Australian logistical software giant WiseTech Global confirmed that the Australian Federal Police and market regulators executed a search warrant at its Sydney headquarters yesterday. The investigation focuses on alleged trading in WiseTech shares by its billionaire co-founder Richard White and three company employees between late 2024 and early 2025, according to a statement released to the ASX.
“So far as WiseTech is aware, no charges have been laid against any person and there are no allegations against the company itself,” the company stated. “WiseTech intends to fully co-operate with any investigation.”
The company, serving over 17,000 logistics companies globally, has been under significant leadership scrutiny in recent months, particularly concerning its co-founder Richard White. White, who resigned as chief executive last year but remains executive chairman, has been at the center of board upheaval due to personal controversies.
Social Media Platforms Brace for Under-16 Ban
Meanwhile, social media giants Snapchat, TikTok, and Meta have confirmed compliance with the Australian government’s impending under-16 social media ban, set to take effect on December 10. However, these companies warn of potential adverse effects on young users.
Snap Inc’s senior vice president of global policy, Jennifer Stout, expressed concerns at a senate inquiry, stating, “We will comply with the law, even though we believe it has been unevenly applied and risks undermining community confidence in the law.” She emphasized the importance of connection and communication for teens, suggesting that the ban might push them toward less secure messaging services.
Ella Woods-Joyce, head of public policy at TikTok, echoed these sentiments, arguing that their platform offers safety features that might not be available elsewhere.
Australia Strengthens Trade Ties with South-East Asia
In another development, Minister for Trade and Tourism Don Farrell highlighted the significance of Prime Minister Anthony Albanese’s visit to Malaysia. Speaking to ABC’s News Breakfast, Farrell emphasized the strategic importance of strengthening trade links with South-East Asia.
“After the Albanese government was elected in 2022, we set out a program to build our trade relationship with South-East Asia,” Farrell said. He pointed to the region’s economic potential, noting, “This is an area of the world with 700 million people. By the end of the decade, they’ll be the fourth-largest region economically in the world.”
Environmental Reforms Under Fire
Greens leader Larissa Waters has criticized the government’s upcoming environmental reforms, accusing Labor of capitulating to business interests. “These are not laws for nature,” Waters told ABC Radio National, arguing that the reforms serve big business rather than environmental protection.
The contentious legislation to update the Environment Protection and Biodiversity Conservation (EPBC) Act faces challenges in the Senate, with the government needing to negotiate with either the Greens or the Coalition. Opposition Leader Sussan Ley has suggested splitting the legislation, a proposal rejected by Environment Minister Murray Watt.
Hurricane Melissa Threatens Jamaica
Hurricane Melissa has intensified into a Category 5 storm, threatening Jamaica with catastrophic flooding and damage. Forecasters expect it to be the strongest hurricane to hit the island since record-keeping began in 1851.
Jamaican Prime Minister Andrew Holness expressed his concern, stating, “I have been on my knees in prayer.” Residents like Hanna Mcleod, a hotel receptionist in Kingston, are preparing for the worst by boarding up windows and stocking up on supplies.
“Melissa would be the strongest hurricane in recorded history to directly hit the small Caribbean nation,” said Jonathan Porter, chief meteorologist at AccuWeather.
As these major developments unfold, Australia and its neighboring regions brace for the impact of regulatory changes, environmental challenges, and natural disasters.
