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Aston Martin, PayPal and Coca-Cola
Loneliness in adults tends to increase after age 50, according to a new scientific analysis.
Pick & Scroll News
May 02, 2024
One Read, All Perspectives
Australian News
The US and Australian central banks are expected to maintain high interest rates for longer to tackle inflation, potentially affecting market sentiments. LINK
Women escaping domestic violence in Australia will receive up to $5,000 in emergency support payments from the Albanese government. LINK
Concerns in the superannuation sector are increasing due to inflation affecting caps and settings, particularly with the new tax on balances over $3 million. LINK
Australia's property market remains robust with property prices increasing for the 15th consecutive month. LINK
The rate of women killed by their partners in Australia has decreased significantly over the last 34 years, though recent upticks pose concerns. LINK
The price of silver has risen 18% in the past 6 months, becoming a popular investment alternative to gold. LINK
Former foreign minister Gareth Evans advises Australian investors to diversify due to global crises and ethical investment challenges. LINK
Loneliness in adults tends to increase after age 50, according to a new scientific analysis. LINK
Global News
Donald Trump was fined $9,000 for contempt of court related to a gag order violation in his New York hush money case. LINK
Cloud computing is booming, driven by artificial intelligence, with major tech firms reporting strong sales. LINK
Bitcoin's value has fallen, influenced by a tough outlook for US interest rates. LINK
Company News
Westpac Banking Corp has extended its moratorium on regional branch closures and plans to invest over $150 million in the next 2 years to enhance these services. LINK
Qantas addressed an issue with its mobile app that exposed customer data and has stated the problem was due to recent system changes rather than a cybersecurity incident. LINK
Qantas is offering employment discussions to the crew of the grounded carrier Bonza through its Jetstar division, following Bonza's entry into voluntary administration. LINK
Australia's major banks are anticipated to report weaker profits due to high operational costs and intense competition in mortgage and deposit sales, potentially cooling a recent stock rally. LINK
McDonald's reported a quarterly profit miss for the first time in 2 years as consumer spending constraints and the Middle East conflict impacting its international sales. LINK
Coca-Cola has increased its annual organic sales forecast following stronger-than-expected sales in its first quarter, driven by robust demand in the US and abroad. LINK
Qantas Super has committed $200 million to sustainable farming investments in partnership with GO.FARM, focusing on horticultural projects in NSW Riverina and northern Victoria. LINK
Mirvac and Vicinity Centres have maintained their earnings guidance despite pressure on commercial property, supported by strong housing market activities and resilient shopping centre sales. LINK
AWS has launched a powerful enterprise AI tool, Amazon Q, aiming to integrate with numerous vendors and applications to enhance market presence. LINK
Austal's shares rose following positive comments from Defence Minister Richard Marles about not blocking Hanwha's potential acquisition of the naval shipbuilder. LINK
Airwallex reported a significant loss last year due to increased transaction costs and unfavourable foreign exchange rates, despite financial support from its parent company. LINK
Macro Meats will start harvesting deer in South Australian forests, promoting a less cruel and more environmentally friendly method than traditional culling. LINK
Woolworths plans to return capital to shareholders following the sale of a stake in Endeavour Group, with updates on sales to be provided soon. LINK
Microsoft announced it will open its first regional data center in Thailand, enhancing its cloud services availability. This follows a significant investment announcement for Indonesia by CEO Satya Nadella. LINK
Aston Martin reported significant losses as it paused production ahead of launching new vehicle models, causing a sharp drop in its stock price. LINK
Amazon surpassed earnings and revenue expectations for Q1, driven by strong performance in advertising and cloud computing, signalling robust growth in AWS and advertising revenue. LINK
Newspapers owned by Alden Global Capital have filed a lawsuit against Microsoft and OpenAI, accusing them of using their articles unlawfully to train AI systems. LINK
Tesla is reducing the pace of its Supercharger network expansion in the US, impacting around 500 employees amid broader organisational changes. LINK
Starbucks reported disappointing quarterly earnings and revenue, citing a decline in same-store sales. The company also cut its fiscal 2024 forecasts, expecting continued underperformance. Shares dropped 12% after hours. LINK
Haleon posted first-quarter revenue below expectations, impacted by US retailer destocking and slower demand for its health products like Sensodyne and Panadol. LINK
Google will pay News Corp up to $6 million annually to develop AI-driven content, as part of an extended collaboration between the two companies. LINK
PayPal raised its full-year profit forecast and detailed growth plans for its branded checkout services, aiming to compete more effectively with tech giants like Apple and Google in the digital payments sector. LINK
This Week’s Top News
Australia has been ranked as the top global destination for expats and professionals looking to relocate, thanks to Australia’s robust post-pandemic job market. LINK
Electricity bills are set to increase in the Northern Territory, Tasmania and New South Wales, with significant rises expected due to higher energy transmission costs. LINK
Tech-driven sexual harassment is reportedly used by 1 in 7 people to harass colleagues in Australia, with younger individuals and women being especially vulnerable. LINK
Optus and TPG Telecom have entered into a $1.6 billion agreement to share mobile networks across regional Australia. LINK
Freight costs rise due to global conflicts, affecting shipping routes and increasing the time and cost of delivering goods. LINK
Australians lost $2.7 billion to scams in 2023, with older citizens most affected and scams proliferating on social media platforms. LINK
Business failures surge to 1991 recession levels, with 7,747 companies collapsing in the first 9 months up to March 2024. LINK
Australia to launch a $161.3 million national firearms register, a move inspired by recent police shootings. LINK
Superannuation withdrawals for medical purposes surge, with $313 million accessed for dental treatments in 2023, up 373% since 2019. LINK
Sharp decline in study visa approvals influences Australian migration reset, with approvals dropping 31% to pre-pandemic levels as the government tightens regulations to filter out non-genuine students. LINK
Australia's average income tax rate rose by 7.6% in 2023, the highest increase among developed nations. LINK
Drought in Europe spikes olive oil prices, with alternatives being considered as more cost-effective options; recent rains might reduce prices post-Europe's end-of-year harvest. LINK
Colgate-Palmolive raises its annual organic sales growth forecast, relying on strong consumer demand for its premium personal care and pet nutrition products. LINK