🗞️ Inflation UP but DOWN

Good morning. Kamala Harris’ recent achievements:

• Raised $200 million in her first week

• Bought swing state polls much closer together

• Has not called anyone Vladimir Putin

One of her more unconventional fundraising methods has been Zoom rallies. It began with 44,000 women raising $1.6 million in an event hosted by the organisation, Win With Black Women.

On Sunday night, Zoom saw its largest call ever, with 200,000 people joining a call titled, "White Women: Answer the Call."

Could there be an Australian Zoom rally? "White Men for Albo" seems less likely to gain traction.

All the headlines and more below...

PARIS OLYMPICS 2024

• Jess Fox won her second gold of the campaign in the Canoe Slalom
  Zac Subblety-Cook and Kyle Chalmers both claimed Silver for Australia in the pool.

• Natalya Diehm wins first women’s Olympic BMX medal for Australia, winning Bronze.

• Australian shooter Penny Smith holds steady to win Olympic trap bronze.

• Katie Ledecky of the USA won her 8th gold medal (ever) in the 1,500 metres freestyle.

• The Matildas were knocked out of pool play after losing to USA 2-1.

AUSTRALIAN NEWS

Annual food inflation

• Headline inflation increased by 1% in the June quarter, taking the annual rate of inflation to 3.8% from 3.6% in the March quarter. LINK

• The City of Sydney has committed funding to revitalise Chinatown with a “chef’s gallery” concept, offering matched funding for renovations. LINK

GLOBAL NEWS

Olympic triathletes swim in Seine River after days of concerns about water quality

• Olympics officials have confirmed the River Seine is safe for triathlon events despite earlier pollution concerns. LINK

• Hamas's political leader, was killed in Tehran by Israel. LINK

• China’s factory activity contracted for the 3rd consecutive month in July. LINK

• US national debt topped $35T for the first time ever. LINK

• Donald Trump and Kamala Harris have launched multimillion-dollar attack ads in key swing states. LINK

• More than $145B of US commercial real estate is currently classified as distressed, with a further $418B at risk. LINK

COMPANY NEWS

Aussie tech company connects Apple’s Vision Pro to people’s brains to help overcome paralysis

• Synchron, an Australian tech company, has connected Apple's Vision Pro to human brains to help people with paralysis. LINK

• Country Road Group reported a 13% decline in full-year same store sales amid a sexual harassment scandal and worsening trading conditions due to a weaker Australian dollar. LINK

• Tinder parent Match Group to lay off 6% of its staff and discontinue live-streaming services on its dating apps. LINK

• OpenAI rolled out an advanced voice mode to a small group of ChatGPT Plus users, allowing real-time voice interactions and interruptions for more realistic conversations. LINK

• Nvidia is down 25% from its peak. LINK

• Intel to cut thousands of jobs amid a global PC slump. LINK

• Super Retail Group appeared in Federal Court to suppress documents in a lawsuit by its ex chief legal officer. LINK

• Microsoft reported disappointing quarterly results, causing a $340B drop in market value for it and AI rivals. LINK

• Microsoft plans to spend more on AI infrastructure in FY25 despite slower growth in its Azure business. LINK

• PayPal raised its full-year profit forecast for the second time, driven by its branded checkout business. LINK

• ANZ completed its $4.9B acquisition of Suncorp Bank, focusing on restoring mortgage growth and integrating Suncorp’s customers into ANZ Plus. LINK

• HSBC announced a $3B buyback and upgraded its income outlook amid gains in wealth management revenue. LINK

CHART OF THE DAY

Global Shortage of Skilled Labour

Many countries are reforming their visa regimes to attract skilled workers and counter demographic challenges.

• South Africa is reforming visa rules to address a 33% unemployment rate and attract skilled workers.

• India is fast-tracking visas for Chinese engineers to support domestic industry needs.

• Thailand is granting visa-free entry to citizens from 93 countries, with special provisions for digital nomads.

BRAINTEASER

It’s Game Time

Here's a Thursday brainteaser to kick-start your morning:

Seven friends are lined up in a queue.

• David is standing two places ahead of Emma.

• Sophie is not standing immediately behind Emma but is directly in front of Ben.

• Tom is standing at the very end of the line.

• Rachel is somewhere between David and Sophie.

• Hannah is standing at the very front.

• Jack is standing two places behind Rachel.

Who is standing fourth in the queue?

A) Emma

B) Sophie

C) Ben

D) David

Answer below

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ANSWERS

A) Emma
Front to back: Hannah, David, Rachel, Emma, Jack, Sophie, Ben, Tom