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Category: 3. Business

  • Decision Regulation Impact Statement – Consumer guarantees and supplier indemnification

    Update

    In November 2025, the Consumer Ministers agreed to strengthen the consumer guarantees and supplier indemnification framework.

    The main changes to the Australian Consumer Law are:

    • introducing civil penalties and expanded enforcement powers for non-compliance
    • greater clarity and fairness of the current regime.

    These changes will lead to improved compliance with the law.  

    Background

    This Decision Regulation Impact Statement follows 2 earlier consultations:

    Treasury received close to 80 submissions overall.

    Next steps

    Treasury will develop draft laws. Stakeholders will have another chance to provide feedback on draft laws.

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  • NTT DATA acquires The Cloud People to expand ServiceNow expertise and strengthen global reach

    NTT DATA acquires The Cloud People to expand ServiceNow expertise and strengthen global reach

    December 19, 2025

    NTT DATA, Inc.

    Bielefeld, Germany/Oslo, Norway – December 18, 2025 – NTT DATA announces the acquisition of The Cloud People Group AS, one of the largest pure-play ServiceNow partners in Europe. Founded in 2019, The Cloud People is headquartered in Oslo, Norway, with offices across northern Europe, the USA and Brazil, and will become part of NTT DATA Business Solutions, a business unit of NTT DATA.

    As a leading provider of ServiceNow solutions for medium and large enterprises, The Cloud People offer a focused value proposition covering the entire ServiceNow platform. The company delivers services across multiple workflows including IT service management, incident, problem and change management, automation of routine tasks, resource planning, onboarding and offboarding of employees, as well as customer service and security operations. The acquisition of The Cloud People will add 130 active customers to NTT DATA Business Solutions’ portfolio.

    The Cloud People is at the forefront of ServiceNow’s AI evolution with its dedicated AI Center of Excellence. Having already delivered measurable results for more than 20 clients across Northern Europe, the company’s proven innovation capabilities-now strengthened by NTT DATA Business Solutions’ global expertise-are set to accelerate the development of smarter workflows and advanced AI solutions designed to meet the evolving needs of people and organizations.

    “With the acquisition of The Cloud People, we are strengthening our presence in the Nordics and Central Europe,” says Norbert Rotter, CEO of NTT DATA Business Solutions. “SAP remains at the core of our business. By combining our more than 35 years of deep SAP expertise with The Cloud People’s proven strength in ServiceNow we are expanding our portfolio with complementary services. I am confident that The Cloud People’s dynamic growth and commitment to excellence perfectly align with our values of economic stability and outstanding service.”

    Nicolaj Vang Jessen, Executive Managing Director Consulting GIIC and Nordics & Eastern Europe, NTT DATA Business Solutions, adds: “The Cloud People is an ideal addition to our ServiceNow portfolio and opens new opportunities for us in Northern Europe. Together, we will focus on leveraging synergies and integrating the expertise of The Cloud People’s more than 300 consultants into NTT DATA Business Solutions.”

    “For The Cloud People, this means achieving growth with stability that no financial investor could provide, along with a platform for expansion that surpasses even our most ambitious expectations. NTT DATA Business Solutions is a Top Employer-certified organization with deep process and industry expertise, completing our ServiceNow proposition as the Platform of Platforms,” says Bjørn Jarl, CEO of The Cloud People.

    The acquisition comes at a time when ServiceNow and NTT DATA are expanding their strategic partnership, which is aimed at accelerating AI-driven transformation for global enterprises. As part of this collaboration, ServiceNow named NTT DATA a strategic AI delivery partner. Both organizations are committed to co-developing and marketing AI-powered solutions that enable large-scale automation and operational efficiency. This strengthened alliance provides a robust platform for NTT DATA Business Solutions and The Cloud People to collaborate in driving innovation and delivering next-generation, AI-enabled ServiceNow offerings to customers worldwide.

    The Cloud People will operate as an independent company after the acquisition, using the brand name “The Cloud People, an NTT DATA Business Solutions company”.

    For more information, please visit nttdata-solutions.com.

    About NTT DATA Business Solutions

    NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 18,300 dedicated employees in over 30 countries work passionately every day to make it happen.

    NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of AI, business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize, and transform for long-term success. NTT DATA is part of NTT Group.

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  • Volunteers wanted for clothes swap events

    Volunteers wanted for clothes swap events

    Looking for local youth, aged 14-24, to volunteer at Coast Swap events. 
    Gain skills, make friends, help keep clothes out of landfill…and re-fresh your wardrobe!

