🗞️ Last man standing

If you're not across Backyard Ultras, it's a running event where you run 6.7km on the hour, every hour.

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Good morning. If you're not across Backyard Ultras, it's a running event where you run 6.7km on the hour, every hour.


You cannot start the lap early, so however long it takes you to run 6.7km, you have the remainder of the hour to eat, sleep and rest. You keep going until you can't complete any more laps with the last man and woman standing, being the winners.


An Australian, Phil Gore, has just set the world record for the most laps with 119 laps completed. That's 797km across 5 days. Ridiculous!


One lap of The Tan or Centennial Park is also a great accomplishment this weekend.


All the headlines and more below...

AUSTRALIAN NEWS

Australians return home after flights cancelled, delayed amid Israel-Iran war

  • Australian travellers face significant delays as Qatari airspace closes amid Middle East missile attacks. LINK

  • Australian household wealth has reached $17.3T, driven by property and superannuation gains, as growth slows. LINK

  • Australian job vacancies increased 2.9% in the May quarter, led by the construction and professional sectors. LINK

  • Aerial imaging has exposed 700 illegal dams in SA's Mount Lofty Ranges that violate the 2013 moratorium. LINK

  • The Auditor-General has launched an investigation into the Federal Court of Australia for incorrectly reporting $1M in internal legal expenses. LINK

  • Australian state government debt will reach $900B by FY29, tripling pre-pandemic levels due to infrastructure spending. LINK

GLOBAL NEWS

ChatGPT may be eroding critical thinking skills, according to a new MIT study

  • MIT research reveals a 55% drop in brain connectivity for people relying solely on AI for cognitive tasks. LINK

  • The US dollar fluctuated as President Trump considered naming a new Federal Reserve chair ahead of schedule. LINK

  • The Federal Reserve has proposed reducing capital buffers for major US banks, sparking debate over financial stability. LINK

COMPANY NEWS

Aldi remains the cheapest place to shop for groceries

  • Aldi has emerged as Australia's cheapest supermarket ahead of Woolworths, Coles and IGA in Choice's June FY25 price report amid rising living costs. LINK

  • Nvidia has reached a US$3.76T valuation as the world's most valuable company again amid AI demand. LINK

  • Tesla's first robotaxi test in Austin has revealed driving flaws requiring safety scrutiny. LINK

  • The ACCC accused Australian Gas Networks of misleading millions through false renewable energy claims in a major greenwashing case. LINK

  • Microsoft and OpenAI are negotiating to resolve contract disputes over artificial general intelligence access. LINK

  • A US federal judge ruled for Meta Platforms against authors claiming copyright infringement for AI training, stating the authors hadn't presented enough evidence of market dilution. LINK

  • Reddit is safeguarding user content from AI usage while monetising its conversation database through partnerships with Google and OpenAI. LINK

  • Canva's US IPO restructure has accidentally triggered early share vesting for employees, resulting in tax obligations without realised stock returns. LINK

  • Blackstone is restricting its Australian build-to-rent investments due to high property taxes whilst allocating 25% of global real estate to rentals. LINK

  • H&M forecasts 3% sales growth for June whilst reporting stronger-than-expected Q2 profit. LINK

  • SunRice maintains steady exports for FY25 while Australian consumers switch to cheaper rice alternatives. LINK

  • Pandora has taken control of Australian stores through refused franchise renewals whilst creating tensions with franchisees. LINK

CHART OF THE DAY

Where millionaire populations are growing

ONE MORE SCROLL

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TOGETHER WITH

Take what you’re doing offline and circle back on team wellness because real team bonding happens with puppies, not PowerPoint. Give your team an event they’ll actually look forward to with Puppy Yoga!

We’ve got you covered with Corporate Cuddles and Puppy Yoga 🐶

BRAINTEASER


Adam told me that he placed 20 or fewer balls into a bag. He explained that some of the balls are red, and others are not red. He also mentioned that if 2 balls are drawn at random from the bag, the probability that both are red is exactly 50%.


How many red balls are in the bag?


Answer below

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ANSWER

There are 3 red balls in the bag (out of four total balls).

This means there is a 3/4 chance that the first drawn ball is red. If this scenario occurs, then there is a 2/3 chance that the second drawn ball is also red. (3/4) x (2/3) = 6/12 = 1/2.


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