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Nestle, Honda & Lendlease
The US is expected to impose 100% tariffs on Chinese electric vehicles this week.
Pick & Scroll News
May 13, 2024
One Read, All Perspectives
Australian News
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
New broadcasting laws could end free sports viewing on TV as the government debates a bill that may push iconic sports behind international streaming services' paywalls. LINK
Reliance on AI tools risks homogenising content, with users often accept subpar generative outputs. 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
Tuesday's federal budget will allocate billions for substantial pay raises in aged care and childcare, and includes provisions for superannuation on parental leave. 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
Western Australia's farmland value surge is expected to end in 2024, as drier conditions are forecasted to halt the growth trend that saw land prices rise 32% last year. LINK
Global News
Global rent hikes challenge central banks' inflation targets, with rising housing costs in the US, UK, Canada and Australia fuelling wage demands and complicating monetary policy. LINK
Global equity funds saw a dramatic increase in demand, with a net $12.72 billion invested in the last week, spurred by speculation on US Federal Reserve rate cuts. LINK
American banks are retreating from the Australian market as Chinese lenders increase their presence. LINK
The US is expected to impose 100% tariffs on Chinese electric vehicles this week, in a move to protect domestic industries from low-cost Chinese imports, which also includes additional duties on other goods like semiconductors. LINK
Company News
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
Women’s National Basketball League (WNBL) seeks investors for a potential $20 million infusion as Basketball Australia offers a majority stake amid rising popularity in women's sports. LINK
Sportsbet used a shell company to covertly run a tipping competition, circumventing advertising regulations and promoting its gambling offers. LINK
QBE Insurance reported an 11% increase in Australian premiums, though the rate of increase is slowing, marking the smallest rise in a year amid global operational adjustments. LINK
Commonwealth Bank has won a legal battle over claims it failed to disclose risks related to anti-money laundering, with the court ruling in favour of the bank against class action litigations. LINK
TikTok will start labelling AI-generated content with digital watermarks to tackle potential misinformation, especially concerning US elections. LINK
Apple to roll out AI features powered by its own in-house chips in data centres. LINK
Airbnb's shares fell nearly 7% due to a subdued forecast for the second quarter, with earlier Easter holidays and currency fluctuations impacting revenue expectations. LINK
OpenAI is set to announce an AI-powered search product, intensifying its competition with Google and other AI search initiatives. LINK
Apple apologises for an iPad Pro ad after backlash over its portrayal of creative symbols and instruments being destroyed. LINK
Starlink experiences service degradation due to the largest geomagnetic storm in 2 decades, affecting its extensive satellite network. LINK
Tech giants' insiders, including Jeff Bezos and Mark Zuckerberg, capitalise on soaring stock prices, collectively selling over US$160 million in shares as part of the largest tech-driven equity boom. LINK
Lendlease confronts a $112 million tax bill from the Australian Tax Office, potentially escalating to over $300 million in penalties, related to financial discrepancies in its retirement living unit transactions. LINK
Honda plans to boost its R&D spending by nearly 25% this financial year to enhance its competitiveness in hybrid and electric vehicles. LINK