    The first bi-monthly event is:
    •    Sat 24 Jan 2026, 10am-2pm
    •    Gosford Regional Library, Level 1, 123A Donnison St

    Build your skills. Boost your resume. Meet new people. Shape something real.

    Volunteer at Coast Swap and get:
    •    Real world event experience (set-up, customer flow, displays, teamwork).
    •    Creative skills in styling, upcycling, visual design + social content.
    •    Leadership opportunities — help run future swaps as the program expands.
    •    A friendly, inclusive crew of people your age to connect with.
    •    Volunteer hours that look great for jobs, TAFE, uni, or Duke of Ed.
    •    A voice in shaping a growing coast wide sustainability project.
    •    A feel good moment: you’re helping the community and reducing fashion waste.

    Submit your expression of interest

     

    About Coast Swap

    Coast Swap invites the community to bring along 5–10 clean, good‑quality items to swap for “new‑to‑you” pieces. The event reduces textile waste, promotes circular fashion, and builds community connection — all powered by youth volunteers.

    You’ll help create a positive, welcoming space where people of all ages can refresh their wardrobe sustainably, and support young leaders in action.

    What you’ll do as a youth volunteer

    • Welcome and check‑in participants
    • Sort, and display items
    • Manage tokens and assist with the swap flow
    • Capture photos or short videos (optional, with consent)
    • Contribute to youth‑led content, stories, or social updates
    • Help participants browse items
    • Keep the space tidy, friendly, and inclusive

    No experience is needed — just enthusiasm and a positive attitude.

    Event details (first swap)

    📍 Gosford Regional Library, Level 1

    📅 Saturday 24 January 2026

    ⏰ 11:00am–1:00pm

    (We’ll contact you about arrival time and volunteer briefing.)

    Before you apply

    • Youth volunteers are required to:
    • Be aged 14–24
    • Agree to Council’s Volunteer Work Agreement
    • Submit the Digital Consent Form if you opt‑in to being photographed/filmed
    • Have parent/guardian consent if under 18

    You’ll receive a short on‑the‑day induction, covering:

    • Work Health & Safety
    • Manual handling
    • Event conduct and expectations

    Next Steps

    Fill in the Expression of Interest form and our Youth Development Officer will email you the following forms to complete and email back.

    Enquires: 

    Contact our Youth Development Officer – Renee Simpson, renee.simpson@centralcoast.nsw.gov.au, 0436 017 550

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  • Bank of Japan raises interest rates to 0.75% – Reuters

    1. Bank of Japan raises interest rates to 0.75%  Reuters
    2. Bank of Japan raises benchmark rates to highest in 30 years, lifting 10-year JGB yield past 2%  CNBC
    3. Japan hikes interest rate to highest level since 1995 as inflation bites  BBC
    4. Yen edges closer to intervention zone after BoJ rate decision  Business Recorder
    5. Mohsin_Trader_king(@Square-Creator-46eb16893)’s insights  Binance

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  • Bank of Japan Hikes Benchmark Rate to Highest Level Since 1995 – Bloomberg.com

    1. Bank of Japan Hikes Benchmark Rate to Highest Level Since 1995  Bloomberg.com
    2. Bank of Japan raises rates to highest in 30 years as inflation stays above target  CNBC
    3. USD/JPY Forecast: What’s Next for the Yen After the BOJ Decision?  FOREX.com
    4. Bank of Japan raises interest rates to 30-year high, signals more hikes  Reuters
    5. Asia stocks rise as tech rebounds; BOJ rate hike in focus  Investing.com

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  • Bank of Japan Raises Interest Rates to Highest Level in 30 Years – The New York Times

    1. Bank of Japan Raises Interest Rates to Highest Level in 30 Years  The New York Times
    2. Asia-Pacific markets rise as investors await Bank of Japan decision  CNBC
    3. Bank of Japan raises interest rates to 30-year high, signals more hikes  Reuters
    4. USD/JPY Forecast: What’s Next for the Yen After the BOJ Decision?  FOREX.com
    5. Asia stocks rise as tech rebounds; BOJ rate hike in focus  Investing.com

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  • Bank of Japan raises short-term interest rates to highest in 30 years

    Bank of Japan raises short-term interest rates to highest in 30 years

    Kazuo Ueda, governor of the Bank of Japan (BOJ), during a committee on financial affairs meeting at the lower house of parliament in Tokyo, Japan, on Friday, Nov. 21, 2025.

    Bloomberg | Bloomberg | Getty Images

    Japan’s central bank on Friday raised its short-term rates to a three-decade high, marching ahead with its policy normalization, and driving a sell-off in government bonds.

