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- Aussie Sports Clubs, Superannuation Fees, and Insurance Premiums
Aussie Sports Clubs, Superannuation Fees, and Insurance Premiums
K-Mart's Anko pops off, Nike is cutting jobs, and Aussie potatoes hit $1B.
Pick & Scroll News
February 19, 2024
One Read, All Perspectives
Australian News
Young professionals and mortgage holders are becoming the new face of hunger with charities reporting an influx of first-time aid seekers. LINK
Superannuation fees remain high despite industry promises that growth and mergers would lead to lower costs, with the biggest funds' admin expenses rising nearly 20% in three years. LINK
Shopping centres are showing signs of recovery from the cost-of-living crisis, with increasing consumer spending and a resurgence in mall values. LINK
Foreign students are leaving Australia in significant numbers following a visa crackdown, impacting net migration figures. LINK
Metro supermarkets are replacing traditional stores in inner cities, offering convenience but at a price premium. LINK
The Australian potato industry has exceeded a $1 billion production value for the first time. LINK
Aussie sports clubs are facing financial difficulties, risking the development of talent for future sporting events. LINK
Construction workers rally for a heat stress code of practice following heat-related illnesses and injuries. LINK
Advanced anti-collision technology in vehicles is unexpectedly driving up car insurance premiums due to the high cost of repairing sophisticated systems, despite expectations of reduced road accidents. LINK
Global News
South Korea's fertility crisis threatens to undermine the country's military capabilities. LINK
UK Prime Minister Rishi Sunak faces significant electoral setbacks with defeats in two by-elections amidst a shrinking British economy and public service crises. LINK
The 2024 US presidential election faces challenges from the rise of AI in creating deceptive misinformation. LINK
Tourism revenues in China during the Lunar New Year holidays surged by 47.3% year-on-year, exceeding pre-COVID levels, as domestic travel boomed. LINK
A Tokyo supermarket is adapting to Japan's recession by stocking more chicken as inflation leads consumers to switch from beef to more affordable meat options. LINK
Company News
Melbourne Law School faces criticism from students over mismanagement, including a compromised exam and inconsistent administration. LINK
OpenAI, Meta and other tech companies have united to combat AI-driven election interference. LINK
China's C919 passenger jet, developed by COMAC, made its international debut at the Singapore Airshow, marking China's effort to compete with Airbus and Boeing in the global passenger market. LINK
The Indigenous Land and Sea Corporation is exploring "alternative ownership" options for the Ayers Rock Resort as part of its commitment to return land to First Nations people. LINK
Nokia and Dell Technologies have partnered to deploy private 5G networks and adapt networks to the cloud. LINK
JPMorgan will pay approximately US$350 million in civil penalties for failing to report complete trading data. LINK
OpenAI introduces Sora, a new tool that generates short videos from text prompts, currently in safety testing and not yet available to the public. LINK
The ABC is hiring cultural advisers to assist staff, including journalists, in dealing with culturally sensitive stories. LINK
Apple plans to launch an AI tool for completing lines of software code. LINK
Inghams Group reports that nearly 50% of its sales now go through retail channels, with inflation moderating, potentially avoiding the need for further chicken price increases. LINK
Nike plans to cut over 1,600 jobs, or about 2% of its workforce, as it seeks to lower expenses amid reduced consumer spending on high-priced goods. LINK
QBE plans to increase premiums and expand into new business lines after posting a $1.36 billion full-year cash profit, nearly doubling its returns from the previous FY. LINK
Anko, a Kmart brand, dominates the Australian market in several retail categories, selling over 1 billion items annually. LINK
Canva accelerates its search for a new CFO amid allegations of executive misconduct. LINK
The ASX faces a financial strain with an unsustainable expense growth following the CHESS replacement project debacle. LINK
Magellan reveals Barrenjoey's $10 million profit in the half-year, highlighting the investment bank's success in capturing market share since its inception in 2020. LINK
Other News
A Delta Airlines flight from Amsterdam to Detroit was turned around due to maggots falling from an overhead compartment, originating from a bag containing rotten fish. LINK
About 40 asylum seekers who arrived in Western Australia by boat were taken to Nauru for processing and offshore detention. LINK