Crypto is back, QLD's Sugar Industry, and Japan's Hay Fever Battle

Australian News

• Australian live cattle export prices to Indonesia have plummeted by over 50% in the past 18 months with Indonesia increasing its number of boxed imports.

• Queensland's sugar industry anticipates a $24M boost in sugarcane crop yields in the next year, thanks to successful genomic selection research; Queensland's renewable energy grid is expected to benefit, with the augmented sugarcane crop used in biofuels.

• Over 1,400 dairy workers are set to strike for 48 hours, leading to potential "massive disruption" in Victoria's dairy sector, impacting production of milk, cheese, ice cream and yoghurt.

• Joe Longo, chairman of the Australian Securities and Investment Commission (ASIC), urges patience regarding crypto regulations.

• Experts anticipate Bitcoin's price could reach $US100,000 within 5 years, given the potential approval of the first Bitcoin ETFs, which may attract institutional investors.

Global News

• Japan initiates a massive replanting program targeting forests near major cities to counter the nation's extensive hay fever epidemic that affects 2 in 5 Japanese citizens.

• Bankers foresee the US leveraged loan market, with a staggering $US350B of low-cost loans needing refinancing within 3 years, as the potential epicenter of the next financial crisis.

• In response to rising property crises, Germany's Chancellor Olaf Scholz faces increased demands following a summit intended to save the real estate sector.

Company News

• Westpac is now the smallest of the 'Big Four' banks, by market capitalisation.

• As Tesla slashes prices, investors are now urging Elon Musk to consider advertising.

• Amid a decline in use of pandemic products, BioNTech announces potential write-offs up to 900M Euros (~A$1.5B) for their Comirnaty vaccine.

• The Bank of Queensland recently disclosed in its annual report that retail banking head Martine Jager had $42M in undisclosed commercial loan exposures.

• Penfolds owner Treasury Wine Estates faces a 46% protest vote regarding executive pay after giving share-based incentives to CEO, Tim Ford, despite unexpected profit losses due to China's wine tariffs.

• Citibank triumphs in a lawsuit against Szabolcs Fekete, a banker dismissed for dishonestly claiming expenses for meals with his partner.

• Australia's eSafety Commissioner fines Elon Musk’s X (previously Twitter) $610,500 and warns Google regarding their handling of child exploitation material on their platforms.

This Week’s All Star Picks

• Melbourne and Sydney inner property markets see a decline in investors due to weak capital growth and elevated holding costs; Melbourne's investor-owned listings reach 60% in the September quarter.

• Argentina discloses a 12.7% inflation rise in September, leading to a staggering 138% annual rate.

• Atlassian seals its largest-ever deal, acquiring video-messaging startup Loom for $US975M, investing in remote work trends.

• Canva informally advises emerging startups on hiring in Manila, contrasting tech industry appeals for more Australian roles.

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