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🗞️ Business buzzword
Long before disruption became a business buzzword, it was happening in Brisbane garages.
Pick & Scroll News
February 23, 2026
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Good morning. Long before disruption became a business buzzword, it was happening in Brisbane garages.
50 years ago, local band The Saints recorded a raw two-hour single called ‘(I’m) Stranded’ that would challenge authority and reshape Australia’s music scene.
That moment helped lay the foundations for Australia’s global music success today.
All the headlines and more below...
AUSTRALIAN & GLOBAL NEWS
Big super overtakes the banks as Australia’s biggest corporate funder
Australia's superannuation sector has overtaken banks as the largest corporate funding source, reflecting significant growth in super investments. LINK
The rise in AI-facilitated unfair dismissal claims is overwhelming the Fair Work Commission as it illustrates the disruptive impact of AI on workplace disputes. LINK
President Trump announced a new 15% levy after a Supreme Court ruling against earlier tariffs, sparking international reactions. LINK
The RBA is assessing inflation figures to determine if further interest hikes are necessary with a rise to 4.1% could occur if inflation exceeds target. LINK
Rising construction costs are slowing hotel room development in Australian cities as upscale hotels anticipate increased room rates. LINK
The Australian government tightened age pension payments by raising deeming rates, impacting retirees' financial income assessments. LINK
The Australian Defence Force is investing $4B to build a new fleet of landing vessels domestically to strengthen maritime power. LINK
Increasing the tax on capital gains may drive up rental costs while property investors seek to recover losses as debated in upcoming Australian senate inquiries. LINK
COMPANY NEWS
UniSuper accused of greenwashing after reducing environmental element of investment option
UniSuper faces greenwashing allegations as it halves its environmental criteria despite continuing to label investments 'green'. LINK
Meta's design systems face scrutiny in a trial questioning its platform's addictive nature. LINK
The ACCC accused Coles of focusing on perceived value rather than actual savings, spotlighting pricing strategies. LINK
The European Commission has initiated an investigation into Shein for selling illegal products. LINK
QBE Insurance reported a profit rise of $3.05B, driven by strong investment returns as its shares rose 7.4%. LINK
Apple is rumoured to release its first folding iPhone, which may feature a new design reminiscent of a small tablet. LINK
Guzman y Gomez faces challenges in its US expansion while it experiences rapid growth in Australian markets and reports a significant interim profit increase. LINK
Alliance Aviation Services incurred a US$105.8M loss due to fleet impairments and unprofitable customer arrangements, with plans for operational improvements. LINK
Qube reported a 6.9% rise in first-half profit to US$144.7M, supported by recent acquisitions, as it prepares for a US$11.7B acquisition by Macquarie Asset Management. LINK
Crown Melbourne is undergoing a $200M redevelopment to enhance its food and beverage offerings, aiming to win back Melburnians with new dining options. LINK
I-MED Radiology will acquire Radiology Group, expanding PET and MRI services across Western Sydney and the Hunter region. LINK
Latitude Group saw a 59% profit increase and improved margins as its shares surged by 7.8%. LINK
Rio Tinto has lobbied the Australian government to maintain an $11B fuel tax rebate, arguing that electrification of mining trucks is still years away. LINK
Inghams' first-half profit dropped 65% to US$18.1M as costs increased, resulting in a reduced earnings forecast for a full year. LINK
Austal secured a $4B contract from the Australian Department of Defence, planning to build 8 Landing Craft Heavy vessels. LINK
Telix Pharmaceuticals posted a $7.5M net loss for 2025, citing increased finance costs and amortisation despite a 56% revenue increase. LINK
Megaport's first-half loss narrowed to US$3.3M as the company adjusted revenue guidance following the acquisition of Latitude.sh. LINK
ONE MORE SCROLL
Editor’s Pick: The no. 1 healthiest bread with the most fibre and protein, according to a dietitian.
Draft Pick: Australia's Bree Walker and Kiara Reddingius 10th in two-woman bobsleigh at Milano Cortina Games.
Odd Pick: Egyptian strongman wrestler pulls ship with his teeth.
TOGETHER WITH
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TRIVIA
In the world of performing arts, there is a specific name for a group of people hired specifically to sit in the audience and applaud. What is this group called?
Answer below
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