Capital Brief

By popular demand, On The Call is now a weekly live event. Exclusively for subscribers.

Every Thursday our journalists unpack the stories driving the agenda and answer your questions live.

Expect candid conversations and regular cameos from the newsroom.

Join us on the call 👉 lnkd.in/gpgiEpSG

🗞️ Nine’s $700m question As Nine nears a $1.4 billion payday for its stake in Domain, attention has turned to what it could offload next.

📣 Introducing The Signal: Capital Brief’s latest newsletter, providing an insider look at how media, tech, entertainment and power collide in Australia.

First up: 🗞️ Nine’s $700m question

www.capitalbrief.com/newsletter/n...

EXCLUSIVE: The Albanese government's National Reconstruction Fund is being investigated over possible misconduct following a whistleblower complaint alleging governance failures and ongoing workplace culture issues.
www.capitalbrief.com/article/labo...

Let's not repeat our solar energy mistake with quantum computing Australia led the world in solar innovation but failed to cash in. With quantum computing, we have a second chance — if we act decisively.

IDEAS: Australia led the world in solar innovation but failed to cash in. With quantum computing, we have a second chance — if we act decisively.

Morgan Stanley is hungry for Australia's next fast food IPO After finding immense investor appetite for Guzman y Gomez on the ASX, the investment bank is eager to serve up the next hot restaurant chain to the market.

After finding immense investor appetite for Guzman y Gomez on the ASX, Morgan Stanley is eager to serve up the next hot restaurant chain to the market

ABC boss Hugh Marks confirms 50 roles impacted by restructure The ABC will cut about 50 roles as part of a restructure that will bring an end to the late night current affairs show Q+A and introduce ABC Screen in place of its content division.

New: ABC boss Hugh Marks confirms 50 roles impacted by restructure via @capitalbrief.com www.capitalbrief.com/briefing/abc...

Uneasy as ABC Hugh Marks' move to cancel Q+A is part of a bigger overhaul of the ABC that's expected to include jobs cuts, as the new managing director puts his stamp on the broadcaster.

Top stories in today's Edition
- Uneasy as ABC: Hugh Marks swings the axe
- Labor's Tim Ayres on PsiQuantum, NRF revamp
- Airwallex's crypto aversion
- Michaelia Cash walks back error

Q+A was built for another era of media, and died with it Once a cornerstone of the national political conversation, Q+A ultimately couldn’t survive an increasingly fractured media landscape.

for my myriad sins, i wrote about Q+A www.capitalbrief.com/article/qa-w...

US and China strike in-principle agreement to ease trade war: reports The US and China have agreed in principle to a framework for deescalating trade tensions, according to Bloomberg and The Wall Street Journal.

The US and China have agreed in principle to a framework for deescalating trade tensions, according to reports

ABC to axe Q+A after nearly two decades on air The ABC is set to pull the plug on its late-night panel program, ending years of speculation over its future.

Scoop: ABC to axe Q+A after nearly two decades on air via @capitalbrief.com www.capitalbrief.com/article/abc-...

Mandarin moves The appointment of Jenny Wilkinson as Australian's first female Treasury secretary is clearly a historic moment. What it says about the government's economic plans is less certain.

Top stories in today's Edition
- Mandarin moves: Albanese shuffles top bureaucrats
- The bizarre story of the Sydney Stock Exchange
- Why Aussie founders are AI optimists
- Economists on Taylor's tax plan

The bizarre story of the Australian stock exchange with no stocks listed on it Once a burgeoning bourse home to companies like Sigma, SPC Ardmona and Brumby's Bakeries, not much is going on at the Sydney Stock Exchange any more.

For the last eight months, the Sydney Stock Exchange has been the financial equivalent of a pub with no beer ‒ a stock market with no shares changing hands on it

Angus Taylor had an inflation rebate tax proposal. Peter Dutton said no. Taylor’s dismissed tax plan underscores deepening internal Liberal tensions over how to rebuild the party’s low-tax reputation after its election defeat.

Scoop from my colleague Anthony Galloway: Angus Taylor proposed an automatic tax rebate tied to high inflation months before the election campaign, but the plan was rejected by Opposition Leader Peter Dutton’s office in favour of a cut to fuel excise www.capitalbrief.com/article/angu...

Freshwater retains offshore media partners despite Australian election backlash The polling firm has media partnerships with UK-based City AM, New Zealand's The Post, and the Australian Financial Review.

New: Polling firm Freshwater Strategy is poised to retain at least two of its three major media partners despite criticism of its work in the lead up to the Coalition’s historic 2025 federal election defeat www.capitalbrief.com/article/fres...

The $300b bank Commonwealth Bank keeps on defying its many sceptics, becoming Australia's first $300 billion company today after its share price hit a new record. What could go wrong?

