Category: 3. Business

The Australian Securities and Investment Commission (ASIC) made the changes in response to concerns about the public availability of directors’ personal information on its business registers, which included the officeholder’s residential address. ASIC has removed these details from current and historical company details available through searches purchased from its website.

Joni Henry, an expert in corporate law at Pinsent Masons, said: “These long sought-after changes were made to protect the privacy and personal safety of directors and other registered officeholders. This information can be readily found and used for potential fraud or doxxing, which then creates a real-world risk of harassment and physical danger.”

“This sensible change brings Australia into line with other jurisdictions. Residential addresses of directors are not publicly available in the UK and New Zealand passed laws late last year to allow directors to have their residential addresses redacted from the publicly searchable Companies Register due to similar safety and privacy concerns,” she said.

“ASIC will still collect personal information from directors, including their address details, and require directors to update their details with ASIC and continue to hold director identification numbers. The Treasury is also proposing draft legislation to strengthen its ability to monitor and enforce compliance with these identification and registration requirements.”

Treasurer Jim Chalmers reportedly intervened to urge the removal of residential addresses from public databases, following advice from the Australian Security Intelligence Agency.

Law enforcement, regulators and government agencies, such as the Australian Taxation Office, can still access residential addresses included on ASIC’s registers.

Hannah Griffiths, an expert in insolvency at Pinsent Masons, said: “These changes will create potential challenges for insolvency practitioners. In the meantime, ASIC has agreed to provide the required information in response to direct requests made by insolvency practitioners on court appointed liquidation.”

“Other appointment types should obtain the relevant information from the directors following discussions. Names of officeholders and other details are still available on the publicly searchable company register,” she said.

“This change will likely pose a very real and practical impediment to the timely administration of a corporate insolvency by insolvency practitioners and also have the undesirable consequence of delaying the pursuit of recovery actions, enforcement of guarantees and identification of assets in corporate insolvency which will likely pose significant, and unintended, commercial risks for businesses, creditors and financiers that have historically relied on ASIC published data in respect of the whereabouts of officeholders.”

“Businesses, creditors and financiers should consider ensuring performance obligations in their contractual arrangements with counterparties to enhance identity verification of officeholders, maintain and update address for service details, and ensure adequate security is obtained at the time of entering credit facilities or trading accounts with corporate entities to insulate against this regulatory change.”

A British space company hoping to launch the first homegrown rocket from Scotland is on the brink of collapse, threatening 150 jobs and throwing doubt over the UK’s extraterrestrial ambitions.

Orbex, which is based in the Scottish Highlands, is lining up administrators as hopes fade that it will strike a rescue deal or raise funds, despite having been handed £26m in government loans last year.

The startup had planned to launch a rocket from a base on the Shetland Islands and was “on the cusp” of holding its first test flights in 2026, according to its chief executive, Phil Chambers.

The company had also been in talks to raise fresh cash from the Treasury-backed National Wealth Fund, but that deal fell through at an “early stage” of discussions late last year, a source with knowledge of the situation said.

Launch plans were also hit by repeated delays and Orbex eventually turned to a potential German buyer, The Exploration Company, which is developing a reusable spacecraft. On Wednesday, Orbex said it had examined several merger and acquisition options in an effort to stay afloat but none of had come to fruition.

“Disappointing doesn’t come close to describing how we feel about this moment,” Chambers said. “We have been successfully developing a sustainable, world-class sovereign space launch capability for the UK and were on the cusp of our first test flights later this year.”

He added: “It is no secret that designing and building space rockets to enable a launch service is a capital-intensive, highly advanced process with a long development cycle that creates a ‘scale-up’ funding gap. Institutional support is a crucial to bridge this gap and we have worked tirelessly to try to find both funding or rescue solutions.”

Peter Kyle, the business secretary, approved £20m of taxpayer-funded loans to Orbex in January 2025, hailing its plan to launch small satellites into orbit as one that would “transform the UK space industry”.

At the time, Dr Paul Bate, who steps down as chief executive of the UK Space Agency next month, said Orbex would “inspire a new generation to reach for the stars”.

Last summer, Liz Kendall, the technology secretary, handed a further £6m loan to the startup, designed to help it pursue a £150m contract with the European Space Agency to aid the development of alternatives to Elon Musk’s SpaceX in the US.

