Microsoft, Sara Lee and Childcare Fees

Australian News

• SafeWork NSW faces scrutiny for regulatory failures in construction and healthcare, with a report revealing staff fatalities and injuries, soon to be publicly released. LINK

• ACCC report calls for government action to address childcare accessibility challenges, particularly for low-income and diverse households. LINK

• Brisbane is leading Australia's cost-of-living crisis with the highest rent, energy, health and insurance price hikes in the past year. LINK

• Interstate buyers make up one in four Gold Coast property auction sales, significantly higher than the national average. LINK

• The ACCC reports little evidence of price gouging in the childcare sector, despite high fees, with one in four private operators making low returns or losses. LINK

• There is a worsening mental health crisis among young Aussies, with a 50% increase in mental disorders since 2007, set to impact Australia’s productivity and healthcare system. LINK

• Australian businesses face challenges in AI adoption due to a 14% higher shortage of technical skills compared to the global average, despite high enthusiasm for AI. LINK

• Australian small businesses are bracing for tough economic conditions, with a cautious approach to lending and spending. LINK

• There has been a drop in lenders offering mortgage cashbacks, with banks learning from this trend and unlikely to resume such offers soon. LINK

• A new study from the HR software Workday reveals 60% of Aussies distrust artificial intelligence, the highest level recorded out of the 15 countries surveyed. LINK

Global News

• Oil prices rise after Iran-backed militants' drone strikes kill US troops in Jordan and attack a Red Sea fuel tanker. LINK

• Saudi Arabia opens its first alcohol store in Riyadh's diplomatic quarter, aiming to regulate alcohol quotas and counter illicit trade. LINK

Company News

• Suncorp faces unexpected costs from older car and home insurance claims, compounded by recent wild weather damages. LINK

• Perpetual CEO Rob Adams attributes the worst quarter for active equity managers in 15 years to clients withdrawing US$176 billion globally, despite a concurrent increase in the group's assets under management. LINK

• Sara Lee, after entering voluntary administration, was just sold to the Quinn family, securing over 200 jobs. LINK

• Woolworths anticipates writedowns in New Zealand and a $200M hit from Endeavour Group, with variable performance across its business units. LINK

• Woolworths reports a sales decline in its Australian fashion arm, indicating a consumer shift from goods to services. LINK

• Microsoft's Teams service resumes normal operation following a widespread outage affecting thousands of users. LINK

• Evergrande's liquidation in Hong Kong poses risks to the Chinese economy and could have global repercussions. LINK

• Woodside Energy faces a potential delay in LNG supplies due to a US export license pause impacting its supplier, Commonwealth LNG. LINK

This Week’s Top Picks

• AlphaTauri F1 Team Renaming: Red Bull's Formula 1 junior team, AlphaTauri, rebrands to Visa Cash App RB F1, facing mockery and criticism for its new name, regarded as one of the worst in F1 history. LINK

• Apple delays the launch of its electric vehicle and scales back its self-driving features amid challenges transitioning from gadgets to automotive technology. LINK

• A Bureau of Meteorology scientist loses his job and fails to get reinstated after secretly working overseas while claiming to be working from home. LINK

• Gen Z remains keen to work at the big four accounting firms, with EY, KPMG and Deloitte reporting significant surges in applications for graduate and vacation roles. LINK

• Record renewable energy generation led to a 24% drop in wholesale electricity prices in the fourth quarter of 2023-24. LINK

• Australia's population surpassed 27 million, reaching this milestone 18 years earlier than predicted, with migration significantly contributing to this growth. LINK

   

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