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NDIS Misuse, Luxury Unit Lending & The Grounds of Alexandria
Macquarie slashes its ETF fees to 0.03%.
Pick & Scroll News
May 16, 2024
One Read, All Perspectives
Australian News
Australian wage growth unexpectedly slowed from 15-year highs in the first quarter. LINK
Australia's federal budget forecasts a sharp drop in net migration, amid government efforts to overhaul the system. LINK
While tradies are boosting the Australian housing market with supply, more action is needed on affordability with stamp duty continuing to be a significant hurdle. LINK
Critics say the latest federal budget missed opportunities for deeper tax reform, needed to drive productivity and avoid offshoring Australian manufacturing. LINK
Blackstone sees a downturn in office property values post-pandemic but identifies investment opportunities at the premium end of the market. LINK
Growing tax debt drives Australian small businesses toward restructuring, with the ATO focusing on recovering over $50 billion in outstanding taxes. LINK
NDIS faces misuse as providers urge participants to accelerate spending before reforms aimed at reducing the scheme's costs take effect. LINK
Lenders show a preference for financing luxury units over more affordable housing projects, potentially undermining government housing supply goals. LINK
Experts caution on Australia's migration policy, emphasising the need to balance university and skilled worker needs with overall immigration management. LINK
Holiday home owners to receive up to $600 in energy bill credits, part of a $3.5 billion federal subsidy to all households. LINK
Australia's housing targets may miss due to insufficient workforce, despite budget allocations for training and fast-tracking foreign tradie visas. LINK
Global News
Chinese asylum seekers are reportedly paying $15,000 to enter the US via Mexico. LINK
Company News
Fiji Airways is monitoring Air Vanuatu as a strategic acquisition to limit Virgin Australia's regional expansion. LINK
Iress investigates potential client data breach after hackers stole access credentials to its OneVue platform. LINK
Macquarie slashes its ETF fees to 0.03%, intensifying price competition in Australia’s asset management sector. LINK
Incitec Pivot nears completion of its $1 billion fertiliser division sale with positive progress reported by advisors. LINK
Santos to cut 200 jobs amid delays in key projects like the Barossa gas development, due to regulatory and legal challenges. LINK
The Grounds of Alexandria site owner sells off industrial properties, capitalising on premium valuations to refocus its portfolio. LINK
Ampol remains the frontrunner to acquire EG Group's Australian convenience retail operations, valued at at least $1.5 billion. LINK
Australian Agricultural Company reports a herd increase but lower profits in FY24, due to challenging conditions. LINK
Life360 seeks a New York listing, joining other Australian companies exploring dual listing options to tap into broader capital markets. LINK
Fletcher Building initiates the sale of its Tradelink division, speeding up the bidding process as it seeks to divest its plumbing supplies business. LINK
Star Entertainment argues to retain its casino license, distancing itself from past executive misconduct and pledging compliance with regulatory standards. LINK
This Week’s Top Picks
Charles Sturt University researchers have managed to convert wool and hair into graphite for lithium batteries. LINK
Average Australian household spending is up 18% to $2,472 per week in the past 5 years. LINK
OpenAI launches a new AI voice assistant, GPT-4o, inspired by Hollywood AI depictions, featuring real-time voice interaction, enhanced multimedia capabilities and a desktop presence. LINK
Hedge funds target Qantas again, placing nearly $300 million in short bets against the airline as it navigates customer relations and regulatory challenges. LINK
Dyson introduces the WashG1, aiming to revolutionise the cleaning market by transforming traditional mopping with its innovative technology. LINK
Debate intensifies over making public transport free in Australia, as it ranks as the third most expensive globally. LINK
South Australian legislation aims to ban social media for children, but experts argue holding platforms accountable is a more effective approach. LINK
International airfares drop by an average of 13%, with significant price reductions to competitive destinations like Bali, New Zealand, and the US, according to Flight Centre data. LINK
Australia's radio industry sees a significant drop in advertising revenue, falling 23% from last year's peak due to higher interest rates and tough economic conditions. LINK
Nestle reveals 'shrinkflation' tactics in Australia, providing a Senate inquiry with details on how it reduced product sizes to manage cost pressures while maintaining prices. LINK
Western Australian government's spending surged by nearly 9% in FY23-24 due to unprecedented migration, pushing its population towards 3 million and straining public services like education and healthcare. LINK
Australian government's budget to include a $3 billion HECS debt relief, with plans to adjust debt indexing to the lower of WPI or CPI starting from last year to ease student financial pressures. LINK
New federal regulations aim to cap international student intakes, linking enrolment limits to university investments in student housing. LINK
Borrowing to invest in property remains more popular than shares among Australians due to the volatility and higher risks associated with share investment, despite the growing appeal of internally geared ETFs. LINK