopping Report 2026 found 61 per cent of Australians, or about 13.3 million people, plan to take at least one step to manage the cost of holiday shopping.
Cutting back on gifts was the most popular strategy (26 per cent). It was followed by setting a strict budget (22 per cent) and spending less on groceries and essentials (19 per cent).
Another 15 per cent plan to take on extra work. Thirteen per cent intend to use buy now, pay later or a credit card they would not normally use.
Finder personal finance expert Sarah Megginson warned against borrowing to fund the festive season.
“The presents might be unwrapped by December 25, but the repayments can hang around long after the decorations come down.
“The best gift you can give yourself this Christmas is a January you can afford.”
The findings are based on a survey of 1,006 Australians in October 2026.

LGT Wealth Appoints Frank Macindoe

Perth, Nov 9: LGT Wealth Management Australia has hired Frank Macindoe as Partner, Investment Adviser. He started at the firm on 2 November.
Macindoe has more than 20 years of private wealth management experience. He joins from senior advisory roles at Koda Capital and JBWere, where he spent 16 years advising individuals, families and not-for-profit organisations.
Before moving into wealth management in 2002, he spent 20 years in commercial law. From 1989 to 2001 he was a partner at Blake Dawson, now Ashurst, where he led the Project and Structured Finance Group.
He has also held director roles with SCEGGS Darlinghurst, Belvoir Street Theatre and Crimestoppers NSW. For more than a decade he was a trustee of the Goldman Sachs & JBWere Super Fund.
LGT Wealth Management chief executive Michael Chisholm welcomed the appointment.
“Frank brings a rare combination of investment expertise, commercial judgement and governance experience. He has advised clients through a range of market environments and understands the complex decisions that families, family offices and for-purpose organisations need to make over time,” Chisholm said in a statement.
LGT Wealth Management is wholly owned by the LGT Group, which is backed by the Princely Family of Liechtenstein.

Teenpreneur Tees Up Golf App

Perth, Nov 9: Brisbane entrepreneur Henry Coward has launched his second start-up at 18: a golf app that films and edits on-course shots into shareable videos.
Clippar records players’ shots from a phone attached to their golf bag. It identifies the swing, traces the ball, trims unneeded footage and compiles each round into a highlights reel with scorecard overlays.
“Plenty of golf apps track your round, but few capture it. Clippar is designed to make filming a round straightforward, giving everyday golfers an easy way to record their highlights, whether they’re chasing a personal best, enjoying a weekend game with friends, or looking to improve their swing,” Henry said.
He founded his first business, toll cashback service Tollz, at 14 using $1000 in prize money from a University of Queensland competition. He grew it to more than $100,000 in online sales in 18 months and sold it at 16.
Now studying finance and economics at UQ, he has received almost $50,000 in business scholarships plus $15,000 from UniQuest’s accelerator program. He taught himself the basics of coding with AI to build the app.
Clippar is available in the app store with a free seven-day trial.

AI Agent Mesh Hits Taiwan

Perth, Nov 9: A lone hacker in Taiwan used a network of 12 AI agents to target hundreds of organisations in 11 countries, including emergency services, banks, universities and military systems, cybersecurity researchers say.
Acronis Threat Research Unit said the operator, based in Hualien City, ran the campaign dubbed BOSSAI. Data was confirmed stolen from about 10 targets across Taiwan, Thailand and Mexico.
In Taiwan, the agents accessed a Taipei fire department platform holding 2018 patient-care records, including ECG readings and ambulance video, and pulled case records from a city’s 119 emergency dispatch system. Three Thai universities had student or administrator data extracted. In Mexico, the agents compiled about 206,800 residential phone records with names and addresses.
Researchers said commercial AI models repeatedly refused to carry out attacks, forcing the operator to rely on less capable, locally run models with their safety controls stripped out. Those models often produced errors, including fabricated vulnerabilities.
One commercial model told the operator: “‘Giving commands’ does not equal ‘authorization.’”
The researchers said the attacks largely succeeded only where systems were already poorly protected, and failed where defences held.

NSW Tourism Awards Winners Named

Perth, Nov 9: Seventy-three tourism businesses were honoured at the 2026 NSW Tourism Awards at ICC Sydney on Monday night, with Gold, Silver and Bronze awards presented across 30 categories.
Regional operators dominated, taking 19 of the 30 Gold awards, 10 of them on the North Coast.
Sierra Escape and Mt Hay Retreat were inducted into the Hall of Fame after winning Gold three years running,from 2024 to 2026. Taronga Western Plains Zoo director Steve Hinks received the Outstanding Contribution by an Individual award.
Accessible tourism was a highlight, with seven finalists in its category, the most in recent years.
NSW Tourism Association chief executive Natalie Godward said: “There is so much more to running a successful tourism business than what people see when they visit. Behind every great experience are people who work incredibly hard, who care about what they do and who are constantly looking for ways to make their business better.”
Tourism Minister Steve Kamper said: “The NSW Tourism Awards set a high bar, and every winner should be very proud of what they have achieved.”
Eligible Gold winners will go on to compete at the Australian Tourism Awards in Geelong on 19 February 2027.

