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NBA, SPC Fruits & Domestic Violence
First home buyers have 2 weeks to utilise the First Home Super Saver Scheme, which could add $12,000 to their deposit.
Pick & Scroll News
June 07, 2024
One Read, All Perspectives
Australian News
Queensland Labor will increase its spending on green energy projects to $26B over 4 years, aiming to reverse a poll collapse ahead of the state election. LINK
The National Anti-Corruption Commission will not investigate former Coalition ministers over the robo-debt scheme. LINK
About 1 in 4 South Australian households will receive a $51.5M one-off cash payment, with low-income households getting $243.90 each. LINK
First home buyers have 2 weeks to utilise the First Home Super Saver Scheme, which could add $12,000 to their deposit. LINK
The retail and fast food workers’ union has launched a case to raise teen pay to adult rates, potentially increasing pay by up to 42% for 18- to 20-year-olds. LINK
Domestic violence leave has been underutilised despite being law for a year. LINK
Unions are lobbying for 5 weeks of annual leave for all workers. LINK
NAB reports growing business confidence despite labour shortages and cost constraints, as businesses continue to invest in preparation for recovery. LINK
US regulators will investigate Nvidia, Microsoft and OpenAI for potential antitrust violations in the AI industry, with the Justice Department and FTC taking the lead. LINK
Australia's trade surplus rebounded to $6.5B in April as imports fell sharply, though exports of iron ore and coal also softened. LINK
Global News
Advocacy groups are calling on European privacy enforcers to stop Meta from using personal data to train its AI models without user consent. LINK
Global investors withdrew $60B from ESG funds in 2024 due to poor performance and scandals, the first year of sustained outflows. LINK
The Five Eyes intelligence partners accused China of aggressively recruiting Western fighter pilots to train its military aviators. LINK
Canada became the first major central bank to cut interest rates, reducing its rate to 4.75%. LINK
US regulators have reached a deal to proceed with antitrust investigations into the dominant roles of Nvidia, Microsoft and OpenAI in the AI industry. LINK
Company News
Qantas has received regulatory clearance for ultra-long-range flights, enabling flights over 20 hours. LINK
SPC Global Ltd will cut its peach and pear intake by nearly 40% due to declining demand for canned fruit. LINK
Bega Group is reviewing the sale of its Queensland peanut processing factory to streamline its manufacturing base and focus on its brands. LINK
The Pharmacy Guild of Australia has convinced Labor to stop Chemist Warehouse from offering a $1 discount on medicines, as part of a new pharmacy agreement. LINK
IDP Education is cutting costs to mitigate the impact of a 20-25% expected decline in the international education market. LINK
NAB is pressuring clients to have pollution reduction plans to access financing. LINK
Rail freight company Austrans faces a winding-up order, putting hundreds of logistics jobs at risk as the company struggles with debts and layoffs. LINK
Qantas is nearing pre-COVID customer satisfaction levels by enhancing its in-flight beverage selection, including adding Campari. LINK
Nvidia surpassed a US$3T market cap, joining Apple and Microsoft, driven by its pivotal role in AI. LINK
Campbell Soup raised its annual net sales forecast, citing a recovery in demand for soups and frozen meals alongside its acquisition of Rao's sauce maker Sovos Brands. LINK
The National Basketball Association is close to securing media rights deals with NBC, ESPN and Amazon worth approximately $76B over 11 years. LINK
Guzman y Gomez is under scrutiny for excluding lease liabilities, its second-highest cost, similar to WeWork's controversial accounting practices. LINK
Viva Leisure is set to raise $16M to acquire 8 health clubs in WA for its Club Lime brand, with a Big Four lender agreeing to a $6M loan. LINK
NZ’s SkyCity Entertainment has suspended dividends and cut earnings guidance due to project delays and a challenging economic environment. LINK
This Week’s Top Picks
Australians may face higher orange juice prices and changes in juice blends due to a global orange shortage caused by drought and disease in Brazil. LINK
Australia's GDP growth slowed to 0.1% in Q1 due to high borrowing costs and inflation, marking the slowest pace outside the pandemic in 3 decades. LINK
Carnival Corporation will shut down P&O Cruises Australia due to high port charges and berth difficulties, folding the brand into Carnival Cruise Line next March. LINK
Businesses in regional Western Australia are building homes to attract staff due to a severe housing shortage. LINK
NDIS integrity chief reported 90% of plan managers showed significant indicators of fraud, including misuse of scheme funds for drugs and alcohol. LINK
House prices in some of the cheaper suburbs in Sydney and Perth surged by more than 10% in 3 months. LINK
Queensland is now the second most expensive state for housing in Australia. LINK
Hundreds of Victorians are calling the RSPCA each month to surrender pets they can't afford to keep. LINK
Australia's wealthiest 200 individuals now control $625B, reflecting an 11% increase in their total fortune, with technology, resources and property driving growth. LINK
Guzman y Gomez is preparing for a $2.2B IPO on the ASX in June. LINK
Qantas will establish Perth as a major aviation hub with a $3B investment in new terminal and runway infrastructure at Perth Airport. LINK
Nvidia unveiled its next-generation AI processors, Rubin. LINK
