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Qantas, Tesla and Salesforce
Woolworths NZ introduces body cameras following a 75% rise in physical assaults on staff.
Pick & Scroll News
April 23, 2024
One Read, All Perspectives
Australian News
Home ownership affordability declines as CoreLogic data reveals a significant drop in suburbs where buying is cheaper than renting; only 2.5% of suburbs for houses and 10.8% for units are now more affordable to buy. LINK
Citi advises selling shares in major banks, predicting political pressure will force banks to pass on rate cuts, negatively impacting their earnings and performance. LINK
NAB forecasts wage growth to cap at 3% annually, citing a historical low in productivity growth and the end of the mining boom's benefits. LINK
Controversy over Labor's superannuation tax increase, as experts warn of potential double taxation for retirees with balances over $3 million. LINK
NSW likely to lose AAA credit rating, with Treasurer Daniel Mookhey citing unfavourable GST distribution as a major factor. LINK
Sydney Airport's domestic flights lag behind pre-pandemic levels, with CEO Scott Charlton citing high airfares and reduced business class travel as key factors. LINK
Coccidiosis suspected in death of 150 NT cattle, with occurrences both on a live export ship and a Darwin depot; investigations indicate little could have been done to prevent the deaths. LINK
Global News
Pregnancy accelerates biological ageing, with a new Columbia University study showing that each child ages a woman internally by up to 2.8 months despite previous findings highlighting long-term health benefits. LINK
Bitcoin halving impacts miners, prompting diversification into artificial intelligence infrastructure to offset revenue loss from reduced bitcoin issuance. LINK
Company News
Macquarie exits car lending, shifting focus to mortgages and deposits, leading to approximately 100 job losses. LINK
BHP employs Deloitte to find a resolution to its staff underpayments as it rolls out $435 million in worker compensation and sets up a secure portal for ex-staff claims, following a decade-long leave deduction error. LINK
Virgin Australia’s Velocity program reaches 12 million members, following a significant membership increase driven by a new partnership with Chinese ride-share service DiDi and disenchanted Qantas customers. LINK
Betashares introduces geared ETFs aimed at retail investors. LINK
Qantas to offer free Wi-Fi on international flights, expanding its existing domestic service to global routes starting late 2024, with full implementation expected by mid-2026. LINK
Woolworths New Zealand introduces body cameras across all stores to enhance safety, following a 75% rise in physical assaults on staff. LINK
Global energy transition investment reached $1.8 trillion in 2023, but BlackRock warns an annual $4 trillion is required by the mid-2030s. LINK
Tesla braces for its weakest quarterly performance in 7 years due to reduced demand and intense price competition, prompting speculation about strategic shifts away from more affordable models to prioritise "robotaxis." LINK
Woolworths argues against store shut downs, citing potential price increases and supply disruptions, amid suggestions by the Greens to curb its market power which could stifle investment and elevate food prices further. LINK
Star Entertainment admits repeat fraud is possible due to unresolved cultural issues despite technology improvements, following a $3.2 million fraud involving ticket machines at their casinos. LINK
Nike faces internal backlash over layoffs, with employees criticising CEO John Donahoe’s accountability during a company-wide meeting following the announcement of 1,600 job cuts. LINK
Tesla slashes vehicle prices globally amid sales decline and competitive pressures, especially from Chinese electric vehicle makers, marking a significant shift in its pricing strategy. LINK
Air New Zealand reduces its earnings forecast, citing economic challenges and a cost-of-living crisis affecting revenues, leading to a steep decline in its share price. LINK
Salesforce ends acquisition talks with Informatica, unable to agree on terms, marking a halt to what could have been one of its largest deals. LINK