Ahead of this week’s annual meetings of the members of the International Monetary Fund (IMF), the organisation predicted that countries accounting for as much as a third of the global economy would experience recession this year or next. This was said to be increasing the chance that the global economy will experience a trough, and that would mean the loss up to US$4 trillion of output by the end of 2026.
Closely following its recent AUD $140M Series B funding announcement,Morse Micro, a fabless semiconductor company reinventing Wi-Fi for IoT, announced another key milestone—FCC certification for its Wi-Fi HaLow Module (MM6108-MF08251) which contains the Wi-Fi HaLow SoC (MM6108).
The third consecutive 0.75 percentage point increase in official rates by the US Federal Reserve had a significant impact on markets this week. The policy change was supported by a downgrade in the Fed’s economic growth forecasts, with an associated expectation of consistently high inflation.
Australian Agtech startup, BioScout, is leading the world in monitoring and preventing crop disease. As well as potentially reducing crop waste, and costs and usage of chemicals, in the developed world, this technology has the potential to make a significant difference to food self-sufficiency and famine prevention across the developing world.
Stoic property partner Elanor Investors Group is reportedly hoping to sell one of its premium assets, Peppers’ Cradle Mountain Lodge in Tasmania, and is confident it can secure a $100 million price tag in the current market, despite its book value of $73.5 million.
Australia’s largest semiconductor maker, Morse Micro, has banked a $140 million funding round, backed by Japanese chip giant MegaChips, with a view to using its vast network to turbocharge the manufacture and distribution of its energy efficient, long-range WiFi HaLow chips.
The death of Queen Elizabeth II has dominated the news since Friday. Alongside this, the flow of political and financial news has been reduced by decisions to suspend both the Australian and UK parliaments except for ceremonial purposes, a number of financial and policy announcements have also been delayed (including the next interest rate decision by the Bank of England), and all planned industrial action by unions in Australia has been cancelled.
Biotech startup OccuRx has raised $16 million to fund clinical phase studies for its oral therapy to treat chronic kidney disease (CKD), a leading cause of death.