    The Bank of Japan raised benchmark rates by 25 basis points to 0.75%, their highest level since 1995, and in line with expectations of economists polled by Reuters.

    The BOJ said that real interest rates are expected to remain “significantly negative,” adding that accommodative financial conditions will continue to firmly support economic activity.

    Following the decision, the yield on 10-year Japanese government bonds rose about 5 basis points to 2.019%, while the 20-year JGB yield climbed 3 basis points to 2.975%, both reaching their highest since 1999.

    The yen weakened 0.25% to 155.92 against the dollar, and the benchmark Nikkei 225 stock index gained 1.28%.

    Stock Chart IconStock chart icon

    Japan embarked on policy normalization last year, abandoning the world’s only negative interest rate regime that had been in place since 2016. Since then, the BOJ has consistently maintained its stance on gradually lifting rates, stating that its goal was to see a “virtuous cycle” of rising wages and prices.

    Inflation has run above above the BOJ’s 2% target for 44 straight months, with data released earlier in the day showing consumer price growth at 2.9% in November. High inflation has pressured real wages that have been declining for 10 months in a row, according to labor ministry data.

    The BOJ projected that core inflation — which strips out the prices of fresh food — is likely to decelerate below 2% from April to September 2026, due to a slower rise in food prices as well as the effects of government measures aimed at addressing rising prices.

    Higher rates risk exacerbating the downturn in the Japanese economy. Revised GDP numbers for the third quarter showed that economy shrank more than initially estimated, contracting 0.6% quarter on quarter, and 2.3% on an annualized basis.

    The BOJ said in its statement that while weakness has been seen in the economy, corporate profits were likely to remain high, and firms are expected to continue raising wages in 2026.

    “It is highly likely that the mechanism in which both wages and prices rise moderately will be maintained,” the bank said, adding that the possibility of underlying inflation reaching its 2% target was rising.

    The rate hike also comes at a time when JGB yields have been hitting multi-decade highs, spiking further after the decision, raising the risk of higher borrowing costs for Japan and increasing fiscal strain.

    Asia’s second-largest economy already boasts of the world’s highest debt-to-GDP ratio, standing at almost 230%, according to data from the International Monetary Fund.

    Rising yields could, however, support the Japanese currency. The yen has been trading around 154-157 against the dollar since November, having weakened over 2.5% since Prime Minister Sanae Takaichi, a proponent of looser monetary policy, took office in October.

    Stock Chart IconStock chart icon

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    After this hike, the BOJ is likely to raise its policy rate in mid-2026, taking it to a terminal rate of 1%, Shigeto Nagai, head of Japan Economics at Oxford Economics, said in a statement to CNBC before the BOJ decision. Terminal or neutral rate refers to one that balances inflation and economic growth — it neither overheats, nor slows down the economy.

    BOJ Governor Kazuo Ueda reportedly said earlier this month that it was difficult to estimate the terminal rate, with the central bank pegging it at 1% to 2.5%.

    Nagai warned that another rate hike by the BOJ could cause friction with Takaichi, if inflation declines smoothly towards 2% in the first half of 2026.

    Takaichi during her leadership contest had staunchly opposed rate hikes by the BOJ, but has since softened her stance.

    Nagai said that the reason why Takaichi would accept this rate hike was because of the weak yen, and that “addressing the cost-of-living crisis has become an urgent policy issue.”

    In November, Japan’s cabinet approved a stimulus package totaling 21.3 trillion yen ($135.5 billion) as Takaichi seeks to boost the country’s slowing economy and offer support to inflation-hit consumers.

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  • Court decision on ANZ and ASIC settlement regarding Australian Markets and Retail matters

    Court decision on ANZ and ASIC settlement regarding Australian Markets and Retail matters

    ANZ today announced that the Federal Court of Australia (the Court) has made orders regarding the settlement ANZ agreed with the Australian Securities and Investments Commission (ASIC) to resolve five matters within its Australian Markets and Australia Retail businesses that were the subject of separate regulatory investigations.

    As part of the resolution, ANZ agreed to civil penalties of $240 million, which were detailed in a media release on 15 September 2025,[1] and to pay ASIC’s costs.

    In its decision today the Court imposed an additional $10 million penalty relating to the submission of inaccurate monthly secondary bond turnover data to the Australian Office of Financial Management, increasing the penalty for this matter from $40 million to $50 million.

    For the remaining matters, the Court ordered penalties in the terms agreed with ASIC. The total penalties ANZ is subject to under the orders today is $250 million.

    The financial impact of the revised civil penalties and ASIC’s costs are almost wholly covered by existing provisions, including a $240 million penalty provision.

