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- Mount Fuji, Virgin Australia & Crypto Rally
Mount Fuji, Virgin Australia & Crypto Rally
Australians currently average 3.2 streaming subscriptions.
Pick & Scroll News
May 22, 2024
One Read, All Perspectives
Australian News
Experts want more government project transparency with more states having to report cost blowouts and delays like with ASX-listed companies to improving accountability in public sector investments. LINK
AU renewable energy investment is set to surge to $20 billion annually by 2026/27, driven by the closure of coal-fired power stations and ambitious carbon reduction targets. LINK
Cost-cutting consultants are in high demand as businesses seek efficiency improvements through digitisation, automation and workforce optimisation in a challenging economic climate. LINK
Generative AI's limitations in summarising complex regulatory documents were highlighted by ASIC. LINK
There is a luxury property rebound seen in Sydney and Melbourne's premium suburbs, where home values have increased by up to 7% recently. LINK
Cryptocurrency market rallies with Ethereum experiencing its largest jump since 2022 amid speculation of impending US regulatory approval for an ETH ETF. LINK
Households are expected to save 80% of new tax cuts, a trend that supports the RBA's efforts to manage inflation expectations and interest rate adjustments. LINK
Macquarie predicts a 50% chance of recession this year as the Australian economy faces challenges from reduced immigration and high interest rates. LINK
There are increased risk of summer blackouts in NSW and Victoria due to project delays and plant closures, prompting warnings for large energy users to prepare for potential power shortages. LINK
Holding excessive cash can be detrimental to wealth, as it often underperforms compared to other asset classes like bonds, property and stocks. LINK
Queensland's budget deficits are projected to continue, with the government attributing the $3 billion deficit in the 2024-25 fiscal year to measures supporting those affected by the cost of living. LINK
Australians currently average 3.2 streaming subscriptions. LINK
Decriminalisation of begging in Tasmania may proceed as the state's Greens party pushes for a change to a law established during the Great Depression. LINK
Global News
Global fund managers are investing heavily in Asia and emerging markets, with Schroders and Blackrock adjusting their portfolios away from US equities. LINK
The International Criminal Court has issued arrest warrants for Israeli leaders targeting Prime Minister Benjamin Netanyahu and Defence Minister Yoav Gallant over actions in Gaza. LINK
Due to overtourism in Japan, Mount Fuji will require tourists to book in advance and pay a fee to climb, alongside new safety measures to manage the increased visitor impact and risks. LINK
Crypto startup funding increased to $2.4 billion in Q1 2024, driven by lower interest rate expectations and the launch of the US’ first bitcoin spot ETF, contrasting with a decline in global venture capital investments. LINK
European luxury retailers anticipate tourist boost during the Paris Olympics, with cities like London, Milan and Barcelona expected to attract visitors seeking alternatives to the congested French capital. LINK
Company News
Bunnings management reshuffle sees 4 executives depart, part of a strategy overhaul that focuses on reshaping rather than reducing costs. LINK
Telstra announces job cuts as it plans to eliminate up to 2,800 positions, nearly 10% of its workforce, in a major restructuring to cut costs and discontinue annual inflation-linked price adjustments for mobile plans. LINK
Tesla shareholders are upset over Musk’s $84 billion compensation package emerges as concerns grow over his focus on multiple companies. LINK
Woodside Energy eyes data centres as key green power customers in Singapore. LINK
James Hardie faces a $3.5 billion market value loss, reflecting a 14.8% share price drop due to a weak housing market outlook and expected profit declines in its global operations. LINK
PwC's legal defence asserts that the dismissal of an associate who made bullying allegations was not due to her 'protected' complaints. LINK
Sonic Healthcare revises profit forecasts down by over $100 million due to inflation, exchange rate issues, and slower-than-expected margin improvements. LINK
Virgin Australia surpasses Qantas as the most punctual airline, a significant turnaround marked by on-time arrivals of 81.4% of flights, displacing Qantas from its long-held top spot. LINK
RBA acknowledges increased inflation risks, contemplating further rate hikes to manage rising prices and maintain inflation within the target range. LINK
TechnologyOne forecasts a 16% profit increase for FY24, buoyed by strong customer demand and record performance in the first half of the year. LINK
Microsoft unveils AI-powered PCs, aiming to revitalise global sales and challenge Apple's market share, with projections of selling over 50 million AI devices in the upcoming year. LINK
IBM to open-source AI models, diverging from competitors like Microsoft by providing free access to its "Granite" AI models and partnering with Saudi Arabia to develop an Arabic AI system. LINK
Zoom upgrades its annual forecast, buoyed by strong demand for its expanded AI-driven product suite as hybrid work environments persist. LINK
Apple aggressively discounts iPhones in China, offering substantial price cuts to compete with local manufacturers like Huawei and maintain its high-end market share. LINK
This Week’s Top Picks
Google's AI shift demands a redesign of business websites to adapt to its new AI-based search, encouraging concise and punchy web content to meet AI preferences. LINK
Childhood obesity risks increase with screen time during meals, as experts warn that this habit can significantly contribute to the obesity epidemic among children. LINK
Coles is leveraging AI and machine learning to predict liquor demand, aiming to enhance supply chain efficiency and responsiveness to consumer trends and seasonal changes. LINK
Westpac is reintroducing timesheets for employees earning up to US$140K to prevent underpayments due to excessive overtime, a measure that has been unpopular among high-earners. LINK