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- Generative AI Jobs, The Cheesecake Shop and Afghanistan's Opium Supply
Generative AI Jobs, The Cheesecake Shop and Afghanistan's Opium Supply
Aussie households cut back on subscription services like Netflix, Westpac links executive bonuses to climate targets, and PwC's Scyne Advisory sale gets the green light.
Pick & Scroll News
November 07, 2023
One Read, All Perspectives
Australian News
The Australian Government's move towards greater control over content on new TV sets stirs concerns within the media industry. LINK
As Westpac CEO Peter King signals the bank's borrowers' readiness to withstand further interest rate hikes amidst inflation concerns, the RBA is anticipated to elevate rates for the 13th time in 19 months to 4.35%. LINK
A Deloitte report unveils a shift in Australian households cutting back on subscription services like Netflix and opting for free or cheaper ad-based content. LINK
Jobs pertaining to generative AI see a notable surge in Sydney and Melbourne. LINK
Global News
Indonesia's annual economic growth decelerates more than anticipated to a 2-year low of 4.94% in Q3 due to shrinking exports and subdued household consumption. LINK
President Joe Biden is losing to Donald Trump in key battleground states one year ahead of the 2024 election, according to recent polls. LINK
Afghanistan’s opium poppy supply plummets by 95% after Taliban ban. LINK
Company News
The Cheesecake Shop unveils a multimillion-dollar rejuvenation strategy, encompassing a new logo, TV commercial and store fit-outs, aimed at evolving from a celebratory event shop to a go-to dessert business for various occasions. LINK
Flybuys experiences a surge in point redemptions throughout 2023 as households leverage the scheme amidst rising living costs. LINK
Elon Musk's AI start-up, xAI, debuts its AI model, Grok, aiming to challenge tech giants like OpenAI, Google and Meta with a unique chatbot integrated with X. LINK
OpenAI gears up to unveil product enhancements aimed at rendering its AI models more affordable and functional during its inaugural developer conference. LINK
Airwallex introduces the ‘Yield’ product, enabling businesses to earn interest on US dollar balances without the need for overseas bank accounts. LINK
Amazon and Meta commit to changes in their retail platforms to promote fair competition, as urged by the UK’s Competition and Markets Authority. LINK
G’Day Group, Australia’s largest regional accommodation provider, records a loss due to major weather events and rising costs, but remains optimistic due to a domestic tourism surge. LINK
Magellan Financial Group continues to experience a rapid outflow of funds under management, with its October funds under management dwindling to $34.3B. LINK
Zimperium, the cybersecurity firm safeguarding US troops' smartphones, introduces Australia’s first mobile device defence shield. LINK
Westpac pioneers among big Australian banks by setting a zero-deforestation target for loans to beef, dairy and sheep farmers, and also linking a portion of executive short-term bonuses to climate targets. LINK
Goodman Group deepens its venture into data centres, earmarking a significant portion of its workbook towards this sector as it plans to build more complexes globally to meet rising demand. LINK
Star Entertainment to sell its Gold Coast resort. LINK
Soprano Design makes a takeover bid for Whispir at 48¢ per share after securing a 15% pre-bid stake, aiming to consolidate its position in the communications platform market. LINK
ASIC takes TelstraSuper to court for allegedly failing to address customer complaints promptly, marking the first instance of a retirement fund being sued for such misconduct. LINK
Westpac announces a 26% increase in full-year net profit to $7.2B and a $1.5B on-market share buyback. LINK
PwC Australia’s public consulting arm's sale to Allegro Funds gets the green light from the Foreign Investment Review Board (FIRB), paving the way for Scyne Advisory to commence operations on November 13. LINK
This Week’s Top Picks
October saw a 43% leap in company collapses in Australia, partly due to an aggressive tax office and impending interest rate rises as the holiday slowdown approaches. LINK
Small to medium businesses (SMBs) in Australia face heightened cyber attack risks. LINK
An increasing number of millennials are migrating from cities to regional areas in Australia. LINK
Construction workers are found to be 6 times more likely to die by suicide than from work-related accidents. LINK
According to science, modern NBA players are better than the previous eras, exhibiting enhanced explosiveness in movement despite no significant increase in body size. LINK
Meta CEO Mark Zuckerberg sustains an ACL injury while training for a competitive MMA fight. LINK
Mariah Carey faces a lawsuit from singer-songwriter Andy Stone for alleged copyright infringement over the iconic song "All I Want for Christmas Is You". LINK