Australian inflation has climbed to 3.8 per cent in December, surpassing forecasts and heightening the possibility of an interest rate hike by the Reserve Bank of Australia (RBA) next week. The surge in inflation has also contributed to a more than 1 per cent increase in the Australian dollar, making super funds nervous. These rapid movements are causing investors to take notice and reassess their positions.
In other news, Rokt, a prominent Australian technology company backed by venture capital, has decided to postpone its anticipated initial public offering (IPO) until at least 2026, citing uncertainty in the market due to artificial intelligence. Rokt is known for its e-commerce marketing technology that helps businesses optimise their customer experiences. The company connects customers to relevant offers from merchants like Ticketmaster and HelloFresh.
Furthermore, AI giant Anthropic’s CEO, Dario Amodei, has voiced concerns about the potential societal disruptions caused by artificial intelligence. Anthropic is behind one of the most popular AI platforms for businesses around the world. Amodei’s warning comes as the technology continues to rapidly evolve and integrate into various aspects of daily life. Finally, four venues formerly owned by bankrupt publican Jon Adgemis have been sold for $130 million. Adgemis was declared bankrupt last year after accumulating significant debts.
