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When you put your salary expectations in for a job and the recruiter accepts straight away, you know you've left a few dollars on the table.
Pick & Scroll News
September 19, 2024
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Good morning. When you put your salary expectations in for a job and the recruiter accepts straight away, you know you've left a few dollars on the table.
When you are unknowingly selling something to the third richest person in the world, there's also not much need to drop your price. A Brazilian businessman, Leo Kryss, is now suing a real estate company, claiming he was deceived into selling his Miami Beach mansion to Jeff Bezos for $79 million instead of $85 million (Leo's GoFundMe sympathy page hasn't taken off).
Jeff Bezos was also in the news this week as he briefly moved from the second richest man in the world to third behind Larry Ellison who has benefitted from a 20% increase in Oracle's share price due to the AI boom.
All the headlines and more below...
AUSTRALIAN NEWS
Sydney train commuters could face possible interruptions as rail workers strike over Metro
Sydney train commuters may face delays and disruptions as the RTBU threatens to strike over government plans to extend the Metro using the existing T3 Bankstown line corridor. LINK
Australia's unemployment rate has risen gradually to 4.2%. LINK
More young voters are concerned about housing affordability ahead of the upcoming election. LINK
The RBA is exploring a digital Australian dollar for banks to streamline transaction settlements but remains cautious about creating digital cash for consumers. LINK
The Productivity Commission recommended free childcare for Australia’s poorest families at a cost of $5B a year. LINK
Real estate agents in Australia will face new costs under upcoming anti-money laundering rules, which require more thorough client scrutiny and could result in penalties for non-compliance. LINK
Residential property profits in Australia hit a record high in the June quarter, with average gains of $285,000 per sale. LINK
Legal disputes over the remains of loved ones are rising, with cases increasingly ending up in courts over funeral arrangements and ashes distribution. LINK
The NSW government will no longer be liable for financial losses caused by Sydney light rail construction after a court appeal overturned a previous ruling that awarded $4M in compensation to affected businesses. LINK
GLOBAL NEWS
Migrant workers exploited in Italy’s luxury leather industry
Migrant workers in Italy's luxury leather industry have accused contractors of exploiting them through illegal working hours. LINK
UK inflation remained steady at 2.2% in August. LINK
Battery-electric vehicles are expected to capture 20%-24% of the EU car market by 2025, driven by lower prices despite current policy inconsistencies and tariffs on Chinese cars. LINK
Global investors are flocking to defensive sector funds like consumer staples and utilities. LINK
Biden administration to host a global AI safety summit in November. LINK
China froze the assets of 9 US military-linked firms in retaliation for US arms sales to Taiwan. LINK
Japan's economy showed signs of moderate recovery in September. LINK
Vietnam's President will meet with Google and Meta to discuss business ties. LINK
COMPANY NEWS
Pinot & Picasso under administration
Pinot & Picasso has gone into administration due to rising living costs, despite a post-pandemic boom in social painting parties. LINK
Instagram is rolling out enhanced privacy settings and parental controls for users under 18, automatically switching teen accounts to private and requiring parental approval for some changes. LINK
Atlassian criticised Amazon’s return-to-office mandate, describing it as “wilfully endorsing the old way”. LINK
Amazon to raise warehouse worker wages by at least US$1.50 an hour to more than $22 an hour. LINK
Jetstar is facing a lawsuit in New Zealand over allegedly misleading customers about compensation rights, in addition to a class action over handling Covid-19 travel credits in Australia. LINK
Optus' much-anticipated deal with Tesla remains in limbo, as the company has gone silent following a public announcement and the suspicion of NDA-related complications. LINK
Mosaic Brands, owner of Millers and Noni B, is negotiating with landlords for rent relief as it restructures and refinances with the help of Deloitte. LINK
JP Morgan appoints executive to oversee junior bankers' "wellbeing and success". LINK
Harvey Norman faces a class action lawsuit over allegedly selling “worthless” extended warranties with "little or no value". LINK
Rio Tinto is planting 750,000 pongamia trees on 3,000 hectares of land in QLD to create biofuels that will reduce its reliance on diesel to curb carbon emissions. LINK
Microsoft and BlackRock plan to launch a $30B fund to invest in AI infrastructure, focusing on data centres and energy projects. LINK
Tupperware Brands filed for bankruptcy protection due to dwindling demand for its once-popular food storage containers, worsened by rising costs of materials and a post-pandemic sales drop. LINK
Electronic Arts unveiled a new Battlefield title, expected to be set in a modern-day environment. LINK
Snap introduced a new version of its Spectacles augmented reality glasses. LINK
JPMorgan is in talks with Apple to take over the tech giant's credit card partnership from Goldman Sachs. LINK
JPMorgan CEO Jamie Dimon is set to visit Africa next month in a push to expand the bank's presence on the continent. LINK
Uber is launching new features in the US, including "verified" rider badges and the ability to record trips via smartphone, to improve safety for both drivers and passengers. LINK
Google won a challenge against a €1.49B antitrust fine imposed by the EU, as the court found the European Commission failed to fully consider all relevant circumstances in its ruling. LINK
Elon Musk's Neuralink received FDA's "breakthrough device" designation for its brain implant, aimed at restoring vision. LINK
THE ODD PICK
Chicago restaurant debuts the ‘most expensive martini in the US' at $13,000 USD
CHART OF THE DAY
Hydrogen is necessary to reach net zero
ONE MORE SCROLL
Red Bull set to drop Australian Formula 1 star Daniel Ricciardio after Singapore Grand Prix
TOGETHER WITH
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TRIVIA
Women’s Rights
On this day in 1893, New Zealand became the first country to give women the vote. Can you put the historic Australian events in order?
Sex Discrimination Act: illegal to discriminate on the basis of sex, marital status or pregnancy
Julia Gillard becomes first female Prime Minister
Edith Cowan elected as Australia’s first female Member of Parliament
Equal Pay for Equal Work
Australian women gain the right to vote federally
Answers below
OUR SOCIALS
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ANSWERS
1902 – Australian women gain the right to vote federally
1921 – Edith Cowan elected as Australia’s first female Member of Parliament
1972 – Equal Pay for Equal Work
1984 – Sex Discrimination Act: illegal to discriminate on the basis of sex, marital status or pregnancy
2010 – Julia Gillard becomes first female Prime Minister
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