- Pick & Scroll News
- Posts
- Ferrari goes Electric, McDonald's AI & The Coalition's Nuclear Energy Plan
Ferrari goes Electric, McDonald's AI & The Coalition's Nuclear Energy Plan
Australian insolvencies reached a record high in May with 1,245 insolvency appointments, a 44% increase from last year, as economic conditions deteriorate. LINK.
Pick & Scroll News
June 20, 2024
One Read, All Perspectives
Australian News
Australia won 8 Best in Show awards at the Decanter World Wine Awards in London, led by South Australia. LINK
Australian insolvencies reached a record high in May with 1,245 insolvency appointments, a 44% increase from last year, as economic conditions deteriorate. LINK
The RBA is considering raising interest rates due to economic improvement in all states except Victoria, despite holding rates steady this week. LINK
Self-driving cars are 5 times more likely to be involved in accidents during low-light conditions, though generally safer for routine tasks. LINK
The Coalition's nuclear energy plan for 7 reactors by 2050 faces criticism from heavy energy users for not addressing short-term energy security and affordability. LINK
Peter Dutton's nuclear energy debate raises questions among business leaders about its timing and relevance to current energy issues. LINK
Despite efforts, female representation in Australian funds management is declining at the portfolio manager level, though improving at analyst levels. LINK
Australia's state debts could reach $800B by 2028, tripling from pre-pandemic levels due to large deficits. LINK
Employers are offering permanent desks to lure workers back to the office, moving away from hot desking that became popular before the pandemic. LINK
Global News
China's copper inventories have reached their highest levels since 2020 due to weak consumer demand and a recent price spike. LINK
Kim Jong Un has vowed full support for Vladimir Putin's war in Ukraine during a summit in Pyongyang. LINK
More than 30% of European commercial real estate assets are considered stranded due to stringent energy-efficiency requirements. LINK
Company News
McDonald’s is discontinuing its AI-powered drive-through system after numerous order errors, including an incident where a customer received bacon ice cream. LINK
Apple has paused work on its next high-end Vision headset to focus on a more affordable model with fewer features, set to launch next year. LINK
Nvidia has become the world's most valuable company, surpassing Microsoft, as demand for its AI processors soared. LINK
Johnson & Johnson faces a class action lawsuit seeking damages and medical monitoring for women allegedly harmed by its talc products. LINK
Shein faces tighter scrutiny on trademarks under new EU rules that will require the e-commerce giant to prevent listings of counterfeit products. LINK
Ferrari's first electric car, set to launch next year, will cost at least €500,000. LINK
QBE will exit US$500M of North American business, cutting up to 150 jobs, as part of a restructuring to focus on markets with more meaningful positions. LINK
REA Group has taken full ownership of Australian proptech company Realtair to enhance its digital offerings for real estate agents. LINK
Qantas has been using AI since 2018 to dynamically adapt flight routes to weather patterns and aircraft capability, saving fuel and improving efficiency. LINK
Optus is increasing its mobile plan prices by about 5% from August 5, citing network upgrades to 5G and rising customer demands for faster internet speeds. LINK
Telstra joined a United Nations AI panel to promote ethical AI development, while also raising broadband plan prices by almost 5% and cutting 2,800 jobs. LINK
Mirvac plans to sell 2 office towers in Melbourne and Sydney for a combined $485M, at over 20% discounts to their peak values. LINK
A US judge allowed Andrew Forrest to proceed with a lawsuit against Meta over scam ads on Facebook that promoted fake investments. LINK
NAB's investment in Zodia Custody indicates a crypto strategy focused on safeguarding digital assets for institutional investors. LINK
This Week’s Top Picks
The NSW government will invest $5.1B in social housing, building 8,400 new and refurbished homes as part of a broader plan to construct 30,000 homes. LINK
RBA left the cash rate on hold at 4.35% but warned that government spending could stoke demand and inflation remains a concern. LINK
You can now use an online statutory declaration for sick leave without a JP signature, reducing the need for doctor visits for documentation. LINK
China announced that Australians can travel to China visa-free for up to 15 days. LINK
Passive superannuation strategies at Australia's largest funds are outperforming active ones, with double-digit returns. LINK
Surgeons are Australia's highest-paid professionals, earning over $480,000 annually. LINK
Building inflation is set to surge again driven by rising wages, increased demand for materials, and transitions to lower-carbon alternatives. LINK
Qantas is offering discounted business class and premium economy seats on international routes for the first time in 5 years. LINK
ANZ is implementing a new policy allowing wealthy customers in 145 postcodes to borrow up to 95% of a property's value without mortgage insurance. LINK
