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If you were the person who purchased the Fyre Festival IP this week from ex-convict Billy McFarland for US$245,300.... why did you do that?
Aussie Corporate & Pick & Scroll News
July 18, 2025
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Good morning. If you were the person who purchased the Fyre Festival IP this week from ex-convict Billy McFarland for US$245,300.... why did you do that?
The eBay auction said a portion of the funds would go towards paying off Billy’s fines from Fyre Festival one. Given those fines are US$26 million, the debt collection team may be waiting a while.
All the headlines and more below...
AUSTRALIAN NEWS
Australia's jobless rate hits 3.5-year high
Australia's unemployment rate has jumped to a 3½-year high of 4.3% from 4.1%, confirming the jobs market is cooling whilst paving the way for the RBA to cut interest rates in August. LINK
A Federal Court has ruled that superannuation funds can be legally paid to step-parents over biological children without binding death benefit nominations. LINK
ABS data suggests AI job displacement fears may be overstated as new roles emerge to replace affected positions. LINK
Financial analysis shows renters who invest in property could be $116,000 better off over 10 years than owner-occupiers. LINK
Australian managers are facing increased workplace stress due to mounting pressure from employees and executives whilst maintaining productivity targets. LINK
Australian retro motels are experiencing revenue growth towards $3.9B by 2025 driven by domestic tourism, business leisure and social media popularity. LINK
Australia's record-low birth rates are impacting economic and healthcare sectors due to growing climate concerns. LINK
Australian executive wealth has shifted from media and finance to tech whilst female representation remains low with 3 women in the top 50. LINK
Australian apple growers have gained access to export to China beyond TAS through a new trade agreement whilst reducing supermarket dependence. LINK
Top law firms are using unconventional screening methods whilst offering $110,000 starting salaries to graduate lawyers. LINK
GLOBAL NEWS
US House agrees to consider crypto legislation in big win for the digital asset industry
COMPANY NEWS
Mastercard and Equifax launch open banking credit score initiative
Mastercard and Equifax have launched Open Score as Australia's first credit rating product using open banking data. LINK
Morgan Stanley reported a 15% rise in Q2 profits to US$3.5B driven by strong wealth management and trading revenue. LINK
OpenAI has added Google Cloud as a compute partner alongside Microsoft, Oracle and CoreWeave to meet rising AI infrastructure needs. LINK
Meta faces a US$7B investor lawsuit over a 2019 privacy settlement that shielded Mark Zuckerberg from the Cambridge Analytica scandal. LINK
Warner Bros. Discovery has committed to expand Australian programming on HBO Max despite delayed streaming content quotas. LINK
The ACCC cleared Omnicom's US$20.8B acquisition of Interpublic as it will not reduce competition in advertising services. LINK
Publicis raised its FY25 growth forecast whilst its CEO dismissed Meta's AI advertising tools as overhyped. LINK
Qantas has obtained a court order to prevent access to personal data stolen in a cyberattack affecting 5.7 million customers. LINK
Clarity Pharmaceuticals has completed enrolment in a phase two study for an early prostate cancer recurrence imaging agent. LINK
Goldman Sachs posted a record US$4.3B in equity-trading revenue whilst lifting Q2 profit to US$3.72B. LINK
Endeavour Group will remain reliant on Woolworths for key tech functions until 2030. LINK
CSL and Wesfarmers are leading a surge in ASX share buybacks while 41 firms participate amid geopolitical uncertainty. LINK
ONE MORE SCROLL
Editor’s Pick: True size of black holes.
Draft Pick: Wallabies call on Nick Champion de Crespigny for surprise debut in Lions opener.
Odd Pick: The strange world of crocodile hairballs and the Queensland who collect them.
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TRIVIA
It's Noah Lyles’, the current 100-metre Olympic champion, 28th birthday today. If you haven't watched the documentary 'Sprint' on Netflix yet, we highly recommend.
Our trivia for the day is on the fastest Male and Female athletes:
Who is the fastest male and female over 100 metres?
What nationality are they?
What are their exact times?
Answers below
OUR SOCIALS
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ANSWERS
1. Usain Bolt and Florence Griffith-Joyner (Flo-Jo)
2. Both Jamaica
3. 9.58 and 10.49 seconds
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