Private equity giant TPG to buy listed flower supplier for $280m
The move follows TPG's $651 million bid for automotive software company Infomedia and highlights the private equity firm's strategy of acquiring public companies to consolidate market leadership in key sectors.
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Herald Sun
8 hours ago
- Herald Sun
A-League: Kucharski tipped for Perth move after United exit
Don't miss out on the headlines from Football. Followed categories will be added to My News. Perth Glory are the frontrunners ahead of Adelaide United to sign Jaiden Kucharski after the attacker was released by Western United just six weeks after joining the crisis-torn A-League club. United announced on July 8 that the former Sydney FC forward had signed a two-year deal with the Victorian outfit. However, United has been banned from registering 23-year-old Kucharski after being sanctioned by FIFA from doing so due to a financial dispute between the club and its former championship-winning striker Aleksandar Prijovic. The ban meant Kucharski, as well as club captain Ben Garuccio, who re-signed with United after becoming a free agent, were unable to play in the team's 1-0 Australia Cup round-of-32 loss to Sydney FC last month. Since then United's problems have worsened, with the club having been stripped of its A-League licence by Football Australia on August 8 for failing to meet the criteria required to compete in the national men's and women's competitions. Ex-Sydney FC forward Jaiden Kucharski has been released by Western United. Picture:United's financial woes include a multimillion-dollar tax bill reportedly owed by the club's chairman Jason Sourasis, and players and staff receiving their monthly wages late in April, May and June. The club announced in May that KAM Melbourne, a subsidiary of American company KAM Sports, would become United's new majority investor. However, the Australian Professional Leagues is yet to receive KAM Melbourne's full ownership proposal – understood to be worth $100m when including the purchase of the club's parent company Western Melbourne Group – and therefore cannot approve it. United has until 10am on Thursday to lodge its appeal against being stripped of its licence. In the meantime, United players – who this month were paid ahead of schedule and also received overdue superannuation payments – continue to train despite their futures remaining in limbo. However, Kucharski and United have mutually and 'respectfully' agreed to part ways due mainly to the FIFA registration ban. 'While the club is disappointed with this outcome, we respect the player's decision to pursue his career elsewhere,' United said in a statement. A handful A-League clubs are interested in Kucharski's services, but it's understood the Glory are leading the race, while Adelaide remains in contention. Western Sydney Wanderers have also made inquiries. Newcastle Jets, who were interested in Kucharski before he decided to sign with United, have not yet made another offer for the former Australian under-17 representative. Sydney FC coach Ufuk Talay said on Wednesday that a possible Kucharski return to the Sky Blues had been discussed within the club. 'He's one of our boys that have come all the way through the academy,' Talay said. 'We will always have Jaiden back. We'll always provide a platform and an environment for him to come back in, and try to give him that opportunity to take the next step again.' Originally published as Jaiden Kucharski's services in demand after his release from embattled Western United
Sydney Morning Herald
9 hours ago
- Sydney Morning Herald
The secret power lunch that could save musicians and authors from AI doom
Unions and Australian tech giants have agreed to work on a model to compensate musicians, authors and possibly media outlets for the content used to feed artificial intelligence tools. The in-principle undertaking, discussed at the government's economic roundtable, seemed impossible a fortnight ago when a debate blew up over the prospect of large language models, such as ChatGPT, learning from articles, songs and art without compensating creators. Cutting-edge AI tools 'learn' from digital content and then allow users to recreate the styles of artists, musicians and authors, sometimes yielding almost identical final results to copyrighted works, and in a fraction of the time. Workers and unions fear the results would devalue creative content. Atlassian co-founder Scott Farquhar was one of the top advocates in favour of AI Hoovering up content, declaring last month that copyright exemptions 'could unlock billions of dollars of foreign investment'. Farquhar was lobbied by Australian Council of Trade Unions assistant secretary Liam O'Brien at lunch – tuna sandwiches and sushi were on the menu for roundtable participants – on Wednesday in a small area near the federal cabinet room. Both men were attending the government's three-day economic reform roundtable. Loading Two sources familiar with the conversation between O'Brien and Farquhar, unauthorised to speak publicly, said the pair had a frank exchange over AI at which the tech mogul sought to understand workers' concerns. O'Brien's boss, ACTU secretary Sally McManus, said productive talks at this week's summit had created a breakthrough. 'There was discussion with the Tech Council [chaired by Farquhar] and the ACTU about wanting to address the issue of properly paying creatives, journalists and academics,' McManus said.
AU Financial Review
9 hours ago
- AU Financial Review
ASX closes above 9000 as bull market intensifies
The Australian sharemarket's key benchmark breached the 9000 point barrier for the first time on Thursday after a robust start to the August reporting season and hopes for more interest rate cuts in both the US and Australia turbocharged the equity rally. The historic achievement seals a stunning resurgence by the S&P/ASX 200 Index since it bottomed in early April, when US President Donald Trump's 'liberation day' tariff spree erased billions of dollars from the local bourse. Since then, the gauge has gained nearly 23 per cent, with fund managers tipping further advances.
