🗞️ Hands tied

Good morning. Amazon AWS CEO has told people to quit if they don't want to work 5 days a week in the office.

Given some people no longer want to work 5 days anymore, he may have some resignations coming, although he did state, "9 out of 10 workers he has spoken with support the new policy". We suspect 9 of those people were his senior peers.

Our friends at The Aussie Corporate are doing their annual WFH survey. We will publish the results when they become available but if you want to take part you can access the survey here.

All the headlines and more below...

AUSTRALIAN NEWS

Royal tour revives Australian ties for King Charles

• King Charles and Queen Camilla are set to embark on a 5-day tour of Australia, marking the King's first official visit as head of state. LINK

• A parliamentary report criticises insurers for their mishandling of over 300,000 flood-related claims in 2022, leading to $7.7B in losses. LINK

• Having numerous browser tabs open may indicate a multifaceted intellect, as research suggests that such individuals are perceived as more attractive and likelier to achieve notable accolades. LINK

• John McGrath's 2025 report highlights a 6-7% price drop in Sydney's lower-end housing market due to affordability issues and reduced buyer activity, while the high-end remains robust with cash purchases. LINK

• Wholesale electricity prices surged in winter, with year-on-year increases of 290% in Tasmania, 114% in Victoria and 76% in South Australia. LINK

• Australian ETF market growth surged by 48.6% over the past year, driven by $26B in net inflows. LINK

• The electric vehicle market is at risk of stagnation for the first time since 2016, due to reduced state incentives and rising energy costs, despite the improved affordability and attractiveness of EVs. LINK

• Despite the successes of e-bike subsidy programs in other regions, the WA government currently has no plans to implement similar initiatives. LINK

• Amid a 215% rise in data breaches, the small business lobby is advocating for a higher threshold of $10M in annual turnover for privacy law compliance, potentially exempting about 98% of businesses from new regulations. LINK

• Sydney is projected to experience its worst weekly auction results since 2022, with clearance rates estimated at only 40%. LINK

GLOBAL NEWS

New Zealand’s Queenstown a holiday heaven for Australian investors looking for luxury

• Queenstown, New Zealand, is becoming increasingly appealing to Australian investors, particularly for luxury holiday homes that often come fully furnished. LINK

• As fears of violence and increased intimidation of election officials persist, US polling places in key states are struggling to find workers just weeks ahead of the November presidential election. LINK

• As winter approaches, Ukraine's survival in the ongoing conflict hinges on receiving increased Western military support and the green light to respond to Russian aggression. LINK

• Australia's offshore processing model for illegal migrants, commonly known as the "Nauru solution," is being considered by European Union leaders to address the rise of populist parties and the challenges of managing migration. LINK

• China's GDP growth slowed to 4.6% in Q3, marking its lowest increase in 18 months. LINK

COMPANY NEWS

Amazon AWS CEO: Quit if you don't want to return to office

• Amazon AWS CEO stated that employees who oppose the new 5-day-per-week in-office policy, which is supported by 90% of those he has spoken with, are welcome to leave the company. LINK

• Netflix added 5.1 million new subscribers in Q3, surpassing estimates by 1 million, with expectations for continued growth during the holiday season. LINK

• A court ruling found that Harvey Norman misled customers about its 'interest-free' promotions by failing to disclose that only Latitude GO Mastercard holders could access these payment methods. LINK

• Flight Centre shares plummeted nearly 20% amid a decline in post-pandemic travel demand and negative forecasts. LINK

• Tensions are rising between Microsoft and OpenAI as financial pressures and leadership changes strain their 5-year partnership, despite Microsoft's previous investment of $19B in the AI startup. LINK

• CBA is urgently working to reinstate customer funds after a system glitch caused multiple billing for transactions, leading to significant account losses for some customers and disruptions to the bank's online and phone services. LINK

• Blackstone reported a record US$1.1T in assets under management and US$41B in inflows during the third quarter, surpassing profit expectations as dealmaking activity increased amid a favourable economic outlook. LINK

• Regal Funds Management and a former employee have been indicted by South Korean authorities for allegedly breaching short-selling laws. LINK

• Ampol is expanding its EV charging infrastructure cautiously, while also launching a home charging offering to meet the growing demand for EVs. LINK

• BHP's Olympic Dam copper mine is temporarily shut down due to storm damage to transmission lines in northern South Australia. LINK

• Telix Pharmaceuticals plans to revive its US listing and anticipates doubling sales within 4 years as it launches 3 new cancer treatment products and capitalises on advancements in nuclear medicine. LINK

• Nvidia shares soared to a record high following a rally in US chip stocks. LINK

• Foot Locker has opened a new mega-store in Melbourne's CBD, focusing on basketball to attract younger shoppers amidst increasing competition from online influencers. LINK

CHART OF THE DAY

The share of people thinking it is the right time to buy a house remains near a record low

ONE MORE SCROLL

Editor’s Pick: Former sexiest man alive Chris Hemsworth reveals his choice for this year.

Draft Pick: New Zealand makes history with successful Cup defence of the America's Cup.

Odd Pick: Sinaloa Cartel member sues Diddy over alleged damages to drug business.

BRAINTEASER

HSC Exam Period

It's the second week of HSC exams so this week we will be taking some questions from the subjects people will be taking on the day. Today is everyone's favourite school subject, Mathematics. See if you can get 3 from 3 to justify that ATAR score no one cares about anymore.

1. Simplify 5x + 3x

2. Expand (x+2)(x+3)

3. Find the volume of a cylinder with a radius of 5 cm and a height of 10 cm.

Answers below

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ANSWERS

1. 8×
2. x² + 5x + 6
3. π × 5² × 10 = 250π cm³

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