🗞️ Crunch the numbers

Good morning. A London banker-turned-bookmaker took down the Texas lottery jackpot worth $95 million with an ambitious strategy that gave him a 99.3% chance of winning.

Bernard Marantelli, aka 'The Joker', worked out there were 25.8 million potential number combinations and at $1 a ticket, he could make nearly $60 million.

The operation involved printing nearly 100 tickets a second over 3 days in a 'sweatshop'-like operation. Bernard and his associates do this regularly and are estimated to throw $10 billion dollars into schemes every year. Surely this is a Netflix documentary waiting to happen.

All the headlines and more below...

AUSTRALIAN NEWS

1 in 3 students fail to meet national maths proficiency levels

• Australian values have shifted towards individualism as 58% of people remain optimistic about their personal future while only 34% feel hopeful for the nation's outlook. LINK

• The nurses' union has demanded up to 35% pay rises for 250,000 private sector nurses whilst urging the government to provide funding. LINK

• Long-term investors maintain optimism despite market downturns whilst historical data shows current levels remain well above previous lows. LINK

• The Australian housing crisis requires supply-side reforms as both major parties propose demand-stimulating measures that could increase prices by 15%. LINK

• About 1.3 million Australian students risk leaving school without requisite numeracy skills to thrive. LINK

GLOBAL NEWS

Terrible timing and huge uncertainty: how ports and shipping are handling tariff turmoil

• Global shipping costs have surged as exporters rush to beat upcoming US tariffs whilst disrupting supply chains. LINK

• The Trump administration has indicated it will develop new tariffs on the semiconductor industry as an exemption was issued for items such as smartphones, computers, hard-drives and flat-panels arriving from China. LINK

COMPANY NEWS

BOQ faces $200M dispute over branch buybacks

• Bank of Queensland faces legal action from 70 former branch owners seeking $125M-$200M for compulsory buybacks whilst initially paying $115M-$125M. LINK

• Coles has implemented a 12-week trade planning cycle for fresh produce discounts to improve supplier coordination. LINK

• Scape enters exclusive talks to acquire Brookfield's Aveo business with a $3B-plus offer. LINK

• Bally's and Star Entertainment completed a $300M rescue deal that could give the investors 56% ownership through equity conversion. LINK

• Chemist Warehouse secured $500M in sales from supermarkets through health, beauty and home products. LINK

• TSMC is expected to report a 54% rise in quarterly profit to US$10.7B driven by AI chip demand. LINK

• EBR Systems has received FDA approval for its wireless heart pacing device. LINK

• Global fintech IPOs including Klarna and eToro face delays due to market uncertainty from US tariff policies. LINK

CHART OF THE DAY

The sporting goods industry growth outlook is expected to soften to about 6% per annum from 2024 to 2029

ONE MORE SCROLL

Editor’s Pick: A Himalayan river may be making Everest taller.

Draft Pick: Masters 2025: Rory McIlroy at last claims green jacket, career grand slam

Odd Pick: Sperm racing? A new sport is coming to Los Angeles.

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BRAINTEASER

What letter comes 5th in the sequence below?

1. F

2. E

3. I

4. R

5. __

Answer below

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ANSWERS

H

The sequence consists of the first, second, third, fourth, and fifth letters of the corresponding words ‘FIRST’, ‘SECOND’, ‘THIRD’, ‘FOURTH’ and ‘FIFTH’.

1. FIRST = F
2. SECOND = E
3. THIRD = I
4. FOURTH = R

This means:
5. FIFTH = H

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