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Lachlan Murdoch’s top adviser – News Corp’s Australian broadcasting chief Siobhan McKenna – has resigned from the company following the sale of the Foxtel Group to global sports streaming service DAZN.

As chief executive of broadcasting for News Corp, McKenna’s role had significantly diminished after the pay TV and streaming business, which includes Kayo, Binge and Hubbl, was sold to the European broadcaster in April.

A former partner at McKinsey & Company, McKenna was Murdoch’s key adviser in the epic family trust case, which saw him take control of his father’s global media empire and secure the future of the Australian stable of newspapers, magazines and news channels.

The 53-year-old businessperson was heavily involved in the negotiations with Rupert Murdoch’s three “objecting children” in the Nevada court case, which was settled in the US last month. The three oldest siblings received an estimated US$1.1bn each for their shares in the business.

McKenna will leave the company at the end of the year, staff were told by News Corp’s global chief executive, Robert Thomson, in an email on Thursday morning.

“Her decision, and it is her decision, is essentially epochal as Siobhan has been a transformational force during her years with News Corp,” Thomson said.

“The word ‘visionary’ is often abused, but not in Siobhan’s case, as her ability to perceive the future from the haze-shrouded shapes on the horizon is nonpareil. She is irreplaceable.”

McKenna and Lachlan set up the private investment company Illyria 20 years ago, having both great success with Nova Entertainment and significant losses when he took over the Ten network in 2012 before it went into voluntary administration in 2017.

The Albanese government appointed McKenna as chair of Australia Post in 2022, citing her commercial, strategic, digital and technology experience.

Thomson said McKenna navigated Sky News Australia and Foxtel through a “treacherous tech landscape” and made them into “global success stories”.

“The worth of Foxtel was instinctively appreciated by the global leader in sports streaming, DAZN, which recently acquired the company, and with whom we have an ongoing partnership,” he said.

“Sky was transformed from a traditional broadcaster to a digital powerhouse whose efficacious impact stretches far beyond the borders of Australia. The success of both companies marks a profound turning point for our company and a professional inflexion point for Siobhan.”

Lachlan is the chair of News Corp, the parent company of more than two dozen publications including the Wall Street Journal, The Times and the New York Post, after he succeeded his father in 2023 and executive chair and CEO of Fox Corporation.

Tokyo, October 30, 2025 – Mitsubishi Heavy Industries Machinery Systems (MHI-MS), a part of Mitsubishi Heavy Industries (MHI) Group, will conduct demonstration testing of finished vehicle logistics (FVL) using vehicle transport robots to autonomously move automobiles. Following a proposal adopted for “Testbed Support Subsidy Program”(Note1) conducted by Okinawa Prefecture, demonstration testing is scheduled to begin on December 1 this year at the prefecture’s temporary vehicle storage yard (motor pool) at Nakagusuku Port (Uruma, Okinawa Prefecture).

Vehicle transport robots are used to autonomously move finished vehicles at automobile manufacturing plants, motor pools, and for automated valet parking at shopping malls, theme parks, and airports.(Note2) The system enables automated transport even if the vehicle itself is not equipped with autonomous driving capabilities or communication functions, and can be widely utilized in motor pools for both new and used cars without the need for vehicle modification or extensive installation of equipment on the infrastructure side, and without major changes to current operations.

MHI-MS has been jointly developing the first advanced automated transport robot business in Japan with Stanley Robotics, a French venture company, since 2021. As of October 2025, seven core patents have been registered in Japan for automated transport robots, which will drive market expansion. In consideration of the unique conditions in Japan, domestic development of a customizable system was completed in March this year.

Okinawa, the site of the demonstration testing for finished vehicle transport, is a region with a high rate of private car ownership, with the number of private cars owned per capita of the population over the age of 20 exceeding the national average. Used cars especially are preferred by many prefectural residents because they are less expensive than new cars, and play an important role in the infrastructure supporting everyday life. In addition, because of the many tourist arrivals in Okinawa from Japan and abroad, the number of rental car registrations is one of the highest in Japan. Registered rental cars are replaced every few years and sold on the market as used cars. In this way, the used car market supports Okinawa’s industry and the everyday lives of people.

The Nakagusuku Port Motor Pool is mainly used for temporary storage of used cars prior to shipping, and transport services such as the loading and unloading of used cars are conducted at the site on a regular basis. In addition, the outdoor work environment has become harsher due to global warming, so reducing the physical burden on workers and ensuring a sustainable working style is an urgent matter. Strategies to address labor shortages due to the declining birth rate and aging population have also become a concern. In addition, the application of DX (digital transformation) technologies for vehicle management, such as visualization of the storage location of used cars, was also a factor for future consideration.

MHI-MS decided to participate in this program in Okinawa Prefecture to demonstrate the effectiveness of vehicle transport robots as a solution to such challenges. The demonstration testing will evaluate the potential for improving the working environment, and responding to labor shortages, as well as “human-centered robot utilization” such as robot-based yard management systems and DX to handle vehicle location information. The tests will also evaluate the potential contribution to decarbonization efforts by confirming supplemental benefits such as curbing CO₂ emissions through reduced driving of gasoline-powered vehicles.

Going forward, as a company committed to creating new value for society and solving future societal issues through mechatronics, MHI-MS will establish a new future for finished vehicle transport that is friendly to both people and the planet.

