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Star Entertainment Group is heading towards a potential blow-up with the government warning no more help would be extended.
Pick & Scroll News
January 14, 2025
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Good morning. It turns out the house doesn't always win.
Star Entertainment Group is heading towards a potential blow-up with the government warning no more help would be extended.
The casino has been heavily impacted by the Asian Financial Crisis and loss of Indonesian high rollers. Estimates has the Casino bank balance at just $79 million and some analysts expect that they won't last until the end of February.
They could always double that $79 million by heading across the road to Crown.
All the headlines and more below...
AUSTRALIAN NEWS
‘Outdated’ copper connections set to receive a $3 billion injection
The government has committed $3B to the NBN to extend fibre coverage to the remaining 95% of copper-connection premises by 2030. LINK
VIC’s property market experiences 50% higher investor exits than the national average due to new state taxes. LINK
New research suggests raising Australia's pension age to match life expectancy trends. LINK
Australian investment bankers forecast an 11% fee increase for FY25 as private equity activity drives deal momentum. LINK
Small businesses are struggling with inflation and complex industrial relations reforms that impede growth. LINK
Private credit, rental housing and data centres are predicted to lead commercial property investments in FY25 whilst traditional office sectors face high interest rate challenges. LINK
Australia's commercial property sector is set to recover in FY25 as inflation eases. LINK
Tech giants contest Australian anti-scam laws requiring victim refunds whilst arguing banks hold sole responsibility. LINK
COMPANY NEWS
Amazon dials back DEI programs ahead of Trump inauguration
Amazon is ending several diversity and inclusion programs as detailed in a December employee memo whilst maintaining its commitment to workplace equity. LINK
Qantas cuts business class reward seats from Classic Plus frequent flyers on major routes for FY25. LINK
Myer and Premier Investments reported weak Christmas sales as total revenue fell to $1.59B and $855M-865M respectively, whilst their planned merger awaits a January 23 shareholder vote. LINK
Free TV proposes 800 additional hours of alcohol advertising during prime-time despite industry opposition. LINK
Meta disbands its diversity team whilst maintaining workforce diversity commitments. LINK
ClearVue Technologies has expanded its Alutec partnership to distribute solar glass technology in the UAE. LINK
Telix Pharmaceuticals has acquired US biotech firm ImaginAb for $73M to secure drug candidates, a biologics platform and a California research facility whilst enhancing tumour imaging capabilities. LINK
Viva Energy's Geelong refinery has suspended operations after lightning strikes caused power outages, while full operations may take 2 weeks to resume. LINK
Novonix continues working with the US Department of Energy on its US$1.2B loan agreement despite missing tax credits. LINK
ONE MORE SCROLL
Editor’s Pick: LA wildfires in pictures.
Draft Pick: Nine out of 12 Aussies booked their spots in the second round with Nick Kyrgios being the big upset of the day, losing to Jacob Fernley.
Odd Pick: Physicist claims to have solved the infamous 'grandfather paradox,' making time travel (theoretically) possible.
BRAINTEASER
Can you guess?
Here is a riddle for your Tuesday:
The more you take, the more you leave behind.
Answer below
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