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- Drought in Panama Canal, Nepal's Earthquake, and Company Collapses
Drought in Panama Canal, Nepal's Earthquake, and Company Collapses
Modern NBA players according to science, Zuckerberg's ACL injury during MMA training, and Block's 1.5K staff layoff.
Pick & Scroll News
November 06, 2023
One Read, All Perspectives
Australian News
October saw a 43% leap in company collapses in Australia, partly due to an aggressive tax office and impending interest rate rises as the holiday slowdown approaches. LINK
Bookies are finding it hard to make a buck as taxes and inflation bite - Racing Victoria saw its total wagering revenue fall 7.3% compared to last year. LINK
Small to medium businesses (SMBs) in Australia face heightened cyber attack risks. LINK
Advertising contributed a remarkable $53B to Australia’s economy in 2022, with $17.7B spent on ads, marking a 12% increase in economic impact since 2014. LINK
An increasing number of millennials are migrating from cities to regional areas in Australia, perpetuating a post-pandemic trend driven by the high cost of urban living. LINK
Construction workers are found to be 6 times more likely to die by suicide than from work-related accidents. LINK
The surge in public sector infrastructure spending in Australia might exacerbate the anticipated residential construction downturn, potentially impacting the Albanese government's ambitious pledge to construct 1.2 million homes. LINK
Global News
Nepal experiences its worst earthquake in 8 years, with a magnitude initially reported as 6.4 but later downgraded to 5.6 or 5.7, leading to at least 157 fatalities. LINK
Elon Musk warns that without imposing nominal user fees, social media platforms risk being overwhelmed by AI-powered bots by next year. LINK
Hamburg's airport faces a hostage situation as a man with a child breaches the airport perimeter, forcing a shutdown of airport operations. LINK
The ongoing drought triggers a new crisis level at the Panama Canal, where nearly half of vessel traffic faces cuts, potentially impacting $270B in trade that transits through the canal annually. LINK
Company News
Maersk, a global trade indicator, reveals plans to cut at least 10,000 jobs to maintain profitability amidst a challenging shipping market projected to persist until 2026. LINK
Macquarie saw disappointing financial results where the net profit declined by 39% to $1.4B due to market volatility impacting its asset management business. LINK
Block announced a reduction of global staff by 1,500 alongside a surprise $1B share buyback. LINK
Atlassian saw larger losses and a slowdown in customer growth, despite an ongoing transition to cloud-hosted products and increased investment in AI. LINK
Lendlease and Google-parent Alphabet part ways on a $23B plan to develop four master-planned districts in Silicon Valley, citing weaker office demand and cost-cutting measures at Google as contributing factors. LINK
Amazon expands its storage capacity in Western Australia by 500% with a new $70M, 20,000-square-metre fulfilment centre. LINK
Apple reports a full year of declining revenue for the first time in a long while. LINK
Amazon shifts its focus from style apparel stores to bolstering its grocery business. LINK
Coinbase experienced a decline in trading volume for the second consecutive quarter. LINK
Beyond Meat revises its revenue forecast downwards for the second time in three months and plans workforce reduction, reflecting possible weakening demand for plant-based protein. LINK
Other News
According to science, modern NBA players are better than the previous eras, exhibiting enhanced explosiveness in movement despite no significant increase in body size. LINK
Meta CEO Mark Zuckerberg sustains an ACL injury while training for a competitive MMA fight. LINK
FTX founder Sam Bankman-Fried is convicted of stealing $12.5B from customers of his now-defunct cryptocurrency exchange, marking one of the largest financial frauds on record. LINK
Mariah Carey faces a lawsuit from singer-songwriter Andy Stone for alleged copyright infringement over the iconic song "All I Want for Christmas Is You". LINK