🗞️ Pringles x Snickers

Good morning. Lots of athletes don't receive money for winning medals at the Olympics. On the other hand, Carlos Yulo from the Philippines who won the second ever gold for his country wins 13 million pesos (A$348,000) plus:

• A fully furnished two-bedroom condo valued at 24 million Philippine pesos (~A$642,000).

• A lifetime of free colonoscopies and gastroenterology consultations, but only once he turns 45 - Yulo is 24 years old.

• 100,000 Philippine pesos’ worth of free furniture

• A lifetime of free ramen, free buffets and free meals from numerous local establishments.

• A lifetime of free engineering design by Nexa Engineering (whatever that is).

And lifetime hero status. Not bad!

All the headlines and more below...

PARIS OLYMPICS 2024

• Australia’s Noemie Fox has won the first-ever gold medal in the women’s kayak cross event.

• Heartbreak for Australia’s Hockeyroos after a 3-2 defeat to China in the quarter-finals.

AUSTRALIAN NEWS

Extremism rising across the board makes terror attack ‘probable’

• Australia raised its terrorism threat level for the first time since 2014 as fears grow about online radicalisation and public anger over the Israel-Hamas war. LINK

• Australia exported a record 130,000 tonnes of beef in July, driven by strong international demand and larger carcass weights. LINK

• Sydney Airport's slot management, currently dominated by Qantas and Virgin, will be revamped by the government to address slot hoarding and improve access for other airlines. LINK

• Australian universities will cap international student enrolments at 40% for 2 years, reverting to 2019 levels. LINK

• The NSW government has mandated that more than 400,000 public servants return to office full-time amid productivity concerns. LINK

• The Productivity Commission will investigate the challenges in home building, including government red tape and workforce issues. LINK

• The ASX 200 experienced its worst sell-off in 4 years, dropping 3.7% or $100B as recession fears in the US triggered panic across global markets - the US unemployment rate hit 4.3%, its highest since October 2021. LINK

GLOBAL NEWS

Bangladeshi prime minister has resigned and fled the country after months of protests

• The Bangladesh Prime Minister has resigned and fled the country after months of protests. LINK

• Bitcoin (down 15%) and Ethereum (down 22%) plunged to multi-month lows in the past 24 hours as fears of a US recession spurred a sell-off in risky assets. LINK

• North Korea has deployed 250 ballistic missile launchers to its border. LINK

• Big tech is failing to convince investors that AI is paying off. LINK

COMPANY NEWS

Mars is considering acquiring the maker of Cheez-It and Pringles

• Chocolate maker Mars is considering acquiring Kellanova, maker of Cheez-It and Pringles, in a potential US$27B deal. LINK

• OpenAI has developed a watermarking method for detecting text written by ChatGPT with 99.9% reliability. LINK

• ASIC granted whistleblower status to an ANZ employee who raised concerns about conduct in the bank's markets division. LINK

• EnergyAustralia returned to profitability in the June half driven by higher wholesale prices amid low renewable power generation. LINK

• Musk’s Neuralink successfully implanted its device in a second patient, allowing them to use digital devices through thought alone. LINK

• Apple has demanded Tencent and ByteDance close loopholes used by their in-app creators to funnel users to external payment systems. LINK

• Google pulled an Olympics TV ad where a father uses Gemini to help his daughter write a personal letter to an athlete, after criticisms that the ad is tone-deaf. LINK

• Ramsay Health Care forecasted lower full-year earnings due to writedowns on its European operations and lower-than-expected capital expenditure in its Australian hospitals. LINK

CHART OF THE DAY

Destinations for Millionaires in 2024

• New York City is reportedly the wealthiest city globally with $3T in total wealth and 349,500 millionaires.

• Shenzhen, China is the fastest-growing city for the wealthy, with a 140% increase in millionaires over the past decade.

• Bengaluru, Scottsdale and Ho Chi Minh City each saw over 100% growth in millionaire populations in the last 10 years.

COUNTRY MANIA

It’s Game Time

Country of the Week: Bolivia, gained independence from Spain on August 6, 1825 which means they celebrate their national day today. Can you answer the 5 questions below about Bolivia?

1. Name one bordering country (or all 5 if you're 'that guy')

2. Is Bolivia landlocked?

3. What is the primary language spoken?

4. What is the capital?

5. What are the 3 colours on the national flag?

Answers below

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ANSWERS

1. Any of, Brazil, Paraguay, Argentina, Chile and Peru
2. Yes
3. Spanish
4. Bolivia has two capital cities. Sucre is the constitutional capital, and La Paz is the administrative capital.
5. Red, Yellow, Green