- Pick & Scroll News
- Posts
- HECS Increase, Binance and Spotify
HECS Increase, Binance and Spotify
Microsoft secures a $1.1 billion deal with Coca-Cola.
Pick & Scroll News
April 25, 2024
One Read, All Perspectives
Australian News
Trimmed mean inflation in Australia rose unexpectedly to 1% for the March quarter, pressuring the Reserve Bank to keep interest rates high despite prior expectations of a cut. LINK
Australian university graduates will see a 4.7% indexation increase on HECS debts from June 1 due to rising inflation, adding $2,350 to the average student loan. LINK
Cost of living escalates as prices for movies, haircuts and dental checkups soar, with insurance premiums reaching a 23-year high of 16.4%. LINK
Jobseekers are increasingly demanding virtual interviews, challenging recruiters' ability to assess skills and diminishing candidates' interpersonal abilities. LINK
Brisbane and Adelaide's median house prices are projected to reach $1 million by year-end, driven by a continuous supply shortage despite slowing quarterly growth. LINK
Households might not see mortgage relief until next year as economists predict prolonged high interest rates following the unexpected rise in March quarter inflation to 3.6%. LINK
Despite falling wholesale electricity prices, Australian power bills continue to rise due to network costs and coal plant unreliability, prompting calls for increased solar investment. LINK
Global News
Global egg prices are surging due to a resurgence of avian influenza, along with factors like hot weather and high meat prices, leading to increased demand for alternative proteins. LINK
Artificial intelligence data centres’ growing power usage could significantly raise natural gas demand in the latter half of the decade, potentially needing an extra 8.5 billion cubic feet per day. LINK
Company News
Saputo Dairy Australia workers strike over a pay disparity with mainland employees, with Tasmanian workers earning up to 21% less. LINK
Meta's AI tool launch causes user confusion, with incidents of chatbots mimicking real-life scenarios like joining parent groups on Facebook. LINK
TikTok's Australian manager defends the app against ban calls, emphasising its local economic contributions, following US legislative action to force its sale or exit in the next year. LINK
Tesla hastens the development of more affordable models to boost sagging profit margins and counter declining sales, planning to start production earlier than previously announced. LINK
The success of the Barbie movie prompts Mattel to expand warehousing in Australia, as merchandise sales soar following the film's global box office success. LINK
Visa's second-quarter earnings surpassed expectations as robust US consumer spending on travel and dining out defied economic slowdown concerns, driving its shares up by 2.7%. LINK
Daihatsu, a subsidiary of Toyota Motor, plans to resume vehicle development by year-end, after a scandal involving rigged safety tests affected 88,000 vehicles, mostly sold under Toyota. LINK
Microsoft secured a $1.1 billion deal with Coca-Cola for 5 years to provide cloud computing and AI services, exploring joint projects on Azure OpenAI. LINK
TikTok and ByteDance have spent over $7 million on lobbying in the US this year to counter proposed legislation that could ban the social media platform. LINK
Pfizer and BioNTech are challenging Moderna's COVID-19 vaccine patents in a London court. LINK
Spotify's gross profit exceeded 1 billion euros for the first time, despite falling short of user growth expectations due to reduced marketing expenditures. LINK
Founder of Binance faces a proposed 36-month prison sentence for violating anti-money laundering laws, as US prosecutors submit their recommendation ahead of his sentencing in Seattle on April 30. LINK
Perpetual experienced net outflows of $5.2 billion in Q1, largely due to a $2.2 billion withdrawal from its UK Dynamic strategy following a key portfolio manager's departure. LINK
Nick Scali expands into the UK market, acquiring Anglia Home Furnishings for rebranding after a $60 million capital raising. LINK
Kogan shares plummeted nearly 30% due to disappointing Q3 sales and pre-tax earnings, despite positive updates on its loyalty program and new travel services. LINK
Amazon to open cloud regions in Southeast Asia, responding to customer demands for local data residency. LINK
PepsiCo surpasses Q1 expectations with strong international sales of its beverages and snacks, contrasting with a slowdown in the US market. LINK
This Week’s Top Picks
Grindr faces a UK lawsuit over allegations that it shared users' sensitive information, including HIV status, without consent. LINK
Global food prices are predicted to decline this year, offering financial relief for consumers, according to a forecast by Oxford Economics. LINK
Flight punctuality in Australia has improved, with over 77% of domestic flights arriving on time last month, marking a significant recovery from pandemic-induced delays. LINK
Generation Z is rapidly ascending to leadership, making up 25% of the workforce next year, with a significant 42% increase in Gen Z company directors. LINK
Home ownership affordability declines as CoreLogic data reveals a significant drop in suburbs where buying is cheaper than renting; only 2.5% of suburbs for houses and 10.8% for units are now more affordable to buy. LINK
Sydney Airport's domestic flights lag behind pre-pandemic levels, with CEO Scott Charlton citing high airfares and reduced business class travel as key factors. LINK
Macquarie exits car lending, shifting focus to mortgages and deposits, leading to approximately 100 job losses. LINK
Betashares introduces geared ETFs aimed at retail investors. LINK
Qantas to offer free Wi-Fi on international flights, expanding its existing domestic service to global routes starting late 2024, with full implementation expected by mid-2026. LINK
Woolworths New Zealand introduces body cameras across all stores to enhance safety, following a 75% rise in physical assaults on staff. LINK
Australian energy market faces unprecedented demand due to AI-driven growth in data centres, with power requests potentially tripling the current load in Sydney's western suburbs. LINK
Free-to-air TV viewership plummets among youth, dropping by 83% among teenagers since 2011. LINK