Friday, 9 October -

Good morning, it’s Friday, 9 October. In your Squiz Today…

• Oz AI company Firmus’ plans to float on the ASX look wobbly as investors get cold feet

• President Donald Trump says the US won’t strike Iran before the midterms

• And the 194yo tortoise with anti-aging secrets…🐢

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🙋🏻‍♀️ This newsletter was written by Andrew Williams, Anna Pykett, Larissa Huntington and Sophie Felice

Squiz the Weather

Squiz Sayings

Said Woolworths GM of bags, Rhonda Ma, about the supermarket’s decision to embrace the term ‘bachelor’s handbag’ (the clear bag a rotisserie chicken comes in) by creating a thermal bag in its honour. You can nab one for $10 from 14 October. Move over, Birkin…

Questions over Firmus float

The Squiz

Over the last few months you might have been hearing about an Aussie AI company called Firmus that builds and runs data centres - it’s trying to pull off one of the biggest stock market floats in Oz history. There’s been a lot of hype - it’s been described as our SpaceX moment - and some brokers said the company was set to become bigger than Woolies or Coles. But its plans to list on the ASX this month are looking a bit wobbly. Its $44 billion valuation is under threat, with some reports saying it might press pause on its float plans.

Tell me more…

Firmus was started by entrepreneur Oliver Curtis and his 2 business partners in Sydney in 2019. His name might be familiar because he was convicted in 2016 when he was 30yo for conspiring to commit insider trading (which he served jail time for). He’s also the husband of high-profile publicist and influencer Roxy Jacenko - another reason this yarn gets attention. So Firmus builds data centres specifically for AI, full of in-demand gear like Nvidia graphics processing units (computer chips considered to be digital gold). It says it uses a lot less water to cool its facilities down than competitors, and it also claims to have the lowest running costs in the sector, which has helped it attract customers like Meta and OpenAI, and investors like Nvidia and US private equity firm Blackstone. 

So what’s happening now?

Firmus plans to have 7 AI data centres across Oz, Singapore, Indonesia and Malaysia, but most of its value rests on facilities it hasn’t built yet - currently only 2 are operational, and plans to build in South Oz and Tassie have faced resistance. It was looking on track to have Australia’s largest initial public offering since the Telstra float in 1997. But despite early interest from investors, reports say many refused to buy at $11 a share, and they say Firmus could drop the asking price to around $8. In terms of what this all means, plenty of people have been asking if we’re in an AI bubble - when investor excitement pushes prices too high before they come crashing down. Firmus is one of the biggest local tests of that question yet, so we’ll have to wait and see if its float goes ahead on 23 October.

Time to get organised

If you live in Sydney, Melbourne, Brisbane, Perth, Adelaide or Canberra consider this your reminder to start to clear out your wardrobe because next Saturday, 17 October is the Uber x Australian Red Cross Clothing Drive. At no cost to you, you can order a Courier pick-up through the Uber or Uber Eats app and your donation will be collected from your doorstep and delivered directly to an Uber x Australian Red Cross clothing drive donation site. A wardrobe tidy-up and donating to a good cause, all in one. More details here.

Squiz the Rest

Donald Trump says the US won’t attack Iran before the midterms 

The US President says his team is having productive talks with Tehran, after it emerged yesterday that his administration was planning possible new strikes before Americans go to the polls in less than 4 weeks. This is a shift in tone from Trump, who said he didn’t want a deal with Iran earlier in the week. As a reminder, in June both countries agreed to discuss how to bring the war to an end, but those talks broke down. But US media reports have pointed out that Trump’s change of heart could be to do with support for the war among Americans dropping. Cost of living pressures have been a big issue on the campaign trail in the US, and 7 months into the conflict, fuel prices are ⁠US$1 higher per gallon than before the war started. We’ve not heard from Iran on this development yet, so we’ll have to see what happens between now and the midterm vote on 3 November.

