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Lululemon, Meta and PwC
Australia's World Happiness ranking, Restaurant cancellation fees rise, and Zara is facing protests amidst record profits.
Pick & Scroll News
March 25, 2024
One Read, All Perspectives
Australian News
Cancellation fees rise at restaurants to counter last-minute no-shows, impacting venues' revenues significantly. LINK
Borrowers are coping with higher rates, suggests RBA, indicating economic resilience amidst inflation control measures. LINK
71% of Australians have concerns over a cashless society, especially the elderly who rely on cash transactions. LINK
Big Four accounting firms invest heavily in AI to improve efficiency and client service. LINK
Mortgage delinquencies hit a post-pandemic high, with more Australians struggling under the current high-interest rates. LINK
Truck sales soar amidst economic challenges, reflecting a demand surge in logistics and delivery services. LINK
Australia faces a construction worker shortage to meet the government's new home-building targets. LINK
New watchdog taskforce targets NDIS overcharging, addressing concerns about exploitative pricing by providers. LINK
Queensland's real estate lobby criticises renter protection laws, arguing they could deter landlord investment and eliminate rent bidding. LINK
Australian music sales hit a record $676 million in 2023, with streaming accounting for 69% of revenue and vinyl records growing 14% to $42 million - vinyl now represents 70% of music sold in physical format. LINK
About 5% of mortgage borrowers spend more than their income on essentials and their mortgage, with over 2% at risk of depleting their savings by next year. LINK
Weather and climate shocks expected to increase food prices annually by 1.5 to 1.8 percentage points within a decade, with global food prices predicted to rise 2.2 to 4.3 percentage points annually by 2060 due to climate change. LINK
Global News
Australia ranks as the 10th happiest country in the world, moving up two spots and surpassing New Zealand according to the latest World Happiness Report. Finland remains number one for the seventh consecutive year. LINK
The International Maritime Organisation moves closer to adopting the world’s first global emissions levy for the shipping industry, with growing support suggesting its implementation next year. LINK
Lithuania named the happiest country for Gen Z and millennials in the 2024 World Happiness Report, ranking countries based on self-assessed life evaluations and six key variables. LINK
Company News
F1 has a women problem that it's time to address, contrasting its diversity in other aspects with a glaring gender disparity. LINK
Myer's loyalty scheme has become key to the department store's revival and growth strategy. LINK
Greensill Group's insurance dealings come under scrutiny, involving major financial figures and implications. LINK
Workers for Zara’s parent company in Spain protest for better conditions after the company reported record profits. LINK
Nike and Lululemon face sales challenges, highlighting the tough retail environment and shifts in consumer demand. LINK
PwC's role in Evergrande's accounting is being scrutinised by Chinese authorities following accusations of a $78 billion fraud. LINK
Amazon appeals French fine over employee monitoring, contesting a decision regarding its surveillance system. LINK
Meta faces scrutiny from a whistleblower for prioritising profits over public good. LINK
Crown Coaches, a family-owned bus operator, is up for sale. LINK
The US files an antitrust lawsuit against Apple, challenging its alleged smartphone market monopoly and "walled garden" technology practices. LINK