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- Hermès Lawsuit, Pepsi vs Coca-Cola, and Bentley
Hermès Lawsuit, Pepsi vs Coca-Cola, and Bentley
Shein to offer supply chain services, New QR code passport-free travel, and AU's ban on engineered stone.
Pick & Scroll News
March 22, 2024
One Read, All Perspectives
Australian News
Australian dollar and bond yields rise as unexpected jobs data suggests a tighter labour market, complicating the Reserve Bank's inflation strategy. LINK
Unemployment rate drops to 3.7% in February, with employment surging by 116,500, indicating resilience in the jobs market amid higher interest rates. LINK
Record migration levels in Australia, driven by a large intake of international students and temporary workers, push annual population growth to the highest rate since 1952. LINK
Builders and suppliers express confusion over the impending ban on engineered stone, citing a lack of detail and clarity from the government. LINK
Australia and the UK sign a new defence and security cooperation agreement, enhancing the ability for defence forces to operate in each other’s countries and consult on sovereignty and regional security issues. LINK
Global News
European consumer stocks gain investor interest as economic confidence grows, driven by bets on sectors like travel, retail and luxury goods amid a brighter economic outlook. LINK
New Zealand's economy enters a recession unexpectedly in Q4, challenging the Reserve Bank's efforts to control inflation through aggressive monetary tightening. LINK
Biden administration eases vehicle emissions standards, granting US automakers more time to comply, potentially influencing similar adjustments in Australia. LINK
Singapore and Malaysia introduce QR code-based passport-free travel at land checkpoints to streamline border crossings and reduce processing times. LINK
Company News
Hermès faces lawsuit over Birkin bags' exclusivity, accused of violating US antitrust law by making the bags too hard to purchase. LINK
Reddit IPO prices at top of range, raising $1.1 billion and testing the US market's appetite for new listings. LINK
University professor claims ageism in dismissal over alleged student misconduct, suing the University of Melbourne for damages. LINK
PwC global chairman rejects Senate request for a report on tax leaks scandal, citing confidentiality and privilege. LINK
Strata management firm Netstrata scrutinised for excessive fees and kickbacks in NSW, raising legal and ethical concerns. LINK
Shein to offer supply chain services to global brands, expanding beyond fast-fashion retailing. LINK
Tencent Holdings posts disappointing revenue growth, as gaming revenue shrinks and the company plans to increase share buybacks. LINK
Bentley Motors delays all-electric vehicle transition, adapting to market conditions and extending plug-in hybrid offerings. LINK
Subway switches to Pepsi products after a 15-year partnership with Coca-Cola. LINK
This Week’s Top News
Corporate insolvencies hit a decade high, affecting construction, hospitality and retail sectors due to financial pressures. LINK
Australians lost $2.2 billion to card fraud last year, with an increase in the number of people affected. LINK
Public transport accessibility standards have been updated for the first time in 20 years to improve disability access. LINK
AI washing emerges as firms exaggerate AI capabilities, attracting regulatory attention. LINK
Electricity bills to decrease for most Australian households from July 1, providing some relief in the cost-of-living crisis. LINK
3G mobile network shutdown raises concerns for rural and remote Aussies losing key phone services. LINK
Elon Musk defends his ketamine prescription as beneficial for investors, stating it improves his mood and execution capabilities. LINK
Workplace drug use is criticised as workaholism, not biohacking, with increasing reports of executives and high-pressure professionals using substances to boost performance or creativity, posing risks of addiction and health issues. LINK
Amazon benefits from 'loopholes' in Australian Labor law changes, potentially enhancing its delivery efficiency. LINK
Farmers hold $6 billion in tax haven accounts despite a smaller grain harvest and fluctuating cattle prices. LINK
Unions target small businesses through women, posing a risk to flexible work arrangements. LINK
Smart home device sales rise despite privacy and cost concerns, items vary from internet-connected fridges and washing machines, to smart speakers. LINK
Retrenchments are expected to rise among middle managers due to spiralling operating costs. LINK
ATO pursues $34 billion in small business debts post-COVID, raising insolvency concerns. LINK
MYOB predicts insolvency risk for over 20% of SMEs due to new payday super laws, highlighting challenges of simultaneous superannuation and wage payments. LINK
Shortfall in student accommodation as international student numbers rise, with an expected annual gap of 7,000 beds. LINK
PwC seeks buyers for its Indigenous Consultancy amidst firm-wide restructuring and scrutiny. LINK
Australian Grand Prix to surpass $100 million in revenue, with tickets sold out, partially driven by Netflix's series 'Drive to Survive'. LINK
"Oppenheimer" achieves success at the Oscars and box office, but its release in Japan brings controversy over the portrayal of J. Robert Oppenheimer. LINK