• 1 “Testbed Support Subsidy Program (Okinawa Prefecture Subsidy Program)” provides support for proof-of-concept experiments within Okinawa Prefecture by companies with innovative digital technologies and services, with the aim of furthering innovation and solutions to societal issues.
  See the following website for more information about the program.
  https://testbedislandokinawa.com(Japanese)
• 2 When the driver stops at a designated berth close to the facility, the vehicle transport robot moves the vehicle to a vacant space, taking over parking on behalf of the driver. The process is reversed when retrieving the vehicle, with the robot transporting the vehicle back to the berth at the time specified by the driver in advance using the smartphone app. For drivers, there is no need to find a parking space or park, and no concerns about brushing against the adjacent car when opening the door.

　

Related Press Releases

“MHI Group to Deliver Japan’s First Systems for Automated Valet Parking and Automated Transportation of Finished Vehicles” (October 27, 2021)
https://www.mhi.com/news/21102702.html

“MHI Group to Begin Demonstration Testing of Automated Valet Parking System Using AGV Robots at Outlet Mall in Chiba” (June 13, 2022)
https://www.mhi.com/news/220613.html

“MHI-MS Completes Domestic Registration of Core Patents for Vehicle Transport Robots” (September 11, 2024)
https://www.mhi.com/jp/news/24091101.html (Japanese)

“MHI-MS Completes Domestic Development of Vehicle Transport Robot” (March 4, 2025)
https://www.mhi.com/news/250304.html

(Bloomberg) — Asian stocks struggled for direction after Federal Reserve Chair Jerome Powell cautioned about further interest-rate reductions, saying a cut in December isn’t a foregone conclusion.

A gauge tracking the region’s stocks was little changed Thursday while South Korean shares gained after striking a trade deal with the US. Contracts for US indexes swung in between gains and losses. Government bonds in Australia and New Zealand tracked Wednesday’s losses in Treasuries, with the yield on the US 10-year trading at 4.07% in early Thursday trading. Gold edged up after four days of losses.

Earnings from tech megacaps were also mixed. Meta Platforms Inc. shares fell 7.7% in extended trading while Alphabet Inc. jumped 6%. Microsoft Corp. also retreated after earnings. Samsung Electronics Co. shares edged up after profit beat estimates.

Following the Fed’s expected rate cut, Powell’s caution about future moves and his focus on labor market risks led investors to scale back easing bets. Against this backdrop, markets now await policy signals from the Bank of Japan and the European Central Bank later Thursday, while also watching the upcoming meeting between President Donald Trump and Xi Jinping for clues on the world’s largest trade dispute.

“Asian markets will certainly start on the back foot today” after anticipation of a Fed cut in December and more an 2026 had spurred global stocks to record highs in recent weeks, said Nick Twidale, chief market analyst at AT Global Markets.

Fed officials delivered their second straight rate reduction to support a softening labor market, and said they would stop shrinking the portfolio of assets on Dec. 1. Governor Stephen Miran dissented again in favor of a larger reduction. Kansas City Fed President Jeff Schmid said he preferred not to cut rates at all.

“At a time when it’s flying with only one eye open, the Fed decided that the softening in the labor market is a bigger concern than the stickiness of inflation,” said Jack McIntyre at Brandywine Global. “What makes less sense is the odd range of dissents. This divergence means less complacency in financial markets, more volatility, and more two-way flows.”

On trade, Trump and Xi are set to finalize a détente as they meet in South Korea, putting the world’s biggest trade fight on hold — at least for now. China’s purchase of two US soybean cargoes — its first this season — hints at renewed trade flows under a broader pact that may roll back some recent tariffs and export curbs.

Meanwhile, the Bank of Japan is broadly expected to hold its benchmark interest rate steady at 0.5% on Thursday at its first policy meeting since Sanae Takaichi, a monetary easing advocate, became prime minister last week.

With almost all economists in a Bloomberg survey forecasting a rate hike in December or January, BOJ watchers will be parsing the statements and Governor Kazuo Ueda’s remarks for indications on when the move might come.

“Any hawkish signals could prompt markets to bring forward expectations for rate hikes,” Carol Kong and Samara Hammoud, strategists at Commonwealth Bank of Australia wrote in a note. “A hawkish BOJ is to also weigh on USD/JPY, with the market only pricing a modest chance of a 25 basis point hike before year-end.”

Meanwhile in other corporate news, artificial intelligence startup OpenAI is preparing to file for an initial public offering as soon as next year that may give the company a market capitalization of $1 trillion, Reuters reported Wednesday, citing unidentified sources.

Some of the main moves in markets:

Stocks

S&P 500 futures rose 0.1% as of 9:16 a.m. Tokyo time Hang Seng futures were unchanged Japan’s Topix rose 0.1% Australia’s S&P/ASX 200 fell 0.3% Euro Stoxx 50 futures rose 0.2% Currencies

The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1606 The Japanese yen was unchanged at 152.73 per dollar The offshore yuan was little changed at 7.0956 per dollar The Australian dollar was little changed at $0.6579 Cryptocurrencies

Bitcoin fell 1.1% to $110,201.36 Ether fell 1% to $3,911.03 Bonds

The yield on 10-year Treasuries was little changed at 4.07% Japan’s 10-year yield advanced one basis point to 1.650% Australia’s 10-year yield advanced 10 basis points to 4.32% Commodities

West Texas Intermediate crude fell 0.3% to $60.30 a barrel Spot gold rose 0.7% to $3,957.05 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Matthew Burgess.

©2025 Bloomberg L.P.