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- Bunnings, 2032 Brisbane Olympics & Aid for Gaza
Bunnings, 2032 Brisbane Olympics & Aid for Gaza
AU's worst rental affordability, The rise in homeschooling, and Taylor's $170M injection to Sydney and Melbourne.
Pick & Scroll News
March 11, 2024
One Read, All Perspectives
Australian News
Australia's $19 billion private hospital sector is facing a financial crisis, with costs for wages, energy, insurance, and debt skyrocketing, prompting concerns over potential closures of hospitals and clinics. LINK
The construction sector fears an infrastructure boom will exacerbate the skilled labour shortage, following a series of company collapses and a "profitless boom". LINK
Rental affordability in Australia has hit its worst level on record, with a surge in rents across the country making it increasingly difficult for median income households to find affordable rental properties. LINK
Tutoring companies are benefitting from the failures in the school system, with homeschooling numbers doubling since the pandemic as parents seek alternative education options for their children. LINK
Brisbane's business, sports, and civic leaders advocate for a reevaluation of the 2032 Olympics spending, emphasising the importance of avoiding "white elephant" stadiums and ensuring value for money. LINK
Australia's space treaty with the US faces criticism from a leading rocket manufacturer, who argues it will not benefit the economy and could hinder the domestic space industry. LINK
International students have significantly contributed to Australia's GDP growth in 2023, with their spending making up more than half of the country's economic growth. LINK
Gen Z women are lagging in homeownership compared to their male counterparts. LINK
Australian vineyards are now destroying millions of vines and impacting the market for cheaper reds. LINK
Global News
Sweden and Canada have resumed funding to the UN's Palestinian refugee agency, UNRWA, in the Gaza Strip, citing improved accountability and the dire humanitarian situation, after suspending payments due to allegations of employee links to Hamas. LINK
The US Army is sending humanitarian aid to Gaza with plans to build a temporary pier for vital supplies. LINK
Biden says he’ll ban TikTok if Congress passes bill, but he’ll keep campaigning on the platform until then. LINK
President Joe Biden signs a $460 billion spending bill into law, averting a potential partial government shutdown. LINK
Company News
Coles urges suppliers to reduce costs amid affordability concerns and political pressure to lower shelf prices due to rising expenses in various sectors. LINK
Commonwealth Bank's shares soar past $120, defying skeptics and becoming the second largest stock on the ASX behind BHP. LINK
Microsoft reports that hackers linked to Russia's foreign intelligence are attempting to breach its systems again, using data from a previous email compromise to gain access. LINK
Vanguard faces a penalty hearing over greenwashing, admitting it misled investors about excluding oil and gas company bonds in an ethically sourced fund. LINK
A former EY partner loses appeal to keep his identity secret after being accused of creating a $700,000 tax exploitation scheme. LINK
Facebook considered restructuring its local team as a media agency to reduce its tax bill in Australia. LINK
NAB claims it is also owed over $9.7 million by a company involved in an alleged scheme to steal $15 million from Westpac through falsified revenues and invoices. LINK
Westpac to appoint KPMG as its external auditor from the 2025 financial year, replacing PwC after more than 50 years. LINK
Bunnings is named Australia's most trusted brand in 2023, surpassing Woolworths and reflecting shifting consumer sentiments amid price gouging claims. LINK
Australian Reddit moderators will miss out on discount shares in the company's $9.8 billion IPO, with rewards limited to US volunteers. LINK
Westpac introduces a back-to-work program aiming to bring more women into tech roles, launching the 24-week EmPOWERUP Tech Returnship program on International Women’s Day to support those re-entering the workforce. LINK
OpenAI announces the re-addition of Sam Altman following the conclusion of an internal investigation surrounding his removal. LINK
Other News
Taylor Swift's Eras tour contributed over $170 million to Sydney and Melbourne's economies, showcasing significant domestic spending in restaurants, shops, and attractions. LINK
Being overweight may be influenced by parental obesity, with new research indicating that the likelihood of obesity triples with one obese parent and sextuples with two. LINK