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Gaming, Tesla and Childcare Subsidies
Yahoo acquires AI-driven news platform, How much musicians earned last FY, and Sportsbet's AU division sees a 27% drop in profits.
Pick & Scroll News
April 04, 2024
One Read, All Perspectives
Australian News
A multi-employer agreement in Australia introduces pooled labour for the first time, sparking debate over its potential impacts on job growth and competition. LINK
Despite a $1.5 billion increase in childcare subsidies, there is no significant rise in women's participation in the workforce, challenging the policy's effectiveness. LINK
In Melbourne, four key suburbs targeted for increased housing density haven't seen a major project in five years. LINK
Australian companies are reducing labour costs amid rising government-imposed charges and a new industrial relations regime, marking the first such widespread response in the era of ESG and WFH. LINK
The personal computing and console gaming market is expected to grow at a slower pace through 2026, with gamers playing fewer hours than before the pandemic. LINK
The most common Australian is currently aged 32, significantly shaping housing market demands. LINK
Half of Australian musicians earned less than $6,000 last financial year, pushing many to consider leaving the industry. LINK
Global News
Half of adults in Australia, Germany and the UK feel financially worse off than five years ago, with many living paycheck to paycheck. LINK
Company News
WeWork anticipates $12 billion in rent savings after restructuring its real estate portfolio as part of its bankruptcy process. LINK
Intel reported deepening losses in its foundry business, with a $7 billion operating loss in 2023, highlighting challenges as it seeks to compete with industry leaders like Taiwan Semiconductor Manufacturing. LINK
Negotiations between Singtel and Brookfield over a $3+ billion sale of a stake in Optus have stalled. LINK
Flutter Entertainment warns of challenging times ahead for Sportsbet, its Australian division, after a 27% drop in annual profits, potentially leading to job cuts. LINK
Yahoo acquires AI-driven news platform Artifact, founded by Instagram's co-founders, to enhance its content offerings amidst a tough environment for media startups. LINK
Tesla reports an 8.5% drop in Q1 vehicle deliveries compared to last year, marking its first year-over-year decline since the 2020 pandemic disruptions. LINK
Amazon Web Services (AWS) expands its free credits program for startups to include major AI models, aiming to increase the use of its AI platform Bedrock among innovative tech companies. LINK
This Week’s Top Picks
The construction industry faces a 32% increase in insolvencies this year due to a "tsunami of impossible economic conditions". LINK
Apartment values are outpacing house prices in 50% of suburbs, reflecting worsening affordability for houses and a tight supply in high-density housing. LINK
The fitness industry proposes making corporate gym memberships tax-deductible to encourage exercise, despite it being a challenging sell to the Treasury. LINK
Nearly one in three new jobs created last year was related to the NDIS, masking the slowdown in other sectors such as construction and retail. LINK
Millions of Australians have lowered their credit card limits to cope, with the cost-of-living crisis seeing spending reaching a record high of $35.5 billion in January 2024. LINK
14,000 (15.9%) homes bought about three years ago were sold in the December quarter, with 6.5% of these sales incurring losses on average of $30,000. LINK
National home prices reach a new record, driven by population growth, a tight rental market, and low construction rates. LINK
AI technology filters out women with career breaks, risking a wider gender pay gap, according to Nuix's CTO. LINK
A study links long-term use of certain contraceptive hormones to an increased risk of brain tumours, urging caution over their prolonged usage. LINK
Chocolate prices continue their rise due to increased cocoa and transport costs, with sustainability issues in Africa exacerbating the situation. LINK