ANZ apologises after sacking 100+ bankers by automated email

Good morning. Here's what happened overnight and what you need to know today.

---

1.

Got mail: ANZ apologised after more than 100 senior staff were inadvertently informed they were being made redundant via an automated email ahead of planned “outcome conversations” with managers. The email, which included an exit date and instructions to return laptops, was first reported by Capital Brief after being sent in error earlier in the week. The incident prompted an urgent call with affected staff, where interim retail bank boss Bruce Rush apologised for the distress caused. A staff member described asking Ganesh Chandrasekkar, ANZ’s general manager for talent and culture in the retail division, if the email was a mistake. He confirmed that those who received it were being let go. ANZ offered psychological counselling and support services and has since brought forward one-on-one meetings. The bungle comes amid a broader restructure under new CEO Nuno Matos, who marked his first 100 days in the role this month and is expected to unveil a strategic overhaul in October. (Capital Brief)(FT)(AFR)

2.

Aussie outpost: OpenAI’s decision to open a Sydney office followed months of quiet planning, including early outreach from the Albanese government and a strategic banking partnership with Commonwealth Bank. OpenAI filed to register an Australian subsidiary in May and was already considering local expansion when its chief economist visited Canberra in June. Earlier this month, Labor’s Andrew Charlton spent a week pitching AI giants on Australia as a destination for investment. As revealed by Capital Brief, one of those meetings was with OpenAI COO Brad Lightcap - a meeting the USD300 billion ($459 billion) startup cited in its announcement. Lightcap, in a statement, said Australia’s government was “already shaping the future of AI.” The company will now begin hiring for technical, operational and go-to-market roles, a person familiar with the plans said. (Capital Brief)

3.

Econ push: The S&P 500 topped 6,500 to set a fresh record after a stronger-than-expected economic reading showed the US economy expanded at a 3.3% annualised pace in the second quarter, revised up from 3%, according to the Bureau of Economic Analysis. The gains were driven by stronger business investment and trade, while consumer spending rose at a 1.6% rate. Weekly jobless claims edged down to 229,000, easing recession concerns just ahead of Friday’s release of the Fed’s preferred inflation gauge, forecast to show the fastest core price rise in five months. Nvidia shares edged lower, reflecting cool demand for its AI chips in China, despite USD46 billion in quarterly sales and raised price targets from analysts. Elsewhere, Trump fired Centers for Disease Control and Prevention Director Susan Monarez, triggering the resignation of three other senior officials, who said the agency was being driven by ideology rather than science. (Bloomberg)(WSJ)

4.

Crypto move: The US government on Thursday (Friday AEST) began distributing gross domestic product data on public blockchains, which Commerce Department officials described as an additional, not replacement, method of publication. The department posted the “official hash of its quarterly GDP data release for 2025 — and, in some cases, the topline GDP number” to nine public blockchains, including Bitcoin, Ethereum and Solana, among others. The data was also disseminated through oracles Pyth and Chainlink, with publishing facilitated by exchanges such as Coinbase, Gemini and Kraken. “The Department will continue to innovate and broaden the scope of publishing future datasets like GDP,” it said. The initiative was led by Commerce Secretary Howard Lutnick and previewed at a White House cabinet meeting, where he told President Donald Trump it was happening “because you are the crypto president.” Earlier in his second term, Trump created a Bitcoin reserve and a stockpile of coins including Ether. His family has also backed ventures in Bitcoin mining and stablecoin issuance. (Capital Brief)(US Department of Commerce )(Bloomberg)

5.

Monetary independence: US Federal Reserve governor Lisa Cook filed a lawsuit challenging President Donald Trump’s efforts to fire her, igniting an unprecedented legal battle over the independence of the central bank. Trump announced on Monday that he would remove Cook over alleged mortgage fraud, citing “sufficient cause to remove you from your position.” The firing stems from allegations made by Federal Housing Finance Agency director Bill Pulte. The suit, filed in Washington, asks for a preliminary injunction that would allow Cook to continue to serve as a Fed governor while the courts examine the broader case. Cook claims that Trump’s attempted firing violated her due process rights under both the Constitution and federal law, CNN reports, and that Trump is attempting to redefine the meaning of “cause” in a way that would allow him to fire any board member “with whom he disagrees about policy based on chalked up allegations.” (Capital Brief)(Bloomberg)(CNN)(FT)(Axios)

6.

David v Goliath: The Tech Council of Australia's campaign to weaken copyright protections for AI companies has re-opened a debate in the tech community about whether it truly represents the interests of Australian startups or has become a mouthpiece for Big Tech. The controversy erupted after Tech Council chair Scott Farquhar used high-profile appearances, including at the National Press Club and on ABC's 730 program, to argue that Australia's copyright laws were hindering AI development and deterring investment in data centres. His comments have sparked debate within the broader tech community about whether the push primarily benefits large overseas technology companies at the expense of smaller Australian firms and their customers. Capital Brief reports that the tension reflects a fundamental challenge facing the Tech Council, which evolved from representing early-stage startups to courting larger, fee-paying corporate members capable of funding serious lobbying efforts. (Capital Brief)

7.

Scrip scrapped: PointsBet said that there is a “strong likelihood” that MIXI will gain “effective, if not actual” control of the company after its takeover offer closes on Friday, adding that it is preparing to offer Japanese entertainment group MIXI representation on its board. In an update filed on Thursday evening, PointsBet said that MIXI has reached a relevant interest in 46.72% of PointsBet shares, and that it continues to unanimously recommend that shareholders accept the MIXI takeover offer. Earlier this week, rival bidder Betr (which has a relevant interest of 19.6% in PointsBet as of 27 August) increased its offer for each PointsBet share it does not already own to 4.375 Betr shares, up from 4.219. Despite MIXI’s offer coming in lower than Betr’s, at either $1.25 per share or $1.30 per share if its proposal receives 90% support, PointsBet has maintained concerns about a deal with Betr. (Capital Brief)(ASX)

8.

Russia-Ukraine war: Russia launched a wave of drone and missile strikes on Kyiv early on Thursday morning in the deadliest attack on the capital city since July, defying US calls to end the fighting and damaging EU mission and British council buildings. The strikes across the city killed at least 19 people, including four children, and injured dozens. Russia deployed 31 missiles and 598 drones in the attack. President of the European Commission Ursula von der Leyen accused Russia of deliberately targeting the EU mission, while the UK’s foreign secretary condemned the strikes. Both the EU and UK summoned Russian diplomats. The attacks come one day before a Ukrainian delegation is set to meet with Trump's team in New York to discuss security guarantees for a peace deal. The Kremlin said its attack had hit military industrial facilities and air bases and that it was still interested in pursuing peace talks. (FT)(Bloomberg)(Wall Street Journal)(Capital Brief)(X)