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🗞️ Pay cut
Australian National University has asked its staff to forgo their pay rise in a bid to cut costs and "save jobs". We thought we would ask the question.
Pick & Scroll News
October 16, 2024
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Good morning. Australian National University has asked its staff to forgo their pay rise in a bid to cut costs and "save jobs". We thought we would ask the question.
Would you forgo a 2.5% pay rise for the greater good? |
Results will be in our email tomorrow.
All the headlines and more below...
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AUSTRALIAN NEWS
RBA puts payment industry on notice to protect shops, restaurants
The Australian government plans to ban unfair debit card surcharges by 2026 and has allocated $2.1M to the ACCC to address excessive fees. LINK
The government plans to introduce a phased-in flat daily fee for childcare, rejecting a proposal to increase subsidies. LINK
The NSW government is introducing reforms to support nightlife by designating Special Entertainment Precincts and adding a warning to property planning certificates for residents near hospitality venues. LINK
Flight Centre data reveals that international economy airfares have decreased by 5-10% on average, with significant drops on key routes, while domestic airfares have risen by 3-5% in the same period. LINK
GLOBAL NEWS
Japan joins the race to woo digital nomads
Japan is implementing initiatives like special visas and networking events to attract digital nomads who seek flexible remote work opportunities. LINK
The IMF announced that global public debt is set to exceed US$100T in 2024, with projections indicating it could reach 93% of global GDP by the end of 2024 and approach 100% by 2030 due to increased spending pressures and slow growth. LINK
India and China process approximately 70 billion transactions annually through QR code technology. LINK
Three US-based scholars, Simon Johnson, James Robinson, and Daron Acemoglu, were awarded the 2024 Nobel Prize in Economics for their research on the historical roots of global inequality and the impact of institutions on prosperity in countries affected by colonisation, corruption and dictatorship. LINK
COMPANY NEWS
ANU asks its staff to waive pay rises to save jobs
The Australian National University is requesting staff to voluntarily forgo a 2.5% pay rise, worth approximately $14M, to help cut $250M in costs due to a decline in foreign student revenue. LINK
KPMG Australia's consulting arm plans to offload 44,000 hours of work to lower-cost overseas employees this financial year, primarily in technical advisory areas, as part of a strategy to have only half of its consulting work done by in-house advisers within 2 years. LINK
Drone delivery start-up Swoop Aero has entered administration just 2 years after rejecting a $100M takeover, amid disputes with major investors over production practices. LINK
Crown Melbourne has been fined $2M by Victorian regulators for allowing 242 self-excluded gamblers to place bets over 8 months. LINK
ANZ has engaged consulting firm Oliver Wyman to evaluate the workplace culture of its markets division amid ongoing investigations into alleged market manipulation and internal misconduct. LINK
Nvidia's shares closed at a record high of US$138.07, boosting its market value to US$3.39T and positioning it to potentially surpass Apple's US$3.52T as the world's most valuable company amid strong demand for AI processors. LINK
CHART OF THE DAY
Trump’s maximal tariffs would wipe out most trade with China
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