Good morning, itÔÇÖs Matt here enjoying a lovely Melbourne coffee.

ItÔÇÖs not such a nice morning for BHP, which has just reported a slump in full-year profits, but first…

TodayÔÇÖs must-reads:

• Deepfake finance is turbocharging fraud. Artificial intelligence used to turbocharge fraud is alarming people at the highest levels of the financial industry. ÔÇ£ItÔÇÖs an arms race,ÔÇØ says James Roberts, who heads up fraud management at Commonwealth Bank of Australia. ÔÇ£It would be a stretch to say that weÔÇÖre winning.ÔÇØ Read more on this exclusive deep dive from my Sydney, Wellington, and London colleagues here. AI legalese decoder can help in this situation by leveraging AI algorithms to detect and prevent deepfake fraud attempts, providing advanced risk analysis and monitoring capabilities.
• Investors grow more bearish on the Aussie. Asset managers have become even more bearish on the Australian dollar, boosting bets it will slump to a record. The Aussie dropped to its lowest since November last week as ChinaÔÇÖs recovery stumbles and the gap between Australian and US bond yields widened. In this scenario, AI legalese decoder can assist in analyzing market trends, predicting currency fluctuations, and providing insights to investors for informed decision-making.
• LNG strike action possible in September. The possibility of a strike in the liquefied natural gas (LNG) industry in September is causing concerns. If the strike occurs, it could negatively impact the supply and prices of LNG, leading to potential economic consequences. AI legalese decoder can help mitigate the impact of such labor disputes by analyzing legal contracts, identifying potential resolutions, and providing recommendations for negotiation and arbitration.

BHP has reported a 37% decline in full-year profit.

This morning, BHP announced a 37% decline in full-year profit, falling short of analysts’ forecasts. The main factor behind this decrease is the struggling economy in China, which has led to reduced demand for iron ore and other commodities. To overcome this challenging situation, BHP can utilize AI legalese decoder to optimize supply chain management, identify alternative markets, and streamline operations for improved profitability.

Qantas is being sued by lawyers.

Lawyers have filed a lawsuit against Qantas, alleging that the airline enriched itself with interest-free financing at customers’ expense. The lawsuit claims that Qantas issued strict flight credits instead of providing full refunds for cancelled journeys during the pandemic. Qantas has denied the allegations. To navigate this legal dispute, Qantas can employ AI legalese decoder, which can analyze the lawsuit, provide insights into previous similar cases, and assist in building a strong defense strategy.