Major Banks’ Profit Hits $31.2b

Perth, Nov 9: Australia’s major banks lifted their combined profit after tax 4.7 per cent to $31.2 billion in FY26, despite slowing economic conditions, according to KPMG’s annual results analysis.
CBA again led with a $10.9 billion profit, while ANZ recorded the biggest jump, up 23 per cent to $7.3 billion. NAB’s profit fell 9 per cent to $6.2 billion and Westpac’s slipped 1.5 per cent to $6.8 billion.
Return on average equity rose 40 basis points to 11.1 per cent, and the average cost to income ratio improved to 50.5 per cent. Lending grew 5.4 per cent to $3.7 trillion, led by a 12.2 per cent jump in business lending.
Technology spending rose 15.8 per cent to $11.4 billion as banks invested in AI, automation and scam protection.
Signs of credit stress emerged, with impairment charges up 56 per cent. NAB’s charge almost doubled to $1.5 billion.
KPMG’s national financial services leader David Akers said: “As inflation and elevated interest rates continue to work through the economy, the key question for the sector will be how long households and businesses can continue to adapt to cost pressures before they translate into pronounced changes in lending activity and credit quality.”

Is Your Boss Paying Your Super?

Perth, Nov 10: One in five Australians say an employer has not paid their superannuation correctly, according to new research from comparison site Finder.
The survey of 1,011 people, conducted in July 2026, found 8 per cent said an employer had never paid their super at all. Another 7 per cent said they had been paid the wrong amount, 6 per cent said an employer had missed multiple payments, and 4 per cent said an employer had missed a single payment.
Almost one in five (18 per cent) admitted they had never checked whether their super was being paid correctly.
Finder money expert Richard Whitten said missing super could go unnoticed for years.
“Super is part of your pay. It isn’t a perk or an optional extra,” he said.
“When employers fail to pay super correctly, workers are missing out on years of potential investment growth that could make a substantial difference to their retirement savings.”
He urged workers to check their payslips and super statements regularly.
“If something doesn’t add up, it’s important to act quickly and investigate what you may be owed.”

Disney Trains AI on Its Characters

Perth, Nov 10: Disney will build generative AI models trained on its own characters, worlds and visual styles under a new multi-year alliance with Adobe, announced at the Adobe MAX conference.
Using Adobe Firefly Foundry, the custom models are designed to produce “commercially safe and production-ready” work based only on Disney’s properties.
Walt Disney Imagineering is already using the technology in theme park development, including a model that turns hand-drawn sketches into fully rendered concept art.
Adobe has been named an Official AI Innovation Partner of Disney and will give its creative teams early access to tools including Firefly, Premiere and Photoshop, along with engineering and research support.
The alliance also covers Walt Disney Studios’ StudioLAB innovation hub and ESPN Edge, where the companies will explore using AI to engage sports fans and bring ESPN’s archive to life.
“Disney has always embraced innovation, and this alliance with Adobe builds on a longstanding relationship between two companies that share a deep commitment to creativity,” said Becca Vodnoy, senior vice president, Corporate Alliances, The Walt Disney Company.
Adobe will also increase its presence across Disney’s media platforms as part of the deal.

Would You Let AI Shop For You?

Perth, Nov 10: More than eight in 10 Australians (82%) now use AI tools to help guide their online purchases, according to new research from payments company Stripe, released ahead of the Black Friday and Cyber Monday sales.
But most shoppers still want the final say. The research found 61% of Australians are unwilling to let an AI agent spend money without their explicit approval, citing concerns about security, fraud and losing control of their spending.
Younger shoppers are more open to the idea. About a third of millennials (33%) and Gen Z shoppers (32%) said they would be comfortable letting an AI agent automatically buy wishlist items when they reach a target price.
Among shoppers unhappy with AI search results, the top complaints were generic suggestions (35%), inaccurate product information (29%) and being directed to products not available in Australia (28%).
For retailers, the stakes are high. Almost all merchants surveyed (99%) said they receive AI-driven traffic, and 76% said it converts at a higher rate than traditional browsing.
“AI agents are becoming the new front page of search,” said Karl Durrance, managing director of Stripe ANZ.
Melbourne-founded accessories brand Bellroy is among the local retailers adapting.
“AI is changing how people discover and consider products. Customers are moving beyond broad searches to detailed questions about what will suit them best,” said Tyler House, chief marketing officer at Bellroy.

