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Free Public Transport, IMAX Expansion & Siri Overhaul
Atlassian criticises the 4-day work week trend. Why?
Pick & Scroll News
May 14, 2024
One Read, All Perspectives
Australian News
Western Australian farmers express dismay over the Albanese government's ban on live sheep exports, fearing economic repercussions for the agricultural sector. LINK
A $5.5 billion Brisbane-to-Sunshine Coast rail link is confirmed ahead of the Olympics, aiming to enhance connectivity with a 19-kilometre stretch from Beerwah to Caloundra. LINK
In Gisborne VIC, booming construction has led to fines for builders dumping waste on farmland. LINK
Debate intensifies over making public transport free in Australia, as it ranks as the third most expensive globally. LINK
South Australian legislation aims to ban social media for children, but experts argue holding platforms accountable is a more effective approach. LINK
International airfares drop by an average of 13%, with significant price reductions to competitive destinations like Bali, New Zealand, and the US, according to Flight Centre data. LINK
Younger renters in Australia are cutting back on discretionary spending like dining out and gym memberships due to rising living costs, while Boomers continue to spend around 5 times the growth of younger renters. LINK
Australian federal budget to continue $20,000 instant asset write-off for small businesses to encourage investment in assets like computers and cars. LINK
Australian home prices are still expected to rise further, driven by a housing supply shortage exacerbated by record migration and building constraints. LINK
Australia's radio industry sees a significant drop in advertising revenue, falling 23% from last year's peak due to higher interest rates and tough economic conditions. LINK
Global News
China launches a significant bond sale to fund stimulus, aiming to raise 1 trillion yuan (A$213 billion) through long-term bonds to meet its 5% growth target. LINK
Company News
Nvidia is increasingly seen as an inflation hedge, rivalling traditional safe-haven assets like gold. LINK
Atlassian criticises the 4-day work week trend, arguing that productivity should be measured by output, not hours, after trials revealed mixed results. LINK
Lendlease faces potential second profit downgrade after receiving its $112M tax bill for a 2017 transaction. LINK
Elon Musk's social media platform X has won a court case against the Australian government, allowing the reinstatement of videos linked to the Church stabbing. LINK
Star Entertainment remains vulnerable to criminal activities, lagging in remedial actions amid leadership voids. LINK
IMAX plans to expand its presence in Australia, targeting up to 40 new screens across the country to capitalise on its strong movie-going market. LINK
An automated Rio Tinto iron ore train derailed in WA's Pilbara, sparking an investigation into the incident involving the collision with stationary wagons. LINK
PwC Australia restructures into 3 key divisions, focusing on areas like artificial intelligence and climate, without resulting in job losses. LINK
Amazon commits over €1.2 billion (A$1.96 billion) to its French operations, creating 3,000 new jobs as part of France's "Choose France" initiative to attract foreign investment. LINK
Microsoft must pay $242 million to IPA Technologies for infringing a patent with its Cortana virtual assistant. LINK
ASIC has launched an investigation into ANZ over allegations of market manipulation related to the sale of government debt. LINK
Apple plans to overhaul Siri to enhance its conversational capabilities and competitiveness with advanced chatbots. LINK
ANZ is reconsidering its stance on the Bank@Post deal, amid heightened political scrutiny and a forthcoming Senate report on rural branch closures and banking accessibility via Australia Post. LINK
This Week’s Top Picks
Nestle reveals 'shrinkflation' tactics in Australia, providing a Senate inquiry with details on how it reduced product sizes to manage cost pressures while maintaining prices. LINK
Western Australian government's spending surged by nearly 9% in FY23-24 due to unprecedented migration, pushing its population towards 3 million and straining public services like education and healthcare. LINK
Australian government's budget to include a $3 billion HECS debt relief, with plans to adjust debt indexing to the lower of WPI or CPI starting from last year to ease student financial pressures. LINK
New federal regulations aim to cap international student intakes, linking enrolment limits to university investments in student housing. LINK
Borrowing to invest in property remains more popular than shares among Australians due to the volatility and higher risks associated with share investment, despite the growing appeal of internally geared ETFs. LINK