🗞️ Milking it

Good morning. If you’re not seeing any progress at the gym, you may want to switch out your morning coffee.

Multiple scientific studies have suggested chocolate milk as the go-to post-workout beverage.

Gains or not, we won’t be passing up on a guilt-free glass of chocolate milk!

All the headlines and more below...

AUSTRALIAN NEWS

Leaked Treasury advice lists possible outcomes of Labor's yet to be held round table

• A leaked Treasury document suggests AI-based environmental reforms and housing approval acceleration to boost productivity growth. LINK

• The latest wastewater report has revealed Australians consumed more than 20 tonnes of illicit drugs worth billions of dollars over 1 year, with cocaine use having risen 69% from the previous year. LINK

• Unemployment fell to 4.2% in July as the Australian job market added 24,500 positions. LINK

• Australian grocery prices surged 11% annually. LINK

• The ATO has processed 2.6M tax returns with average refunds of $2,548 each, totalling $6.6B. LINK

• The University of Technology Sydney has “temporarily suspended” new enrolments for 146 courses across 6 faculties, with 400 staff jobs on the chopping block. LINK

• Jobs and Skills Australia reports that AI will modify rather than replace most Australian jobs, with administrative roles facing the highest risk while nurses, tradies and cleaners remain least affected. LINK

• Declining business competition since the mid-2000s has cost Australian households up to $3,000 per person in lost output. LINK

• Australia's wellness sector grew to $194.4B in 2023, representing 7% of GDP, whilst younger Australians prioritise fitness activities. LINK

• ASIC is suing ASX over allegedly misleading investors about a failed blockchain upgrade, with potential penalties of $500M. LINK

COMPANY NEWS

Qantas cancels flights at double the rate of Virgin

• Qantas has cancelled 3.2% of flights over the past year, double Virgin's rate according to ACCC data. LINK

• Aldi has topped Canstar's supermarket satisfaction survey with 5 stars for value and quality. LINK

• ASIC has taken Mercer Super to court over alleged failures to disclose investigations into major member service failures, including wrong insurance refunds to deceased members, between October 2021 and September 2024. LINK

• Ampol will acquire EG Group's Australian operations for $1.1B through an $800M cash and $250M share payment. LINK AUS

• Temple & Webster achieved record sales and profits through AI investment. LINK 

• Telstra has reported its first decline in post-paid mobile customers in over 15 years, alongside falling pre-paid numbers. LINK 

• Amazon has expanded its Prime same-day delivery to include perishable groceries across 1,000 US cities. LINK

• Westpac reported a 5% rise in quarterly profit to $1.9B, driven by stronger margins and $16B in new loans. LINK

• Suncorp posted a $1.49B FY25 profit and announced a $400M share buyback, driven by improved insurance margins. LINK

• AGL Energy plans to sell wind projects to raise nearly $3B for battery investments and wind generation. LINK

• Pro Medicus reported a 39% profit increase to $115.2M whilst securing $520M in new contracts. LINK

• Origin Energy posted a $1.48B full-year profit as strong LNG trading offset falling retail margins. LINK

• Orora reported a 425% surge in FY25 statutory profit to $973.1M after selling its North American business. LINK

CHART OF THE DAY

Where do robots work?

ONE MORE SCROLL

Editor’s Pick: Full list: 24 banks refuse RBA rate cuts.

Draft Pick: AFLW 2025 predictions from Fox Footy‘s commentary team.

Odd Pick: ‘A memorable one:’ Man’s pet ball python rescued after getting loose on train.

TOGETHER WITH

Doga Sydney - Corporate Cuddles & Puppy Yoga

Take what you’re doing offline and circle back on team wellness because real team bonding happens with puppies, not PowerPoint. Give your team an event they’ll actually look forward to with Puppy Yoga!

We’ve got you covered with Corporate Cuddles and Puppy Yoga 🐶

TRIVIA

We are going to give you 6 animals, and you have to name what their offspring would be called i.e. bear = cub.

1. Cow

2. Horse

3. Pig

4. Deer

5. Whale

6. Owl

Answers below

OUR SOCIALS

ANSWERS

1. Cow = Calf
2. Horse = Foal
3. Pig = Piglet
4. Deer = Fawn
5. Whale = Cub
6. Owl = Owlet

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