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Tech giants face new Australian news payment policy

ByteDance joins Meta, Google in Australia’s new news payment policy; potential charges for social media platforms begin January 1.

Published

7 months ago

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TikTok’s parent company ByteDance will join Meta and Alphabet in paying new levies for Australian news unless they reach agreements with publishers.

Apple and Microsoft may also be affected if their revenues in Australia exceed $250 million annually.

Labor’s policy seeks to compel Meta to negotiate after it previously refused to pay for news.

Under the proposed legislation, the Australian Taxation Office will impose an annual levy on social media and search companies, exceeding the current news media bargaining code’s value of about $200 million annually.

Companies that negotiate payments to news publishers can offset these payments against their levy.

For example, if a platform faces an $11 million levy with a 10% uplift, it must secure at least $10 million in deals to avoid paying the ATO.

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Any shortfall between deals and the annual charge will be collected by the ATO and distributed to publishers.

Final policy details will emerge after consultations early next year.

The law takes effect on January 1, emphasizing quick negotiations with tech companies.

Assistant Treasurer Stephen Jones clarified that the policy aims to facilitate negotiations, not increase government revenue, stating that digital platforms benefit financially from Australia and should support quality journalism.

Labor’s decision follows Meta’s refusal to renegotiate under the existing bargaining code, which could lead to significant job losses in journalism.

The Labor-controlled committee has deemed the current code “broken” and called for an alternative.

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CoreWeave’s $9B AI power grab

CoreWeave acquires Core Scientific for $9B, Capgemini buys WNS for $3.3B, shaping AI infrastructure and strategy.

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53 minutes ago

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July 9, 2025

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CoreWeave acquires Core Scientific for $9B, Capgemini buys WNS for $3.3B, shaping AI infrastructure and strategy.


CoreWeave just dropped a staggering $9 billion to acquire Core Scientific, locking down crucial power, GPU access and data centre space in a bold push to dominate AI infrastructure.

At the same time, Capgemini is shelling out $3.3 billion for outsourcing giant WNS, aiming to control every layer of AI—from strategy to execution.

Analysts say it’s no longer just about size. It’s about owning the entire stack—from chips to cloud to consulting—as companies scramble to future-proof their AI dominance.

#AI #CoreWeave #Capgemini #MergersAndAcquisitions #TickerNews

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Qantas cyberattack hits six million flyers

Qantas cyberattack exposes details of six million frequent flyers; urgent investigation underway amid rising support calls.

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58 minutes ago

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July 9, 2025

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Qantas cyberattack exposes details of six million frequent flyers; urgent investigation underway amid rising support calls.


A massive cyberattack has struck Qantas, compromising the personal details of up to six million frequent flyers.

A group claiming responsibility has now reached out to the airline, triggering an urgent investigation led by the AFP and top cybersecurity teams.

While no passport or financial data was accessed, names, emails, frequent flyer numbers and birth dates were exposed—sparking over 5,000 calls to support lines.

#Qantas #Cyberattack #DataBreach #FrequentFlyers #TickerNews

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Trump changes tune on Putin and Ukraine

Trump criticizes Putin’s sincerity on Ukraine war, backs defensive weapons for Ukraine, and hints at new sanctions.

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1 hour ago

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July 9, 2025

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Trump criticizes Putin’s sincerity on Ukraine war, backs defensive weapons for Ukraine, and hints at new sanctions.


President Donald Trump is now calling out Vladimir Putin, accusing the Russian leader of being insincere about ending the war in Ukraine.

In a sharp reversal of past praise, Trump confirmed he authorised defensive weapons for Ukraine and hinted at new sanctions against countries backing Russia.

#Trump #Putin #UkraineWar #Sanctions #TickerNews

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