Orbex was planning to launch small satellites into orbit using its 19-metre long, low-carbon rockets. It had initially been developing its own home spaceport on the A’Mhòine peninsula in the Highlands, but was eventually forced to shelve the project and relocate its planned launches to SaxaVord, a base on the Shetland Islands.

The launch would have been the first from UK soil since the British billionaire Richard Branson’s failed Virgin Orbit mission in 2023.

A government spokesperson said: “We remain committed to supporting our dynamic space sector. We recognise this will be a very worrying time for staff at Orbex. Space launch is a highly competitive sector, and it has always been the case that some companies will succeed, while others will fail.

“We will be setting out more details about our plans for developing key national space capabilities, including launch, in due course. Any decisions will be focused on ensuring maximum impact for taxpayers’ money.”

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The Dow Jones Industrial Average slipped on Wednesday after the better-than-expected delayed January jobs report failed to spark a sustainable advance.

The blue-chip index traded down 109 points, or 0.2%, as did the Nasdaq Composite. The S&P 500 hovered around the flatline.

The Bureau of Labor Statistics’ January nonfarm payrolls report — which had been delayed due to a partial government shutdown that ended on Feb. 3 — showed job growth of 130,000 last month. Economists polled by Dow Jones had called for a gain of 55,000. The latest figure also marked a sizable increase from December, which was downwardly revised to 48,000.

The unemployment rate also landed at 4.3%, a bit below the Dow Jones forecast for 4.4%.

While the report showed the strongest job gains in more than a year, areas of growth remained concentrated in just a few sectors, predominantly health care-related, which added 124,000 total positions. That was double the normal growth from 2025. Moreover, there is the continuing specter of downward revisions over the labor market, particularly after every month in 2025 saw adjustments lower. With benchmark annual revisions combined with monthly moves through the year, average monthly job growth last year was just 15,000.

“This is generally a good sign, as you’d expect, but we are certainly not out of the woods yet with respect to the labor market. ‘Moving in the right direction’ would be a better description. The unemployment rate is gradually improving, but there are still plenty of signs that the labor market remains exceedingly weak,” Rick Wedell, CIO at RFG Advisory, said, citing a low quit rate as one example.

“In this environment, it is clear that we still have a long way to go before the labor market can be considered ‘solid,’” he added.

Treasury yields had initially jumped on the heels of the report as it at first fueled investor optimism that the economy was on firm footing. At session highs, the Dow was up more than 300 points, or 0.6%, while the S&P 500 gained 0.7% and the Nasdaq jumped 0.9%. However, Federal Reserve interest rate cut odds were reduced, which could have thrown a wrench into that enthusiasm.

The jobs report follows weaker-than-expected consumer data released on Tuesday. That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.

“After a long period of prognosticators offering a tepid outlook for the economy based on a weakening labor market, this print provides a solid datapoint on the side of robust economic growth, an improving labor market and wage growth that can support consumer spending,” said Brad Smith, portfolio manager at Janus Henderson Investors. “The Fed will take this point in to its calculus when it makes its decision next month on whether to hold rates steady. With its wait-and-see data dependent stance, this will surely put the balance towards a hold.”

Software stocks, which were a key driver of last week’s rout amid fears of disruption from artificial intelligence, came under pressure yet again Tuesday. Salesforce was down 4%, while ServiceNow fell 5%. The iShares Expanded Tech-Software Sector ETF (IGV) dropped 3%, putting it 30% below its 52-week high. The fund entered bear market territory last month.

Conversely, shares of stocks that would benefit from an accelerating economy gained, as well as those involved in the buildout of AI data centers. Shares of digital infrastructure provider Vertiv surged 18% after the company posted a fourth-quarter earnings beat and issued a strong 2026 outlook. Others such as Caterpillar, GE Vernova and Eaton were all higher in the session as well.

The day’s moves come after the broad-based S&P 500 suffered losses Tuesday as worries over AI’s impact on the financial sector weighed on the index. After tech platform Altruist launched a new AI-powered tax planning tool, several financial services firms’ stocks fell. The tech-heavy Nasdaq also posted a losing session, while the 30-stock Dow notched another all-time high and closing record.

