Chief executives of Australia’s 100 biggest companies earned a median pay of $4.8 million in the 2025 financial year, which is a 16% increase from 2024. This pay includes base salary, bonuses, and other benefits, and shows that CEO pay remains much higher than the average Australian worker’s earnings.
Key Facts
The median total pay for top 100 CEOs in Australia was $4.8 million in 2025.
This represents a 16% pay rise compared to 2024.
Life360’s founder Chris Hulls was the highest-paid CEO with $47.7 million in realised pay.
Other top earners include Mick Farrell from ResMed ($35.1 million) and Robert Thomson from News Corp ($33.5 million).
The gap between CEO pay and the average worker’s weekly full-time earnings stayed the same, with CEOs earning 55 times more.
Fixed base pay rose by 4% to a median of $1.83 million, still below 2012 levels.
Bonuses made up a large part of CEO pay, with most CEOs receiving around 70% of their maximum bonus.
Some CEOs received termination payments averaging $2.2 million each.
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A woman named Danielle Turner discovered a large, untouched collection of vintage kitchenware in the basement of a jewelry store in Philadelphia. The store had stored unsold appliances and housewares for decades after focusing solely on jewelry, making the find valuable for collectors.
Key Facts
Danielle Turner owns a vintage business that specializes in estate buyouts and vintage jewelry.
Turner met the local jewelry store owners through a referral from a pizza delivery person.
The jewelry store, Modern Jewelry, also sold appliances from the 1970s to the 1990s.
In 1993, the store dropped appliances to focus only on jewelry, but kept leftover inventory in the basement.
The basement stored hundreds of pieces of Pyrex, CorningWare, cookware, and kitchenware, many still in original unopened boxes.
Vintage Pyrex and CorningWare items can be worth thousands of dollars, especially rare patterns and promotional pieces.
Turner found the discovery meaningful as she has been collecting Pyrex for 18 years.
She purchased the collection, which holds both common and rare pieces.
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A lawsuit filed by 26 Meta employees claims the company used artificial intelligence (AI) systems to decide which workers to lay off. The complaint says these AI tools unfairly targeted employees with disabilities or those on protected medical or family leave. Meta denies the claims, saying people made the layoff decisions, not AI.
Key Facts
Meta planned to lay off about 8,000 employees, roughly 10% of its workforce.
The lawsuit alleges Meta used several AI systems to score and rank employees for layoffs instead of manager judgment.
Employees were classified based on their use of Meta’s AI tools, using labels like “AI Native” and “AI Enabled.”
The AI tools did not adjust scores for people on protected leaves or with disabilities, which may have unfairly penalized them.
The 26 plaintiffs requested disability accommodations or took protected leave within 24 months before being selected for layoffs.
Meta says human managers made all layoff decisions and rejects the lawsuit’s claims as unfounded.
Layoffs were set to begin on July 22, 2026.
The layoffs were announced despite Meta reporting record revenue and planning to increase spending on AI technology.
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California will start giving instant rebates up to $3,500 to people buying an electric vehicle (EV) for the first time. This new program replaces some of the incentives that ended after the federal government cut EV tax credits.
Key Facts
California launched a $270 million rebate program for first-time EV buyers.
The rebates will be available starting later this summer.
The rebate amount can be up to $3,500 per buyer.
This state program replaces some lost incentives after the Trump administration ended federal EV tax credits.
The program was signed into law by California Governor Gavin Newsom.
The incentives aim to encourage people in California to buy electric vehicles.
The focus is on making EVs more affordable and supporting clean energy goals.
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Chipotle, a US fast-food chain known for Mexican-style meals, is opening its first restaurant in Mexico, in Monterrey. This move has caused mixed reactions among locals, with some welcoming it and others criticizing the idea of a US company selling its version of Mexican food in Mexico.
Key Facts
Chipotle has over 4,000 restaurants worldwide and is opening its first location in Mexico on Thursday in Monterrey.
The new restaurant will be in San Pedro Garza García, an upscale neighborhood in Monterrey, Nuevo León.
Some Mexican customers are excited, but many express skepticism or dislike, preferring to support local businesses instead.
Past US fast-food chains like Taco Bell have failed in Mexico, closing all their restaurants there by 2010.
Chipotle’s leadership says they respect Mexican food culture and want to learn local tastes to grow carefully in Mexico.
Chipotle is partnering with Mexican company Alsea to open more restaurants in Nuevo León and plans to expand to Mexico City next year.
