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Chanel, Ticketmaster & Avian Flu Outbreak
International travel is now surpassing pre-pandemic levels with domestic travel still catching up.
Pick & Scroll News
May 27, 2024
One Read, All Perspectives
Australian News
Australian investors will soon incur a 7.5% hike in financial advice fees from super funds and platforms due to a new ATO tax ruling. LINK
A review criticises the Australian Home Affairs department for being overly focused on crisis management, compromising its preparedness for cyber and border security threats. LINK
Picky eating is linked to poorer cognitive performance compared to those with diverse diets. LINK
Queensland introduces a radical 50 cent flat-rate public transport fare to encourage use and ease road congestion, starting in August for 6 months. LINK
The US bans imports of poultry from Victoria due to an avian influenza outbreak. LINK
Australian insolvency rates are on track for their worst period since the Global Financial Crisis, with the increase in business failures predicted to continue. LINK
Corporate Australia faces a US$10B tax battle with the ATO, as the government intensifies its clampdown on tax avoidance. LINK
Australia lags in housing construction, with development approval times in Victoria and NSW significantly delaying new home supplies compared to global standards. LINK
Queensland union's pay deal threatens energy affordability, with a 13% pay increase for state energy workers. LINK
Canberra electricity bills set to increase, with a call for residents to shop around for better deals as rates rise by 12.75%. LINK
Global News
SEC approves Ethereum ETFs, marking a significant milestone for cryptocurrency investment products. LINK
China intensifies its military exercises around Taiwan as a show of force. LINK
G7 finance chiefs endorse using Russian assets to support Ukraine. LINK
Despite international pressures, Israel continues its military operations in Gaza. LINK
Madrid leads EU with an 11% increase in house prices, driven by housing shortages and a significant influx of investment. LINK
Indonesia plans a US$11B initiative to provide free lunches and milk to schoolchildren. LINK
In a move to strengthen regional stability, China, Japan and South Korea have resumed high-stakes summits. LINK
The environmental impact of single-use plastic sachets is escalating in South-East Asia. LINK
Company News
Canva's major revamp is aimed at the enterprise market, with new tools and features launched to attract large corporate clients and boost subscription revenue. LINK
Xero turns a profit, reversing previous losses with significant customer growth in Australia. LINK
Criticism mounts over Google's AI inaccuracies, with public backlash intensifying after it claimed that Obama was Muslim. LINK
Dell shares hit record high amid AI stock rally, driven by optimism over its new AI-focused technologies in collaboration with Nvidia. LINK
X is being held accountable by an Australian tribunal for hosting hate speech. LINK
Bendigo Bank shares rise sharply after announcing a new 4-year strategy focusing on business lending and a new digital lending platform. LINK
Canva's CEO suggests those unhappy with the company's intense workload could consider working elsewhere. LINK
Luxury French fashion brands like Hermès and Chanel are experiencing a sales boom in Australia, with spending on luxury goods surpassing US$1B last year. LINK
Zurich Insurance turns to AI in partnership with the University of Technology Sydney to streamline mental health assessments in insurance applications. LINK
The US files an antitrust lawsuit against Ticketmaster, alleging it maintains a suffocating monopoly that harms both fans and artists. LINK
News Corp's major restructuring aims to save over US$50M, re-organising into 3 divisions to streamline operations. LINK
Kogan.com faces potential revenue loss from regulatory changes targeting its US$129/year membership scheme. LINK
How do you see the future of travel shaping Australia?
Recent data is showing that international travel is now surpassing pre-pandemic levels with domestic travel still catching up.
Despite increased capacity, domestic air travel has not fully recovered, particularly on routes like Sydney to Melbourne, reflecting ongoing adjustments in corporate and leisure travel post-pandemic.
In contrast, international travel has shown robust recovery, with passenger volumes on the AU East Coast reaching or even surpassing FY19 levels.
There has also been a stable rise in airfare prices as travel dates approach and demand picks up.
What are we liking?
International traffic on the East Coast is now at 100% of pre-pandemic levels, with Melbourne often exceeding these figures.
Increase in strategic capacity adjustments by airline.
What's been challenging?
Ongoing struggles in domestic travel recovery.
Airlines need to adapt to an altered corporate travel landscape.
The focus will likely shift towards enhancing international travel routes and reevaluating domestic strategies to align with new travel norms. The resilience and adaptability of airlines and travel companies will be crucial in capitalising on these trends.
