THE HOT STORY

Super Retail takes A$23.8m hit from CEO affair scandal as profits slide

Australia's Super Retail Group has absorbed a A$23.8m ($16.9m) legal bill stemming from a workplace scandal involving its former chief executive, significantly denting first-half 2026 earnings and overshadowing new chief executive Paul Bradshaw’s debut results. The costs, largely linked to settlement payments to two former executives-turned-whistleblowers, Rebecca Farrell and Amelia Berczelly, were disclosed in fine print within the retailer’s results. The pair had alleged bullying, misuse of corporate funds and an undisclosed relationship between former CEO Anthony Heraghty and head of HR Jane Kelly. The A$23.8m expense consumed almost 20% of the group’s statutory net profit of A$104.1m for the December half.

The West Australian

The Australian Financial Review

The Australian

STRATEGY

Amazon opens second-largest Asia office in Bengaluru

Amazon has opened its second-largest office in Asia in Bengaluru, unveiling a 12-storey, 1.1m sq ft campus that will accommodate more than 7,000 employees across e-commerce, operations, payments, technology and seller services in India. The new site forms part of Amazon’s ongoing expansion in the country, where it has already invested over $40bn and committed a further $35bn by 2030. Karnataka’s industries minister MB Patil said the investment highlights India’s growing role as a global technology and innovation hub. Located 15km from Kempegowda International Airport, the campus has been designed to support collaboration and flexible working, with meeting rooms, breakout spaces and event areas for more than 200 people.

Economic Times

WiseTech plans major workforce reduction amid AI strategy shift

Australian software company WiseTech Global is set to cut approximately 2,000 jobs, or nearly a third of its global workforce, as part of a two-year restructuring to integrate AI into its shipping and logistics management operations. Chief executive Zubin Appoo highlighted that such automation will not only enhance efficiency, reducing project timelines dramatically, but it may also lead to significant layoffs in areas like product development and customer service.

Reuters

REMUNERATION

Nestlé pressures underachievers with new bonus structure

Swiss food giant Nestlé is overhauling its bonus system to reward top performers. The company is introducing six rankings for its employees to determine payouts. Employees deemed "exemplary" will be eligible for a payout of as much as 150% of the bonus target. Those employees given an "unsatisfactory" rating will receive between 0% and 50% of the target. Bonus targets vary across teams. Nestlé said the system simplifies performance evaluation, development planning and employee feedback. A Nestlé spokesperson said: “The idea behind the whole framework is to really develop people. We also want to change how people behave.”

Bloomberg

Reuters

REGULATION

Japan's CPA rule sparks merger speculation

Japan's professional accounting body is raising the minimum number of Certified Public Accountants required for firms auditing publicly listed companies. The change aims to ensure adequate staffing to detect accounting irregularities and promote industry consolidation. Experts say the move may see smaller firms consider mergers.

Bloomberg Tax

TECHNOLOGY

Hyundai Motor to announce major investment in new technologies

Hyundai Motor Group is set to disclose a multi-billion-dollar investment in South Korea’s west coast aimed at enhancing its focus on artificial intelligence for autonomous driving and robotics. Shares of Hyundai and its affiliate Kia surged significantly following reports of a potential 10tn won ($7bn) investment, which includes plans for a robotics centre and an AI data centre. The commitment aligns with Hyundai's broader strategy to establish itself as a leader in the hydrogen and AI sectors, following a recent agreement to procure 50,000 AI chips from Nvidia.

Reuters

CYBERSECURITY

Google disrupts hacking group linked to China targeting global organisations

Google has disrupted the operations of a Chinese-linked hacking group known as UNC2814 which had breached at least 53 organisations across 42 countries. The group used Google Sheets to execute their surveillance and data theft, successfully blending their activities into normal network traffic, according to Google Threat Intelligence analysts. John Hultquist from Google's team said: “This was a vast surveillance apparatus used to spy on people and organisations throughout the world.”

Reuters

INTERNATIONAL

Tesla faces H-1B hiring discrimination lawsuit

A federal judge has ruled that Tesla must face trial over allegations of discrimination against American citizens in its hiring practices. US District Judge Vince Chhabria in San Francisco refused to dismiss a lawsuit accusing the carmaker of systematically discriminating against US citizens in hiring by preferring H-1B visa holders who will do the same job for less pay. The plaintiff is a software engineer who alleges Tesla passed him over for an engineering role as part of a deliberate and systemic preference for foreign workers. Chhabria said the plaintiff had presented “just enough facts” about Tesla’s hiring practices for the proposed class action to proceed, while noting he was “somewhat skeptical” the case would ultimately succeed.

Automotive World

Reuters

Italian region resists US pressure to halt use of Cuban medics

The governor of Italy's southern ⁠Calabria region is rebuffing Washington's effort to halt the recruitment of medics from Cuba. Doctors from the Caribbean island are seen as essential to ⁠keeping ⁠local hospitals running, and Roberto Occhiuto said he had ‌told Mike Hammer, the US charge ‌d'affaires to Cuba, he would review plans to hire even more Cuban doctors this year. In January, the US said that Cuba posed an "unusual and extraordinary threat" to national security. "We discussed the urgent ⁠needs ⁠of Calabria's health system and ⁠the complexities surrounding the Cuban doctors' mission," Occhiuto said after the talks with Hammer. "The Cuban doctors who are allowing us to keep hospitals and emergency rooms ⁠open are still a necessity for our region," he added.

U.S. News

Human skills ‘matter even more’ for early consultancy career roles

"The UK’s Leading Management Consultants" Special Report in the Financial Times looks at how traits including curiosity, judgment and resilience have become more important in the increasingly AI-enabled environment at top consultancies. The paper also looks at how, as AI tools become more widely available, firms are refocusing on employees’ skills to set them apart from rivals in the AI era.

Financial Times

OTHER

AI glasses sales surge in China over Spring Festival

AI-powered eyewear recorded strong sales growth in China during the Spring Festival holiday, boosted by pent-up demand and inclusion in a new national subsidy programme. In Shenzhen’s Huaqiangbei electronics hub, total revenue rose 35% year-on-year over the holiday period, with AI glasses sales surging by up to 80%, according to local media reports. Sales of drones and robots also climbed as much as 50%. AI glasses were added in January to the government’s subsidy scheme, which offers a 15% discount on eligible products priced below 6,000 yuan ($869), capped at 500 yuan per item. The category joins smartphones, tablets and smartwatches under the programme. Retailers reported strong demand from educators and business executives, who are using the devices to assist with unscripted public speaking and other professional tasks.

South China Morning Post

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