Business

A groundbreaking ABC investigation has uncovered how private Automatic Teller Machines (ATMs), operated by a convicted drug dealer, have played a pivotal role in laundering millions of dollars and facilitating Australia’s burgeoning illegal tobacco trade. At the heart of the story is Peter “Hippy” Wellman James, once the Northern Territory’s most prolific cannabis trafficker, who leveraged a legitimate ATM business—atm2go—to mask the origins of his vast cash haul and launder proceeds of crime. Disturbingly, the same ATM network has been installed in small tobacco shops across Queensland, enabling illicit tobacco sales and tax evasion with minimal regulatory oversight.

On June 17, 2025, the U.S. Senate delivered a landmark victory for digital finance by passing the “Financial Innovation and Technology for the 21st Century Act,” more commonly known as the Genius Act. Supported by a bipartisan coalition, the bill now advances to the House of Representatives, where it faces the choice of an up-or-down vote on the Senate text or reconciliation with the House’s STABLE Act. With President Donald Trump urging lawmakers to send him a “clean” bill “LIGHTNING FAST,” the Genius Act is on track to become the first comprehensive federal framework for “stablecoins”—blockchain-based tokens pegged one-to-one with the U.S. dollar or other high-quality liquid assets.

In a major vote of confidence for Western Australia’s flagship mining industry, global resources giant Rio Tinto and Hancock Prospecting have received final state and federal approvals to invest A$2.5 billion in the expansion of the Hope Downs iron ore operation in the Pilbara region. The approval covers the development of two additional open-cut pits—known as Hope Downs 2 North and Hope Downs 2 South—at the existing Hope Downs infrastructure hub, located roughly 1,200 kilometres north of Perth.

Australian drivers face the prospect of paying $2 a litre at the bowser in coming weeks after oil prices spiked on Monday in the wake of US airstrikes on Iranian nuclear facilities. The surge threatens to exacerbate household cost-of-living pressures and may prompt the Reserve Bank of Australia (RBA) to delay its next interest-rate cut until August.

What happens when a routine trip to the barber goes horribly wrong? For many Australians, the answer is hours—or even days—of embarrassment, itchy regrets and the desperate hiding of unruly hair under hats. A recent viral video of a tradesman storming out of a Melbourne barbershop over a lopsided buzz cut has reignited a national conversation about the traumatising power of a bad haircut. Guardian Australia invited staff from across our newsroom to share their own worst-cut stories. Their confessions paint a vivid picture of how a few misplaced snips can leave a lasting mark far beyond the salon chair.

Isabella, 20, discovered her love of practical work early—building Lego creations, helping in the garden and even crafting an electric guitar from scratch. Despite excelling in physics, metalwork and woodwork, her all-girls private school steered her firmly toward university, insisting on applications as a graduation requirement. Pressured by parents and teachers to view hands-on trades as “second best,” many students like Isabella never consider apprenticeships a viable path.

Analysis by the Australian Council of Superannuation Investors (ACSI) shows News Corp chief executive Robert Thomson earned nearly A$42 million in 2024, making him the highest-paid CEO among companies listed on the Australian Securities Exchange (ASX). Thomson’s pay package rose by about A$300,000 from the previous year, overtaking jewellery retailer Lovisa’s former top earner and Macquarie Group’s Shemara Wikramanayake.

Australia’s treasurer, Jim Chalmers, may soon confront a pivotal decision: whether to approve a $30 billion takeover bid for Santos, the nation’s largest oil and gas producer, by a consortium led by Abu Dhabi’s state-owned investment arm. The proposal has won unanimous backing from Santos’s board but remains contingent on complex regulatory approvals, including a critical Foreign Investment Review Board (FIRB) recommendation and ministerial consent. At stake are strategic energy assets, domestic gas security, and precedent for foreign investment under the re-elected Labor government.