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Dubai, RM Williams and A Global Phishing Scam
Woolies admits to underpaying staff by $1.24 million.
Pick & Scroll News
April 19, 2024
One Read, All Perspectives
Australian News
International student arrivals in Australia have plummeted to a 10-year low, with the toughest visa conditions in a decade leading to only 46,570 students arriving last month, amidst reforms and heightened departures. LINK
Australian Defence updates include $330 billion for new military assets, despite concerns over cuts to navy ships and jets, aiming for a 2.4% GDP defence spend by 2034. LINK
Medical researchers are using the word 'delve' 4 times more frequently, a trend influenced by AI tools like ChatGPT, sparking debate over the impact on academic writing. LINK
ACMA cracks down on 18 illegal gambling sites during the FIFA Women's World Cup, as part of efforts to protect consumers from unregulated online betting. LINK
Commercial property construction dominates Australian city skylines, with a shift from residential projects amid the ongoing housing crisis. LINK
Australian police arrest 5 in a global phishing scam, which involved tens of thousands of cybercriminals and affected 94,000 Australians. LINK
Australia's unemployment rate marginally rises to 3.8% in March, reflecting a slight dip in employment and a steady trend unemployment rate of 3.9%. LINK
Global News
Iran's oil exports reach a 6-year peak, selling an average of 1.56 million barrels a day primarily to China, boosting its economy by US$35 billion annually despite potential Western sanctions escalation. LINK
Artificial intelligence growth is threatened by electricity shortages, with industry leaders like Elon Musk and Andy Jassy citing significant energy constraints impacting AI development and data centre operations. LINK
Global grain farmers face narrowing profit margins, with production costs remaining high while grain prices are below 10-year averages, potentially leading to higher prices next year. LINK
Dubai experiences unprecedented flooding following the heaviest rainfall recorded since 1949, causing major disruptions at the world's busiest international airport, with cloud seeding believed to not be the cause. LINK
Company News
Woolworths admits to underpaying staff by $1.24 million, potentially facing fines for failing to correctly pay long service leave to over a thousand Victorian workers due to IT discrepancies. LINK
Solomon Lew increases stake in Myer, using creep provisions to acquire an additional 3% through Premier Investments, bringing his control to 31% as Myer transitions to new leadership. LINK
DroneShield's capital raising upsized to $100 million after strong investor demand, with plans to further advance its drone neutralisation technology. LINK
Transurban's WestConnex traffic surges by nearly 10% since the opening of the Rozelle Interchange. LINK
Goodman Group in talks to sell an $800 million industrial property portfolio to Barings, amidst a booming market driven by the demand for data centres and industrial space. LINK
R.M. Williams invests $8 million in a new production line for women's boots, creating 70 new jobs and reflecting the company's commitment to expanding its product range. LINK
TSMC projects a revenue increase of up to 30% this quarter, fuelled by robust AI chip demand, marking a significant recovery with expectations to reach US$20.4 billion. LINK
ABC's key radio stations experience audience declines, despite recent program revamps. LINK
Bank of Queensland shifts focus from growth to profitability, after recent expansions underperformed, signalling a strategic pivot under CEO Patrick Allaway. LINK
This Week’s Top Picks
YouTube targets ad-blocking software, warning that users employing these tools may experience restricted access to videos or face buffering issues. LINK
Kraft Heinz introduces pink 'Barbiecue' sauce, a vegan BBQ sauce themed after the blockbuster film 'Barbie', currently available in the UK and Spain, with potential plans to expand to Australia. LINK
Qantas joins the Aviation Circularity Consortium to repurpose parts from retired aircraft, supporting the airline's goal of achieving net-zero emissions by 2050. LINK
Business insolvencies in Australia have reached a record high, with significant debts owed to the Australian Taxation Office indicating likely further collapses, particularly affecting businesses in southwest and western Sydney and southeast Queensland. LINK
Record high company collapses in March, with over 1,200 companies entering external administration, spotlight the construction industry's prominence in tax payment defaults and ongoing economic pressures. LINK
12 large suppliers account for half of the total retail value of the fruit and veggie market. LINK
A study by Australian universities predicts that full adoption of artificial intelligence across key industries could boost the Australian economy by over $200 billion annually by the end of the decade, adding 150,000 jobs. LINK
Half of the lawyers in Australia and New Zealand are using generative AI for daily tasks, with almost all believing it will transform legal work. LINK
Australians' consumption of major food groups, including vegetables, fruit and milk, has declined, with total food and beverage sales dropping by 1.9% in the last year. LINK
Petrol prices in Sydney have reached a record high of $2.23 per litre, exacerbated by escalating tensions in the Middle East that could further increase Brent Crude prices. LINK
Australian workers may soon be able to double their annual leave by taking it at half pay, a new flexibility measure under consideration by the workplace umpire and supported by unions and employer groups. LINK
Analysis of student papers shows increasing AI assistance, with about 11% of papers over the past year displaying signs of AI help, and 3% containing at least 80% AI-generated content. LINK
Revenue at holiday and caravan parks surged over the summer due to cost-of-living pressures, with families opting for more affordable vacation options, showing a 12% increase in average revenue and higher occupancy rates. LINK
Board games are being redesigned for the TikTok generation, focusing on faster, simpler gameplay to engage younger players who prefer quick, digestible content. LINK
Golf ranges, hairdressers and dentists are seeing a boost on weekdays due to work from home trends. LINK
Single women in Australia are nearly matching men in home buying, although the total number of solo borrowers is declining due to increasing serviceability challenges. LINK
The Australian government considers significant visa fee increases for international students, possibly including a hard cap on approvals, to manage migration levels ahead of elections. LINK
Australia Post to reduce letter delivery frequency to every second business day starting Monday, aiming to enhance parcel collection and delivery services. LINK