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Meta, Qantas, and Facebook Marketplace Scams
There is a carbon dioxide shortage, Australia Post is downsizing, and Facebook Marketplace is fraught with scams.
Pick & Scroll News
March 04, 2024
One Read, All Perspectives
Australian News
Industry super funds have estimated that $38B of early withdrawals during the pandemic will cost super fund members $85B in retirement savings. LINK
Western Australia has become the first state to ban single-use, non-compostable coffee cups to prevent millions from ending up in landfill, with South Australia following suit. LINK
A carbon dioxide shortage is impacting soft drink supplies in supermarkets, with major supplier BOC prioritising medical, safety, and water treatment customers. LINK
Productivity in Australia fell back in 2022-23 after an initial surge during the pandemic, attributed to an increase in hours worked and a tight labour market. LINK
Facebook Marketplace leads in reports of online buying scams, with a 78% increase in scam reports in the last quarter of 2023. LINK
Mortgage stress rates surged at the fastest pace in nearly two years, with non-bank lenders shifting focus to investor loans. LINK
Salaries for diverse roles, including retail buyers and road train drivers, have crossed the $100K mark, driven by record wage growth. LINK
The debate on work-from-home policies intensifies as companies, including ANZ, reconsider office mandates amidst ongoing negotiations on employee performance and workplace satisfaction. LINK
Australians distrust AI, with significant regional disparities in opinions on integrating artificial intelligence in government services. LINK
Despite weak consumer spending, CEOs plan further price hikes for essential services like internet and insurance. LINK
House price growth accelerates in February, fuelled by optimism for potential interest rate cuts and cooling inflation. LINK
Business-related personal insolvencies rise. LINK
Over 75% of Australian fund managers lagged behind the S&P/ASX 200 in 2023. LINK
In response to money laundering scandals, Australian casinos are shifting focus from high-roller gamblers to tourism. LINK
Global News
China's property market continues to falter, with February sales for the top 100 real estate companies plummeting 60% year-on-year. LINK
About 14,000 sheep and 1,000 cattle will be re-exported to the Middle East, avoiding the Red Sea, after security concerns forced their return to Western Australia. LINK
Company News
Australia Post has warned of potential downsizing in its retail network due to continual losses in its letter business even after increasing the prices of its stamps. LINK
Elon Musk is suing OpenAI, accusing it of prioritising profits over its founding humanitarian aims. LINK
Meta announces its decision to cease paying Australian news publishers, igniting a conflict with the Albanese government and potentially affecting up to 9% of annual net profits for major media companies. LINK
CBA plans to eliminate 83 jobs across New South Wales, Victoria, and Western Australia, integrating AI and other technologies to streamline operations. LINK
Qantas targets a 40% female cadet pilot intake by 2028 to address the global aviation industry's gender pay gap and increase diversity in the cockpit. LINK
Chartered Accountants ANZ faces scrutiny for failing to uphold professional standards. LINK
Negotiations between TikTok and Universal Music hit a deadlock over financial terms, copyright issues, and the use of artificial intelligence in music creation. LINK
Ex NAB CEO, Ross McEwan is in the running for BHP’s chairman role. LINK
Life360 announces an advertising strategy, driving its shares up nearly 40%, as it seeks to monetise its substantial user base. LINK