🗞️ Chasing Cheese

Good morning. The Gloucestershire cheese-rolling festival is now finished for another year with only two people needing to be taken to hospital.

If you aren't aware of the cheese-rolling festival, it's a race down a ridiculously steep 180-metre hill, all in pursuit of a runaway wheel of cheese.

Every year people flock to see chaos unfold with people tumbling down the hill, limbs barely intact. If you haven't seen it before, this 90 second video from this years feature races, sums it up pretty well.

All the headlines and more below...

AUSTRALIAN NEWS

These generations prioritise career progression and learning, but climbing the corporate ladder is not the end goal

• 67% of Australian millennials and 50% of Gen Zs use generative AI at work while expressing concerns about job automation. LINK 

• Home construction costs have risen 39% since the pandemic whilst 70%-80% of investors miss out on tax depreciation benefits due to confusion over FY17 rule changes. LINK

• Australian airfares have increased only 7-12% since 2019 whilst maintaining strong travel demand despite economic pressures. LINK

• Australian wheat faces oversupply pressures due to reduced Chinese demand and Russian competition. LINK

• The ATO has warned against claiming non-work-related expenses after rejecting dodgy claims from $28B in work-related deductions. LINK

• Australian banks are implementing AI systems to reassess branch closures and mortgage management strategies. LINK

• Melbourne hotels achieved a record 1.144 million room bookings in March FY25 whilst room supply increased by 34% since 2020. LINK 

COMPANY NEWS

REA Group responds to ACCC investigation notice

• The ACCC has commenced an investigation into REA Group over alleged misuse of market power in real estate pricing. LINK

• The ASX must pay ASIC's legal costs after losing its challenge to access 12 privileged documents in a lawsuit over the $250M CHESS replacement. LINK

• Retirees WA has initiated legal action over misused prepaid funeral funds affecting thousands of seniors. LINK

• Telstra has unveiled its "Connected Future 30" strategy focusing on future-proofing the company's network for 6G, AI and autonomous driving, while aiming to lift returns from 8% to 10%. LINK

• Telstra expects workforce reductions by 2030 as AI efficiencies impact customer service operations. LINK

• An independent review has revealed widespread bullying, sexism and resistance to change at the Australian National University. LINK

• Volvo Cars will reduce its workforce by 3,000 positions as part of a US$1.9B restructuring plan amid slower EV demand. LINK

• AMP faces a class action trial over alleged superannuation fee overcharging affecting 2.5M Australians. LINK

• BHP will establish an AI hub in Singapore to enhance mining operations through data-driven solutions. LINK

• The EU has given Shein just one month to address consumer protection breaches or face 4% sales fines. LINK

• Qantas failed to properly notify cabin crew about severe turbulence in FY24. LINK

CHART OF THE DAY

The world’s territories without full sovereignty

ONE MORE SCROLL

Editor’s Pick: Simple '30-second rule' can help you win every conversation, even if you're a little awkward.

Draft Pick: Cristiano Ronaldo to switch clubs amid Club World Cup rumours.

Odd Pick: France to open high-security prison in Amazon jungle.

TOGETHER WITH

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TRIVIA

It's National Hamburger Day and to celebrate, we've gone all out with burger trivia. We'll give you a burger and you have to tell us the chain that it's sold at:

1. Tower Burger

2. Grill Master Angus

3. Double Tennessee

4. BBQ Baconmator

5. Guacamole Bacon Angus Burger

Answers below

OUR SOCIALS

ANSWERS

1. KFC
2. Hungry Jacks
3. McDonalds
4. Wendys
5. Carls Jnr

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