🗞️ Skyfall

Good morning. The Qantas PR team have had a busy few years and they'll be ready for another three-day weekend after dealing with the headlines from this week:

• Qantas was fined $100 million over the sale of tickets for cancelled flights.

• Former Qantas CEO Alan Joyce will keep flying at the front of the plane for free until 2046.

• Qantas apologises for showing a 'sexually explicit film with graphic nudity' on all screens on a flight where the film could not be turned off.

Not a great way to start a family holiday.

All the headlines and more below...

AUSTRALIAN NEWS

University of Melbourne ranked 39th in world by Times Higher Education

• Australia's universities are facing financial challenges as 6 institutions remain in the global top 100, with the University of Melbourne ranked as the best at 39th. LINK

• Rising costs for energy, rent, insurance, and interest rates are putting financial pressure on small businesses in Australia, contributing to 11,049 insolvencies, particularly in the construction, retail, and hospitality sectors. LINK

• High construction costs and labour shortages have led to a 6.1% decline in new dwelling approvals across Australia, with a notable 16.5% drop in permits for multi-unit developments in August. LINK

• Australia's housing market is seeing its busiest spring for listings since 2015, with national new listings in September up 2.8% from August and 10.1% year-on-year. LINK

• NSW government's new fast-track planning regime allows for the development of 450 homes on a previously stalled office site in Parramatta. LINK

• Recent reforms in Australia's aged care system are prompting elderly individuals to prioritise paying for needed services over inheritance concerns. LINK

• The RBA is adopting a more cautious stance on interest rate cuts compared to countries like the US, New Zealand, Canada and the UK. LINK

• Uber is urging Australians to consider giving up their second car to alleviate the average weekly car cost of $364, improve fitness through increased walking and cycling, and address the $17B annual cost of traffic congestion. LINK

• The commercial property market has rebounded with total deal-making reaching $6.2B, a 40% increase from last year, driven by strong industrial sales and significant foreign investment in office transactions. LINK

• Some Halloween products purchased online are breaching Australia's product safety laws, with concerns over dangerous button batteries, flammable clothing and improperly labelled cosmetics. LINK

GLOBAL NEWS

Nobel Prize in physics awarded to two scientists for discoveries that enable machine learning

• John Hopfield and Geoffrey Hinton, known as the 'godfathers of AI,' were awarded the 2024 Nobel Prize in Physics for their foundational contributions to machine learning. LINK

• New Zealand's central bank cut interest rates by 50 basis points to 4.75%, anticipating more aggressive easing, which caused the kiwi dollar to drop 0.9% to $0.6084, the lowest level since August 19. LINK

COMPANY NEWS

Uniqlo owner seen posting 24% annual profit surge on brand's overseas push

• Fast Retailing, the owner of Uniqlo, is expected to report a 24% rise in annual operating profit to 478.3B yen, driven by its expansion in western markets and recovery in China, marking a 3rd consecutive year of record profits. LINK

• Medibank has announced it will double its 4-day workweek program for staff to 500 employees. LINK

• Qantas has issued an apology after an R-rated film, which featured nudity and sexual content, was inadvertently shown on all screens during a flight from Sydney to Tokyo. LINK

• Former Qantas CEO Alan Joyce will continue to enjoy free premium flights, valued in the millions, until 2046 as part of the airline's executive perks, which include access to 4 long-haul and 12 short-haul flights annually. LINK

• Food Ladder deployed AI greenhouses in remote communities to provide fresh produce and educate children on nutrition. LINK

• TikTok has been sued by 13 US states for allegedly harming young users through addictive software and misrepresentations about content moderation. LINK

• The US is contemplating a breakup of Google for illegally monopolising online search. LINK

• REA Group aims to leverage its investment in Athena Home Loans to expand into financial services, capitalising on the strong Australian property market spurred by high employment and stable interest rates. LINK

• Woodside Energy has completed its $1.2B acquisition of Tellurian, including its Gulf Coast LNG export project. LINK

CHART OF THE DAY

Top 10 Cities with Most Skyscrapers

ONE MORE SCROLL

Editor’s Pick: X fails to avoid Australia child safety fine by arguing Twitter doesn’t exist.

Draft Pick: Kansas City Chiefs player offers to cover $1.5M in stolen chicken wings to free woman.

Odd Pick: Surgeon operated with penknife he uses to cut up lunch.

PODCAST

🎧 Your morning wrap on-the-go LINK

BRAINTEASER

Coin collection

Here's a brainteaser to start your Thursday.

Five friends, Annie, Bailey, Cali, Dom and Ella, have started collecting old coins.

• Dom has 1 more coin than Annie.

• Bailey has 1 more than Ella.

• Cali has twice as many as Bailey.

• Dom has twice as many as Ella.

• Altogether, the five friends have a total of 26 coins.

Who has 4 coins?
A) Annie
B) Bailey
C) Cali
D) Dom

Answer below

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ANSWER

B) Bailey

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