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Optus, WFH Costs and KPMG
Australian science curriculum lacks, NAB survey reveals financial difficulty levels, and Seek's salary index rises.
Pick & Scroll News
November 28, 2023
One Read, All Perspectives
Australian News
The Australian dollar rose to a three-month high of US65.94¢, driven by Australia's diverging interest rate outlook with the US. LINK
Australian science education is delivering about half the content compared to seven international jurisdictions in early schooling years due to lack of depth and quality in the curriculum. LINK
QBE highlights the ongoing impact of inflation on Australian car and home insurance, indicating rising pressure in the insurance sector on either customers or shareholders. LINK
Buy Now, Pay Later (BNPL) regulatory laws in Australia have been postponed until next year due to drafting constraints, despite Financial Services Minister Stephen Jones affirming the government's intention to bring BNPL under credit laws. LINK
A NAB survey reveals that 44% of all adults in Australia are facing some form of financial difficulty, with hardship levels hitting a record high especially among younger Aussies. LINK
Southeast Queensland train lines are set for closures from late December to mid-January due to critical works needed for the $6.3B Cross River Rail project. LINK
53% of Australian workers are incurring extra costs while working from home, covering expenses like tea, coffee, electricity and home office equipment. LINK
Property forecasters are divided on the outlook for house prices in Sydney for 2024, with contrasting predictions from SQM and Ray White due to differing views on the impact of higher interest. LINK
Global News
Hamas and Israel have managed a fragile ceasefire, with the former releasing 17 hostages, including 14 Israelis and one American, in a third exchange to sustain a four-day truce. LINK
Profits of China's industrial firms in October rose only by 2.7% year-on-year, showing a significant slowdown from the previous months' gains of 11.9% in September and 17.2% in August. LINK
Company News
Seek’s advertised salary index saw wages up 4.6% in the 12 months to October, up 0.3% from September. LINK
Optus appeals court ruling in an attempt to stop the release of Deloitte’s report on its 2022 cyberattack. LINK
Bendigo and Adelaide Bank, and fraud monitoring company Satori to trial CBA’s NameCheck anti-fraud technology, which will allow customers to see accounts they are transferring to match existing details. LINK
HSBC aims to fill the void left by Silicon Valley Bank's collapse in the start-up sector by introducing a venture debt product in Australia, offering high-growth venture-backed start-ups an alternative to traditional loans. LINK
Adore Beauty shares spiked by 20% after the online retailer rejected a $122M takeover bid from UK-based firm THG, with the founders holding a combined 21.67% stake. LINK
KPMG UK has imposed a salary freeze on its 12,000 employees amid a market downturn, with pay rises only granted to those receiving promotions. LINK
Billabong has been mandated to pay penalty rates to its retail staff for the first time in eight years following a termination of its outdated workplace agreement by the Fair Work Commission, highlighting an era of outdated "zombie" agreements being challenged for substandard wages. LINK
This Week’s Top Picks
Australian hospitality venues will soon need to disclose the origin of their seafood to customers, following the federal government's decision to mandate country of origin labelling. LINK
Potential housing density hotspots in Sydney are being discussed as politicians decide which suburbs will bear the brunt of meeting state housing targets. LINK
A remote working lawyer at Sydney intellectual property law firm Chrysiliou IP was found to have been unfairly dismissed for spending hours on non-work related online browsing, as the Fair Work Commission recognised the blend of personal and work activities in "the modern digitally connected era" and ruled that the browsing history didn't warrant immediate termination without notice. LINK