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Employment Hero CEO Ben Thompson doubled down on the company's aggressive AI-first push reported by Capital Brief last week, unveiling plans to track staff usage and reward the most enthusiastic adopters of the technology.

During an all-hands meeting, Thompson said the HR software unicorn will begin monitoring employees' AI usage, specifically the frequency of AI prompts made across the organisation. "For the next eight days, we don't really care about the quality of the prompting, just how frequently you use it.”

Beyond mere tracking, Capital Brief reports that the company will also create a leaderboard to display which employees are engaging with AI tools most frequently, giving out prizes for workers showing the most significant adoption rates.

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Market movers

IDP Education’s shares plunged after the education services provider reported a sharp drop in international student volumes, as tighter visa policies hit earnings.

The quick sync

• Encore Holdings bets on water scarcity tech, snapping up Halytech to expand its growing stable of Australian businesses. (Capital Brief)

• Australia's latest GDP data will test Jim Chalmers' economic strategy as the government battles sluggish growth ahead of the election. (Capital Brief)

• MinRes’ $3b Onslow road gamble is backfiring, with a leaked report revealing major risks, spiralling repair costs and deep investor scepticism over the miner’s future. (AFR)

• AMP and Insignia accuse ASIC of double standards after the regulator imposes a lower penalty on AustralianSuper. (AFR)

   

Trading floor

M&A

• HMC Capital may raise bid to secure Healthscope. (The Australian)

• At least one suitor may be losing interest in acquiring Insignia Financial after its share price dropped 6% last week. (The Australian)

• Bega eyes Fonterra Oceania buy in $2b asset sale. (The Australian)

• JPMorgan to advise Brookfield on $3b+ La Trobe Financial sale or IPO. (The Australian)

• Prada is closing in on a €1.5b deal to acquire Versace, reshaping Italy’s luxury fashion landscape and challenging global giants like LVMH. (Bloomberg)

• ON Semiconductor is eyeing Allegro Microsystems for a possible takeover, betting on automotive chips despite market headwinds. (Bloomberg)

• Catalano’s long-held dream of controlling Domain is slipping away, as CoStar’s takeover bid leaves him scrambling for a new plan. (AFR)

Capital Markets

• Adani Group resumes US investments, expecting legal cases to be dropped. (Capital Brief)

• Potentia Capital secured a major win with the $1.35b Micromine exit but faces questions as key dealmakers leave ahead of its AGM. (AFR)

• SoftBank seeks $16b loan for AI, OpenAI, and chip investments. (Capital Brief)

• Goldman Sachs’ late-night $143m Telix block trade upset investors as it followed a major sell-down, causing shares to drop 6.5%. (AFR)

• Australia’s housing market rebounds in February as sentiment improves after a rate cut. (Reuters)

• DeepSeek revealed a 545% profit margin for its models over 24 hours, offering rare financial transparency in the AI sector. (Capital Brief)

• Future Group posted a $5.36m profit after its failed deal with Australian Ethical. (AFR)

• Australia freezes beer tax hikes as election nears. (Reuters)

• Trump launches lumber tariff probe, escalating Canada trade tensions. (Capital Brief)

• Star Entertainment’s future in doubt after financing setback. (AFR)

• Crypto jumps as Trump names XRP, Solana, and Cardano in reserve talks. (Capital Brief)

• Sanjeev Gupta’s empire faces fresh turmoil as his directors seek safe-harbour protections ahead of a critical creditors’ meeting for the failed Whyalla steelworks. (The Australian)

• Trump’s Tuesday tariffs on Mexico and Canada are coming—but the final rates remain up in the air amid last-ditch talks. (FT)

• Microsoft is shutting down Skype on 5 May, shifting users to Microsoft Teams as it phases out the once-dominant calling platform. (NYT)(WSJ)

• Sanctioned Dutch oil trader NielsTroost is battling the EU in court, blaming a bitter feud and false claims for his blacklisting. (FT)

VC

• Texas-based startup Firefly Aerospace makes history with first upright private moon landing. (Capital Brief)

• Liam Millward founded Instant at 17, and four years later, the marketing automation startup is now valued at $100m. (AFR)

People moves

• Goldman Sachs appointed Tim Freeman and Jared Baker to lead its new Capital Solutions Group, focusing on private credit in Australia and New Zealand. (AFR)

• Helen Wright named Country Road CEO amid leadership shake-up. (AFR)

• Blackstone CEO Schwarzman earned $1b+ in 2024 amid tax scrutiny. (Bloomberg)

• UBS promotes five Australian bankers to top global tier. (AFR)

• Richard White’s accuser receives legal aid from Anti-Slavery Australia. (AFR)

• Macquarie’s TMT research head Darren Leung exits after 10 years. (AFR)

The watercooler