    ANZ is focused on significantly improving its management of non-financial risks across the bank, with a dedicated program of work underway as part of its Root Cause Remediation Plan. In addition, ANZ has established an ASIC Matters Resolution Program within Australia Retail to meet commitments to ASIC to deliver improvements across a number of areas in its Retail division. Both programs of work will be reviewed by Promontory, an independent expert appointed to review and report on progress and delivery of this work.

    Download PDF 

     

    For media enquiries contact:

    Lachlan McNaughton
    Head of Media Relations
    Tel: +61 457 494 414

    For analyst enquiries contact:

    Cameron Davis
    Executive Manager, Investor Relations
    Tel: +61 421 613 819

    Approved for distribution by ANZ’s Continuous Disclosure Committee

     

    [1] https://www.anz.com.au/newsroom/media/2025/september/asic-settlement-on-australian-markets-and-retail-matters–agreem/ 

    anzcomau:newsroom/mediacentre/Media-Release

    Court decision on ANZ and ASIC settlement regarding Australian Markets and Retail matters

    2025-12-19

    /content/dam/anzcomau/mediacentre/images/gallery/ANZ Centre.jpg

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  • Exclusive: US launches review of advanced Nvidia AI chip sales to China, sources say – Reuters

    1. Exclusive: US launches review of advanced Nvidia AI chip sales to China, sources say  Reuters
    2. The US Is Selling H200 AI Chips to China – So Why Isn’t China Buying?  The Diplomat – Asia-Pacific Current Affairs Magazine
    3. Jensen Huang Gets What He Wants  Time Magazine
    4. Congress Revisits Export Curbs in Wake of Trump’s H200 Approval  Bloomberg.com
    5. Mast introduces bill allowing Congress to block AI chip exports to adversaries  thehill.com

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  • NZTA confirms preferred suppliers for Integrated Delivery Contracts

    Following a thorough procurement process, NZTA has confirmed its preferred suppliers for Integrated Delivery Contracts (IDCs), covering state highway road maintenance and renewals, which will commence in May 2026.

    The contracts, which are expected to be signed early next year, will see contractors accountable for the majority of maintenance and renewal activity on regional state highway network, with up to 20% of work available to other pre-qualified suppliers through a contestable process.

    The IDC contracts represent a significant change from the previous Network Outcomes Contracts (NOC), with NZTA taking greater ownership of asset management, from the gathering and analysing asset condition data through to the development of short, medium and long-term programmes.

    Other key changes include a refreshed quality management framework and better use of design standardisation to speed up the path from programming to delivery.

    NZTA National Manager Maintenance and Operations Andrew Clark says the contracts will build on NZTA’s focus on ensuring value for money through quality delivery.

    “New Zealanders depend on a safe, accessible and high-quality state highway network, and NZTA is committed to providing this. Through the current Government Policy Statement for land transport 2024 (GPS) we have embarked on a significant programme of road rebuilding, which will deliver long term benefits for everyone using the state highway network. 

    “The preferred suppliers have been chosen based on a range of factors, including proven ability to deliver, mobilisation approach and price. Our thorough tender review process has ensured the selection of suppliers with the ability to deliver the best results over the tenure of the contract.

    “The new contracts reward delivery – contractors that deliver on time and to a high standard will be rewarded with greater volumes of work. At the same time, we want to enable market growth and diversity by using a wider range of suppliers through the contestable work programme that will complement these contracts.

    “We look forward to working with the preferred suppliers to finalise contracts ahead of signing early in the New Year. This is a once in a generation moment to drive improved road maintenance outcomes for New Zealand.”

    The table below lists the nominated preferred suppliers for the new Integrated Delivery Contract networks. Tenures are for 10 years from 1 May 2026 unless otherwise stated.

    Area

    IDC Contractor

    Northland

    Fulton Hogan

    West Waikato

    Fulton Hogan (to June 2029)

    East Waikato

    Higgins

    Central Waikato

    Downer

    Bay of Plenty

    Higgins

    Taranaki

    Downer (to June 2029)

    Manawatū-Whanganui

    Fulton Hogan

    Hawke’s Bay

    Higgins

    Tairāwhiti

    Downer (to June 2029)

    Nelson-Tasman

    Fulton Hogan

    Marlborough

    HEB/Fulton Hogan (to March 2029)

    West Coast

    Fulton Hogan

    North Canterbury

    HEB

    South Canterbury

    Isaac

    Coastal Otago

    Downer

    Central Otago

    Fulton Hogan

    Southland

    SouthRoads

    For further information on the IDC model, see:  

    Technical disciplines – Integrated delivery model(external link)

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