Beyond the jobs report, other economic data that could steer markets will be released this week. The consumer price index, a key economic indicator that acts as a gauge for inflation, is expected to come out on Friday.

— CNBC’s Jeff Cox contributed reporting

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(Bloomberg) — A much stronger-than-anticipated US jobs report spurred a slide in Treasuries as traders trimmed bets on Federal Reserve rate cuts this year. An initial rally in stocks waned amid a selloff in software companies.

Short-dated Treasuries were hit the hardest, with two-year yields set for their biggest increase since October. Money markets priced in the Fed’s next cut in July, from June previously. The S&P 500, which had earlier risen on hopes that economic strength would keep fueling earnings, was little changed. Most megacaps fell and an ETF tracking software giants tumbled 3%. Bitcoin sank to around $66,500.

US payrolls rose in January by the most in more than a year and the unemployment rate unexpectedly fell, suggesting the labor market continued to stabilize.

Employers added 130,000 jobs last month and the unemployment rate slid to 4.3%. That followed revisions to the prior year, which showed a marked slowdown in hiring. Job gains averaged just 15,000 a month last year, down from the initially reported 49,000 pace.

“Markets may have been expecting a downshift in today’s numbers after last week’s soft data, but the jobs market hit the gas pedal instead,” said Ellen Zentner at Morgan Stanley Wealth Management. “Today’s data shows an acceleration in employment that was strong enough to drive unemployment lower.”

This is the kind of report investors should welcome — even if it gives the Fed more room to stay put, said Bret Kenwell at eToro.

“Still, it’s important to keep perspective: this is one data point, and it doesn’t erase the recent softness elsewhere in the data. But if the labor market is indeed stabilizing, that would be constructive for both the economy and the market,” he said.

The bigger implication may be for stocks given that a stronger job market will likely support the “broadening trade,” according to Brad Conger at Hirtle Callaghan.

Ahead of the release of the report, traders were betting on a softer jobs data following the release of several downbeat job market indicators, noted Fawad Razaqzada at Forex.com. As it turned out, it was quite the opposite, he said

“The better-than-expected job numbers for January are a bright spot in an otherwise uncertain labor market,” said Jerry Tempelman at Mutual of America Capital Management.

If the recent jitters in the stock market are due to concerns of a weakening labor market and/or economy that is headed toward a recession, this report should alleviate those concerns in the short run, according to Chris Zaccarelli at Northlight Asset Management.

“Until we see significant weakness in the labor market, the economy or corporate profits, we believe this is still a market where dips can be bought,” he said.

The jobs report checked all the boxes today with better headline results, stronger participate rates, and the unemployment rate ticking lower, noted Art Hogan at B. Riley Wealth.

Despite labor market softening observed last year, economic strength is likely coming out of 2025 and carrying into this year — and that should leave companies reluctant to fire, while tight labor supply should keep a lid on the unemployment rate, noted Jennifer Timmerman at Wells Fargo Investment Institute.

Investors are shifting from trading headlines to focusing on earnings durability, balance-sheet strength, and selective growth, knowing volatility and rotation are likely as 2026 unfolds, according to Gina Bolvin at Bolvin Wealth Management Group.

“The market got the jobs report it needed,” said Brad Smith at Janus Henderson Investors. “Despite tight spreads and elevated multiples, we view this as a favorable backdrop for risk assets.”

Worst-case scenarios didn’t play out thanks to a private-sector rebound, according to David Russell at TradeStation. Today’s numbers seem to confirm the manufacturing rebound we’ve recently seen

“It’s good news for people worried about an imminent slowdown, but it also reduces the urgency to cut interest rates,” he said.

Looking through the noise, today’s print is a positive for risk assets given it shows a solid labor backdrop that can fuel further upside in consumption, said Jeff Schulze at ClearBridge Investment.

The release provides ammunition to the Fed hawks to maintain a patient approach to rate cuts, reinforcing the narrative of a stabilizing labor market, according to Angelo Kourkafas at Edward Jones

“Markets have adjusted accordingly, with bond futures now fully pricing in a Fed cut by July instead of June. From a portfolio standpoint, we expect the 10‑year yield to drift back toward the middle of its 4%–4.5% range, and we believe the rotation toward ‘old economy’ and pro‑cyclical sectors should continue,” he said.

