The Australian share market has experienced a sharp downturn, with the ASX hitting a three-month low following a US Federal Reserve announcement that rattled global financial markets. A cautious sentiment over interest rate cuts and the potential return of Donald Trump to the presidency has fuelled uncertainty, erasing billions from the market over consecutive days.

$42 Billion Wiped Out as ASX Tumbles

The nation’s biggest bank, Commonwealth Bank of Australia (CBA), was among the hardest-hit entities during this week’s sell-off. On Friday alone, CBA shares plummeted by 3.6 per cent, reflecting broader concerns about inflation and monetary policy. The ASX 200 closed at 8067.70, down 1.29 per cent for the day and marking its lowest point since September.

Over the week, the index shed nearly 3 per cent, with banking and consumer discretionary stocks bearing the brunt of the losses. The sell-off amounted to a jaw-dropping $42 billion erased from the market capitalisation, leaving traders and investors grappling with the implications of the Fed’s policy forecasts.

The week started on a sour note after the Federal Reserve cut interest rates by a quarter point and revised its interest rate outlook for 2025, reducing cuts from three to two. The news triggered volatility in global markets, with US and Australian benchmarks reacting sharply.

US Fed Sparks Global Markets Uncertainty

Global uncertainties surrounding the return of Donald Trump to the White House and his proposed economic policies appear to have contributed significantly to the market upheaval. Among Trump’s key strategies are potential major tariff hikes, tax cut extensions, and mass deportation policies—all of which spell unpredictability for global markets.

Jerome Powell, chair of the Federal Reserve, referenced the incoming administration’s potential policies as a factor in shaping the central bank’s cautious stance.

“We don’t know what’ll be tariffed from what countries, for how long, and what size,” Mr Powell said. He warned that with heightened uncertainty over economic policies, the central bank is adopting a conservative approach when considering rate adjustments.

Notably, the Federal Reserve must balance its dual mandate of controlling inflation and unemployment while accounting for external pressures like government policy. The caution displayed in its decision to limit forecasts for rate cuts signals its intent to stay prepared for inflationary risks.

Steve Englander, head of G10 FX Research at Standard Chartered, suggested this move may have been designed to convey a restrained yet clear warning. “There are reasons not to be that pessimistic, and yet they chose to be that pessimistic,” he said. “It’s hard to avoid the signal that they wanted to send a message.”

Banking and Key Stocks in Freefall

The fallout from these developments left Australian markets in a risk-averse mood while banks and major sectors bore significant losses. Commonwealth Bank took the heaviest blow, logging a 3.6 per cent decline on Friday, compounded by similar losses earlier in the week.

NAB and Westpac also slipped 2 per cent and 1.3 per cent, respectively, due to the dented market sentiment affecting financial institutions. Consumer discretionary sectors echoed this cautious stance, with Wesfarmers dropping 3.7 per cent following the sale of its Coregas business for $770 million.

Mining and biotech stocks faced notable challenges as well, with Bellevue Gold falling 5 per cent due to declining gold prices. Biotech firm Mesoblast nosedived 21.5 per cent after a competitor secured US regulatory approval for a groundbreaking cell therapy, prompting profit-taking by investors.

Some Bright Spots Amid a Tough Week

Amid the wide-reaching sell-off, a few stocks managed to buck the trend with modest gains. HMC Capital rose 3.2 per cent after rebounding from last week’s poor market performance, while Integral Diagnostics climbed 1 per cent following a successful merger with Capitol Health.

Ventia, a service provider, reported a 3 per cent gain after it announced a five-year deal with Telstra. Positive news from De Grey Mining regarding its Hemi Gold project also resulted in a 1.4 per cent rise for the company’s shares. Meanwhile, Woodside gained 1.3 per cent despite receiving a sell rating from Citi analysts after finalising a $34 billion LNG asset swap with Chevron.

These modest gains offered a glimmer of hope during what was otherwise a tumultuous week on the ASX.

A Risk-Averse Year-End for the ASX

The Federal Reserve’s latest policy adjustments and the persistent risk factors stemming from global political shifts have created a challenging environment for investors. Australian stocks have taken a hit, and it remains to be seen whether markets will stabilise before year-end.

