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H&M, Fortnite and the International Baccalaureate
Japanese yen drops to lowest level since 1990, NDIS revamped scheme, and 'Creepy' social media ads.
Pick & Scroll News
March 28, 2024
One Read, All Perspectives
Australian News
Interest rate concerns are causing Australian home buyers to delay their purchasing plans, though most aim to buy within a year when conditions improve. LINK
The Northern Territory government has implemented a two-week youth curfew in Alice Springs to address chaos and violence, with additional police deployed. LINK
Non-bank lenders raised $15 billion for mortgages that major banks could not write due to stringent serviceability standards. LINK
A parliamentary committee suggested the government work with banks to trial RBA 'rate tracker' home loans. LINK
Headline inflation remained steady at 3.4% in February. LINK
All NDIS participants will transition to a revamped scheme within five years to control costs and target fraud. LINK
Students who undertake the International Baccalaureate (IB) program are more likely to achieve guaranteed university placement and achieve higher marks than those who do not. LINK
South-east Queensland's dams are at their fullest in a year, providing some relief amid recent wet weather. LINK
Australian companies lag behind their Asia-Pacific counterparts in committing to emission reduction targets, with only 20% aligning with the Paris Agreement's net zero goals. LINK
Australians find social media ads 'creepy' and distrust brands advertising on platforms like Facebook and Instagram. LINK
Direct flights between Sydney and the Busselton-Margaret River region have commenced, opening up new tourism. LINK
Global News
China initiates WTO dispute against the United States over electric vehicle subsidies, challenging discriminatory practices. LINK
The collapse of Baltimore’s Francis Scott Key Bridge, following a collision with a cargo ship is causing delays and raising costs in global supply chains. LINK
The Japanese yen weakens to its lowest level since 1990. LINK
Investors are redirecting funds from China to other Asia Pacific markets such as South Korea, India and Australia due to a weaker outlook for China's economy and governance concerns. LINK
Cocoa prices break records, exceeding US$10,000 a tonne, with more expensive chocolate set to hit the market. LINK
Indonesia suspends an Australian cattle supplier after more than 100 deaths on a live export ship. LINK
South Korea announces financial support for small businesses and construction firms affected by high interest rates. LINK
Company News
Visa and Mastercard reach a $30 billion settlement to limit card fees for merchants, a move that may lead to consumer benefits through lower prices. LINK
Qantas, Jetstar and Virgin Australia prepare for bumper Easter crowds by putting additional aircraft on standby and deploying corporate staff to assist at airports. LINK
Telstra investigates triple-0 outage, attributing the disruption to multiple technical issues. LINK
H&M's first-quarter operating profit surges, beating expectations as its new spring collections drive a sales recovery. LINK
Coles prepares for higher Easter cash demands amid concerns over Armaguard's potential collapse. LINK
Senate criticises PwC Australia for lack of transparency in handling the tax information scandal. LINK
Google defends its market competition in the Federal Court against Epic's claims, arguing Fortnite players predominantly spend outside Android devices. LINK
Westpac announces a $3.5B dollar tech overhaul, dubbed Unite, aiming to consolidate over a hundred systems to resolve inefficiencies and high costs accumulated since acquiring St George. LINK
David Jones partners with Criteo in a new tech deal, launching a retail media business expected to generate an additional $35 million in annual revenue by targeting ads to its affluent customer base. LINK
This Week’s Top Picks
Major firms like BAE Systems, Microsoft and SAP could lose government contracts unless they meet new gender equality targets legislated by Labor, requiring companies with over 500 employees to demonstrate progress. LINK
A crackdown on early university offers is set to prohibit offers to Year 12 students before September. LINK
Western Sydney's economy thrives as consumers prefer spending close to home, outperforming other Sydney areas. LINK
The Albanese government fast-tracks laws to deport uncooperative asylum seekers, facing political controversy over immigration management. LINK
New legislation to adopt a digital ID system aims to simplify loan applications, moving away from physical document verification towards online identity checks. LINK
New system to track labour hire in government introduces the Contractor Reporting, Integrity Information Solution system for a comprehensive overview of labour hire usage. LINK
NSW to revitalise TAFEs as central community hubs after a review highlights years of mismanagement and declining public and industry confidence. LINK
Tax cuts fail to offset inflation for high earners, with those earning over $224,000 a year not compensated for tax bracket creep. LINK
Blackbird slashes valuations of top Aussie start-ups such as Culture Amp, Eucalyptus and Hivery. LINK
Cancellation fees rise at restaurants to counter last-minute no-shows, impacting venues' revenues significantly. LINK
71% of Australians have concerns over a cashless society, especially the elderly who rely on cash transactions. LINK
Mortgage delinquencies hit a post-pandemic high, with more Australians struggling under the current high-interest rates. LINK
Truck sales soar amidst economic challenges, reflecting a demand surge in logistics and delivery services. LINK
Australian music sales hit a record $676 million in 2023, with streaming accounting for 69% of revenue and vinyl records growing 14% to $42 million. LINK
About 5% of mortgage borrowers spend more than their income on essentials and their mortgage. LINK
PwC's role in Evergrande's accounting is being scrutinised by Chinese authorities following accusations of a $78 billion fraud. LINK
Australia ranks as the 10th happiest country in the world, moving up two spots and surpassing New Zealand according to the latest World Happiness Report. Finland remains number one for the seventh consecutive year. LINK