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🗞️ Bearish insurance
Four men in America have been arrested for putting on a bear costume, breaking into their own luxury cars and claiming $200,000 in damages from their insurance companies.
Pick & Scroll News
November 19, 2024
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Good morning. Four men in America have been arrested for putting on a bear costume, breaking into their own luxury cars and claiming $200,000 in damages from their insurance companies.
On the back of this, we found a nice top 10 list of the worst insurance claims of all time, including a man who deliberately drove his $1 million Bugatti into a swamp claiming he lost control because of a pelican. Unfortunately, a Bugatti fan had started filming him moments before, giving plenty of proof that there was no pelican in sight.
Footage and top 10 list is here.
All the headlines and more below...
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AUSTRALIAN NEWS
Australian businesses selling essential goods and services to be forced to accept cash payments
The Australian government will mandate businesses to accept cash for essentials by January 2026, supporting 1.5 million cash-reliant citizens. LINK
Rising house prices and high interest rates in Australia have pushed the median home deposit to nearly $300K, forcing some owners to sell and young buyers to seek parental financial assistance. LINK
The Australian government is exploring a new regional banking levy to support rural branch operations, following Senate recommendations to increase the existing $1.6B annual bank levy. LINK
The RBA warns of an increase in home sales due to financial distress and divorce, particularly in Victoria and regional NSW, despite rising property prices. LINK
Rising living costs have prompted 1 in 10 disadvantaged Australians to delay healthcare, with GP visit deferrals increasing to 8.8% in FY24. LINK
Australia faces a significant housing shortfall of 395,000 homes against the National Housing Accord target, particularly affecting Greater Sydney. LINK
Australian businesses are facing AI implementation decisions as 58% of Australians express AI privacy and security concerns, whilst experts warn of potential societal harm and trust erosion. LINK
GLOBAL NEWS
Business owners warn Trump’s deportation plan could shut them down
Donald Trump's deportation plan has sparked warnings from US business leaders that mass removals could cause severe labour shortages, potentially shutting down restaurants, farms and small businesses. LINK
Australia, the US and Britain are urging the G20 to address Russia's invasion of Ukraine, with President Biden approving Ukraine’s use of long-range US missiles to strike Russia. LINK
Japan's automotive giants, including Toyota, are striving to catch up in the EV market by developing solid-state batteries. LINK
At Singapore's largest fintech festival, attended by 65,000 delegates, discussions have raised doubts about AI's revenue impact despite its benefits in coding and compliance. LINK
COMPANY NEWS
Australia regulator sues NAB for ignoring hardship application deadlines
NAB faces ASIC lawsuit for failing to respond to 345 hardship requests within legal timeframes between 2018 and 2023, affecting vulnerable customers. LINK
Macquarie may increase mortgage rates or exit retail banking if the Albanese government implements a rural service levy. LINK
NAB faces a lawsuit for allegedly withdrawing a job offer upon learning the candidate was pregnant, amid claims of tolerating sexist workplace culture. LINK
Web Travel Group has suspended ASX trading due to potential FY24 financial statement adjustments. LINK
Elders has announced a $475M acquisition of its rival Delta Agribusiness while reporting a 55% drop in full-year profit to $45.1M and reduced its dividend to 36 cents per share. LINK
Virgin Australia has defended its Qatar Airways 25% stake agreement, stating it won't impact Australian jobs. LINK
Woolworths executives have denied accusations of land banking during an ACCC inquiry, stating their definition of land accumulation differs from the competition watchdog's interpretation. LINK
Court-ordered mediation has resolved a portion of ex-producer Amelia Saw's Fair Work dispute against Seven Network, although the broader case remains pending. LINK
CHART OF THE DAY
Productivity correlates with higher economic complexity scores
ONE MORE SCROLL
Editor’s Pick: If you're an animal person you will love the photos in Natures Best Photography Awards for 2024.
Draft Pick: Australia defeated Wales 52-20 in Cardiff, with Matt Faessler scoring 3 tries.
Odd Pick: Mark Zuckerberg just dropped a single with T-Pain.
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TRIVIA
Guesstimate
We've got 3 estimation questions for you today. Given the difficulty, if you get within 20% either side of the answer, you can have a point.
How many Earths could fit inside the Sun?
How many words are in War and Peace by Leo Tolstoy?
How many photos are uploaded to Instagram every day?
Answers below
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ANSWERS
1. About 1.3 million earths
2. Around 587,000 words
3. Estimated 95 million+ photos are uploaded each day
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