The relatively healthy state of the labor market suggests that rate cuts are not imminently needed, which allows the Fed some time to digest incoming data before determining the appropriate course of action moving forward, noted Jason Pride at Glenmede.

“Investors should expect a base case of ~2 rate cuts in 2026, which are more likely to come under the leadership of the next Fed chair,” he said.

“Today’s employment report was a 10 out of 10 with positive surprises across the board,” said Peter Graf at Amova Asset Management Americas. “It should quell recent concerns about growth, but puts incoming Fed Chair Warsh in the hot seat — it will be even harder to persuade the FOMC members to go along with the President’s mandate to cut rates.

Interest-rate swaps after the data showed traders see less than 5% of a chance that policymakers lower rates when they meet in March. Traders have priced in a total of 49 basis points of policy easing by December — implying about two quarter-point rate cuts this year, compared with 59 basis points on Tuesday.

An improving employment outlook should allow the Fed to shift its attention toward the inflation mandate and its anticipated progress for 2026, according to Oscar Munoz and Gennadiy Goldberg at TD Securities.

They continue to forecast quarterly rate cuts of 25 basis points but now in June, September, and December, bringing the Fed funds rate to our projected terminal of 3%.

“Expected easing won’t be the result of worsening economic conditions, but rather the normalization of policy as inflation gradually returns to its target,” they said.

The labor market is showing some tentative signs of re-tightening, although there remains a way to go, according to Kay Haigh, at Goldman Sachs Asset Management.

“The FOMC’s gaze instead will turn to the inflation picture with the economy continuing to perform above expectations,” he said. “We still see room for two more cuts this year; however, an upside surprise in the CPI on Friday could tilt the balance of risks in a hawkish direction.”

Corporate Highlights:

T-Mobile US Inc. reported it added fewer mobile-phone subscribers than analysts expected in the fourth quarter, highlighting the challenge ahead for new Chief Executive Officer Srini Gopalan. Kraft Heinz Co. halted plans to split in two, a surprising reversal weeks after bringing in a new chief executive officer with experience breaking up a food company. Shopify Inc. beat analysts’ fourth-quarter estimates after strong holiday spending lifted revenues at the e-commerce firm. Humana Inc. forecast profit that fell short of Wall Street’s expectations for the year, the latest insurer to disappoint investors as the industry grapples with rising costs and government pressure. Ford Motor Co. expects profit to jump in 2026 even after a surprise $900 million tariff bill at the end of last year dented the carmaker’s earnings. Lyft Inc. issued a disappointing forecast that missed Wall Street expectations, a sign that its global expansion and new product offerings are not performing as quickly and as well as anticipated. Nike Inc. expects its wholesale business to pick up steam across the world as it accelerates the launch of new footwear and apparel products and doubles down on its commitment to sports. Chevron Corp., Eni SpA, QatarEnergy and Repsol SA were among major energy companies that won rights to explore for oil and gas in Libya, the latest sign that the nation that holds Africa’s largest crude reserves is opening up for investments following years of civil war. Robinhood Markets Inc. reported lower fourth-quarter profit as sharp declines in Bitcoin and other cryptocurrencies weighed on results at the online brokerage. Gilead Sciences Inc. forecast 2026 product revenue and profit that missed analysts’ expectations, even after it outperformed during last year’s fourth quarter. US regulators refused to review Moderna Inc.’s novel mRNA flu vaccine, dealing a major blow to the company as it seeks more products beyond its Covid shot. Domino’s Pizza Enterprises Ltd. named McDonald’s Corp. veteran Andrew Gregory as its new global chief executive officer, charging him with turning around the chain’s flagging fortunes. Toymaker Mattel Inc. reported holiday results that fell short of analysts’ estimates and issued a 2026 forecast for lower profit. Activist investor Ancora Holdings Group is urging the board of Warner Bros. Discovery Inc. to reject the offer by Netflix Inc. and reconsider a competing bid by Paramount Skydance Corp., adding a new plot twist to one of Hollywood’s biggest takeover battles. Cloudflare Inc. reported quarterly results that showed continued demand for its security and performance services, as enterprises prioritized network resilience and application protection. Hilton Worldwide Holdings Inc. reported fourth quarter earnings that beat expectations, as the company’s ability to add new hotels to its global network drove growth. The Federal Communications Commission said it hasn’t received a letter from 40 Congressional Republicans opposing the proposed merger of broadcasters Nexstar Media Group Inc. and Tegna Inc. Elliott Investment Management has built a stake in London Stock Exchange Group Plc as the FTSE 100 index owner grapples with disruption from artificial intelligence and a plunge in listings, a person with knowledge of the investment said. Commerzbank AG’s improved outlook for this year failed to sway investors, underscoring the challenges for Chief Executive Officer Bettina Orlopp as she continues to defend the bank against a potential takeover. ABN Amro Bank NV reported fourth-quarter profit that missed analyst expectations on higher-than-expected expenses and provisions for bad loans. Heineken NV will cut about 7% of its workforce to contend with an industry-wide slump in beer demand triggered by rising prices and consumers moderating their alcohol consumption. Bombardier Inc. won a 40-plane order for its Challenger 3500 aircraft from Vista Global Holding Ltd., one of the world’s biggest operators of business jets, amid growing global demand for private aviation. Dassault Systemes SE gave weak guidance, stoking concerns that artificial intelligence will disrupt its business model and turning the stock into one of the biggest targets yet of a fear-driven selloff in businesses viewed as vulnerable to AI. TotalEnergies SE trimmed its share buybacks to the lower end of its guidance range, aiming to keep debt in check as it adjusts to lower oil prices. Samsung Electronics Co. will unveil its latest mainstream Galaxy smartphones on Feb. 25 at an event in San Francisco, hoping to spur upgrades and fresh momentum in its rivalry with Apple Inc.’s iPhone and Android-based competitors. ASX Ltd. said chief executive Helen Lofthouse will leave the role in May, without naming a successor as the Australian exchange grapples with challenges including a regulatory probe. Some of the main moves in markets:

