Is Australia’s buy now, pay later boom at an end?
Afterpay has never turned a profit in Australia. Last month, it spent millions to take over a Sydney Olympic Park arena.
The company says Afterpay Arena will be the first venue where Australians can “buy now, pay later” for their event tickets, merchandise, dinner and even alcohol.
The deal to take the naming rights from a traditional lender, Qudos Bank, is the latest evolution for a sector that has rapidly expanded over the past decade. But as growth slows and players leave the market, is the buy now, pay later (BNPL) boom over?
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Albanese says he always does a ‘range of interviews’ amid criticism over melon comments
Albanese was just asked about a series of events for which he’s faced heavy criticism in the media, including his appearance on a comedy podcast that prompted an apology over his remarks on Kylie Minogue and his recent comments about a gift of melons from Japan’s prime minister.
Albanese said of the podcast comments, referred to as “melon-gate”:
I reiterate the fact that the interpretation that some have put on it was not correct. … I do a range of interviews … you can look at these things in hindsight.
In modern media, I talk to a range of people, many of whom I don’t agree with.
The issue of the relationship with Japan though, the relationship has never been stronger.
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Albanese says gambling inducements are ‘over the top’
Albanese said gambling inducements are “over the top and need to be wound back”.
The government is hopeful about getting its gambling reforms past parliament next week. The prime minister said:
Look, we’re working constructively across the parliament to put in place these reforms. They are important.
The problem is addiction and when someone has an addiction, if there are inducements that are encouraging that addiction, that’s a bad thing. There’s nothing wrong with people having a punt on a Saturday … the problem is if it’s an addiction.
He said he welcomes the “constructive discussions” the parties have had so far.
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Albanese says he had ‘productive’, ‘substantial’ call with Trump and Aukus still ‘full steam ahead’
Anthony Albanese is speaking in Canberra after he held a “productive” and “substantial” call with Donald Trump. He said the pair spoke about a “number of global and regional issues”, including the conflict in the Middle East and recent developments in the Pacific.
Albanese said the pair spoke about the Aukus submarine deal, which “remains full steam ahead”.
We agreed it was a project that is and will continue to deliver benefits for the United States, for Australia, and for the United Kingdom.
He said he raised the issue of tariffs, asking the president to consider full exemption or at the very least no increase of those in effect.
I always put forward Australia’s national interest during these discussions.
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Cherry-Evans confirms NRL exit
Daly Cherry-Evans has given himself every chance to book-end his NRL career with a second premiership, after confirming 2026 will be his last in Australia, AAP reports.
The Sydney Roosters star announced on Friday he would finish in the NRL at season’s end, before moving to the English Super League for a one-year swansong at Hull FC.
His exit will bring the curtain down on one of the NRL’s most storied careers, after making his debut at Manly in 2011 before his shock Sea Eagles exit at the end of last season.
At the age of 37, Cherry-Evans is the second-most capped player in NRL history and has a string of records including the most 40-20s ever kicked, most golden-point winners and most field goals in the NRL era.
He also captained both Queensland and Australia, helping lead the Maroons to three series wins and also claiming a Clive Churchill Medal in 2013.
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The prime minister will speak about the call in a few minutes, at 7.30am, Canberra time. We’ll bring you details from the presser soon.
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Albanese and Trump speak overnight
Anthony Albanese and the US president, Donald Trump, spoke overnight, the prime minister’s office confirmed.
Albanese is expected to say more about the call early this morning from Canberra.
The call comes a day after US defence official Eldridge Colby gave an endorsement of the Aukus nuclear submarine pact. Australia and the US are also discussing concerns about Trump’s latest round of trade tariffs and the ongoing Iran war.
More to come soon.
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Good morning, and happy Friday. We’re back to regular news today after another week in parliament. Nick Visser here – let’s get to it.
Parliamentary committee urges reform of whistleblower laws
The Labor-led parliamentary committee investigating KPMG’s audit leaks has put pressure on the Albanese government to reform laws that could have protected the scandal’s whistleblower.
The committee, which includes five Labor MPs, on 9 July asked Anthony Albanese to urgently fix whistleblower protections. On Thursday, it published a 30 July letter from Albanese’s assistant minister, Patrick Gorman, acknowledging the concerns and saying Treasury was reviewing tax and corporate whistleblower laws.
The committee also shared its submission to Treasury’s review, in which it said Australian law failed to protect the whistleblower and was “largely ineffective in deterring misconduct”.
The laws had issues that were “long standing, well known, and have been well-ventilated over many years”, demonstrated most recently by the KPMG whistleblower’s difficulties, the submission reads.
The committee said it had made dozens of recommendations in the past decade, unanimously backed by members across the political spectrum, and noted “the ongoing importance of all the recommendations made by the committee that have not yet been implemented by the government”.
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KPMG apologises to whistleblower as inquiry looms
KPMG has contacted the man who blew the whistle on its audit leaks scandal to apologise, ahead of an inquiry into its failures today.
The whistleblower was a KPMG employee who sent an email raising alarm in May 2024, in which he claims he was covered by Australia’s legal protections.
In a letter published by the inquiry committee, Mike Ebeid, KPMG’s new chair, offers a series of mea culpas.
Ebeid told the whistleblower that KPMG still believed not think his email was protected by Australia’s complex whistleblower laws. Ebeid said the firm had still treated the issue as if it were being raised as an official whistleblower issue and would not challenge the matter if a legal case was brought against it.
Ebeid has also admitted the firm did not ask its lawyers to investigate “every aspect” of the whistleblower’s allegations, meaning it did not look into some of the ethical issues now being examined.
He said KPMG had in April 2026 wrongly claimed it had “not substantiated” allegations of internal leaks because investigations by December 2025 had found confidential information was being shared.
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Man dies after house fire on NSW south coast
NSW police have declared a critical incident investigation into the death of a man who allegedly barricaded himself inside a home and started a fire.
Emergency services attended a unit on the state’s south coast at about 1.15pm on Thursday, after reports of concern for the man’s welfare.
Authorities were forced to gain entry to the unit and extinguish the fire.
The 57-year-old man was treated for his injuries at the scene but could not be revived.
The man has yet to be formally identified. A report will be prepared for the coroner.
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Welcome
Good morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.
KPMG has reached out to apologise to the man who exposed its audit leaks scandal before an inquiry into its failures today, while Labor MPs want the government to do more to protect whistleblowers. More coming up.
NSW police have declared a critical incident investigation into the death of a man who allegedly barricaded himself inside a home in Bomaderry and started a fire. More details coming up.