Source

news.com.au

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Australians could soon find themselves navigating contrasting payment rules, where cash is welcome at their local supermarket but sidelined at bottle shops. The government is currently exploring mandates to ensure cash continues to circulate within the economy—raising questions about which businesses will be bound to accept it and under what conditions.

This proposed shift could entirely reshape how Australians pay for their everyday essentials versus discretionary purchases. Here’s what businesses need to know about this push towards mandatory cash acceptance and the potential implications.

Cash in Decline, But the Government Steps Up

Cash usage has nosedived in Australia, now accounting for less than 13 per cent of all transactions nationwide. Digital alternatives such as tap-and-go, mobile wallets, and direct transfers have risen to prominence—leaving cash on the periphery for many consumers.

However, in response to financial instability within the cash-moving industry and concerns over accessibility, the government has announced plans to mandate the acceptance of cash payments starting in early 2026. The objective is clear—keep cash a viable option for Australians who rely on it.

The question, however, revolves around who will be required to comply with these mandates and how.

Defining Essential Businesses

The government’s discussion paper outlines that businesses providing “essential goods and services” will likely fall under the cash acceptance mandate. Supermarkets, pharmacies, general practitioners, petrol stations, and hardware stores top the preliminary list of those considered essential.

On the other hand, certain businesses, such as bottle shops, jewellers, cafés, and hairdressers, appear to be excluded. The distinction between essential and non-essential businesses could create a sharp division in payment practices between these categories.

This differentiation means consumers could pay cash for groceries or school supplies but find their dollars turned away when purchasing a takeaway latte or a carton of beer. While the government aims to ensure cash remains a payment option in vital sectors, businesses classified as non-essential might continue their gradual transition to card payments.

Balancing Business Compliance and Consumer Convenience

To balance the interests of businesses and consumers, the government is considering flexible approaches. One proposal involves setting limits on cash payments, allowing affected businesses to accept cash only up to a certain dollar amount.

This measure could alleviate the logistical burden of handling large cash transactions while maintaining the utility of cash for smaller purchases.

Another suggestion includes limiting mandatory cash acceptance to specific trading hours, such as from 6 am to 10 pm. This would reduce the strain on businesses while ensuring consumers have an avenue to use cash when needed.

Potential Penalties for Non-Compliance

While the mandate’s announcement intentionally lacked provisions for strict penalties, the discussion paper raises the prospect of deterrents. Businesses that fail to accept mandated cash payments could face penalties enforced by the Australian Competition and Consumer Commission (ACCC) or other regulators.

Private customer class actions are also being floated as a possibility. This could allow consumers to hold businesses accountable through legal recourse if they refuse to accept cash or impose added surcharges on cash transactions.

Such measures will likely challenge businesses to adapt quickly, ensuring compliance not only with legal requirements but also with shifting consumer expectations.

What This Means for Bottle Shops and Other Excluded Businesses

For businesses like bottle shops, cafés, and takeaways—likely exempt from cash mandates—the freedom to continue the shift toward card payments offers both opportunities and challenges.

On the plus side, going fully cashless can streamline operations by reducing time spent cashing up at the end of the day, lowering the risk of theft, and minimising errors during transactions. Additionally, this reduces costs for managing cash with third-party services such as cash in transit or sorting services.

However, businesses opting for card-only models could risk alienating a segment of the population that still depends on cash. Elderly customers, those in rural areas, or individuals with limited access to digital banking may find themselves excluded, potentially leading to reputational setbacks for these businesses.

The challenge, then, lies in finding the balance between operational efficiency and inclusivity.

Will This Impact Consumer Behaviour?

For consumers, the move to mandate cash acceptance for some businesses but not others may further entrench existing behaviours. Those relying on cash will likely appreciate the protections and convenience of being able to use it for everyday essentials.

However, the increasing ease and ubiquity of card and mobile wallet payments may continue to shift broader consumer preference toward digital transactions. This polarity in payment habits might make customers more selective about where they shop, particularly for discretionary goods, based on payment options available.

Businesses finding themselves exempt may also notice a gap in consumer trust if they choose to outright decline cash payments. Transparency and customer communication will be pivotal to navigating this shift without alienating key clientele.

