- Pick & Scroll News by The Aussie Corporate
- Posts
- 🗞️ Cold state
🗞️ Cold state
North Korea has quietly removed the goal of reunification from its constitution.
Pick & Scroll News
May 07, 2026
Was this email forwarded to you? Sign up here
|  |
Good morning. North Korea has quietly removed the goal of reunification from its constitution.
The clause about unifying the motherland survived the Korean War, decades of nuclear standoffs and every diplomatic thaw since - until now.
Kim Jong-un has relabelled the South as his country's "most hostile state" and the revised text defines it as a fully foreign enemy.
All the headlines and more below...
More than 8M people in Australia now access income support. That's 2M more than a decade ago. Mental illness health accounts for roughly one-third of claims across the country's major income support schemes.
Australia spends close to $80B a year on income support, not counting lost productivity.
Australia runs 11 separate income support systems with different definitions, no shared data, and no coordination. By the time someone lands on a payment, they're often already long-term detached from work. The longer they're out, the less likely they are to return.
Insurers want earlier support while people are still working, unified mental health definitions, and a government-led overhaul connecting employers, insurers and agencies in real time.
$80B in direct costs and a system that only catches people after they've already fallen out.
AUSTRALIAN NEWS
The Australian sharemarket has slumped amid RBA rate hikes, while the US market hits fresh highs, fuelled by AI-driven optimism that is spurring more than US$1 trillion in data centre spending. LINK
Coinbase, PayPal and Nissan are planning job cuts totalling over 6,000 roles globally as US JOLTS data shows March hiring rising 655,000 to 5.554 million. LINK
The Financial Stability Board has warned that the rapid rise of private credit lending to AI, healthcare, services and tech could trigger sizeable losses if asset valuations sharply correct. LINK
The government has imposed punitive tariffs of up to 82% on Chinese hot-rolled coil steel exports after the Anti-Dumping Commission found dumped and subsidised imports were materially injuring Australian manufacturers. LINK
Australian banks have assembled a blacklist of mortgage brokers, many of Chinese background. LINK
Australia’s inflation problem has worsened as core inflation stays above the RBA’s 3% threshold and the Iran war lifts headline monthly inflation to 4.6% through higher oil prices. LINK
House values in some suburbs have risen the most over the past 12 months as new property data highlights uneven growth across the housing market. LINK
CANVA FINED $800K FOR FILING ACCOUNTS TWO YEARS LATE JUST AS IT POSTS FIRST PROFIT.
Canva lodged its 2023 and 2024 financial reports in late March, more than 2 years overdue. ASIC fined 4 companies within the Canva Australia Group $198K each for missing the April 30 deadline. The company paid all 4, which means it won't face court.
Canva turned a $25.96M statutory profit in 2025, its first ever, from $3.02B in revenue.
That followed a $425M loss in 2024 on $2.15B revenue, which is a 40% year-on-year growth driven by subscription uptake and the launch of Canva Enterprise. The Australian arm now feeds into a US-domiciled parent valued at $60B.
ASIC says financial reporting misconduct is an enforcement priority. Late lodgement stops creditors from making informed decisions. A Canva spokesman said the company has strengthened its reporting systems and is now fully up to date. That's reassuring for a business planning to list publicly within 2 years.
COMPANY NEWS
Westpac chief executive Anthony Miller has reaffirmed a growth strategy focused on property investor lending after reporting 7% half-year home loan growth as rates and tax risks rise. LINK
Anthropic reportedly committed to spend US$200B with Google Cloud over 5 years, accounting for over 40% of Alphabet's disclosed cloud revenue backlog. LINK
Transurban has acknowledged it misjudged the post-COVID traffic rebound in Melbourne as CityLink volumes remain below 2019 levels and West Gate Tunnel usage lags forecasts at about 40,000 vehicles. LINK
ARN Media reclaimed 3.2M shares each from former Kiis FM hosts Kyle Sandilands and Jackie “O” Henderson after their relationship collapsed and their $200M, 10-year contract unraveled. LINK
Canva reported its first statutory profit in 2025 with a $25.96M profit after tax on $3.02B revenue, after a $425.47M net loss on $2.15B revenue in 2024. LINK
Uber reported a 21.7% jump in Australian revenue to $4.6B while profit slumped 59% to $8.73M as administrative expenses surged to $2.07B amid an $81.5M payroll tax dispute. LINK
JB Hi-Fi reported a 4% increase in Australian Q3 sales with New Zealand up 23.2% and The Good Guys up 2.5% while flagging stock shortages and rising supplier costs. LINK
Woolworths launched RFPs for its estimated $8M Australia and New Zealand creative account as new CMO Sean Barrett reshapes marketing while facing an ACCC price-gouging case. LINK
Accor is rebranding Peppers Waymouth Adelaide as a Movenpick hotel from December and is negotiating with more developers to expand the premium brand across Australia and New Zealand. LINK
AUSCORP SALARY BENCHMARK
Salary Vault is our community-driven tool built on real, anonymous salary data from Australian professionals. Consulting, banking, law, tech - all live. Submit yours and see how you stack up.
The community asked for salary transparency, so we built it. Now we just need you to tell us if we got it right (or wrong) so reply to this email if you have anything to share!
ONE MORE SCROLL
Editor’s Pick: Olympic stadium in Victoria Park cleared by environmental department.
Draft Pick: Big question amid Tszuyu boxing family feud.
Odd Pick: An ‘escaped zebra’ at an Armenian zoo was actually a painted donkey.
TRIVIA
Today’s puzzle appeared on the 1% Club UK. It was the last question on the show, meaning that just 1% of the population could solve it correctly within the 30 second time limit.
The question is: What word is represented by the times on the clocks above? (For clarity, the times on the clocks, going from left to right, are: 12 o’clock, 1 o’clock, 2 o’clock, 5 o’clock, and 12 o’clock).
Answer below
OUR SOCIALS
 |
ANSWER
LABEL
If you convert the o’clock time on each clock to the corresponding letter of the alphabet, the word LABEL is spelled.
12 o’clock = 12th letter of the alphabet = L
1 o’clock = 1st letter of the alphabet = A
2 o’clock = 2nd letter of the alphabet = B
5 o’clock = 5th letter of the alphabet = E
12 o’clock = 12th letter of the alphabet = L
Together, these letters spell the word ‘LABEL’.
Was this email forwarded to you? Sign up here