FEAR & GREED | Business News Reform roundtable kicks off; 6 ASX records in 6 days; Turnbull slams bosses for cyber risk
Aug 18, 2025
A government economic reform roundtable launches, targeting major issues like trade and tax. The ASX celebrates six consecutive days of record highs while NAB faces backlash for employee underpayment. Qantas is hit with a hefty $90 million fine over illegal staff dismissals during the pandemic. Meanwhile, a former Prime Minister highlights corporate responsibility in cybersecurity amid rising threats, and Meta struggles with its AI application amidst user dissatisfaction. It's a whirlwind of challenges and changes in the business landscape!
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Small, Focused Reform Summit
- The federal economic reform roundtable convenes 24 leaders to tackle productivity, resilience and budget sustainability.
- It targets tax reform, AI use, red tape reduction and faster project approvals to boost long-term growth.
Push For Concrete Regulatory Cuts
- Business groups urge cutting red tape 25% by 2030 and streamlining planning and approvals to unlock investment.
- They also push for productive tax reform and national AI classroom policies to boost innovation.
NAB Payroll Failures Resurface
- NAB admitted payroll system errors and set aside $130 million to remediate underpayments.
- The bank has prior payroll scandals, including $250 million in past underpayments stretching back to 2012.