🗞️ Couch potato

It was a big day for VB and petrol yesterday, with the Bathurst 1000 taking over Mount Panorama.

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Good morning. It was a big day for VB and petrol yesterday, with the Bathurst 1000 taking over Mount Panorama.


There was plenty of rain and drama with the Payne/Tander combo taking the win by the slimmest of margins after nearly 7 hours of racing.


But the real winner goes to those who convinced their partners that they could sit on the couch for 7 hours straight. A good couch warm-up before the cricket season starts!


All the headlines and more below...

AUSTRALIAN NEWS

ATO warning issued for tradies as hit list for millions of small businesses revealed: ‘Recurring issues’

  • The ATO has warned small businesses in construction, science and tech of audits and penalties for tax reporting issues like income and expense misstatements. LINK

  • Online shopping is being transformed as more than 50% of shoppers are expected to use AI tools like ChatGPT and Gemini by year-end. LINK

GLOBAL NEWS

A record US$19B evaporated as crypto prices tumble

  • Crypto markets have lost a record US$19B in one day as Trump’s China tariff threats caused leveraged selloffs and poor liquidity among exposed investors. LINK

  • Despite sanctions, Australia is importing refined oil from countries like India that may include Russian crude. LINK

  • China has condemned Donald Trump’s planned tariffs and export curbs whilst warning of worsening tensions in the ongoing US-China trade conflict. LINK

COMPANY NEWS

Qantas cuts evening flights between Alice Springs and Adelaide until March

  • Qantas suspended evening flights from Alice Springs to Adelaide until March 2026 as regional demand weakens in summer months. LINK

  • Qantas has acknowledged a data leak of up to 5.7M customer records after a ransomware demand expired following a breach on a third-party platform. LINK

  • Ferrari cut 2030 revenue and EV targets from 40% to 20% as luxury electric car demand weakens. LINK

  • ANZ is planning a major overhaul of its underperforming retail division whilst initiating major leadership changes. LINK

  • The Australian government banned ANZ from leading bond deals after a $125M penalty for trading breaches and a 2023 failure. LINK

  • JPMorgan mandated biometric data at its new HQ for access as it ended voluntary security measures. LINK

  • Emirates has banned power bank use on flights as lithium battery fire incidents rise, highlighting a growing aviation safety concern. LINK

  • ASIC is seeking compensation from Equity Trustees for investor losses linked to the failed $480M Shield Master Fund as claims of inadequate risk disclosures emerge. LINK  

  • Coles committed to a $100M price-cut investment as it competes with Aldi and Woolworths whilst facing pressure from rising living costs. LINK 

  • Smiggle experienced a 10.7% drop in global sales to $264M in FY25 as leadership changes and rising competition paused its planned ASX spin-off. LINK 

  • Armaguard, which controls 90% of Australia’s cash distribution, faces strike action by 500 workers resisting wage freezes across NSW, VIC and QLD. LINK

  • xAI, led by Elon Musk, is developing “world models” using video and robotics to create advanced AI as it rivals Meta and Google. LINK

CHART OF THE DAY

Young consumers expect brands to speak up

ONE MORE SCROLL

Editor’s Pick: We finally have free anti-robocall tools that work.

Draft Pick: Record-breaking Melbourne Marathon Festival as 50,000 runners hit the road.

Odd Pick: Scientist learns he has won Nobel prize while on digital detox in US mountains.

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