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Adidas, APRA and Aje Athletica
Optus is up for sale, An ATO officer is sentenced to jail for accepting bribes, and Aussies lost $477M to scams in 2023.
Pick & Scroll News
March 14, 2024
One Read, All Perspectives
Australian News
Australia's superannuation industry is expected to reach $13.6 trillion by 2048, with a shrinking number of funds predicted to control the market. LINK
An ATO officer received a 30-month jail sentence for accepting bribes to reduce tax assessments. LINK
The "motherhood penalty" affects women's workforce participation and pay in Australia, impacting national productivity. LINK
The NDIS enjoys popularity akin to Medicare among Australians, despite its rising costs. LINK
Consumer group Choice warns that loyalty schemes from major supermarkets may mislead customers. LINK
The electric vehicle revolution is slowing, with manufacturers and politicians underestimating consumer reluctance. LINK
Renewable energy investment slumps, impacting Australia's 2030 climate targets. LINK
A significant number of properties were purchased with cash in NSW, Victoria and Queensland last year. LINK
A power imbalance between farmers and supermarkets is causing food oversupply and waste. LINK
Australians lost $477 million to scams last year, with investment scams seeing a significant drop. LINK
New land tax bills in Victoria could lead to a rental market crisis as investors exit. LINK
Farmers told a Senate inquiry they have received unchanged produce prices from supermarkets for over a decade. LINK
Fruit and vegetable growers leave the industry due to "unethical" supermarket practices. LINK
Global News
Bitcoin nears record highs as the UK's Financial Conduct Authority approves crypto ETNs for professional investors but warns of high risks. LINK
Iron ore prices drop as China's steel mills cut output amidst a global glut and property market downturn. LINK
The US commits $454 million in aid to Ukraine amid stalled congressional approval for further assistance. LINK
Company News
Nursery growers accuse Bunnings of unfair trading practices and call for inclusion in the Food and Grocery Code of Conduct. LINK
Adidas posts its first loss in 30 years, working to recover from the Kanye West split and revitalise its brand with core products. LINK
Google limits its AI chatbot Gemini from answering questions about global elections to mitigate misinformation risks. LINK
EY's incoming CEO Janet Truncale plans leadership changes and cost cuts across the firm, signalling a tighter executive team. LINK
Victorian government's $2 billion venture capital fund Breakthrough Victoria scrutinised for lack of transparency and potential conflict of interest. LINK
Fashion label Aje Athletica reduces its workforce by 20 amidst a broader company restructure. LINK
Coles CEO Leah Weckert prepares for Senate inquiry amid scrutiny over pricing and profitability, signalling discussion on cost-sharing with suppliers. LINK
Residents move into Lendlease’s luxury tower One Sydney Harbour at Barangaroo, marking the completion of its first phase. LINK
US tech firm Innodata proposes a $154 million takeover of Appen, following the Australian company's struggles. LINK
PwC Australia announces job cuts and partner departures in a major restructuring effort. LINK
APRA lifts a $500 million capital penalty from NAB but remains silent on ANZ and Westpac. LINK
China's reopening to Australian wine imports could boost Treasury Wine Estates' earnings by $100 million over three years. LINK
Commonwealth Bank resolves a technical outage affecting online services and ATMs. LINK
Singtel in advanced talks to sell Optus to Brookfield for around $16 billion. LINK
This Week’s Top Picks
Family farms in Australia are at risk of disappearing within a decade, with aggressive supermarket pricing threatening food security. LINK
Employers advocate for modernised work rules to accommodate remote working, challenging outdated penalty rates and work conditions. LINK
Buy now, pay later services in Australia will now require a credit licence and perform responsible lending checks under new Treasury draft reforms. LINK
Investors in unlisted property funds are experiencing losses, particularly from the downturn in the office market, with total returns dropping to a 12.7% loss last year. LINK
Toll-road reform in NSW is under consideration to improve the efficiency of Sydney’s toll road network and move away from coins. LINK
Australian cereals have decreased in size but increased in cost, a phenomenon known as shrinkflation. LINK
ANZ Private aims to capture a share of Australia's wealthiest families, competing with global banks by offering tailored bond portfolios and new products. LINK
Tutoring companies are benefitting from the failures in the school system, with homeschooling numbers doubling since the pandemic as parents seek alternative education options for their children. LINK
Brisbane's business, sports, and civic leaders advocate for a reevaluation of the 2032 Olympics spending, emphasising the importance of avoiding "white elephant" stadiums and ensuring value for money. LINK
International students have significantly contributed to Australia's GDP growth in 2023, with their spending making up more than half of the country's economic growth. LINK
Gen Z women are lagging in homeownership compared to their male counterparts. LINK
Australian vineyards are now destroying millions of vines and impacting the market for cheaper reds. LINK
A former EY partner loses appeal to keep his identity secret after being accused of creating a $700,000 tax exploitation scheme. LINK