Besides the US and Mexico, Chipotle also operates in Canada, the UK, France, and Germany, and plans to open restaurants in South Korea and Singapore soon.
Locals note that US fast-food brands often struggle to succeed in northern Mexico, including in Monterrey.
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A surge in investment for data centers to support artificial intelligence is raising prices for electronics and electricity in the U.S. This trend is expected to keep inflation higher through the end of 2024, influencing Federal Reserve decisions on interest rates.
Key Facts
U.S. companies are investing around $700 billion this year in data centers for AI technology.
This strong demand is making memory chips and computer processors more expensive.
Prices of consumer electronics like laptops, smartphones, and game consoles are rising.
Electricity costs are increasing because data centers use a large amount of power.
Apple has raised prices on laptops and iPads by 15% to 25%, and Microsoft plans to raise Xbox prices by $100.
Inflation is predicted to stay above the Fed’s 2% target, partly because of these AI-related costs.
The Federal Reserve might increase interest rates to help control inflation.
This inflation pressure follows previous price rises from tariffs and energy costs linked to conflict in the Middle East.
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A former partner at Stratton Oakmont, the stock-trading firm that inspired "The Wolf of Wall Street" movie, spoke about his extreme lifestyle while working there. A new documentary on Paramount+ reveals more details about the firm's illegal activities and the personal toll on employees.
Key Facts
Howie Gelfand joined Stratton Oakmont at age 19 and quickly earned over $100,000 a month.
He eventually made more than $1.5 million a year at the firm.
Gelfand described his lifestyle as unhealthy, including struggles with weight, drugs, and alcohol.
He realized the firm’s business practices were illegal but thought it was normal for Wall Street.
The documentary "The Real Wolf of Wall Street" uses over 15,000 FBI and government documents.
The documents were obtained through the Freedom of Information Act by reporter Jason Leopold.
The three-part series is now available on Paramount+, part of the CBS News parent company.
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Federal Reserve Chair Kevin Warsh spoke for the first time before Congress since becoming the Fed’s leader. He described major changes the central bank is making to better manage inflation and the economy.
Key Facts
Kevin Warsh is the new chair of the Federal Reserve.
He appeared before the House Financial Services Committee for his first hearing as Fed chair.
Warsh emphasized efforts to change how the Fed deals with inflation.
These changes are described as a “sea change,” meaning a big shift in thinking.
The goal is to improve the Fed’s approach to economic issues.
Inflation management is a key focus of the Fed’s new strategy.
The hearing is part of regular Congressional oversight of the Federal Reserve.
Warsh’s testimony helps explain the Fed’s future plans to lawmakers and the public.
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Chipotle Mexican Grill is opening its first restaurant in Mexico this week, starting in San Pedro Garza García, Nuevo León. The company is partnering with Alsea, a local operator, and plans more locations in Mexico and other countries as part of its global expansion.
Key Facts
Chipotle’s first Mexico restaurant opens in San Pedro Garza García, Nuevo León.
The restaurant will serve its usual menu like burritos, bowls, salads, tacos, and quesadillas.
Chipotle is partnering with Alsea, which manages other brands like Starbucks and Domino’s in Mexico.
Additional Chipotle locations are planned in Nuevo León later this year and in Mexico City in 2027.
Monterrey is chosen for its strong economy, growing population, and business presence.
Taco Bell previously tried to succeed in Mexico but closed all locations by 2007 due to pricing and local food preferences.
Chipotle planned to learn local tastes carefully and respects Mexico’s culinary heritage.
Chipotle is also expanding internationally, with restaurants in the Middle East, Asia, Canada, and Europe.
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The U.S. government has refunded over $77 billion in tariffs during 2026 after the Supreme Court ruled most of President Trump’s tariffs invalid. These refunds have increased the federal budget deficit but have also given companies extra cash that some plan to use for lowering prices.
Key Facts
The Supreme Court struck down most of President Trump’s tariffs in a 6-3 decision in February 2026.
The court ruled the tariffs exceeded the powers of the 1977 International Emergency Economic Powers Act.
Around $166 billion was originally collected from 330,000 importers in tariffs that were invalidated.
As of June 2026, the government refunded $81 billion in tariffs for the fiscal year, including $49.2 billion in June alone.
The refunds caused the federal budget deficit to rise to $120 billion in June from a surplus of $27 billion the previous year.
