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Rafael Nadal, Diabetes and Dog Owners
Australian electric vehicle tax, Highest CEO pay in Australia, and Satellite warfare.
Pick & Scroll News
December 04, 2023
One Read, All Perspectives
Australian News
Sydney's housing market to face a double-dip downturn as early as next month, with November seeing a slowdown in price growth. LINK
Australian federal, state and territory treasurers have agreed to collaborate on developing a nationwide electric vehicle tax regime. LINK
Irish accountants are increasingly moving to Sydney, making it their top global migration destination. LINK
Australian universities are seeing historically high international student applications for 2024, but increased visa refusals for non-genuine students may slow the overall number of international students coming into the country. LINK
A notable drop in inflation to 4.9% in October rules out a pre-Christmas rate hike, with the OECD predicting interest rates to start falling from mid-next year, driven by factors like rent assistance, lower petrol prices, and cheaper airfares. LINK
The national diabetes epidemic in Australia is putting immense strain on hospitals, with up to a third of patients in urban centers affected and kidney dialysis clinics at full capacity, especially in Central Australia. LINK
The median national property price has reached a record high of $753,654. LINK
The Greens propose a Senate inquiry to examine the dominance of Australia's major supermarkets, Coles and Woolworths, and address soaring grocery prices amid a 4.8% food inflation rate in 2023. LINK
Australia commits to tripling its renewable energy capacity by the end of the decade, joining over 100 countries in a global initiative announced at this year's UN climate talks. LINK
A high-tech facility for "deep-space object tracking" is being built on Western Australia's north-west coast as part of the AUKUS efforts, focusing on future warfare involving satellites. LINK
Independent cinema owners in regional South Australia face challenges in attracting audiences post-Covid, with concerns that upcoming US movie industry strikes could exacerbate their struggles. LINK
China's demand for Australian goat meat has increased dramatically, with exports rising over 4,000% since the start of the year, reaching 5,587 tonnes, making China the second largest market for this product. LINK
In Victoria, over $7.5M is spent on council Christmas decorations, with Melbourne City Council leading at more than $3M, despite many councils feeling the financial strain this festive season. LINK
The number of young Japanese applying to work and live in Australia has hit a new high this year, driven by low wages, rigid work culture, and a plunging yen in Japan, contributing to Australia’s record migration levels. LINK
Christmas costs are likely to increase due to shipping bottlenecks and conflicts in the Middle East and Europe. LINK
Canned tuna prices have risen 25% since July last year, with frozen vegetables up 18%, canned tomatoes up 12%, and canned beans up 11%. LINK
Company News
RBA economists will receive an 11.2% pay rise over three years and a one-off payment of $1000, following Governor Michele Bullock's successful negotiation of a new enterprise bargaining agreement. LINK
David Jones plans to reduce its presence at Westfield’s Bondi Junction shopping mall by handing back one of its four floors, as the retail revolution, accelerated by online shopping, reshapes traditional department store strategies. LINK
Premier Investments posted record Black Friday sales, with earnings seeing a 10% decline. LINK
Tesla unveiled its bullet-proof Cybertruck with prices ranging from US$61,000 ($92,000) to US$100,000 (A$151,000) and delivering the first batch to customers, though the vehicle's range and price differ from initial promises made by CEO Elon Musk. LINK
Macquarie Group CEO Shemara Wikramanayake remains Australia's highest-paid CEO for the third consecutive year, with her pay in 2022-23 rising nearly 30% to over $30M. LINK
The Police Association Victoria members have started industrial action, targeting revenue-raising speed cameras, as negotiations for a new deal on pay and conditions continue with Victoria Police and the state government. LINK
Other News
Rafael Nadal announced his return to tennis at the Brisbane International in January, marking his comeback to the sport after nearly a year's absence as he prepares for the Australian Open. LINK
Owning a dog can reduce the risk of developing dementia in old age by 40%, based on a four-year study of nearly 12,000 Tokyo residents aged over 65. LINK