Adobe Brings AI Agents To Photoshop, Premiere

Perth, Nov 10: Adobe today (11 November) unveiled AI agents that carry out multi-step editing tasks in Photoshop, Premiere, Illustrator and its other creative apps, which users direct in plain language.
Announced at its annual Adobe MAX conference, the tools include “always-on” agents that handle recurring jobs, such as sorting files and preparing content for social media, in the background.
Adobe is also turning its Firefly app into an all-in-one AI studio for video, image, audio and design, where users can choose between Adobe’s own AI models and those from Google, OpenAI and others.
The company expanded its partnerships with Google and Microsoft, bringing Acrobat to Google Workspace and optimised versions of Photoshop and Premiere to Arm-based Windows laptops.
Adobe also signed a multi-year AI deal with The Walt Disney Company, which will use its technology to develop concepts for its theme parks and cruises.

Power Bills: Aussies Sweat It Out

Perth, Nov 10: More than two in five Australians (42 per cent) have gone without heating or cooling in the past year to keep power costs down, but only 17 per cent switched electricity provider, new YouGov research shows.
Baby Boomers (52 per cent) and women (46 per cent) were the most likely to cut back. Other money-saving habits included switching off at the power point (44 per cent) and using appliances at cheaper times of day (30 per cent).
As summer nears, 40 per cent plan to wear less clothing at home to avoid using air-conditioning, while a third intend to cool off in shopping centres, libraries, pools or at friends’ homes. Gen Z were the most likely to plan this kind of “air-con escape” (46 per cent).
Nearly two-thirds (63 per cent) said they found it hard to tell whether they were on a good electricity deal, and 70 per cent wrongly believed their distributor did jobs it does not, such as generating their power or sending their bill.
“Changing habits feels easier than changing plans,” said YouGov senior research manager Jo Lynn Lee. The survey of 1,045 Australian adults was conducted between 15 and 19 October 2026.

AI Hackers Hit Southeast Asian Banks

Perth, Nov 11: Cybercriminals are using an artificial intelligence hacking tool, originally built for legitimate security testing, against financial institutions across Southeast Asia, Microsoft has warned.
Microsoft Threat Intelligence said on 6 November that a Cambodia-based group it tracks as Storm-3358 began using the ARTEX framework against financial organisations in October 2026, mainly in Southeast Asia. ARTEX uses coordinated AI agents to find and exploit weaknesses with little human input. Developed in China, it was open source until 8 October, and copies remain publicly available.
In Indonesia, monitoring by Fortinet’s FortiGuard Labs showed the banking, finance and insurance sectors faced more than 1.2 million cyberattack attempts in 24 hours, prompting the financial regulator to urge banks to stay alert. Experts note these figures are blocked attempts, not confirmed breaches.
Shane Barney, Chief Information Security Officer at Keeper Security, said AI was dramatically speeding up attacks. “If threat actors are operating in seconds, human defenders relying on manual processes have already lost,” he said.
He urged financial institutions to adopt zero-trust security and tightly control access and credentials, so attackers who get in cannot move freely through internal systems.

Betamek Revenue Up 24.7%, Margins Squeezed

Perth, Nov 11: Automotive electronics maker Betamek Berhad recorded revenue of RM161.31 million for the six months ended 30 September 2026, up 24.7% from RM129.35 million a year earlier, driven by higher export and local sales.
Profit before tax rose 4.3% to RM20.50 million, but profit after tax slipped to RM15.30 million from RM15.78 million. Exports made up about 19.3% of revenue, with sales to Hong Kong jumping to RM29.03 million from RM6.55 million.
Second-quarter profit before tax fell to RM9.29 million from RM12.50 million a year earlier, as gross profit margin dropped to 16.70% from 20.44% in the previous quarter. The company blamed a weaker product mix and higher material costs, as the US dollar and Chinese renminbi strengthened against the ringgit.
The board declared a second interim dividend of 1.25 sen per share, payable on Dec 7, bringing total dividends for the financial year to date to 2.50 sen.
Executive Director Muhammad Fauzi Abd Ghani said the results reflected the group’s underlying strength, adding that Betamek remained optimistic about demand, rising electronics content in vehicles and the government’s push for greater local content, while staying mindful of currency volatility and raw material costs.