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IKEA, Porsche and Fred Again
Nvidia on the verge of surpassing Apple, Canva and Reddit IPOs, and Aussie family farms at risk of vanishing in the next 10 years.
Pick & Scroll News
March 13, 2024
One Read, All Perspectives
Australian News
Family farms in Australia are at risk of disappearing within a decade, with aggressive supermarket pricing threatening food security. LINK
NSW criticises the GST distribution system after Western Australia and Victoria receive the most from the GST pool, with WA gaining an extra $6.2 billion. LINK
Employers advocate for modernised work rules to accommodate remote working, challenging outdated penalty rates and work conditions. LINK
Buy now, pay later services in Australia will now require a credit licence and perform responsible lending checks under new Treasury draft reforms. LINK
Accessing super for first home purchases could inflate house prices unless it's paired with measures to increase housing supply, experts warn. LINK
Company News
Coles CEO Leah Weckert emphasises that suppliers must share the burden of lowering consumer prices amid a competitive Australian market. LINK
Canva is nearing an investment round to sell shares worth $3.6 billion, with plans for a US IPO. LINK
Commonwealth Bank introduces new "green" term loans for medium-sized businesses to encourage sustainable capital expenditures. LINK
IKEA plans to extend price cuts into 2024 globally after successfully attracting more customers with price reductions initiated in 2022. LINK
Nvidia is on the verge of surpassing Apple as the second-most valuable company. LINK
Reddit targets a valuation of up to $6.4 billion for its IPO, planning to raise up to $748 million. LINK
Porsche expects a decrease in profitability in 2024 as it prepares to launch four new models. LINK
OpenAI refutes Elon Musk's lawsuit claim about a "founding agreement," emphasising the company's for-profit structure. LINK
Foodbank's new regional Victorian distribution center is set to trial a program for students facing food insecurity amid delays in the establishment of a second hub. LINK
Commonwealth Bank enhances its collaboration with Microsoft, focusing on generative AI and cybersecurity to expedite customer service responses.. LINK
Other News
Bots buy up tickets for Fred Again's Australian shows, planning to resell them at inflated prices. LINK
This Week’s Top Picks
Investors in unlisted property funds are experiencing losses, particularly from the downturn in the office market, with total returns dropping to a 12.7% loss last year. LINK
Toll-road reform in NSW is under consideration to improve the efficiency of Sydney’s toll road network and move away from coins. LINK
Australian cereals have decreased in size but increased in cost, a phenomenon known as shrinkflation. LINK
ANZ Private aims to capture a share of Australia's wealthiest families, competing with global banks by offering tailored bond portfolios and new products. LINK
Tutoring companies are benefitting from the failures in the school system, with homeschooling numbers doubling since the pandemic as parents seek alternative education options for their children. LINK
Brisbane's business, sports, and civic leaders advocate for a reevaluation of the 2032 Olympics spending, emphasising the importance of avoiding "white elephant" stadiums and ensuring value for money. LINK
International students have significantly contributed to Australia's GDP growth in 2023, with their spending making up more than half of the country's economic growth. LINK
Gen Z women are lagging in homeownership compared to their male counterparts. LINK
Australian vineyards are now destroying millions of vines and impacting the market for cheaper reds. LINK
A former EY partner loses appeal to keep his identity secret after being accused of creating a $700,000 tax exploitation scheme. LINK