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- Qantas Revamps Frequent Flyer, Uber vs GoCatch, and El Niño
Qantas Revamps Frequent Flyer, Uber vs GoCatch, and El Niño
Amazon expands "Just Walk Out" tech in AU, OpenAI transcribed 1M+ hours of YouTube videos, and The 3G network shutdown.
Pick & Scroll News
April 09, 2024
One Read, All Perspectives
Australian News
Mortgages for new home construction in Australia dropped to a 5-month low in February, even as investor and first home buyer loan commitments increased. LINK
Woolworths advocates for a mandatory food and grocery sector code of conduct to include all large retailers, such as Amazon and Costco, with potential fines up to $5.2 billion for non-compliance. LINK
Perth's house prices are forecasted to exceed $1 million within 3 years, with Sydney’s median approaching $2 million, driven by expected interest rate cuts and a persistent housing shortage. LINK
Over a million mobile phones risk losing the ability to call triple-0 as Australia prepares for the shutdown of the 3G network, with Telstra and Optus set to switch off their 3G services in the coming months. LINK
Global News
Oil prices declined, with Brent crude falling below $90/barrel, as Middle East tensions eased following Israel's troop withdrawals from southern Gaza and commitment to ceasefire talks. LINK
Company News
Adobe Stock is selling images of alleged indigenous art from West Bengal at a premium price, despite the original site selling them for about $4 and forbidding third-party copying. LINK
OpenAI transcribed over 1 million hours of YouTube videos to train GPT-4, despite concerns this may violate YouTube's rules against using its videos for independent applications. LINK
Bunnings and other food producers with large market power could fall under a new compulsory version of the Food and Grocery Code of Conduct. LINK
Alibaba Cloud announces up to 59% price cuts for products powered by offshore data centers, marking its third price reduction in the last 12 months. LINK
HSBC's European chief plans to boost the unit's contribution to group profit through rising regional wealth and overseas expansion by Asian corporate clients. LINK
Amazon continues to expand checkout-free shopping in Australia with the "Just Walk Out" technology, despite scaling back in the US. LINK
Elders faces a significant earnings downgrade due to the Bureau of Meteorology’s incorrect El Niño declaration, which led farmers to cull herds and negatively impacted agricultural markets. LINK
Life360 reports nearly 5 million new users in Q1, indicating strong growth following cost-cutting measures and a price increase for premium membership. LINK
Qantas revamps its frequent flyer program with the introduction of Classic Plus, offering over 20 million reward seats but at a potentially worse value compared to current offerings. LINK
GoCatch and Uber continue their legal battle over allegations of deceitful practices to lure drivers from each other. LINK
X (formerly Twitter) controversially offers free premium subscriptions and the platform's blue verification badge to several prominent accounts, sparking rejection and concerns. LINK
Federation University union members demand that its uni leaders resign following the announcement of plans to cut 12% of its staff, approximately 200 positions, to offset a $79 million revenue loss due to a significant drop in international student enrolments. LINK
This Week’s Top Picks
Australian insurers have incurred over $650 million in losses from home insurance over the past four years, with premiums set to rise further. LINK
Approximately 70,000 people aged 30 to 40 left Sydney between 2016 and 2021. LINK
Australia's cruise industry experiences a record-breaking summer with an influx of young travellers. LINK
Charter flights now carry 13% of all domestic air travellers in Australia, outpacing traditional airlines like Rex and Bonza. LINK
The number of independent brewers in Australia have increased significantly, but recent months have seen many small brewers facing financial difficulties or entering administration. LINK
Specialty and artisanal cheese varieties gain popularity as supermarket cheese prices reach $16/kg. LINK
Just 57 companies are identified as being responsible for 80% of the world's greenhouse gas emissions. LINK