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Grand Theft Auto 6, Private Schools and King Charles III
NSW Gov accidental release of rezoning, Homebuyers falsifying loan applications, and Aussie kids below-average in maths.
Pick & Scroll News
December 06, 2023
One Read, All Perspectives
Australian News
Half of all Australian 15-year-olds fail to meet age-group expectations in maths, but overall academic skills remained stable despite Covid-19 disruptions. LINK
The RBA kept the cash rate steady at 4.35%, leading to a drop in the Australian dollar. LINK
The university sector's underpayment bill has surpassed $159M, with 32 institutions underpaying nearly 100,000 staff and academics since 2009, mostly in the last decade. LINK
Australian tech start-ups are set to raise about $4.2B less from investors this year than last, with a 42% decline in the number of deals. LINK
Retailers are increasing discounting to attract consumers who are cutting back on discretionary spending due to cost-of-living pressures, with overall retail sales volumes down 1.7% in October compared to last year. LINK
Company collapses in Australia rose by 12% in November, with the upcoming Christmas sales period seen as a critical determinant for the business sector's trajectory in early 2024. LINK
The NSW government inadvertently released a list of suburbs targeted for increased housing density, previously kept secret for months. LINK
Prospective homebuyers are increasingly falsifying loan applications, overstating income or understating expenses, in an effort to secure home loans amid rising interest rates and house prices. LINK
Consultants for Victoria’s axed Commonwealth Games did not inspect venues or consult officials due to a three-month time constraint and secrecy. LINK
Global News
China's central bank governor warned bankers in Hong Kong about the country's economy facing a challenging transition away from reliance on property and infrastructure investment. LINK
Bitcoin's value surged above US$42K, marking a significant 55% increase since mid-October and a 152% gain year to date. LINK
Singapore plans to triple its AI talent pool to 15,000 experts, including machine-learning scientists and engineers, as part of its national AI strategy. LINK
Company News
CEO Kelly Bayer Rosmarin has officially left Optus following a transition period after resigning as the company's boss in late November. LINK
Endeavour plans to open four Dan Murphy’s superstores. LINK
Deutsche Bank is capitalising on the current market lull to hire more bankers and rejuvenate its mergers and acquisitions business in Australia. LINK
EY and Deloitte will continue making political donations, while KPMG reviews its stance, contrasting PwC's decision to cease all such contributions following its tax leak scandal. LINK
Westpac resolved an online access issue preventing customers from accessing their bank accounts. LINK
Metcash is now selectively eyeing hardware stores for acquisition, with some speculating a potential purchase of online hardware business HBT to complement its existing brands like Mitre 10 and Total Tools. LINK
Bank of Queensland faced a first strike against its 2023 pay report at its AGM. LINK
Other News
Wealthy private schools in Australia, including Sydney's Shore, Kambala, and SCEGGS Darlinghurst may lose their ability to raise funds through tax-deductible donations due to potential changes in charitable donation rules. LINK
King Charles III is set to make his first visit to Australia as monarch late next year, marking the first trip for him and Queen Camilla to the country in 6 years. LINK
Newington College executives will engage in meetings with 400 parents and benefactors in the final school week to address concerns about the decision to admit girls to the 160-year-old boys' school. LINK
Take-Two Interactive Software released the trailer for Grand Theft Auto VI earlier than planned following a social media leak, with the game set for release in 2025. LINK
This Week’s Top Picks
Guzman y Gomez's major shareholder, TDM Growth Partners, intervenes to manage legal and human resources functions amid an executive exodus at the restaurant chain. LINK
Australian executives express caution in fully entrusting AI with major decisions, preferring AI as a "co-pilot" for smaller productivity gains but wary of its lack of accountability in critical situations. LINK
Amazon Prime Video secures exclusive broadcasting rights in Australia for major cricket tournaments, including World Cups and the Champions Trophy until 2027, and effectively placing these events behind a paywall. LINK
Sydney's housing market to face a double-dip downturn as early as next month, with November seeing a slowdown in price growth. LINK
Australian federal, state and territory treasurers have agreed to collaborate on developing a nationwide electric vehicle tax regime. LINK
The number of young Japanese applying to work and live in Australia has hit a new high this year, driven by low wages, rigid work culture, and a plunging yen in Japan, contributing to Australia’s record migration levels. LINK
Owning a dog can reduce the risk of developing dementia in old age by 40%, based on a four-year study of nearly 12,000 Tokyo residents aged over 65. LINK