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Pizza Hut, An Assassination Attempt & Camel Dung Beer
Law graduates in Sydney break salary records, exceeding $100,000.
Pick & Scroll News
May 17, 2024
One Read, All Perspectives
Australian News
University reintroduces planning and surveying degrees in response to a national shortage. LINK
Crime and economic factors dampen Alice Springs property market. LINK
SA craft brewer introduces beer made with camel dung, innovating with unusual ingredients to stand out. LINK
Supermarkets switch to recyclable paper bags for mandarins, moving away from traditional plastic. LINK
Brisbane plans to remove car space requirements for downtown high-rises to lower housing costs and increase residential supply. LINK
Unemployment rate in Australia rises to 4.1% despite the creation of 38,500 jobs in April, signalling a reversal from recent lows. LINK
Australian winemakers advocate for vine removal to combat oversupply and rising costs impacting the $45 billion sector. LINK
New $100 fast-track service for Australian passport renewals will start from July 1, aimed at reducing the typical six-week waiting period. LINK
Migration restrictions could devastate Australia's $48 billion education export sector by requiring new colleges to have a 2-year track record with domestic students before they can recruit international students. LINK
Distant suburbs surge in price, joining Australia's most expensive housing markets due to strong demand for standalone homes. LINK
Law graduates in Sydney to break salary records, with starting salaries exceeding $100,000 amid competitive hiring practices. LINK
The Australian Defence Force faces recruitment challenges as it will only grow by 358 people next year, with a shortfall of 4,997. LINK
Australia's Boomer generation is set to transfer $5 trillion in wealth to their heirs. LINK
HR managers find it increasingly difficult to dismiss employees, even with valid reasons, due to legal protections for workplace rights. LINK
Universities may take legal action against campus protests demanding divestment from Israeli interests, with Melbourne University was forced to cancel classes. LINK
Global News
Scammers in South-East Asia utilise AI for 'pig butchering' scams, employing face-swapping technology to create deceptive video content to lure victims. LINK
Copper prices skyrocket due to a short squeeze in New York markets, impacting global trade. LINK
Biden and Trump set for televised debates, scheduled for June 27 and September 10. LINK
Slovakia's Prime Minister Robert Fico survives an assassination attempt, sparking widespread shock and concern just weeks before an election. LINK
Company News
Air Vanuatu faces severe financial crisis with $110 million in debt and only 2 operational aircraft. LINK
Major ransomware breach targets Australian electronic prescriptions provider MediSecure, compromising sensitive healthcare data. LINK
GrainCorp plans $500 million oilseed plant to capitalise on biofuels demand, boosted by federal budget incentives, amid competition with major agricultural firms. LINK
Fonterra to sell Australian dairy operations, including Bega Cheese and Western Star. LINK
Global crypto exchange OKX enters Australian market. LINK
Pizza Hut Australia fined $2.5 million for sending unsolicited marketing messages to millions of customers, half of which lacked an unsubscribe option, violating ACMA regulations. LINK
Aristocrat Leisure shares jump ~12% while it continues legal battle against rival Light & Wonder, claiming misappropriation of trade secrets in the development of the Dragon Train game. LINK
This Week’s Top Picks
Charles Sturt University researchers have managed to convert wool and hair into graphite for lithium batteries. LINK
Average Australian household spending is up 18% to $2,472 per week in the past 5 years. LINK
OpenAI launches a new AI voice assistant, GPT-4o, inspired by Hollywood AI depictions, featuring real-time voice interaction, enhanced multimedia capabilities and a desktop presence. LINK
Hedge funds target Qantas again, placing nearly $300 million in short bets against the airline as it navigates customer relations and regulatory challenges. LINK
Dyson introduces the WashG1, aiming to revolutionise the cleaning market by transforming traditional mopping with its innovative technology. LINK
Debate intensifies over making public transport free in Australia, as it ranks as the third most expensive globally. LINK
South Australian legislation aims to ban social media for children, but experts argue holding platforms accountable is a more effective approach. LINK
International airfares drop by an average of 13%, with significant price reductions to competitive destinations like Bali, New Zealand, and the US, according to Flight Centre data. LINK
Australia's radio industry sees a significant drop in advertising revenue, falling 23% from last year's peak due to higher interest rates and tough economic conditions. LINK
Nestle reveals 'shrinkflation' tactics in Australia, providing a Senate inquiry with details on how it reduced product sizes to manage cost pressures while maintaining prices. LINK
Western Australian government's spending surged by nearly 9% in FY23-24 due to unprecedented migration, pushing its population towards 3 million and straining public services like education and healthcare. LINK
Australian government's budget to include a $3 billion HECS debt relief, with plans to adjust debt indexing to the lower of WPI or CPI starting from last year to ease student financial pressures. LINK
New federal regulations aim to cap international student intakes, linking enrolment limits to university investments in student housing. LINK
Borrowing to invest in property remains more popular than shares among Australians due to the volatility and higher risks associated with share investment, despite the growing appeal of internally geared ETFs. LINK
Australian wage growth unexpectedly slowed from 15-year highs in the first quarter. LINK
Chinese asylum seekers are reportedly paying $15,000 to enter the US via Mexico. LINK
Macquarie slashes its ETF fees to 0.03%, intensifying price competition in Australia’s asset management sector. LINK