🗞️ Game theory

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Good morning. Yesterday we asked how many of you would forgo a 2.5% pay rise to help save jobs at your company.

79% of you said would take the pay rise while the remaining 21% think it would be better to forgo. We presume that 21% would come down if you knew your job was safe and you were helping save someone else's job...

One person who is definitely in the 21% is Caspian, who was on The Chase this week. He 'outraged' the British public by taking the -£10,000 offer to cut his teams earnings from 40K to 30K. Nice to see a country united at least.

All the headlines and more below...

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🎧 Your morning wrap on-the-go LINK

AUSTRALIAN NEWS

Politicians among Australia’s most prolific landlords

• A recent report reveals that nearly 70% of federal politicians in Australia own multiple properties, with 10 MPs owning 5 or more, following Prime Minister Anthony Albanese's purchase of a $4.3M beach house. LINK

• Recent changes by the ATO have expanded the tax-deductibility of certain financial advice fees, potentially making it more affordable for Australians to seek professional financial guidance. LINK

• Private health insurers are negotiating with the Albanese government for a premium increase of 5-6%, potentially the highest since 2016. LINK

• Australia's federal and state governments are experiencing a historic spending surge, with public sector demand rising from an average of 22.5% of GDP to a record high of 27.3% in the June quarter this year. LINK

• As CEOs increasingly push for a return to in-office work there’s a new divide between executive preferences and research findings on hybrid work models. LINK

• The Australian legal profession is increasingly adopting generative AI to enhance efficiency in processes like discovery and predictive coding. LINK

• As the October 28 switch-off of 3G networks approaches, about 60,000 handheld devices will be rendered unable to contact emergency services unless updated to 4G or 5G compatibility. LINK

• The federal government plans to ban dynamic pricing and hidden fees in concert ticket sales following a Four Corners investigation that exposed exploitative pricing practices by companies like Live Nation and Ticketek. LINK

• Australian youth are facing significant challenges with excessive screen time and the influence of AI. LINK

• Residents in the Illawarra postcode 2515 in NSW can access $5.4M in federal subsidies through the Electrify 2515 Pilot program to transition to electric appliances and support the creation of Australia's first net-zero suburb. LINK

GLOBAL NEWS

UK jobless to be given weight-loss jabs to get them back to work

• The UK government plans to provide weight-loss injections to unemployed individuals as part of an initiative to improve their health and help them return to work. LINK

• Elon Musk has contributed $75M to support Donald Trump's campaign efforts, positioning himself as a major political donor as he aims to influence the upcoming US presidential election and boost Republican turnout in key battleground states. LINK

• Hanni, a member of K-pop group NewJeans, emotionally testified before South Korean MPs about industry harassment and the pressures faced by idols. LINK

COMPANY NEWS

Nike-sponsored Melbourne Marathon Festival apologises after sharing photo of winner with Asics logo edited out

• The Melbourne Marathon Festival, sponsored by Nike, has issued an apology after editing out the Asics logo from a photo of a winner, following backlash from social media users. LINK

• Franchisees of the Bank of Queensland have accused the bank of undervaluing their businesses and breaching the franchising code. LINK

• AustralianSuper has made a significant investment of $2.2B for a 20% stake in US-based DataBank. LINK

• Goldman Sachs reported a 45% profit increase in Q3, driven by strong equity-trading revenue and investment banking fees. LINK

• ASIC is investigating Super Retail Group over the handling of complaints from 2 whistleblowers who are currently suing the company in a Federal Court workplace dispute. LINK

• Qantas plans to increase its international capacity by nearly 250,000 seats in 2025 with the return of two Airbus A380s and will launch government-supported Brisbane-to-Palau flights. LINK

• Rio Tinto is reviewing its iron ore operations amidst a declining Chinese property market and shifting commodity demands. LINK

• Lufthansa will pay a record US$4M penalty to the US government for denying boarding to 128 Jewish passengers in May 2022, following allegations of discrimination linked to the group's attire and the reported misbehaviour of some individuals. LINK

CHART OF THE DAY

The World’s Best (and Worst) Pension Systems in 2024

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Editor’s Pick: The Moon is getting its own time zone.

Draft Pick: Thomas Tuchel was named England’s new football manager.

Odd Pick: Las Vegas man climbs the height of Everest in his own home.

TRIVIA

Beer tsunami

On this day in 1814, London had a beer flood which claimed the lives of 8 people. 320,000 galloons of beer created a beer tsunami down Tottenham Court Road. For today’s trivia, can you tell us the country of origin of the 6 beers below:

1. Heineken

2. Guinness

3. Asahi

4. Peroni

5. Stella Artois

6. Carlsberg

Answers below

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ANSWERS

1. Netherlands
2. Ireland
3. Japan
4. Italy
5. Belgium
6. Denmark

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