Money
WiseTech global board re-examines allegations against founder Richard White
Australia’s largest listed technology company, WiseTech Global, is facing renewed scrutiny as its board re-investigates serious allegations against founder and CEO Richard White.
The allegations, made by a former sexual partner in late 2020, included claims of inappropriate behaviour and led to a multi-million-dollar settlement.
Initially addressed by a subcommittee of WiseTech’s board, which included only two current directors, the issue has resurfaced following inquiries from Australian media outlets.
The rest of the board, unaware of the matter until recently, convened crisis meetings over the weekend to consider the claims further.
Disturbing behaviour
Further investigations have revealed disturbing patterns of behaviour, including reports of White contacting female entrepreneurs with offers of support that escalated into suggestive communications.
WiseTech’s growth has helped Mr White amass a personal fortune of more than $10 billion, according to the Financial Review Rich List.
Additionally, concerns have emerged regarding undisclosed payments to former WiseTech chief growth officer Gail Williamson and a previously withdrawn apprehended violence order filed by White’s wife in 2021.
While White maintains his innocence and denies the claims, his private life has increasingly become a public concern, especially as his dispute with former lover Linda Rogan remains unresolved.
Despite the controversy, White, who founded WiseTech in 1994 and continues to hold significant power within the company, has stated he is fully committed to WiseTech’s strategic goals.
The company’s board, led by chairman Richard Dammery, is now conducting further inquiries to ensure transparency and corporate governance in light of these developments.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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