Former Prince Andrew has won a legal challenge

On Tuesday, we told you that the King’s brother was challenging the lawfulness of the search warrants used to raid his properties when he was arrested on suspicion of misconduct in public office in February. This was to do with allegations that he shared confidential information with the late convicted sex offender Jeffrey Epstein when Mountbatten-Windsor was a UK trade envoy - he’s always denied any wrongdoing. A High Court judge quashed the warrants after police conceded they were unlawful - essentially, they were granted under the wrong legal power. But the investigation isn’t over. Police want to keep the evidence seized at Sandringham and Royal Lodge, which Mountbatten-Windsor is fighting, and that’ll be decided at a separate hearing next year.

The ATO says no…

That’s to credit card payments for tax bills from 1 December. With a national ban now in place on surcharges for payments by card, the tax office reckons it’s in a bind. It says it can’t absorb surcharges because it’ll mean they’re effectively being paid for by taxpayers. And while they might seem tiny at 1% to 2%, the ATO says it could lump the community with a bill of $200 million a year. Its answer: stop accepting payments by credit card. But the decision’s upset small business owners who say paying that way frees up cash flow. The Australian Chamber of Commerce and Industry has called on the federal government to intervene with the ATO on behalf of small businesses, many of whom are already doing it tough due to higher fuel and energy costs.

Sandpapering over the cracks

Our men’s Australian cricket team is beginning a 3-match Test series against South Africa today, their first in the country since 2018. That was when the infamous ‘sandpapergate’ cheating incident happened in Cape Town - the one where Aussie player Cameron Bancroft was caught by TV cameras using sandpaper on the ball to gain an unfair advantage. That was a huge deal, leading to suspensions for multiple players including then-captain Steve Smith, and hurting the reputation of our national men’s side. Now, 8 years later, the team (including Smith) is back in the country where it all went south - and the locals aren’t missing the opportunity to remind them what happened. Today’s first Test begins in Durban, and let’s hope no one’s in scratchy form this time around…

Slow and steady wins the race… to old age

Scientists have studied the genetic makeup of the world’s oldest known living land animal - a 194yo giant tortoise named Jonathan - in the hope of unlocking clues for living longer. And this guy’s seen some things - Jonathan was born around 1832 when Charles Darwin was just 22yo and hadn’t yet formed his theory of natural selection - aka survival of the fittest. The tortoise now lives on the island of Saint Helena off Africa’s west coast, and apart from cataracts leaving him nearly blind, he has great hearing and a reportedly strong libido. After studying his genes, scientists found patterns that help repair damaged DNA, regulate metabolism and prevent cancer. Basically, parts of his DNA behave like a much younger animal’s. The scientists have got more work to do to prove their theory - but at this rate, Jonathan isn’t going anywhere…

Friday Lites - 3 things we liked this week

Reality TV game show The Celebrity Traitors UK is back with an amazing cast, including Richard E Grant, Michael Sheen, Jerry Hall and a heap of comedians. It’s hosted by British national treasure Claudia Winkleman and set in a gorgeous castle in the Scottish Highlands, and we think it’s a lot of fun. You can watch the first few eps on Ch10…

We’ve been gripped by the Aussie drama series Last Seen… It stars Patrick Brammall as a father/ex-cop on the trail of his missing daughter. Apart from showcasing Brammall’s acting chops, it’s beautifully shot. The final ep dropped last night on Apple TV, so it’s fully bingeable - you’re welcome… 

Anyone else missing Honey Jumbles on supermarket shelves? Don’t fret, we’ve found the OG Arnotts recipe, thanks to Taste.com.au. They’re pretty easy to make, and if you’ve got kids searching for snacks on school holidays, they might even enjoy helping…

Squiz the Day

Friday
9.00am (AEDT) - Final day of this round of public hearings in the Joint Select Committee on AI - Melbourne

9.30am (AEDT) - First case management hearing for Adidas's case against Aussie clothing brand White Fox Boutique for a trademark infringement over 4-stripe clothing, similar to Adidas's 3-stripe logo - Sydney 

