🗞️ Scam city

Good morning. Corporal punishment is back but not for the crimes you’d think.

Since 2020, Singaporeans have lost over $4B to scammers so the country has decided it will be bringing back mandatory “caning” to combat scammers.

Those guilty of scamming, members of scamming syndicates or those who facilitate scams will face punishments with at least 6 strokes of the cane.

All the headlines and more below...

AUSTRALIAN NEWS

Many GPs ‘nervous’ about bulk-billing rollout under new Medicare scheme

• Australia has expanded the Medicare bulk-billing incentive as it aims for 90% national coverage by 2030 whilst ensuring at least one practice in each electorate. LINK

• ACCC will ban 9 platforms for under-16s in Australia under a new regulation as non-compliance risks fines up to $49.5M. LINK

• Australia’s screen industry applauded new quotas as streamers like Netflix must now spend 10% of local budgets or 7.5% of revenue on Australian content. LINK

• Western Australians fear airfare rises after 2026 as the WA government remains silent on extending a regional cap scheme helping to limit flight costs. LINK

• Over 23,000 insurance claims followed severe QLD hailstorms as consumers were warned against scams from fast-repair operators offering poor-quality services. LINK

• Australia has begun cracking down on Russian oil products, investigating refined imports linked to sanctioned entities amid “blood oil” concerns. LINK 

• ASIC has issued a warning to Australia’s $224B private credit sector as it demands better transparency and risk disclosure following a major investigation. LINK

• Hundreds of Tasmanian landowners must approve access for the $3B Marinus Link project as its construction deadline approaches. LINK

• Australia’s housing market is surging despite stable rates as tight rental supply and strong buyer demand continue to drive up property prices. LINK

• Frequent flyers are booking low-cost overnight flights to earn airline gold status whilst unlocking priority perks for under $100 and a few points. LINK  

COMPANY NEWS

CBA and Temu among Choice’s 2025 Shonky Awards’ worst companies

• Choice’s 2025 Shonky Awards named CBA and Temu among the worst companies for poor customer practices and exploitative fees. LINK 

• Office romances have triggered a wave of CEO resignations as Nestlé dismissed Laurent Freixe for non-disclosure, marking the 8th such departure in the European consumer sector since September. LINK

• CBA has cut CommSec interest rates for large-balance customers while slightly increasing rates for those with lower balances. LINK

• Apple is developing a low-cost Mac laptop aimed at students and casual users with plans to launch it in 1H26 against Chromebooks and entry-level PCs. LINK

• EY proposed an independent panel to oversee high-risk consulting contracts as scrutiny grows over $855M in government spending and PwC's confidentiality breaches. LINK

• Colonial First State and AIA Australia have agreed to pay $140M to settle a class action over superannuation insurance overcharges from 2014 to 2022. LINK 

• A $420M merger between SCA and Seven West is expected to boost advertising strength and market resilience across Australia. LINK

• Australian National University has invested $138,000 in controversial arms maker Elbit Systems, reversing its earlier pledge to avoid such companies. LINK

• Goodman Group reaffirmed a 9% FY26 EPS growth target as strong AI data centre demand and tight property supply continue to support earnings. LINK

• Fitness & Lifestyle Group reduced its annual loss to $161.2M whilst managing a $2.2B debt load through a restructure extending repayments to 2028. LINK 

• PEXA Group reported a 26% UK remortgage market share as it saw 32% remortgage growth and retained 90% Australian market share through platform expansion. LINK

• ClearVue Technologies has signed a 3-year deal with South Korea’s Kukyoung Glass to produce solar-powered building facades as part of an Asia-Pacific sustainability focus. LINK 

• CSL expects US vaccine demand to rebound in the medium term as falling immunisation rates worsen public health despite current earnings pressure. LINK

CHART OF THE DAY

Global cloud market to exceed US$400B in 2025

ONE MORE SCROLL

Editor’s Pick: Is a low-salt diet as unhealthy as having too much?

Draft Pick: Family feud reignited as Beckham knighted.

Odd Pick: World’s first AI minister is “pregnant” with 83 offspring government announces.

TOGETHER WITH

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TRIVIA

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