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News Corp x OpenAI, The Reject Shop & Spending Patterns
AI-skilled education managers are earning higher wages.
Pick & Scroll News
May 24, 2024
One Read, All Perspectives
Australian News
Canberra's electricity bills to rise, with the average household facing an annual increase of $240 due to a 12.75% rate hike. LINK
Housing crisis pushes families into substandard caravan parks on the NSW Central Coast. LINK
Melbourne University protest ends with disclosure agreement, as Pro-Palestinian students claim victory, persuading the university to reveal its research partnerships with weapons manufacturers. LINK
Bank customers could face $370 million in fees to maintain rural branches, with Australia's major banks potentially passing costs to consumers if a new levy is imposed. LINK
Universities anticipate drastic foreign student cuts, with potential enrolment reductions up to 95%. LINK
'Green' homes command up to 53% premium, with properties featuring eco-friendly elements like solar panels and double glazing fetching higher prices. LINK
Systemic underpayment remains prevalent in social services, with a third of workers in the sector, including family violence and disability support workers, not receiving their lawful wages. LINK
AI-skilled education, research or development managers earn top wage premiums, with PwC's AI Jobs Barometer showing significant salary advantages for those proficient in AI across various managerial roles in Australia. LINK
Spending patterns reveal generational divide, with young Australians cutting back significantly on expenditures compared to older adults who are increasing their spending, especially on travel and dining out. LINK
Global News
Company News
Nvidia's sales boom driven by high demand for AI chips. LINK
Optus faces a lawsuit over its 2022 cyberattack against allegations of failing to protect customer data, compromising millions of users' personal information. LINK
The Reject Shop attracts bargain hunters, seeing a rise in customer numbers and sales growth as it reclaims its niche in the discount retail sector under new leadership. LINK
Delays and financial troubles for Spirit of Tasmania ferries, as the Finnish builder struggles, removing a late-fee clause and adding uncertainty to delivery schedules. LINK
Virgin Money shareholders approve Nationwide takeover, resulting in the bank's exit from the ASX and LSE, valuing the deal at £2.9 billion ($5.5 billion). LINK
News Corp and OpenAI sign a $377 million content deal. LINK
Coles warns of rising grocery prices due to construction cost blowouts, affecting the expansion of new supermarkets primarily in South-East Queensland. LINK
This Week’s Top Picks
Google tests AI-generated ads, planning to introduce search and shopping ads within AI Overviews in the US. LINK
All states except Western Australia face housing shortages, with a growing gap between supply and demand, particularly in NSW and Victoria. LINK
APRA endorses AI use in banking, encouraging institutions with robust governance to integrate advanced AI technologies to enhance efficiency and customer service. LINK
Illegal super withdrawals increase, driven by the 'it's my money' attitude, despite the significant penalties and impacts on retirement savings. LINK
Banks report a decline in financial scam losses, with the Australian Bankers Association noting an 11% reduction. LINK
Dire forecast for Australian hospitality sector, with 1 in every 13 businesses expected to fail in the next year as financial pressures mount. 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
Australians currently average 3.2 streaming subscriptions. 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
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
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
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