The $2.3b market darling is expected to raise $150m after an extraordinary 5-month share price surge, but investors are split on whether the dream run can continue.
Finance and markets
Australia’s banks head into 2026 with Macquarie in the freshly minted ‘big five’ and the majors battling tech revamps, restructures, talent raids and regulation.
The post-COVID consensus that global tech companies could be built from Australia is under threat, with the AI boom and American exceptionalism luring local founders back to the US.
Rio Tinto laid out a new “stronger, faster, simpler” strategy just last month. Now its plans to create a sprawling mega miner through a merger with its Anglo-Swiss rival have been given an early vote of no confidence.
They offer subtly different products and target different customers, but payments fintechs like Airwallex, Wise, Revolut and YouTrip are threatening bank dominance and rapidly reshaping global finance.
