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Lobsters, Centrelink and Musk's Grok-1.5 AI
Microsoft-OpenAI's Stargate, PwC AU fined US$600K, and AI filters out women with career breaks.
Pick & Scroll News
April 02, 2024
One Read, All Perspectives
Australian News
14,000 (15.9%) homes bought about three years ago were sold in the December quarter, with 6.5% of these sales incurring losses on average of $30,000. LINK
China to lift longstanding tariffs on Australian wine, potentially revitalising a $1.2 billion export market and easing trade tensions. LINK
New NDIS plan administration rules aim to control the scheme's cost growth by preventing wasteful spending. LINK
Australians face challenges with Centrelink and Medicare, with long wait times and difficulty getting through to operators highlighted as major issues. LINK
Australian insolvencies hit a near-decade high, reflecting a "perfect storm" of economic pressures on businesses. LINK
National home prices reach a new record, driven by population growth, a tight rental market, and low construction rates. LINK
AI technology filters out women with career breaks, risking a wider gender pay gap, according to Nuix's CTO. LINK
Retailers brace for tough times ahead, seeking federal budget relief amid rising costs and dampened consumer confidence. LINK
New tax rule concerns not-for-profit organisations, potentially impacting their tax-exempt status and future operations. LINK
Australian coffee prices may need to rise to align with international standards and reflect the actual cost of production. LINK
Australia aims to boost exports to China, targeting the lifting of restrictions on live lobsters and beef amid improving bilateral ties. LINK
Global News
The World Bank forecasts a slowdown in East Asia and Pacific economies, with a growth dip influenced by China's expected slowdown to 4.5% this year. LINK
A study links long-term use of certain contraceptive hormones to an increased risk of brain tumours, urging caution over their prolonged usage. LINK
The US and UK probe over $20 billion in crypto transactions linked to a Russian exchange, signalling increased scrutiny in cryptocurrency movements. LINK
Chocolate prices continue their rise due to increased cocoa and transport costs, with sustainability issues in Africa exacerbating the situation. LINK
Company News
Adobe introduces AI-powered advertising technology for Australian banks, supermarkets and the government, promising personalised marketing campaigns. LINK
Armaguard declines a $26 million emergency funding deal that could prevent its insolvency, choosing to seek financing from its parent company, Linfox, instead. LINK
Vanguard faces potential millions in damages for misleading investors about its ethical bond fund, marking ASIC’s first greenwashing court victory. LINK
Morgan Stanley’s Australian profit dips, with a decrease in investment banking fees due to a slow year for mergers and acquisitions. LINK
Treasury Wines to raise Penfolds prices as China eases tariffs, forecasting increased demand and exports to the country. LINK
PwC Australia fined US$600,000 by the US audit watchdog for delayed reporting of an investigation into the firm’s Aussie tax practices. LINK
McKinsey & Co pressures US consultants with reminders of promotion deadlines amid industry-wide staffing reassessments. LINK
Amazon may not offer cash raises to senior employees this year, instead prioritising base pay increases for those with less stock-heavy compensation. LINK
Microsoft and OpenAI plan a $100 billion AI data center project, dubbed "Stargate", aiming for a 2028 launch to meet rising demand for AI capabilities. LINK
Elon Musk’s Grok-1.5 AI chatbot will be available on the X platform next week, with Grok 2 in development to surpass current AI standards. LINK