Optus Emergency Outage Damage Spreads to SingTel

Good morning everyone, it’s Ainslie here in Sydney. It’s RBA rates decision day and we’re expecting the central bank to hold this time around. But first...

Today’s must-reads:
• Optus outage fallout hits SingTel
• Super fund takes hit on soured Microsoft property bet
• EA in record leveraged buyout

As Optus reels from another emergency call outage, the crisis has bled beyond Australia’s borders. The escalating reputational damage to the nation’s second-largest phone company is now bearing down on its parent SingTel.

Australian Retirement Trust, our second biggest super fund, is defaulting on a loan that funded the purchase of a US office complex once occupied by Microsoft, underscoring the continued fallout for global investors as companies revise their office space after the pandemic.