10.00am (AEDT) - PAX Aus Gaming Festival begins (until 11 October) - Melbourne 

10.30am (AEDT) - The Tropfest short film festival 2027 season launch

1.50pm (AEST) - Cricket: First Women's One Day International Australia v Bangladesh - Albion, watch on 7plus

6.30pm (AEDT) - Cricket: First Men's Test South Africa v Australia begins (until 13 October) - South Africa, watch on Kayo

8.00pm (AEDT) - Court appearance for Joshua Kerry, who is separately accused of the murder of former British minister Ann Widdecombe, on fresh terrorism charges related to a break-in attempt into Reform UK leader Nigel Farage's home - London 

8.00pm (AEDT) - Nobel Peace Prize announced - Oslo, watch the livestream on YouTube

The Lester Prize for Portraiture winner will be announced from 40 finalists - Perth 

Czech Republic Senate elections (until 10 October)

Kevin Parker of Tame Impala kicks off his Australia tour in Brisbane 

Troye Sivan's new album She's the Best set to be released 

Independence Day in Uganda

Peter Norman Day

World Egg Day 🍳

World Post Day

Birthdays for model Bella Hadid (1996) and director Guillermo del Toro (1964)

Anniversary of:

• the premiere of The Phantom of the Opera in London (1986)

• John Lennon’s birthday (1940)

• then-PM Julia Gillard's misogyny speech in Parliament (2012) 

• activist Malala Yousafzai being shot by a Taliban gunman on her school bus in Pakistan (2012)

Saturday
5.30am (AEDT) - Football: Matildas v Germany game in preparation for next year's FIFA Women's World Cup - Karlsruhe, watch on Paramount+ 

5.10pm (AEDT) - Rugby union: Bledisloe Cup game one, All Blacks v Wallabies - Auckland, watch on 9Now 

Conservative Political Action Conference (CPAC) featuring One Nation Leader Pauline Hanson, Coalition Leader Angus Taylor and Nationals Leader Matt Canavan. They’ll be interviewed by Karl Stefanovic, and former UK PM Liz Truss will also speak (until 11 October) - Brisbane

🇹🇼 Taiwan's National Day 

Party Foundation Day in North Korea, marking the anniversary of the foundation of the Workers' Party of Korea 

World Mental Health Day

World Homeless Day

World Porridge Day 

Birthdays for author Nora Roberts (1950) and Van Halen frontman David Lee Roth (1954) 

Anniversary of:

• the first dinner jacket (tuxedo) being worn in the US to an autumn ball at Tuxedo Park, New York (1886)

• the formation of the Women's Social and Political Union by Emmeline Pankhurst to fight for women's rights in Britain (1903)

• the release of the Beach Boys' Good Vibrations (1966)

Sunday
6.15am (AEDT) - The Melbourne Marathon is on - Melbourne 

10.00am (AEDT) - National Commemorative Service for the 25th anniversary of Australian service in Afghanistan - Canberra, watch on ABC

1.50pm (AEST) - Cricket: Second Women's ODI Australia v Bangladesh - Albion, watch on 7plus

11.00pm (AEDT) - Motorsport: Formula One Singapore Grand Prix - Singapore, watch on Kayo 

International Day of the Girl

International Coming Out Day 🏳️‍🌈

Start of National Carers Week (until 17 October) 

Birthdays for actor and comedian Dawn French (1957), actor Joan Cusack (1962) and rapper Cardi B (1992)

Anniversary of:

• the inauguration of the University of Sydney, Australia's oldest university (1852)

• the premiere of Saturday Night Live, with George Carlin as host (1975)

• a wedding anniversary for Bill and Hillary Clinton (1975)

• the birthdays of the first Governor of NSW Arthur Phillip (1738), former First Lady Eleanor Roosevelt (1884), and actor Luke Perry (1966)

• the release of John Lennon's hit single Imagine (1971)