BMW, Jobs and Vodafone Price Hikes

Australian News

• Sydney hotels achieve record room rates, with some exceeding $1,000 per night, prompting increased investor interest in hotel conversions. LINK

• Looking for a job is now harder with Seek reporting a 17.4% decline in job ads over the past year. LINK

• Household spending in Australia fell by 3.9% in December, impacted by interest rate rises and advanced holiday spending. LINK

• The ETF industry in Australia has reached a record $177.4B, driven by a 33% year-over-year growth and strong fixed-income ETF investments. LINK

• Federal government's housing tender includes funding for unsold unit purchases and office-to-residential conversions, aiming to add 40,000 affordable homes. LINK

• Uranium prices surpasses last week’s 16 year high following production shortfalls by the world's largest uranium miner. LINK

• Queensland government allocates an additional $2.5M to support storm-affected Gold Coast tourism businesses, offering 50,000 vouchers worth $50 each. LINK

• Sydney commuters face delays due to daily strikes by wire-drawn ferry operators. LINK

Global News

• Iron ore prices plummeted 6% last week to below US$130 a tonne, fuelled by China's disappointing economic data and unchanged central bank rates. LINK

• The United Nations requires an additional $4.2B this year for humanitarian aid in Ukraine. LINK

Company News

• ANZ escalates its fight against money mules, flagging 3,200 accounts for suspicious activity, while warning other banks of criminal misuse. LINK

• Vodafone increases mobile plan prices by 6-9%, attributing the hike to high operating costs and ongoing network investments. LINK

• Super Retail Group reports a 3% sales rise with Supercheap Auto and BCF performing well whilst Rebel Sport slowed - the business warns of profit margin impacts due to rising costs. LINK

• Apple offers a rare discount of 500 yuan ($70) on its iPhone 15 range in China, amid increasing competition and demand concerns. LINK

• Microsoft surpasses Apple to become the world's most valuable public company. LINK

• BMW's CFO declares that sales growth is now predominantly from electric vehicles, marking a tipping point for combustion engine sales. LINK

This Week’s Top Picks

• Sydney's first metropolitan e-scooter trial has commenced in Kogarah, with 60 scooters available for use on roads with 50km/h speed limits within the trial area. LINK

• Online retailer The Iconic's lack of payment verification measures exposes its 2.1M customers to potential fraud. LINK

• Hertz plans to sell a third of its US electric vehicle fleet and shift back to petrol-powered cars, citing weak demand and high repair costs for EVs. LINK

• Perth experienced the highest increase in rental prices in 2023, with some tenants facing weekly increases. LINK

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