What Small Businesses Need to Know

Small businesses—especially those working in sectors deemed non-essential—face critical decisions. Aside from knowing whether they are exempt, they must strategically plan their payment offerings in ways that align with community expectations without disrupting daily operations.

The government has proposed that some small businesses, particularly those with lower turnover, could receive exemptions from compliance mandates altogether. However, this will depend heavily on the type of goods or services they provide to consumers.

Moving Forward

While cash usage may be declining nationally, the government’s cash acceptance mandate signals its significance isn’t entirely lost. Australia’s payment landscape is on the brink of transformation, underscoring the need for businesses to adapt thoughtfully.

Whether mandated to accept cash or operating in categories exempt from requirements, all businesses must evaluate how payment flexibility fits into their broader strategies. The combination of operational efficiency, consumer ease, and legislative alignment will be essential moving forward.

Source

The Sydney Morning Herald

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Innovation has never been more crucial in the digital age, and businesses are increasingly turning to GitHub for a competitive edge. Organisations such as Mercedes-Benz, Shopify, and Mercari have harnessed the power of GitHub to revolutionise their development processes, fortify security protocols, and accelerate innovation. From streamlining eCommerce operations to simplifying complex CI/CD pipelines, these success stories illustrate just how transformative GitHub can be.

This case study highlights how a leading retail company partnered with Coveros to successfully migrate to GitHub, addressing challenges such as fragmented workflows, complex repository migrations, and outdated automation. Through strategic planning, process optimisation, and team empowerment, the migration streamlined operations, enhanced collaboration, and modernised development practices. This transformation demonstrates GitHub’s value as a platform for driving innovation and achieving sustainable growth.

The Challenge

The retail organisation’s objective was clear—leverage GitHub’s robust platform to enhance Continuous Integration/Continuous Deployment (CI/CD), strengthen security, improve collaboration, and standardise processes. However, like many enterprises, they faced significant hurdles that hindered progress.

1. Fragmented Processes

The organisation lacked standardisation across teams, leading to inefficiencies and inconsistencies in workflows. Teams were using disparate tools and methods, making collaboration laborious and complicating CI/CD implementation. The absence of a unified process not only slowed down development timelines but also left vulnerabilities unchecked.

2. Complex Repository Migration

The company had an enormous volume of essential data stored across multiple repositories. A migration of this scale required meticulous planning to ensure a seamless transition without compromising their operations. Additionally, the intricacy of navigating these repositories demanded a tailored approach.

3. Limited Automation Capabilities

Their existing CI/CD pipelines were outdated and inefficient. Without proper automation, developers spent excessive time on repetitive tasks, limiting their ability to focus on high-value innovation work.

4. Need for Team Empowerment

Developers and teams lacked the training and confidence to fully utilise GitHub’s expansive suite of tools. For the migration to succeed, the company needed to empower its employees with knowledge and hands-on experience while ensuring collaboration improvements. The end goal was to build a robust foundation for future innovation while smoothing the migration process.

The Solution: A Partnership with Coveros

Recognising the complexity of the challenge, the company partnered with Coveros, a consultancy specialising in optimising software development practices. Together, they executed a three-part strategy tailored to the organisation’s unique needs.

1. Strategic Planning and Customisation

The first step was collaboration. Coveros worked closely with the company to understand its specific goals, challenges, and priorities. Through joint workshops and consultations, they developed a customised migration plan.

This strategy included prioritising the most complex repositories for migration, ensuring critical lessons were learned early in the process. By taking this phased approach, teams gained confidence and familiarity with GitHub’s platform before tackling simpler repositories.

Additionally, Coveros incorporated the organisation’s inputs into the migration framework, fostering a sense of ownership among team members. This alignment was critical for project buy-in and long-term adoption.

2. Process Streamlining and CI/CD Optimisation

To address fragmented workflows, Coveros implemented standardised processes and integrated tools across projects. By streamlining CI/CD pipelines, the company achieved significant operational efficiency.

Automation played a key role here. GitHub Actions allowed them to automate repetitive development tasks, such as testing and deployment, while improving accuracy. This shift freed up developers to focus on innovation, speeding up delivery timelines and enhancing collaboration.

