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Right to Disconnect Law, Victa Lawnmowers & Medicinal Cannabis
Unprofitable ASX companies are averaging a 26% surge in share price.
Pick & Scroll News
May 21, 2024
One Read, All Perspectives
Australian News
Pay for emails sent out of hours is being pursued by the National Tertiary Education Union under Australia's new right to disconnect laws, aiming to compensate casual academics for after-hours communications. LINK
Energy preferences in Australia show natural gas overtaking wind as the second-most favoured source after solar, which maintains a dominant 75% approval rating. LINK
Doctors in Australia face millions in unpaid fees after eReports collapses, revealing undisclosed debts and misstated accounts. LINK
Western Australia faces significant challenges in meeting its net zero emissions target by 2050 without substantial changes, as current trends project record high greenhouse gas emissions this year. LINK
Unprofitable ASX companies are confounding analysts with an average 26% surge in their share prices. LINK
Employers are expressing concern over right to disconnect laws, stressing the need for flexible contact hours for certain sectors without overly restrictive disconnect rights. LINK
Global News
China's trade tensions with Europe may escalate into retaliation, as Beijing signals potential countermeasures in response to EU investigations into Chinese firms. LINK
Metal prices record a strong rally as copper and gold hit unprecedented highs, fuelled by a supply squeeze. LINK
New York's congestion pricing plan is set to tackle the increasing street congestion, making it the first city in the US. to implement such a strategy amid growing urban challenges. LINK
Iran's President Ebrahim Raisi died in a helicopter crash, a significant blow as he was a key contender to succeed the nation's supreme leader. LINK
Company News
Google's AI shift demands a redesign of business websites to adapt to its new AI-based search, encouraging concise and punchy web content to meet AI preferences. LINK
Michael Hill saw a poor trading update, with a significant drop in sales growth and margin pressures indicating challenges in consumer spending and confidence recovery. LINK
Qantas faces a curveball in its outsourcing case with a late strategic shift potentially leading to negligible compensation for nearly 1,700 unlawfully outsourced workers. LINK
Hard Rock Hotels proposes a rescue plan for Star Entertainment, aiming to rebrand and revitalise the struggling gaming group with a significant capital injection. LINK
Elders reports its poorest performance in 10 years, attributing the downturn to premature livestock sales and reduced chemical orders based on an inaccurate weather forecast predicting El Niño conditions. LINK
Nuix shares jumped 18% after the company announced it is set to exceed its annual revenue growth target, driven by a significant multi-year contract with a major software client. LINK
Virgin Australia has increased its lounge membership fees by 12.5% as it reintroduces a $99 joining fee, following Qantas in updating their pricing strategy for lounge access. LINK
Transurban has cautioned against drastic changes to the Sydney motorway network that could lead to higher tolls for drivers. LINK
NAB's investment in medicinal cannabis company Cann Group is dwindling as the company's market value plummets from $530 million to just $27 million. LINK
BHP's Pilbara deal averts industrial action with iron ore train drivers receiving a $40,000 bonus each, resolving a decade-long dispute over workplace agreements. LINK
TikTok and the US Justice Department seek a fast-track court ruling on the law mandating ByteDance to divest TikTok's US operations, aiming for a decision by December 6. LINK
Victa lawnmowers, an iconic Australian brand, is up for sale as US-based Briggs & Stratton plans to exit the region. LINK
This Week’s Top Picks
Childhood obesity risks increase with screen time during meals, as experts warn that this habit can significantly contribute to the obesity epidemic among children. LINK
Coles is leveraging AI and machine learning to predict liquor demand, aiming to enhance supply chain efficiency and responsiveness to consumer trends and seasonal changes. LINK
Westpac is reintroducing timesheets for employees earning up to US$140K to prevent underpayments due to excessive overtime, a measure that has been unpopular among high-earners. LINK