🗞️ Best in show

Good morning and Happy Melbourne Cup week! Our monthly newsletter with our friends at The Aussie Corporate will be sent out today.

It recaps Pick & Scroll’s most clicked-on stories for the month while diving a little deeper into the biggest news stories.

If you would like to subscribe, click HERE. Have a great week! 

All the headlines and more below...

AUSTRALIAN NEWS

Communities with 10%+ Indigenous populations face greater gambling losses

• Communities with 10%+ Indigenous populations face 50% higher poker machine density and greater gambling losses. LINK

• Australia’s major banks are set to earn about $30B in profits this year as strong lending growth and stable repayments support earnings. LINK 

• Early superannuation withdrawals for dental treatment have increased 12-fold since 2018-19 as Australians face rising out-of-pocket health costs. LINK

• The First Home Guarantee Scheme has increased home demand and prices as bank pre-approvals now take up to 17 days. LINK

GLOBAL NEWS

Airlines globally earned billions in ancillary fees

• Airlines globally earned $227B in ancillary fees last year whilst up to 15% of passenger revenue now comes from these charges. LINK

• The international project FishSOOP has collected over 3M ocean temperature readings by attaching sensors to fishing gear as it aims to improve forecasts of marine heatwaves and El Niño. LINK

COMPANY NEWS

Macquarie Bank outgrew the big 4 in September as it gained market share over 3 times faster than CBA

• Macquarie Bank outgrew the big 4 in September as it gained market share by increasing its loan and deposit books over 3 times faster than CBA. LINK

• Westpac is set to report a $6.9B annual profit while lenders face increased competition and margin pressure despite strong housing and credit markets. LINK

• Crown Resorts finalised a deal to sell air rights and land at its Melbourne casino site, enabling a $700M high-rise apartment development. LINK

• Canva launched major AI tools in Sydney including smart spreadsheet integration and design editing as it intensifies pressure on rivals. LINK

• A major AI error by Google falsely named a journalist in an old Australian murder case, triggering calls for stronger accountability in AI content. LINK 

• Meriton reported a $222M profit for the year as rising rental income offset slower apartment sales. LINK 

• BYD stored 13,000 unsold electric vehicles across makeshift Australian locations including a Sydney theme park after importing 51,000 and selling only 38,000 to capitalise on new carbon credit rules. LINK 

• Racing Victoria faces legal action from its head veterinarian who alleges pressure to allow injured horses in the Melbourne Cup. LINK 

• Macquarie Bank was fined a record $4.995M for failing to monitor suspicious power trades by Vales Point’s owner, showing oversight lapses. LINK  

CHART OF THE DAY

When consumers plan to start holiday shopping, % of respondents

ONE MORE SCROLL

Editor’s Pick: AI headphones help you optimise your day avoid burnout, and boost your productivity.

Draft Pick: Your workout gear might say what generation you were born in.

Odd Pick: These dancing light fixtures would be an interesting Christmas gift.

TOGETHER WITH

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TRIVIA

We start the week with some general knowledge trivia.

1. Who painted the famous artwork, The Starry Night?

2. What is the name of the author who created the character Sherlock Holmes?

3. Which musical instrument has keys, pedals and strings, but is not a piano?

4. The phrase "To be or not to be, that is the question" comes from which Shakespearean play?

5. What is the name of the fictional superhero whose alter ego is Bruce Wayne?

6. Which animated film studio produced hits like Toy Story, Finding Nemo, and Up?

Answers below

OUR SOCIALS

ANSWERS

1. Vincent van Gogh
2. Sir Arthur Conan Doyle
3, The Harp
4. Batman
5. Hamlet
6. Pixar

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