Some of the refunded money is still tied up in legal battles as the administration appeals certain payments.
Companies like Walmart and PepsiCo plan to use their tariff refunds to reduce prices for consumers.
The refunds provided an unexpected financial boost to companies amid inflation concerns.
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Warren Buffett has stopped donating shares to the Bill and Melinda Gates Foundation after more than 20 years. Instead, he will now give the shares to four family-related foundations and plans to finish this by the end of 2034.
Key Facts
Warren Buffett promised in 2006 to donate shares of Berkshire Hathaway to the Gates Foundation every year for his lifetime.
He recently left the Gates Foundation off the list of recipients and will donate to four family foundations instead.
Buffett plans to give away all his remaining shares by December 31, 2034.
This change comes after Bill Gates’ connections to Jeffrey Epstein, a convicted sex offender, were publicly revealed.
Buffett said he has not talked to Gates since the Epstein information came out.
Bill Gates testified before the US House Oversight Committee about his ties to Epstein.
Melinda French Gates resigned from the foundation in 2024 and plans to donate $1 billion to support women's rights in the US.
The Giving Pledge, started by Buffett and the Gates in 2010, encourages wealthy people to give away most of their fortunes.
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A 67 million-year-old Tyrannosaurus rex fossil named "Gus" sold for £37.4 million ($50.1 million) at a Sotheby's auction in New York. It is the most expensive dinosaur fossil ever sold and is one of the most complete T. rex specimens, with over 60% of its bones recovered.
Key Facts
The fossil is a Tyrannosaurus rex, about 67 million years old.
It stands more than 12 feet (4 meters) tall.
Over 60% of the dinosaur's bones were found, making it very complete.
The fossil is called "Gus."
"Gus" was discovered in 2021 on a ranch in South Dakota, USA.
Sotheby's held the auction in New York.
The final sale price was £37.4 million or $50.1 million.
The winning bidder has not been publicly revealed.
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A high-yield savings account currently offers interest rates around 4.10%, much higher than the average traditional savings account rate of 0.39%. Depositing $10,000 into such an account could earn over $400 in one year, with higher earnings possible over multiple years if rates stay the same.
Key Facts
Traditional savings accounts have very low average interest rates, about 0.39%.
Inflation is currently about 4.2%, which means regular savings lose buying power.
High-yield savings accounts pay much higher interest, around 4.10% APY (annual percentage yield).
$10,000 in a high-yield account at 4.10% would earn about $410 in one year.
Certificates of deposit (CDs) offer similar or slightly better rates than high-yield savings accounts.
A 5-year CD at about 4.20% could earn roughly $2,284 on a $10,000 deposit.
Interest rates can change based on Federal Reserve policies, so earnings can go up or down.
High-yield savings accounts provide flexible access to money, while CDs often require leaving money untouched for a set period.
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Several Democratic state attorneys general have filed a lawsuit to stop the merger between Warner Bros. and Paramount. They argue that combining the two companies could harm competition in the entertainment industry.
Key Facts
Democratic state attorneys general are leading the lawsuit.
The lawsuit aims to block the merger of Warner Bros. and Paramount.
The merger would combine two major entertainment companies.
The officials are concerned the merger could reduce competition.
Antitrust laws are designed to prevent companies from becoming too powerful.
The lawsuit is a response to potential negative effects on the market.
Warner Bros. and Paramount are both key players in film and TV production.
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A nearly complete Tyrannosaurus rex skeleton called Gus sold for $50.1 million at a Sotheby’s auction in New York, setting a new record price for a dinosaur fossil. The fossil is about 61% complete and dates back around 67 million years, making it one of the largest and most complete T. rex skeletons ever found.
Key Facts
The T. rex skeleton, nicknamed Gus, stands about 12.5 feet tall and is roughly 38 feet long.
It consists of 183 bones plus many rare rib specimens.
Gus sold for $50.1 million, exceeding the auction house’s predicted price of $20 to $30 million.
Only seven bidders took part in the auction, which lasted about 10 minutes.
The skeleton was found on land owned by Gary "Gus" Licking in Harding County, South Dakota.
The fossil dates from the late Cretaceous period, about 67 million years ago.
Only 32 T. rex skeletons have ever been found, and Gus is 61% complete—one of the most complete ever discovered.
Two other well-known T. rex skeletons are Sue, displayed in Chicago, and Stan, displayed in Abu Dhabi.
