🗞️ Chump change

Good morning. If you've got a spare $65 million USD, we might have found the house for you.

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All the headlines and more below...

AUSTRALIAN NEWS

Surprise as city with worst Uber passengers revealed

• Uber data shows NSW leads Australian customer ratings at 4.84, while Western Australia ranks lowest at 4.79. LINK

• A new study shows 54% of young Australian men and 47% of women aged 18-29 continue living with their parents due to rising living costs. LINK

• ASIC plans to expand cryptocurrency oversight, requiring exchanges to be licensed while offering a "safe harbour" for startups that quickly apply. LINK

• WA construction workers experience suicidal thoughts at 3 times the national average. LINK

• Australia has set a new record for electric vehicle sales, surpassing 100,000 units sold this year. LINK

• The ACCC has called for enhanced internet user choice amid concerns over Google's search market dominance and AI integration - Google dominates almost 94% of the AU search market, with its nearest rival – Microsoft-owned Bing – having 4.7%. LINK

• Australian primary school students achieved their best-ever results in the 2023 international mathematics and science study. LINK

• Net migration will fall 82,000 below pre-pandemic projections by 2025. LINK

• 66% of Australian banks are failing to implement adequate email authentication protection, leaving customers exposed to potential fraud. LINK

• Nearly 13,000 homes and businesses in far west NSW experienced a 2-hour power outage due to a transmission line fault. LINK

GLOBAL NEWS

South Korea’s president, Yoon Suk Yeol, facing impeachment after martial law shock

• South Korea's opposition parties have moved to impeach President Yoon Suk Yeol following a controversial 6-hour martial law declaration, sparking a national political crisis. LINK

• Australia has joined 156 countries in voting at the UN to demand the end of Israel's presence in the Occupied Palestinian Territory. LINK

• OECD forecasts global economic growth of 3.2% in 2024 and 3.3% in 2025-26, supported by lower inflation and job growth, while warning of risks from rising protectionism. LINK

• A major study by University College London has found that most teenagers recover from long Covid within 2 years, while noting additional research is needed to understand ongoing cases. LINK

COMPANY NEWS

Bunnings holds top spot as most trusted Aussie brand

• Coles and Woolworths have dropped significantly in brand trust rankings, while Bunnings maintains its position as Australia's most trusted brand according to a Roy Morgan survey, with Qantas and TikTok among the least trusted. LINK

• CBA has paused its planned $3 withdrawal fee for branch, post office and phone transactions following public backlash and intervention from Treasurer Jim Chalmers. LINK

• Emirates has secured a $35M sponsorship deal for the Australian Open, dropping Formula 1 and Melbourne Cup commitments. LINK

• Tabcorp's new CEO Gillon McLachlan has cut 10% of the workforce, approximately 200 jobs, as part of a cost-cutting initiative. LINK

• Woolworths' Christmas treats have undergone "shrinkflation" with smaller portions at higher prices compared to last year. LINK

• Bunnings disputes claims of controlling 70% of plant sales, an issue under parliamentary inquiry scrutiny. LINK

• Ausgrid power workers have ended their 4-month work bans after reaching an in-principle pay deal. LINK

• Amazon has become Australia's second-largest online retailer, challenging Coles and Woolworths. LINK

• Lululemon faces its slowest quarterly growth in 4 years, with revenue rising 7% to $2.36B amid increased competition. LINK

CHART OF THE DAY

Majority supports social media ban for children

ONE MORE SCROLL

Editor’s Pick: Pizza Hut opened an NYC restaurant for 1.

Draft Pick: Young Matildas take their opportunities to shake off a scare against Taiwan.

Odd Pick: Don’t sit on the toilet for more than 10 minutes, doctors warn.

TRIVIA

Multi-games

Sporting trivia to kick off your Thursday:

Can you name the 7 countries that have hosted the summer Olympics twice?

Answers below

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ANSWERS

United States:
- St. Louis (1904)
- Los Angeles (1932, 1984)

United Kingdom:
- London (1908, 1948, 2012)

France:
- Paris (1900, 1924, 2024)

Germany:
- Berlin (1936)
- Munich (1972)

Australia:
- Melbourne (1956)
- Sydney (2000)

Greece:
- Athens (1896, 2004)

Japan:
- Tokyo (1964, 2021)

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