Qantas, Private School Fees and Uniqlo Sues Shein

Australian News

• Parents face increasing financial pressure from rising education costs, with public school expenses for a child now exceeding $92,000 from prep to year 12. LINK

• Electric vehicle (EV) prices are becoming more affordable due to cheaper batteries, while new emissions regulations may hike prices of petrol and diesel cars. LINK

• The Albanese government faces a $600 billion challenge in safely regulating AI, with an interim response highlighting reliance on US regulations. LINK

• Institutional investors are putting more pressure on companies for greater female representation in senior executive roles. LINK

• Truck drivers caution caravanners against using truck rest stops, highlighting the safety risk posed by missing fatigue breaks. LINK

• The introduction of smart ticketing on South East Queensland buses has been delayed due to global supply chain issues. LINK

• Cybersecurity analysts are in high demand in Australia, with a 57% increase in job ads, making it the most sought-after job role in the country. LINK

• New home building in Australia slumps to a decade low, hindered by rising costs and borrowing rates. LINK

• Housing affordability issues are driving demand towards more affordable outer ring suburbs, as buyers are priced out of suburban markets. LINK

• Private school parents should expect to double their budget, factoring in additional costs like uniforms and extracurricular activities, beyond tuition fees. LINK

Global News

• China's economy grew by 5.2% last year, one of its slowest rates in over three decades, amidst a property crisis and global instability. LINK

Company News

• The Australian Catholic University (ACU) confirms underpaying approximately 1,100 casual staff by around $3.6 million between 2016 and 2023. LINK

• OpenAI bans its tools for political campaigning, with Microsoft emphasising user responsibility to combat fake news in election years. LINK

• NAB appoints receivers to companies at the centre of an alleged Westpac fraud involving falsified invoices and a $15 million scheme. LINK

• Elon Musk, Tesla's CEO, demands a larger share and control in the company to lead advancements in robotics and artificial intelligence. LINK

• Telco Medion Australia is fined $259,440 for breaching anti-scam rules, leading to customer losses of over $160,000. LINK

• Qantas brand value plummets to 41st after a challenging year compared to 1st in 2019, while Woolworths becomes Australia's most valuable brand. LINK

• Goldman Sachs reports a 51% rise in profits, boosted by equity trading and wealth business revenue, despite a year of layoffs. LINK

• Uniqlo sues Chinese retailer Shein for allegedly copying its popular Round Mini Shoulder Bag, demanding cessation of sales and compensation. LINK

This Week’s Top Picks

• The ACCC considers legal action against a major supermarket chain for breaching consumer law, with Qantas also under scrutiny. LINK

• Bali's popularity among Australian tourists has surpasses pre-pandemic levels, with November 2023 seeing more visitors than in November 2019. LINK

• Australia's ETF industry is projected to reach $220B in 2024, following a 33% growth. LINK

• Sydney commuters face delays due to daily strikes by wire-drawn ferry operators. LINK

• Vodafone increases mobile plan prices by 6-9%, attributing the hike to high operating costs and ongoing network investments. LINK

• Looking for a job is now harder with Seek reporting a 17.4% decline in job ads over the past year. LINK

• Sydney's first metropolitan e-scooter trial has commenced in Kogarah, with 60 scooters available for use on roads with 50km/h speed limits within the trial area. LINK

• Online retailer The Iconic's lack of payment verification measures exposes its 2.1M customers to potential fraud. LINK

• Hertz plans to sell a third of its US electric vehicle fleet and shift back to petrol-powered cars, citing weak demand and high repair costs for EVs. LINK

• Perth experienced the highest increase in rental prices in 2023, with some tenants facing weekly increases. LINK

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