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The U.S. population is aging quickly, with many baby boomers reaching retirement age. Senior living communities must change their approach to meet the new generation’s desire for more independence, wellness, and social engagement, or risk falling behind as demand grows.
Key Facts
About 12,000 Americans turn 65 every day, increasing demand for senior living.
By 2030, all baby boomers will be 65 or older, causing a big growth in older adults.
Donald Lilly, CEO of Still Hopes Episcopal Retirement Community, says existing senior living models are outdated.
Older adults now want wellness, meaningful connections, and community engagement, not just housing.
Many senior living places don’t meet these new expectations, creating a gap between supply and demand.
Still Hopes focuses on wellness programs that support physical health, brain health, nutrition, and social activities.
Active and socially connected seniors tend to stay independent and healthier longer.
New senior living developments are growing slowly while demand is increasing quickly.
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The article argues that to build resilience in agriculture, it is important to shift towards farming methods that are sustainable, varied, and smart about the climate. It suggests that this change is necessary to handle challenges like those highlighted by the Strait of Hormuz situation.
Key Facts
Resilience means being able to recover from difficulties or changes.
Sustainable agriculture uses methods that do not harm the environment.
Diversified agriculture means growing different types of crops or raising different animals.
Climate-smart agriculture focuses on farming practices that help adapt to or reduce climate change.
The Strait of Hormuz impasse refers to a situation affecting trade and supply routes.
Agricultural subsidies are government payments that support farmers.
The article suggests reconsidering these subsidies in light of the need for new farming systems.
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Jeffrey Epstein helped the Edmond de Rothschild bank settle a U.S. Justice Department probe into hiding assets, which earned him $25 million. Despite being a convicted sex offender, Epstein used his network and skills in negotiations to secure a large payment and assist the bank in ending the investigation.
Key Facts
The U.S. Justice Department started the Swiss Bank Program investigation in 2013 focused on Swiss banks helping Americans hide money.
Edmond de Rothschild bank faced possible major fines and charges from this probe.
Epstein connected with the bank’s leader, Ariane de Rothschild, soon after his 2011 release from jail and house arrest.
Epstein negotiated a deal involving the bank paying $45.5 million to the IRS and $10 million for legal fees.
Epstein received $25 million for his role in the settlement agreement.
Epstein claimed he wanted no financial gain initially but ended up earning a large fee.
The bank’s American lawyer, Kathy Ruemmler, appeared before Congress to discuss this matter.
Epstein’s work for other wealthy clients, like financier Leon Black, also brought in millions despite his criminal record.
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When a person dies, their debts do not automatically pass to their family members. Instead, the debts are paid from the deceased person's estate, which is the money and property they left behind. Family members usually are not responsible for paying these debts unless certain exceptions apply.
Key Facts
A deceased person’s debt is paid from their estate, not by family members personally.
If the estate does not have enough money or assets, the debt is generally forgiven and the creditor loses that money.
Family members are only responsible if they co-signed the loan or were joint account holders.
Authorized users on credit cards usually do not have to pay the debt.
Some state laws may make a surviving spouse responsible for certain debts.
If you inherit property with a mortgage, you must keep paying that mortgage to keep the property.
Debt collectors can only contact the estate’s executor about the debt, not other relatives, except to find out who the executor is.
You can legally tell debt collectors to stop contacting you if they wrongly make you feel responsible for a deceased relative’s debt.
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Warren Buffett announced he will not give donations to the Bill and Melinda Gates Foundation this year following disclosures about Bill Gates’ past connections to Jeffrey Epstein. Instead, Buffett will donate around $6 billion to four family-run foundations and plans to donate all his remaining Berkshire Hathaway shares, worth over $140 billion, to charity by the end of 2034.
Key Facts
Warren Buffett is skipping donations to the Gates Foundation this year after news about Bill Gates’ links to Jeffrey Epstein.
Buffett will donate about $6 billion to four foundations managed by his children and family.
He plans to give all his remaining Berkshire Hathaway stock to charity by December 31, 2034.
Previously, Buffett planned for his children to distribute his fortune after his death, but now he is accelerating this plan.
Most of Buffett’s past giving (over $61 billion) went to the Gates Foundation since 2006.
Bill Gates denies any wrongdoing and says he met Epstein only to raise money for charity.
Epstein died in prison in 2019, with his death ruled a suicide.
Buffett and Gates were close friends but have not spoken for months since Epstein’s files were made public.
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