🗞 Fake pass

Good morning. You occasionally hear the odd story of someone faking their own death to see how people react.

A Virginia man has faked his own death by hacking into multiple state registry systems and completing his own death certificates. However this time, the primary driver wasn't to see if anyone cared about him, it was to avoid paying his child support obligations.

He now has 81 months in prison and a big fine, which is significantly larger than his child support payments.

All the headlines and more below...

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AUSTRALIAN NEWS

Gen Z are leading the way on five days a week back in the office

• Gen Z workers are leading the return to 5-day office workweeks, chasing in-person learning and the need for a focused work environment away from shared housing. LINK

• Australian inflation slowed to 3.5% in July from 3.8% in June, the lowest in 4 months, partly due to temporary energy bill rebates. LINK

• Regional housing approvals have sharply declined over FY24 due to worsening affordability, tradie shortages and limited zoned land. LINK

• ~3 million Aussies missed out on $5.1B in superannuation payments in 2021-22, with women and low-paid workers being the most affected. LINK

• Residential construction in Australia declined for the third consecutive quarter in June. LINK

• Australian start-ups are increasingly relying on family support as venture capital funding dries up, with 40% turning to the "bank of mum and dad.” LINK

• Airbnb property owners are slashing prices by over 10% to attract tourists, amid a resurgence in hotel popularity and increased regulations on short-term rentals. LINK

• Cost-of-living pressures are prompting more Australians under 40 to take action on retirement planning, with 49% making moves like salary sacrifice or using online calculators. LINK

• Australian Federal Police officers walked off the job at 7 major airports amidst demands for a pay rise from 11.2% to 20%. LINK

GLOBAL NEWS

Hydrogen-powered skyscraper set for Egypt’s new desert capital

• A $1.5B 50-storey hydrogen-powered office skyscraper (Forbes International Tower) is set to be constructed in Egypt's new desert capital. LINK

• Trump faces new criminal charges related to his alleged efforts to overturn the 2020 election results. LINK

• One-time passwords, often seen as a security staple, are becoming a major target for hackers, with a new campaign attacking Android devices and stealing stolen passwords. LINK

• The UK government is softening its stance on "right to switch off" legislation, opting instead for a code of practice to guide businesses on after-hours employee contact. LINK

COMPANY NEWS

Adairs warns of feather price rises due to bird flu

• Adairs warned of 10-20% price hikes on down pillows and doonas due to a shortage of bird feathers caused by avian flu outbreaks and the high demand for puffer jackets. LINK

• Lego outpaced the global toy market with a 13% rise in first-half sales to $4.65B, driven by strong demand in Europe and North America. LINK

• Pacific Smiles more than doubled its underlying net profit to $8.5M, justifying its appeal in a recent takeover battle. LINK

• Apple cut ~100 jobs from its digital services division, with the largest impact on the team responsible for the Apple Books app and Bookstore. LINK

• Woolworths declared a 40c per share special dividend and reported full-year profit in line with expectations. LINK

• Woolworths has committed to selling deforestation-free beef by the end of 2025. LINK

• Telstra and CBA have expanded their AI-driven scam detection technology to protect senior Australians using landlines. LINK

• Nine Entertainment saw a 22% drop in annual net profit to $216.4M, due to weak TV advertising revenue. LINK

• Nine Entertainment paid $305M for the rights to air the Paris 2024, Los Angeles 2028 and Brisbane 2032 Olympic Games. LINK

• PDD Holdings, owner of Temu, issued a bleak outlook for the Chinese economy amid dampening consumer demand. LINK

• Tabcorp’s new CEO has abandoned aggressive performance targets as the company struggles with a $1.36B loss amid heavy write-downs and competition from online rivals. LINK

• Flight Centre's international ticket sales surged 18% in July as more families took advantage of the 5% dip in prices. LINK

THE ODD PICK

Cleaning staff in Japan find decomposing body of homeowner’s mum who has been missing for 10 years

CHART OF THE DAY

Workers attending office full time v those who want to, by age (%)

TRIVIA

The Beatles

On this day in 1966, the Beatles held their last ever concert. How well do you know, arguably, the most successful musicians of all time?

1. Where did The Beatles form?

2. What is the famous album featuring them walking across the road?

3. Who are the four members of The Beatles?

4. How many studio albums did The Beatles release? (5. 9, 13, 17)

5. What was The Beatles' first single to reach number one on the US Billboard Hot 100?

Answers below

ANSWERS

1. Liverpool, England
2. Abbey Road
3. John Lennon, Paul McCartney, George Harrison, Ringo Starr
4. 13
5. "I Want to Hold Your Hand"