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China is now paying people $500 per child per year until the child turns 3, which should cover.....not a lot of a total child’s cost.
Pick & Scroll News
July 30, 2025
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Good morning. China is now paying people $500 per child per year until the child turns 3, which should cover.....not a lot of the total child’s cost.
China's southwestern Sichuan province has taken it a step further by attempting to create a "fertility-friendly society", by proposing to increase marriage leave from 5 to 25 days. Five weeks off might accelerate some proposals at least.
All the headlines and more below...
AUSTRALIAN NEWS
Banks to refund $60M of 'excessive' fees
ASIC announced banks will refund $60M to 770,000 low-income customers who were charged excessive fees despite being eligible for cheaper accounts. LINK
The ATO has reduced its tax penalty remission rate from 90% to 70% while making late payment interest non-tax-deductible from July 2025. LINK
Australian living costs have pushed 50% of people to live paycheque to paycheque, up from 43% in FY24. LINK
Queensland teachers announced their first strike since 2009 for August 6 as pay negotiations stall. LINK
The Australian Government Consulting service has saved $7M by handling 30 public sector projects internally. LINK AFR
A $9M modular housing project in NSW has delivered 24 homes in 6 months to address the housing crisis. LINK
WA businessman Chris Marco faces trial for allegedly defrauding investors of $250M through an 8-year investment scheme. LINK
GLOBAL NEWS
Multiple killed in Blackstone shooting
A shooter attacked Blackstone at their New York office, causing 4 deaths that included an NYPD officer. LINK
India has overtaken China as the top source of US smartphone imports with 44% market share as Apple shifts iPhone assembly. LINK
The EU is investigating Temu over illegal products on its platform. LINK
US tariffs have reached a post-WWII high of 17.3% amid global trade concerns. LINK
COMPANY NEWS
CommBank replaces call centre jobs with AI bots
CBA has cut 45 customer service roles after implementing an AI chatbot whilst offering redeployment options. LINK
Viva Energy reported a 27% drop in cigarette sales and 10% decline in convenience sales due to the illegal tobacco trade. LINK
Nvidia has ordered 300,000 H20 AI chips from TSMC due to strong Chinese demand after a US export ban reversal. LINK
Samsung Electronics has secured a US$16.5B AI chip supply deal with Tesla. LINK
Harley-Davidson is in talks to sell a stake in its financing arm to KKR and PIMCO for up to US$5B. LINK
Citigroup will provide research coverage on 100 private tech companies without investment ratings whilst following JPMorgan's approach. LINK
Signal warns it may exit Australia if forced to create encrypted message backdoors due to privacy concerns. LINK
HSBC prepares to sell its Australian retail banking unit with Citi leading the process following NAB's $1.2B acquisition. LINK
CHART OF THE DAY
ChatGPT has sparked divergence in sales & support headcount
ONE MORE SCROLL
Editor’s Pick: How to say no at work.
Draft Pick: Australia completes a historic 5-0 T20I sweep of the West Indies in the Caribbean.
Odd Pick: Edinburgh's funniest fringe joke award scrapped for 2025.
TOGETHER WITH
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TRIVIA
On this day in 1930, Uruguay won the first-ever FIFA World Cup by defeating Argentina in Montevideo.
Which 7 other countries have won the football World Cup? Bonus points if you get how many times they've won it.
Answers below
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ANSWERS
1. Brazil (5)
2. Germany (4)
3. Italy (4)
4. Argentina (3)
5. France (2)
6. England (1)
7. Spain (1)
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