Stocks

The S&P 500 was little changed as of 10:57 a.m. New York time The Nasdaq 100 rose 0.2% The Dow Jones Industrial Average fell 0.4% The Stoxx Europe 600 was little changed The MSCI World Index was little changed Bloomberg Magnificent 7 Total Return Index was little changed Philadelphia Stock Exchange Semiconductor Index rose 1.7% IShares Expanded Tech-Software Sector ETF fell 3% The Russell 2000 Index fell 1.1% Currencies

The Bloomberg Dollar Spot Index was little changed The euro fell 0.3% to $1.1862 The British pound was little changed at $1.3638 The Japanese yen rose 0.5% to 153.55 per dollar Cryptocurrencies

Bitcoin fell 3% to $66,582.23 Ether fell 3.8% to $1,932.33 Bonds

The yield on 10-year Treasuries advanced three basis points to 4.17% Germany’s 10-year yield was little changed at 2.80% Britain’s 10-year yield declined two basis points to 4.48% The yield on 2-year Treasuries advanced six basis points to 3.51% The yield on 30-year Treasuries advanced two basis points to 4.81% Commodities

West Texas Intermediate crude rose 1.5% to $64.94 a barrel Spot gold rose 0.7% to $5,059.78 an ounce ©2026 Bloomberg L.P.

Translation: La Conferencia Wings of Change Americas de IATA se Celebrará en Santiago de Chile (pdf)

 

Miami – The International Air Transport Association (IATA) announced that this year’s Wings of Change Americas (WOCA) Conference will be taking place on 8-9 April in Santiago de Chile, with LATAM as the host airline.

The 16^th edition of the aviation industry’s premier event in Latin America and the Caribbean is being held under the theme “Beyond Borders – Aviation as a Catalyst for Economic Transformation” and will focus on how strategic collaboration between the aviation sector and government authorities can:

• Expand regional connectivity
• Accelerate economic growth, and
• Strengthen global competitiveness

The various panel discussions will highlight the critical importance of collaboration between the aviation industry and governmental bodies, as the key enabler for economic development and transformation. Moreover, industry relevant topics such as the role of technology and AI, sustainability, and the significance of air cargo will also be featured.

More than 400 industry leaders and stakeholders are expected to attend the event.

