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Pink Barbiecue Sauce, Telegram and GTA
Housing affordability at worst level in over 20 years, averaging almost 50% of income for new mortgages..
Pick & Scroll News
April 18, 2024
One Read, All Perspectives
Australian News
Viva Energy warns that while Sydney's fuel prices have peaked, motorists in Brisbane and Melbourne should brace for increases within the next 2 weeks due to high service station charges. LINK
Business insolvencies in Australia have reached a record high, with significant debts owed to the Australian Taxation Office indicating likely further collapses, particularly affecting businesses in southwest and western Sydney and southeast Queensland. LINK
Housing affordability has deteriorated to its worst level in over 2 decades, with the average income portion needed for a new mortgage soaring to 48.9%, as reported by ANZ. LINK
Record high company collapses in March, with over 1,200 companies entering external administration, spotlight the construction industry's prominence in tax payment defaults and ongoing economic pressures. LINK
Coles and Woolworths face stock shortages in WA due to flooding, with dairy and meat supplies affected; improvements are expected as delivery backlogs clear. LINK
Global News
UK inflation slowed less than expected in March, rising by 3.2%, which was slightly above forecasts, highlighting persistent price pressures and influencing central bankers' hesitancy to cut interest rates. LINK
The IMF warns of potential global asset sell-offs due to re-accelerating inflation and strong US retail sales, alongside geopolitical tensions in the Middle East, all of which threaten to keep interest rates high. LINK
Company News
YouTube targets ad-blocking software, warning that users employing these tools may experience restricted access to videos or face buffering issues. LINK
Kraft Heinz introduces pink 'Barbiecue' sauce, a vegan BBQ sauce themed after the blockbuster film 'Barbie', currently available in the UK and Spain, with potential plans to expand to Australia. LINK
Westfield Bondi Junction's security practices questioned following a stabbing incident, as retail managers report a lack of armed offender drills. LINK
Bank of Queensland reports a 33% drop in half-year cash profits and has reduced its dividend due to inflation and higher funding costs impacting margins. LINK
Amazon plans major expansion in Western Sydney, announcing 2 new fulfilment centres to enhance delivery services across Australia, one of which will be more than 4 times the size of the Sydney Opera House. LINK
Qantas joins the Aviation Circularity Consortium to repurpose parts from retired aircraft, supporting the airline's goal of achieving net-zero emissions by 2050. LINK
Afterpay adjusts credit limits ahead of new regulations, increasing the maximum to $4,000 for Australian customers who meet new creditworthiness criteria. LINK
UTS student falsely accused of Bondi Junction stabbing seeks legal redress, demanding an apology and compensation from Channel 7 for defamation. LINK
LVMH reports a 3% sales growth slowdown in Q1, attributed to high product prices and global economic concerns, especially impacting luxury goods consumption. LINK
Intel to launch two AI chips specifically for China in compliance with US export controls, with releases scheduled for June and September. LINK
Adidas increases its 2024 profit forecast to €700 million from €500 million following a strong Q1, despite recent financial struggles. LINK
Apple explores potential for a new manufacturing facility in Indonesia, with CEO Tim Cook discussing expansion plans with President Joko Widodo during his visit to Jakarta. LINK
Telegram's user base expected to reach 1 billion within the next year, according to founder Pavel Durov. LINK
Jarden's local banking business reports a profit of NZ$18.4 million for the year ending March 31, marking a turnaround after several challenging years of heavy cost reductions and staff cuts. LINK
Morgan Stanley reports a Q1 profit surge, driven by strong performances in investment banking and wealth management. LINK
HSBC plans further cuts in its Asia investment banking sector, with an additional 20 jobs expected to be eliminated due to a downturn in deals, bringing this week's total layoffs to about 30. LINK
GTA’s Take-Two Interactive announces layoffs, cutting 5% of its workforce and discontinuing several projects as part of a cost-reduction strategy. LINK
This Week’s Top Picks
12 large suppliers account for half of the total retail value of the fruit and veggie market. LINK
A study by Australian universities predicts that full adoption of artificial intelligence across key industries could boost the Australian economy by over $200 billion annually by the end of the decade, adding 150,000 jobs. LINK
Half of the lawyers in Australia and New Zealand are using generative AI for daily tasks, with almost all believing it will transform legal work. LINK
Australians' consumption of major food groups, including vegetables, fruit and milk, has declined, with total food and beverage sales dropping by 1.9% in the last year. LINK12 large suppliers account for half of the total retail value of the fruit and veggie market. LINK
A study by Australian universities predicts that full adoption of artificial intelligence across key industries could boost the Australian economy by over $200 billion annually by the end of the decade, adding 150,000 jobs. LINK
Half of the lawyers in Australia and New Zealand are using generative AI for daily tasks, with almost all believing it will transform legal work. LINK
Australians' consumption of major food groups, including vegetables, fruit and milk, has declined, with total food and beverage sales dropping by 1.9% in the last year. LINK
Petrol prices in Sydney have reached a record high of $2.23 per litre, exacerbated by escalating tensions in the Middle East that could further increase Brent Crude prices. LINK
Australian workers may soon be able to double their annual leave by taking it at half pay, a new flexibility measure under consideration by the workplace umpire and supported by unions and employer groups. LINK
Analysis of student papers shows increasing AI assistance, with about 11% of papers over the past year displaying signs of AI help, and 3% containing at least 80% AI-generated content. LINK
Revenue at holiday and caravan parks surged over the summer due to cost-of-living pressures, with families opting for more affordable vacation options, showing a 12% increase in average revenue and higher occupancy rates. LINK
Board games are being redesigned for the TikTok generation, focusing on faster, simpler gameplay to engage younger players who prefer quick, digestible content. LINK
Golf ranges, hairdressers and dentists are seeing a boost on weekdays due to work from home trends. LINK
Single women in Australia are nearly matching men in home buying, although the total number of solo borrowers is declining due to increasing serviceability challenges. LINK
The Australian government considers significant visa fee increases for international students, possibly including a hard cap on approvals, to manage migration levels ahead of elections. LINK
Australia Post to reduce letter delivery frequency to every second business day starting Monday, aiming to enhance parcel collection and delivery services. LINK