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Ferrari, Fast Food & Floppy Disks
Nearly 40% of Australian workers are now mandated to work in the office full-time, doubling from last year as employers push back against hybrid work.
Pick & Scroll News
July 11, 2024
One Read, All Perspectives
Australian News
House price growth in Australia is expected to slow to below 5% due to affordability issues and high borrowing costs. LINK
Nearly 40% of Australian workers are now mandated to work in the office full-time, doubling from last year. LINK
Psychology has become the most in-demand postgraduate degree in NSW and the ACT, but over 40% of university courses offered nationally have stopped new student intakes or have shut down completely. LINK
Australia's fast food industry has seen an increase to over $136M in investment transactions in the past year. LINK
AI is helping job applicants prepare for interviews and write cover letters, with nearly half of recent hires using AI in job apps. LINK
The VIC government plans to increase death probate fees by up to 650%, significantly raising the cost for estates over $5M. LINK
Investment sales volumes in Australia's commercial property market have rebounded, driven by offshore buyers. LINK
Australian authorities intercepted a second boat of illegal immigrants within a week, providing them with fuel and food before sending them back to Indonesia. LINK
The CFMEU’s new NSW wages deal and rising building costs are expected to add 10% to the cost of new apartments, more than double the rate of inflation. LINK
Australian EVs have successfully fed power back into the national grid during an outage. LINK
A Northern Territory outback town has resorted to raising chickens to improve food security amid an egg shortage caused by bird flu outbreaks in NSW and Victoria. LINK
Sydney hotels performed strongly in June thanks to the Vivid festival, but hotels on the edge of the CBD saw little benefit. LINK
Global News
Japan has eliminated the use of floppy disks in all its systems in a campaign to modernise the bureaucracy. LINK
Global physically backed gold ETFs saw inflows for the second consecutive month in June. LINK
India's inflation edged up in June due to a sharp rise in vegetable prices caused by extreme weather conditions. LINK
Global shipments of PCs rose by 3% in Q2, driven by demand for AI-capable devices. LINK
French police have ramped up efforts against counterfeit fashion ahead of the Paris Olympics, confiscating 63,000 fake items in a major raid. LINK
Company News
Apple seeing the largest growth among PC makers. LINK
Elon Musk's AI startup xAI and Oracle have ended talks on a potential $10B server deal, impacting xAI's access to Nvidia's AI chips. LINK
Telstra publicly disclosing the phone details of over 140,000 customers, including domestic violence victims. LINK
New Star Entertainment CEO says the company's future lies in its restaurants and hotels as the casino business struggles to regain its former glory. LINK
Star Entertainment is hiring former Crown Resorts executives as it faces similar regulatory challenges. LINK
Shein plans to invest €250M in the UK and Europe over 5 years, aiming to improve its market presence ahead of a potential IPO. LINK
Ferrari's first electric car, scheduled for 2025, may cost over $800,000. LINK
Mercedes-Benz reported a 6% decline in Q2 sales, driven by a slump in demand for battery-EVs. LINK
BMW's Q2 sales fell by 1.3% YoY, with significant declines in China and Germany, though sales of battery-EVs increased by 22.2%. LINK
Microsoft and Apple have stepped away from OpenAI's board amid increasing regulatory scrutiny of Big Tech companies' investments. LINK
Samsung Electronics' largest labour union has declared an indefinite strike, raising concerns of production disruptions in the global chip industry. LINK
IAG may reconsider acquiring RACQ's insurance business, potentially leveraging its experience with other motoring clubs to expand its operations. LINK
Incitec Pivot has abandoned talks to sell its fertiliser business to Indonesian buyer, opting instead for a $900M share buyback. LINK
