Milk Wastage, Netflix Price Rises, and Canva's Delayed IPO

Australian News

• Over 150 truck drivers for dairy producer Saputo began a landmark strike, potentially leading to milk wastage by Victorian farmers.

• The Federal government's radical changes to casual work may lead to job losses and wage cuts.

• RBA hinted at a potential rate rise in November due to inflation concerns.

• Over 655,000 granny flats could help alleviate Australia's housing shortage with appropriate incentives and approvals.

• Rising insurance premiums and living costs resulted in nearly 40% of residents in disaster areas cancelling their home insurance.

• MBA job offers are in short supply due to recruiting pullbacks across tech, finance and consulting.

Global News

• A global network of crypto, cash and charities funds Hamas.

• An economic slowdown and rising borrowing costs has led to a significant rise in corporate insolvencies.

• Fiji’s Prime Minister Sitiveni Rabuka expressed concerns over the intensifying US-China rivalry and its global implications.

• The Hamas-Israel war strains the US defence sector, which is already impacted by Russia's activities in Ukraine.

Company News

• YouTube is cracking down on ad-block users by constantly changing its ad-blocking detection scripts.

• Netflix might raise subscription prices after successfully curbing password sharing while launching a limited beta test of its games streaming service in the US.

• Canva plans to delay its IPO until 2025/2026 but has created ways for stakeholders to cash out earlier.

• NAB and CBA have introduced the ConnectID service to streamline transactions and bolster user security.

• RBA staff contemplate industrial action due to a proposed 11% pay rise offer, which led to employee dissatisfaction.

• Autobarn owner Bapcor is seeing slowed revenue growth and profit.

• Microsoft's LinkedIn plans to lay off approximately 668 roles across diverse teams.

• Following the Voice referendum result, Australia’s big banks are offering cultural leave to Indigenous staff.

• Apple’s iPhone has lost its leading market position in China, with local brands like Huawei gaining prominence.

• Google is transitioning from passwords to passkeys, integrating biometrics and PINs for enhanced security.

• Goldman Sachs wants out of consumer lending.

This Week’s All Star Picks

• Australian live cattle export prices to Indonesia have plummeted by over 50% in the past 18 months with Indonesia increasing its number of boxed imports.

• Over 1,400 dairy workers are set to strike for 48 hours, leading to potential "massive disruption" in Victoria's dairy sector, impacting production of milk, cheese, ice cream and yoghurt.

• Melbourne and Sydney inner property markets see a decline in investors due to weak capital growth and elevated holding costs; Melbourne's investor-owned listings reach 60% in the September quarter.

• Argentina discloses a 12.7% inflation rise in September, leading to a staggering 138% annual rate.

• Atlassian seals its largest-ever deal, acquiring video-messaging startup Loom for $US975M, investing in remote work trends.

• Canva informally advises emerging startups on hiring in Manila, contrasting tech industry appeals for more Australian roles.

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