Standardised processes also reduced ambiguity, making it easier for cross-functional teams to align on project objectives. The result? A seamless and consistent workflow across the organisation.

3. Controlled Migration with a Focus on Empowerment

Unlike disruptive migrations, Coveros opted for a controlled and measured approach. By starting with high-priority modules, they ensured teams developed hands-on experience while receiving ongoing support.

Weekly training sessions helped developers and project managers gain deep insights into using GitHub’s advanced features, such as Copilot, which leverages AI for coding assistance, and GitHub Advanced Security for identifying vulnerabilities.

Equipping teams with these skills translated to increased confidence and ownership. Over time, smaller repositories were migrated independently by in-house teams, providing further efficiencies.

Results: Measurable Impact and Sustainable Growth

The partnership between the retail organisation and Coveros delivered remarkable results, strengthening GitHub’s impact across the company.

1. Rapid Adoption

Within the first month of migrating to GitHub, company usage surged by 300%, showcasing immediate and enthusiastic adoption among developers. This momentum continued, with an additional 33% growth in users over the next six months.

The user-friendly interface, paired with structured training, encouraged developers to fully leverage GitHub’s capabilities. Over time, the company reported a marked increase in productivity as employees grew confident navigating the platform.

2. Improved Efficiency and Collaboration

Automation through GitHub Actions had a massive impact. Previously repetitive tasks were now handled effortlessly by the platform, freeing development teams to focus on high-priority, creative work.

Additionally, the standardised process improved cross-team collaboration, reducing bottlenecks and enhancing the coordination of shared projects. This newfound cohesion extended to improved communication between developers and testing teams, ensuring faster feedback cycles and reduced errors.

3. Empowered Teams

Training and mentorship proved invaluable. Developers gained first-hand experience with innovative features such as GitHub Copilot, which reduced mental fatigue and maintained their creative flow, while test script automation integrated seamlessly with development workflows.

The company’s teams no longer viewed GitHub merely as a platform—they saw it as an extension of their innovation efforts. With Coveros empowering them, employees set the foundation for sustained growth and productivity—even beyond migration.

Why GitHub is Essential for the Future of Enterprise Software

This case study underpins the broader value that GitHub delivers to modern enterprises. Its unique combination of automation, security, and AI capabilities makes GitHub an indispensable tool for driving innovation in software development.

• GitHub Copilot reduces time spent coding while fostering creative problem-solving.
• GitHub Actions automates mundane tasks, improving efficiency.
• GitHub Advanced Security secures codebases from vulnerabilities during development.

The collaborative focus within GitHub also ensures testing, coding, and deployment are aligned, creating a cohesive development cycle. Businesses using GitHub gain not just a competitive edge but also the ability to future-proof their operations as they scale.

Microsoft Acquires GitHub for $7.5 Billion

Microsoft announced its acquisition of GitHub for $7.5 billion in 2018. This strategic partnership aims to enhance GitHub’s growth and integrate Microsoft’s developer tools and services with new audiences. By joining forces, Microsoft and GitHub are committed to fostering developer freedom, openness, and innovation, ensuring that GitHub remains an open platform for all developers across various industries. This acquisition underscores the pivotal role GitHub plays in driving software development and innovation globally.

GitHub’s Transformative Impact on Global Industries

GitHub’s success stories also highlight its pivotal role in driving innovation and efficiency across diverse industries. Companies such as Duolingo and Accenture have harnessed GitHub Copilot to enhance developer productivity and expertise. Postmates employs GitHub Advanced Security to proactively identify vulnerabilities, while Carlsberg Group leverages GitHub Enterprise to accelerate innovation. TomTom and EY integrate GitHub with other tools to boost productivity and maintain a competitive edge. CloudZero uses GitHub to maintain agility, enabling rapid production cycles and robust security practices, while Shopify streamlines its vast eCommerce operations with GitHub Actions and Advanced Security, facilitating seamless scaling and innovation. These stories collectively underscore GitHub’s transformative impact on development processes, empowering organisations to innovate swiftly and securely across various sectors.

Source

Microsoft News

Coveros

Github

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