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Bored Ape Yacht Club, UniSuper and Peloton
Qantas app glitch exposes customer data due to a tech issue.
Pick & Scroll News
May 06, 2024
One Read, All Perspectives
Australian News
Pro-Palestine student protests continue to grow at Melbourne University, with demonstrators vowing to maintain their 'tent cities' until the university denounces ties with weapons manufacturers and Israel's actions in Gaza. LINK
Baby Boomers' spending habits have shifted towards supporting family financially, despite maintaining overall spending levels. LINK
Australia's housing shortfall is now projected to miss the target by 300,000 homes. LINK
Economists advocate for tighter immigration to aid the RBA in controlling inflation, suggesting restrictions on visas could ease the housing market pressures that drive up rents and goods prices. LINK
Student visa appeals surge, with a significant increase in applications at the national appeals tribunal as rejected visa holders seek to extend their stay in Australia. LINK
Global News
Australia, US, Japan and the Philippines have pledged to increase military drills to uphold freedom of navigation in the South China Sea, a response to escalating tensions with China and its maritime claims. LINK
European intelligence agencies report that Russia is escalating covert sabotage activities across Europe, including bombings and arson, as part of a broader conflict strategy with the West. LINK
AI engineers express burnout as the rush to release AI tools intensifies, often prioritising investor interests over solving real problems. LINK
Turkey's inflation rate hit 69.8% annually in April, driven by significant price increases in sectors like hospitality and tobacco. LINK
Bored Ape Yacht Club NFTs experience a dramatic price drop, falling 90% from their peak. LINK
Company News
Macquarie targets business lending, expanding its loan offerings to small businesses by 22% in an aggressive push against Australia's big four banks and their dominant market share. LINK
Apple's Q2 earnings outperform expectations slightly, yet reveal a 4% decline in revenue and a 10% drop in iPhone sales. LINK
UniSuper faces an outage, attributing a prolonged service disruption preventing 615,000 customers from accessing their superannuation accounts to issues with Google Cloud. LINK
Major tax fraud investigation sees the Australian Tax Office moving against administrators who reduced a $11 million tax debt to just $1. LINK
Buy now, pay later growth surges as Block integrates Afterpay with Cash App, significantly boosting transaction volumes. LINK
Peloton's CEO resigns amidst a record low in stock prices and a 15% workforce reduction. LINK
Macquarie faces setbacks in its green energy investments, with significant profit drops casting doubts on its strategy to capitalise on the energy transition market. LINK
Star Entertainment's survival is questioned, as mounting debt and damaging inquiry findings raise concerns about its ability to continue operations without new ownership. LINK
Westpac ends mortgage cashbacks, setting a June 30 deadline for applications, as it reevaluates its strategy and ceases the sale of its RAMS franchise after a failed campaign. LINK
McDonald's Australia reports revenue growth of 7% to $2.144 billion in 2023, planning to invest $1 billion in new stores and refurbishments despite economic pressures. LINK
Macquarie's job growth stalls, with only a 1% increase over the past year, marking the slowest rate in nearly a decade. LINK
Qantas app glitch exposes customer data, with the airline confirming a technology issue led to the breach; affected customers will be contacted directly. LINK
Lawsuit claims Bonza's US owner near collapse, accusing 777 Partners of fraudulent financial practices involving $530 million in assets. LINK
Domino’s Pizza and Breville are using Atlassian to help target rivals, promising efficiency in pizza delivery and product development. LINK
Big Four accountancy firms may face governance crackdown, potentially reducing partner numbers and restructuring consulting practices in response to the PwC tax leaks scandal. LINK
Smiggle's UK performance strengthens, leading to discussions about a potential demerger in Australia to capitalise on its success abroad. LINK
Holiday Inn owner IHG sees a rise in room revenue by 2.6%, buoyed by sustained demand for leisure travel, with expectations of continued strong performance. LINK
Monster Beverage's revenue jumps 12%, driven by enduring demand for its energy drinks and reduced freight costs. LINK
Expedia lowers its revenue forecast following a slowdown in its vacation rental platform and weak performance in its consumer segment. LINK
Booking Holdings beats Q1 earnings expectations, driven by robust international travel demand, despite a slowdown in US leisure travel. LINK
Hugo Boss shares tumble nearly 10% despite aggressive expansion efforts, amidst weak demand in China and concerns about US consumer sentiment. LINK