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JB Hi-Fi, Taylor Swift and Bitcoin
Insurers to change flood cover, Hong Kong's lowest election participation, and Facebook to upgrade its apps.
Pick & Scroll News
December 12, 2023
One Read, All Perspectives
Australian News
Labor’s new school funding agreement proposes targets focusing on improving literacy, numeracy and mental health for all children annually, to be negotiated with state and territory education ministers. LINK
Insurers warn of potential changes to flood cover options or even dropping customers following last year's devastating floods in Australia. LINK
House price growth in Sydney and Melbourne are expected to soften as listings rise faster than demand. LINK
Australian CFOs are increasingly concerned about rising costs and higher interest rates, leading to a pessimistic outlook with potential investment cuts and layoffs. LINK
Australia's major banks have improved their support for customers in financial hardship - Bankwest and Bendigo and Adelaide Bank are ranked among the lowest in Financial Counselling Australia’s lender rankings. LINK
Infrastructure Australia warns of a critical workforce shortage, with only 177,000 workers available against a demand for 405,000, potentially impacting infrastructure, housing, and energy projects. LINK
Global News
Hong Kong’s local council elections saw a record low voter turnout of 27.5%, the lowest since 1994 following Beijing's control revamp. LINK
Bitcoin experienced a sharp drop towards US$40,000 amid a broader crypto sell-off. LINK
Ethiopia is about to become Africa’s next debt defaulter. LINK
Global trade is projected to contract by 5% in 2023 compared to last year, with a pessimistic outlook for 2024. LINK
Company News
JB Hi-Fi faces a class action for allegedly selling worthless extended warranties for over a decade. LINK
Sigma Healthcare and Chemist Warehouse have agreed to a merger pending ACCC approval. LINK
Major Australian retailers like Coles, Woolworths and Amazon are threatening to divert $1.1B in advertising spend from media groups by 2027. LINK
Facebook announced upgrades to its messaging apps, potentially reducing the need for content moderation and addressing some negative impacts of social media. LINK
Woodside and Santos Ltd are in preliminary talks for a merger, potentially forming a US$52 billion entity amid challenges from Indigenous groups and decarbonisation pressures in the oil and gas sector. LINK
Other News
Taylor Swift's Eras Tour has become the first tour to surpass the billion-dollar mark in gross earnings, setting a new record in the music industry, as reported by Pollstar's 2023 year-end charts. LINK
This Week’s Top Picks
Adidas shifts its focus to emerging sports like breakdancing, climbing, skateboarding and BMX for next year's Paris Olympics. LINK
60% of employees hide who they are at work, downplaying aspects of themselves to conform to norms. LINK
Australia will triple fees on foreign purchases of existing homes. LINK
Zoom meetings are considered ineffective for meaningful staff interactions, with employees increasingly opting for silence in meetings due to various factors. LINK