Top stories in today's Edition
- The $300b bank: Commonwealth defies sceptics to hit a new record
- Treasury Wine in short sellers' sights
- HSBC targets Aussie tech
- Labor lashes ASPI

Labor minister lashes ASPI on its own turf as defence spending debate gets heated The Albanese government's testy relationship with the think tank was on full display on Wednesday.

Defence Industry Minister Pat Conroy has used an appearance at the Australian Strategic Policy Institute to attack the think tank, deepening its already fractious relationship with Labor

Hegseth's heckle The PM has pushed back against US Defence Secretary Pete Hegseth's call for Australia to lift defence spending significantly, but he may have little choice as conflicts flare up globally.

Top stories in today's Edition
- Hegseth's heckle: Albo holds firm against US pressure on defence
- Geoff Wilson backs Greens on super tax
- The big banks' AI talent war

Fund manager Geoff Wilson '100% supportive' of Greens tweak as Liberals' Tim Wilson readies anti-super tax campaign Prominent fund manager Geoff Wilson and Liberal MP Tim Wilson are preparing for a fight that may be franking credits 2.0.

Prominent fund manager Geoff Wilson and Liberal MP Tim Wilson are preparing for a fight over Labor's super tax changes that may be franking credits 2.0

AI or bust Fears are growing that artificial intelligence will have a devastating impact on Australia's jobs market, but failing to take advantage of AI's productivity benefits would be a worse outcome.

Top stories in today's Edition
- Can Australia lead on AI?
- Nine exec shake-up complete as Stutchbury exits
- Why Allan Gray backs Ramsay Health Care
- Koda Capital shifts its VC strategy

Koda Capital shifts focus to smaller VC funds for better returns Co Ventures and Side Stage Ventures say smaller VC funds have the maths on their side — it’s easier to deliver outsized multiples from smaller pools of capital.

Koda Capital, one of Australia’s largest private wealth firms, is shifting more capital into smaller venture capital funds

TACO Friday Donald Trump may have erupted when asked about the "TACO" trade this week, but it seems markets are just pleased it provides an element of predictability.

Top stories in today's Edition
- Behold the TACO trade
- Ley and Littleproud face dissent
- Biotech PolyActiva's $40m raise
- ABC job cut fears
- Startup lessons from the Labubu craze

What founders can learn from viral toy phenomenon Labubu Pop Mart's increasing global success shows how brand, community and clever distribution can drive growth — and why startups should take note.

IDEAS: Labubu is more than just a viral plush toy. It’s the mascot for a new playbook in brand building.

Look behind you Both Sussan Ley and David Littleproud face dissent from within after this week's reunification of the Coalition and shadow ministry announcement.

In today's Political Capital newsletter from @finnmchugh.bsky.social
- Conservative Liberals angered by Sussan Ley's reshuffle
- David Littleproud also facing leadership rumblings
- Husic speaks out on Gaza
- US court rulings on Trump's tariffs add to investment uncertainty

ABC staff shake-up sparks job cut fears ahead of pay talks The public broadcaster's plans to implement a new operating model and change the way support staff work has unnerved employees and unions.

Moves by ABC management to implement a new operating model have sparked fears of job cuts

DOGE days are over Despite the backing of Donald Trump and his legion of dedicated supporters, Elon Musk's efforts to slash government spending had little chance in the face of the bureaucratic behemoth.

Top stories in today's Edition
- DOGE days are over as Musk departs
- Startup secondary market at a crossroads
- Vinyl Group accuses ex-Brag Media CEO of 'sham transactions'

Vinyl Group accuses ex-Brag Media CEO of 'sham transactions' to secure loan Vinyl Group alleges Luke Girgis faked payroll records to obtain a bank loan, as part of a broader legal dispute over his dismissal from The Brag Media.

Vinyl Group alleges ex-Brag Media CEO Luke Girgis faked payroll records to obtain a bank loan, as part of a broader legal dispute over his dismissal

Hume truths Angus Taylor and Jane Hume both bore the brunt of criticism over the Coalition's economic policies after its election disaster. But only one of them has been dumped from the frontbench.

Top stories in today's Edition
- Hume dumped, Taylor shifted in Ley's new shadow ministry
- The startup sector's lobbying problem
- Ex-ANZ CEO Mike Smith on Australia's fintech advantage

Super tax debate highlights tech's lobbying weakness Whether it's a real threat or not, the debate over Labor's super tax has revealed a crucial pain point — Australia's startup ecosystem lacks the clout to influence policy.

Whether it's a real threat or not, the debate over Labor's super tax has revealed a crucial pain point — Australia's startup ecosystem lacks the clout to influence policy.

Read more in this week's Sweat Equity newsletter.

'Party of Whitlam'? Greens leader Larissa Waters has a plan to pull Labor to the left In an interview with Capital Brief, the successor to Adam Bandt said she will not rubber stamp Labor policies, but will support a progressive agenda.

New Greens leader Larissa Waters has committed to supporting the Albanese government — if it chooses to pursue progressive reforms