🗞️ SuccessionAU

Good morning. Real life Succession is taking place this week, as Australia’s media titan, Rupert Murdoch heads to court against three of his children to determine who will control the $15 billion of assets when he passes.

Quick recap:

• Murdoch's global media empire includes Fox News, Wall Street Journal, The Times of London, The Australian and the New York Post.

• Four of his children from his second marriage (of five) have equal voting rights.

• Rupert is trying to hand more rights to his eldest son so he can control the empire.

• The primary reason is said to be that Rupert is worried his less-favourite children would push Fox News in a more liberal direction.

A few guaranteed winners from trial - the 79 lawyers listed on the case, who we suspect have a charge out rate that won't be cheap.

All the headlines and more below...

AUSTRALIAN NEWS

Table tennis, hot-desking are so 2019. Offices are changing again

• Post-pandemic workspaces are being redesigned as companies focus less on individual desks and hotdesking, and more on private rooms. LINK

• The number of female CEOs in the ASX 300 fell in 2024, the second drop in 8 years, with 7 out of 10 executive leadership roles still held by men. LINK

• Many companies are hiring freelance experts through consulting marketplaces as organisational change has become “business as usual”, reducing demand for major advisory firms like Deloitte and KPMG. LINK

• Mortgage refinancing in Australia has led to rising loan delinquencies. LINK

• The rise in households with spare rooms and home offices is the main factor behind Australia's housing shortage, not foreign students. LINK

• The Australian government anticipates a surge in investment into critical minerals and clean energy following the completion of a free trade pact with the UAE, removing tariffs on over 99% of goods. LINK

• European cities are outperforming Australia in developing “15-minute cities,” providing residents with better access to essential services via public transport within short time frames. LINK

• Flights from Perth Airport left without luggage after a Qantas aircraft damaged a section of the runway during take-off. LINK

• 1 in 3 Australians in early retirement treat their superannuation as a "set-and-forget". LINK

• Drivers using partial automation systems like Tesla’s Autopilot are more likely to engage in non-driving activities. LINK

GLOBAL NEWS

VR and AR headsets demand set to surge on AI

• Global demand for AR/VR headsets is projected to surge by 41.4% in 2025, driven by more affordable devices and the integration of AI. LINK

• Central bank digital currencies are being explored by 134 countries, representing 98% of the global economy, with 44 nations already piloting them. LINK

• A team of AI experts has launched the "Humanity’s Last Exam" project to create difficult tests for AI systems, aiming to measure when they achieve expert-level reasoning. LINK

• Indonesia’s trade surplus in August reached a 3-month high of $2.89B, as exports surged by 7.13%. LINK

• Argentina’s economy is expected to shrink by 1.4% in Q2, marking the country’s 5th consecutive contraction. LINK

• Greece has implemented a 1-year ban on new short-term rental licences in central Athens districts to address housing shortages, while raising taxes on existing holiday lets. LINK

COMPANY NEWS

Amazon mandates five days a week in office starting next year

• Amazon has mandated employees to return to the office 5 days a week starting January 2025, toughening its stance on remote work as other tech firms implement more flexible hybrid models. LINK

• CBA is exploring the possibility of helping thousands of local call centre staff with a ChatGPT-style platform. LINK

• Tabcorp has also mandated a 5-day office workweek for all office-based employees. LINK

• Meta has banned RT and other Russian state media outlets from its platforms globally due to some covert influence operations. LINK

• QLD-based Nbryo is set to revolutionise the beef and dairy industries with embryo transfer technology that allows cattle breeders to select traits like lower methane emissions or specific meat quality characteristics. LINK

• PwC has halted the construction of a US$210M training campus in China. LINK

• Intel has secured Amazon's AWS as a multibillion-dollar customer to produce custom AI chips. LINK

• Apple pre-order data for the iPhone 16 series indicated weaker demand than expected. LINK

• Microsoft approved a new $60B share buyback program, alongside an increase in its quarterly dividend. LINK

• EssilorLuxottica extended its smart glasses partnership with Meta, signing a 10-year deal to develop connected eyewear. LINK

• OpenAI’s safety committee will now operate as an independent body to oversee the security and safety practices surrounding the company’s AI development and deployment. LINK

• CBA has advanced in the AI race among the big four banks by launching new AI-powered systems that are 4 times faster and 40% more efficient. LINK

• The Murdoch family’s legal battle over control of News Corp and Fox Corp has begun, where Rupert Murdoch seeks to amend an irrevocable trust to ensure Lachlan Murdoch's future control of the companies. LINK

• BlueScope has met 12% of its steelmaking emissions targets for 2030 but faces challenges with reducing emissions from non-steelmaking activities. LINK

• Regal Partners is preparing a potential takeover bid for Platinum Asset Management. LINK

• Qantas and Virgin have defended their higher fares following Rex's exit from domestic routes, with airfare data showing a 12% rise in September. LINK

• Webjet shareholders approved the company’s demerger, creating two ASX-listed entities: WEB Travel Group and Webjet Group Limited. LINK

• Universal Music Group, home to Taylor Swift, is facing slowing subscriber growth and weak streaming revenue. LINK

• Mercedes-Benz reports a growing number of young Indian buyers opting for electric vehicles as their first luxury car. LINK

THE ODD PICK

Death of man in hospital oven 'not suspicious'

CHART OF THE DAY

Top 10 Highest Ranking Workforce Markets

COUNTRY OF THE WEEK

Fiestas Patrias

It's Chile’s national independence day today, marking the date that Chile began fighting for independence from Spain. How well do you know the South American country?

1. What is the capital city of Chile?

2. What is the official language of Chile?

3. What is the longest mountain range that runs through Chile?

4. What ocean borders Chile to the west?

5. Chile is part of which trade bloc that includes Argentina, Brazil, and Paraguay?

Answers below

IN PARTNERSHIP WITH

Looking for a collab? Shoot us an email here.

OUR SOCIALS

ANSWERS

1. Santiago
2. Spanish
3. The Andes
4. Pacific Ocean
5. Mercosur

Was this email forwarded to you? Sign up here