eBay, Netflix and Taytay Ticket Scams

Australian News

• New IPOs on the ASX may remain subdued in 2024 unless market confidence improves, as 2023 saw a record low of 32 new listings despite an 8% growth in the ASX. LINK

• Claims for damages caused by ex-Tropical Cyclone Jasper and the Christmas/New Year storms have exceeded $743 million, with another cyclone off north Queensland expected to further increase insurance costs. LINK

• Mandatory climate disclosures for Australian companies may lead to a surge in securing emissions offsets. LINK

• Unions seek a multi-employer agreement for NDIS providers to raise pay for hundreds of support workers. LINK

• Sydney house prices have more than doubled in the past decade and could double again in the next 10 years if recent growth rates continue. LINK

• Sydney's median house price reaches a record $1.6 million, while unit values fall behind. LINK

• More than half of newly registered apartments in NSW since 2016 have had at least one serious defect. LINK

• Australian median rental prices break the $600 per week barrier, with the average household spending 31% of income on rent, up from 26.7% in March 2020. LINK

• High-fee private schools experienced the largest fee increases in 2024, particularly in affluent areas like Sydney’s eastern suburbs and Canberra, due to government policies reducing subsidies for schools with wealthier parents. LINK

Global News

• Thai Prime Minister Srettha Thavisin declares the country's economy is in crisis and promises additional stimulus measures to boost growth. LINK

Company News

• eBay announces plans to lay off about 1,000 employees, or 9% of its full-time workforce, through Zoom meetings. LINK

• The Flight Attendants Association of Australia criticises Qantas' new safety video for being elitist and sexist. LINK

• Commonwealth Bank reaches record high share prices. LINK

• The ABC is developing its own AI model for news enhancement, while cautioning staff against using external AI platforms like ChatGPT for content creation. LINK

• Woolworths CEO Brad Banducci acknowledges a misreading of public sentiment regarding Australia Day merchandise, amid backlash and calls for boycotts. LINK

• Netflix surpassed Wall Street's subscriber estimates in Q4, adding 13.1 million subscribers, with its total subscriber count now at 260 million. LINK

• Boeing will pause production and delivery of 737 aircraft for a quality stand down. LINK

• SAP announces a restructuring plan impacting over 7% of its workforce (around 8,000 employees). LINK

Other Picks

• Fake Taylor Swift ticket scams in Australia led to losses of over $135,000, with the highest incidences in New South Wales and Victoria, as scammers utilised hacked social media accounts to sell counterfeit tickets. LINK

   

This Week’s Top Picks

• One-third of Australian homeowners face mortgage stress, struggling with January repayments. LINK

• A record number of Australians are expected to struggle with electricity bill payments this year. LINK

• High earners in Australia may face tax adjustments, with the Albanese government promising tax relief for all Australians, including those in the lowest tax brackets. LINK

• Apple releases iOS 17.3, which adds a Stolen Device Protection feature. LINK

• A sales representative was awarded over $26,000 in compensation after being unfairly dismissed for working from home on days mandated for office attendance, as per a ruling by the Fair Work Commission. LINK

• European governments are neglecting defence spending and military preparedness, leading to vulnerabilities similar to those of the late Roman Empire. LINK

• Flight delays and cancellations soared in December, with over 2,200 services affected, prompting calls for an aviation inquiry. LINK

• A suspected 10 tonnes of material containing asbestos has been found at Rozelle Parklands in Sydney, sparking an emergency response from NSW's environment watchdog. LINK

• Australia's loss of over 65,000 jobs in December was the largest fall since 1993 outside of Covid lockdowns. LINK

• Nearly half the value of Australia's top 100 listed companies, about $1.18 trillion, is unaccounted for due to the varying ways accounting rules classify assets. LINK

• The ATO plans to crack down on tax minimisation schemes used by partners at big four consultancies. LINK

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