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Dior, Adidas & Domino's Pizza
PwC Australia botched tax returns for senior personnel, leaving partners with unexpected tax bills of up to $300,000.
Pick & Scroll News
July 18, 2024
One Read, All Perspectives
AUSTRALIAN NEWS
The cost of a university degree in law, economics or history will reach $50,000 in 2025, with most arts and law degrees costing $17,000 per year, significantly higher than teaching, maths and agriculture degrees.LINK
New apartment construction starts fell to an 11-year low, with rising costs and union agreements cited as factors hindering housing development. LINK
Australia has become a "food superpower" with a 91% increase in output over the past decade. LINK
Rising inventory levels are creating buyer's market conditions in some Sydney suburbs as sellers rush to list properties before potential interest rate increases. LINK
The next wave of CBD skyscrapers may not emerge for another decade due to the rise of remote work and high vacancy rates in Sydney and Melbourne office markets. LINK.
Australians could use their electric vehicles to charge homes and feed the grid under a proposal by the Climate Change and Energy Minister. LINK
Potential borrowers are struggling to obtain home loans due to high prices, interest rates and stricter lending rules. LINK
Australian athletes are committed to attending the Paris Olympics opening ceremony despite recent security concerns. LINK
Foodproducers in Australia face unsustainable costs and regulatory challenges, with many scaling back operations despite the industry's critical role in the economy. LINK
New superannuationtax rules are expected to add 15% on earnings of balances above $3M. LINK
NSW secured a 14 - 4 win against QLD in last night’s State of Origin.
GLOBAL NEWS
Only 7% of British bosses work full-time in the office. LINK
Taiwanese stocks slipped after Donald Trump's lukewarm commitment to the island's defence. LINK
Cyberattacks against Chinese websites have surged in 2024. LINK
Donald Trump's campaign raised over $600M between April and June, driven by billionaire backing and record donations following his conviction. LINK
Trump expressed his support for TikTok, stating the need for competition against Facebook and Instagram. LINK
The global cruise industry expects a 10% increase in passengers by 2028.LINK
Luxury spending in China is unlikely to rebound this year, with profit warnings from Burberry and Hugo Boss and a 27% drop in sales in China, Macau and Hong Kong from Richemont. LINK
COMPANY NEWS
Adidas raised its full-year forecast for the second time this year, driven by strong Q2 results and the popularity of its Samba and Gazelle sneakers. LINK
Domino's Pizza expects flat to slightly positive store growth, closing up to 80 low-volume stores in Japan and 10-20 in France due to higher media costs and lower advertising funds. LINK
Suzuki Motor plans to cut the weight of its Alto hatchback by 15% over the next decade to reduce energy usage and enhance performance, lowering the vehicle's weight by 100 kg. LINK
Italy's competition authority is investigating Armani and Dior over alleged worker exploitation in their supply chains. LINK
PwC Australia botched tax returns for senior personnel, leaving partners with unexpected tax bills of up to $300,000. LINK
Iress is again a target for private equity buyout, with Blackstone and other parties showing interest. LINK
Dexus and Lendlease are planning 2 new skyscrapers, each over 300 metres for Sydney's CBD.LINK
Lendi Group admitted to franchisees that a technology issue affected customer inquiries and referrals, requiring manual intervention for 2 months. LINK
A hidden camera allegedly captured CFMEU boss Darren Greenfield taking a $5,000 bribe in a suspected kickback deal. LINK
Zip Co will pay a significant fee to eliminate debt and accelerate growth in the US, introducing a "Pay in 8" product for higher-priced items. LINK
BHP set a record for iron ore exports and plans to increase copper production by 10% next year, offsetting declines in nickel and coal. LINK
Ramsay Health Care reported weaker earnings at its French hospitals due to lower subsidies and inflation, and has begun refinancing €1.65B in debt. LINK
GitLab, a cloud-based software development tool provider backed by Alphabet, is exploring a sale. LINK
Fortescue will cut 700 jobs and delay its hydrogen goals, shifting focus to green electricity. LINK
The ANZ board is closely monitoring an internal trading scandal, with an investigation into workplace conduct and market manipulation. LINK
