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- Oppenheimer, NAPLAN and Qantas
Oppenheimer, NAPLAN and Qantas
Aussie cereals have decreased in size but increased in cost, Toll roads might stop using coins, and Pfizer will start focusing on cancer.
Pick & Scroll News
March 12, 2024
One Read, All Perspectives
Australian News
NSW Education Standards Authority has decided against making mathematics compulsory for years 11 and 12 students, diverging from a proposal by the Berejiklian government in 2019. LINK
NAPLAN tests will be conducted earlier in the year, allowing teachers additional time to assist students struggling with literacy and numeracy. LINK
Mortgage hardship applications have significantly increased, signalling potential economic risks from financially stretched borrowers. LINK
Investors in unlisted property funds are experiencing losses, particularly from the downturn in the office market, with total returns dropping to a 12.7% loss last year. LINK
House prices in Australia face risks, especially in cities with poor affordability, with expectations for smaller gains in future upswings. LINK
Toll-road reform in NSW is under consideration to improve the efficiency of Sydney’s toll road network and move away from coins. LINK
Heavy rainfall in WA has caused significant flooding across the Goldfields and Nullarbor, disrupting the Trans-Australian Railway line. LINK
Australian cereals have decreased in size but increased in cost, a phenomenon known as shrinkflation. LINK
AI-designed structures are increasingly used in construction, with top firms integrating the technology for efficiency and innovation. LINK
Global News
Wealthy expats face changing tax landscapes in western countries, with the UK scrapping its non-domiciled status and Portugal planning to eliminate its non-habitual resident program, pushing expats to consider countries like Singapore, the UAE, and Monaco for asset protection. LINK
Russia's economy is expected to show continued resilience with upcoming data likely to confirm controlled inflation, despite sanctions and international pressures. LINK
The World Trade Organization (WTO) experiences a setback as the latest Conference ends without significant progress. LINK
Parisians vote to triple parking fees for SUVs in the city center to combat pollution and congestion, with the UK considering similar measures. LINK
China's review of tariffs on Australian wine appears to be making positive progress, according to the Chinese Ambassador. LINK
Company News
Apple and Tesla face challenges in China as market share and sales dwindle amid growing domestic competition and heightened US-China tensions. LINK
About 50 passengers were injured on a LATAM Airlines flight from Sydney to Auckland due to a technical fault causing "strong movement" onboard. LINK
Qantas Airways adjusts its schedule to address disruptions from a planned strike by pilots demanding higher pay at its Network Aviation and QantasLink units. LINK
Nvidia faces a lawsuit by three authors for using their copyrighted books to train its AI platform NeMo without permission. LINK
Pfizer focuses on cancer drugs, aiming for eight blockbusters by 2030 to recover from a 40% stock decline in 2023 after its Covid-19 business drop. LINK
ANZ Private aims to capture a share of Australia's wealthiest families, competing with global banks by offering tailored bond portfolios and new products. LINK
Virgin Australia set to increase airfares following Qantas' lead, as both airlines seek margin growth amidst persistent cost inflation. LINK
Qantas and Airbus invest $29 million in Jet Zero Australia for sustainable aviation fuel development. LINK
Fortescue Energy says Australia's green hydrogen projects depend on cutting power prices to about US$30 per megawatt-hour to be viable. LINK
Qantas pilots sue the airline for allegedly unpaid training allowances over six years, represented by the Australian and International Pilots Association. LINK
ING reports an 11% increase in after-tax profit to $654 million for 2023, highlighting a significant rise from the previous year. LINK
Other News
Oppenheimer dominates the Oscars, winning seven awards including Best Picture, with accolades for Cillian Murphy, Robert Downey Jr., and director Christopher Nolan. LINK
This Week’s Top Picks
Tutoring companies are benefitting from the failures in the school system, with homeschooling numbers doubling since the pandemic as parents seek alternative education options for their children. LINK
Brisbane's business, sports, and civic leaders advocate for a reevaluation of the 2032 Olympics spending, emphasising the importance of avoiding "white elephant" stadiums and ensuring value for money. LINK
International students have significantly contributed to Australia's GDP growth in 2023, with their spending making up more than half of the country's economic growth. LINK
Gen Z women are lagging in homeownership compared to their male counterparts. LINK
Australian vineyards are now destroying millions of vines and impacting the market for cheaper reds. LINK
A former EY partner loses appeal to keep his identity secret after being accused of creating a $700,000 tax exploitation scheme. LINK