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Apple, TikTok and Hasbro
Oil prices stabilise, Sydney house prices, and China lifts suspensions on 3 Aussie abattoirs.
Pick & Scroll News
December 13, 2023
One Read, All Perspectives
Australian News
Construction and professional, scientific, and technical services industries in Australia experienced the highest number of redundancies, accounting for nearly 25% of all retrenchments since November 2022. LINK
Oil prices have stabilised after experiencing the longest weekly losing streak in five years. LINK
In Sydney, one in nine suburbs experienced a house price jump of more than 5% in the past three months, with areas in the inner west and south-west leading the market. LINK
The industrial vacancy rate in Australia rose for the first time in five years in the second half of 2023, reaching 1.1% with a potential slowdown in rental growth and an increase in choices for occupiers. LINK
The ACCC reviewed over 100 online content creators, finding that 81% had posted misleading content, flagging concerns about the accuracy and honesty of influencer marketing. LINK
Global News
China has lifted suspensions on three Australian abattoirs, easing trade restrictions on Australian goods. LINK
Company News
Apple is reportedly simplifying its iPad lineup to make product options clearer for customers, focusing on the iPad Pro, iPad Air, and iPad Mini, amid a 3% sales decline from fiscal 2022 to 2023. LINK
Google lost a landmark antitrust case to Epic Games, the maker of Fortnite, with a jury finding that Google suppressed competition in the Android app market to secure billions in profits from its Play Store. LINK
Hasbro, owner of Marvel, Transformers and Monopoly, announced further job cuts of 900 positions globally, following an initial reduction of about 1,000 jobs earlier this year, amid weaker toy sales. LINK
TikTok and Indonesia's GoTo will trial an e-commerce partnership, with regulators assessing its impact on small merchants in Indonesia following a ban on online shopping on social media platforms. LINK
The ACCC argues that ANZ's planned $4.9B takeover of Suncorp Bank would further strengthen the dominance of major banks in home lending. LINK
This Week’s Top Picks
Australian CFOs are increasingly concerned about rising costs and higher interest rates, leading to a pessimistic outlook with potential investment cuts and layoffs. LINK
Adidas shifts its focus to emerging sports like breakdancing, climbing, skateboarding and BMX for next year's Paris Olympics. LINK
60% of employees hide who they are at work, downplaying aspects of themselves to conform to norms. LINK
Australia will triple fees on foreign purchases of existing homes. LINK
Zoom meetings are considered ineffective for meaningful staff interactions, with employees increasingly opting for silence in meetings due to various factors. LINK
Puma will end its sponsorship of Israel's national football team next year, in a decision made before Hamas' Oct. 7 attack. LINK