Peter Cerdá, Regional Vice President for the Americas, IATA, will be speaking at the event together with many of the region’s top airline CEOs including:

• Roberto Alvo – CEO, LATAM Airlines Group
• Daniel Belaunde – CEO, Sky Airline
• Adrian Neuhauser – CEO, Abra Group
• Gabriel Oliva – President of Avianca Group
• Estuardo Ortiz – CEO, JetSMART Airlines

Reflecting the conference’s objective to create solutions across the aviation value chain, the various panel discussions will include:

• Sustainability & Innovation – Overcoming Barriers toward Net Zero Carbon Emissions in Latin America
• Airport Executive Roundtable – Powering the Next Generation of Infrastructure in the Americas
• Regulatory Roundtable – Balancing Consumer Protection & Industry Viability
• Air Cargo & Logistics – Unlocking Trade Potential in the Americas
• Code, Cloud, Cabin – AI’s Triple Play in Aviation

WOCA will also be the first aviation industry event in Chile to welcome representatives of the country’s newly elected administration.

Aviation is a key contributor to economic and social development across Latin America and the Caribbean. The sector supports more than 8.3 million jobs and generates an economic contribution of some USD 240 billion in GDP (2023). Estimates show that these figures are set to nearly double by 2043 to 15 million supported jobs and USD 500 billion in GDP contribution.

> View the full details and current program

Media wishing to be accredited for the event should do so via the registration page.

 

For more information, please contact:

Corporate Communications
Tel: +1 438 258 3155
Mobile: +1 514 240 4746
Email: ruedigerm@iata.org

PULLMAN, Wash. – A wearable biosensor developed by Washington State University researchers could improve wireless glucose monitoring for people with diabetes, making it more cost-effective, accurate, and less invasive than current models.

The WSU researchers have developed a wearable and user-friendly sensor that uses microneedles and sensors to measure sugar in the fluid around cells, providing an alternative to continuous glucose monitoring systems. Reporting in the journal Analyst, the researchers were able to accurately detect sugar levels and wirelessly transmit the information to a smartphone in real-time.

“We were able to amplify the signal through our new single-atom catalyst and make sensors that are smaller, smarter, and more sensitive,” said Annie Du, research professor in WSU’s College of Pharmacy and Pharmaceutical Sciences and co-corresponding author on the work. “This is the future and provides a foundation for being able to detect other disease biomarkers in the body.”

Measuring glucose levels is important for diabetes, helping to keep patients healthy and preventing complications. Continuous glucose monitors on the market require the use of small needles to insert the monitor, and people can get skin irritation or rashes from the chemical processes that are done under the skin. Furthermore, they’re not always sensitive enough.

The researchers used 3D printing to create their sensor, which makes it relatively inexpensive compared to typical monitors. The sensor uses a button-activated pump and tiny hollow microneedles to extract fluid from around the cells and tissue below the skin for testing. Unlike other glucose monitors that can cause inflammation and pain at the testing site, the testing process occurs outside the body, lowering potential toxicity for patients.

“Ours is much more benign for customers and users,” said Kaiyan Qiu, Berry Assistant Professor in WSU’s School of Mechanical and Materials Engineering and corresponding author on the work.

The hollow microneedle arrays are less than a millimeter in length as compared to typical glucose monitoring needles that are several times longer.  

“The hollow microneedles are painless and minimally invasive, making them next-generation medical devices,” said Qiu.

The glucose monitor is also highly sensitive because it uses a single-atom catalyst and enzymatic reactions, called nanozymes, to enhance the sugar’s signal and measure low levels of the biomarkers.

“The nanozymes make our signal much stronger and can detect a minimal amount of any biomarker,” said Qiu.

The researchers have filed a provisional patent in the Office of Innovation and Entrepreneurship. They are planning to test the glucose monitors on animals and are investigating its use with additional or multiple biomarkers. The revenue from continuous glucose monitor market in the United States is forecasted to nearly quadruple, from $7.2 billion in 2024 to $26.8 billion in 2033. 

“My goal is to make advanced sensing technology more practical for everyday healthcare,” said Yonghao Fu, co-first author on the paper and a PhD student in the School of Mechanical and Materials Engineering. “I enjoy working on a project that can combine different technologies so that we can take advantage of their strengths.”

The work was funded by the National Science Foundation and the Centers for Disease Control and Prevention.