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SpaceX, Domain and PS5
Nokia's new AI assistant, Record global military spend, and Female superfunds outpace males.
Pick & Scroll News
February 15, 2024
One Read, All Perspectives
Australian News
A report from the ATO shows female SMSF members' average balances increased by 23% to $736,000, outpacing male members' growth. LINK
Australia's Defence faces challenges with a shortfall of over 4,300 personnel and budget constraints. LINK
The Department of Employment and Workplace Relations insists that public servants working from home remain engaged and productive, with a third having formal flexible work arrangements. LINK
Global News
Global military spending reached a record US$2.2 trillion ($3.4 trillion) in 2023, driven by ongoing conflicts and strategic instabilities. LINK
Company News
CBA defends its mortgage strategy as its share of net-interest income grows, despite a fall in market share and a 3% drop in cash profit to $5 billion in the first half of the financial year. LINK
GrainCorp anticipates a significant decrease in earnings and profit due to a decline from record farm production levels, with expected EBITDA between $270 million to $310 million. LINK
Paramount Global plans to cut jobs at Network 10 in Australia as part of a global cost-reduction strategy. LINK
Qantas employs charter aircraft and pilots as a countermeasure to extended industrial action by Network Aviation pilots in Western Australia. LINK
Domain Holdings reports growth in Sydney and Melbourne property listings, despite national declines, as homeowner confidence rises with speculation that interest rates have peaked. LINK
Nokia unveils AI assistant, MX Workmate, for industrial workers. LINK
Dexus anticipates a recovery in commercial property markets later this year, despite facing property writedowns leading to a first-half loss of $597.2 million. LINK
Musk's SpaceX fined after 'near amputation' suffered by worker, with 600+ other injuries unreported. LINK
AGL aims to restore Victoria's largest coal power station within 24 hours after storms caused widespread outages. LINK
Sony slashes PS5 sales forecasts for the year ending March from 25 million units to 21 million units. LINK
CBA reports an increase in home loan customers facing financial hardship, with over 7,000 cases. LINK
ESPN Bet plans launch in New York, the largest US betting market. LINK
The Federal Court fines Mazda $11.5 million for misleading customers about serious faults with their cars. LINK
This Week’s Top Picks
The ATO investigates over 150 staff involved in a GST fraud scheme popularised on TikTok, with some facing termination or criminal charges. LINK
Valentine's Day chocolate prices reach record highs due to a global cocoa shortage. LINK
NSW residents rush to claim part of the $167 million refunded under the toll rebate program before it is replaced by a weekly cap. LINK
Domestic airfares decrease from 2022 levels, but flight reliability drops, according to an ACCC report highlighting increased competition in the aviation sector. LINK
Bitcoin is on the brink of its longest winning streak in a year, driven by strong ETF inflows. LINK
Sydney's inner west, eastern suburbs, and northern beaches are the tightest housing markets in Australia, with only about 0.3% of homes available for purchase. LINK
Large consultancies continue to dominate graduate employment, though the extravagant starting salaries and bonuses seen in 2023 are moderating. LINK
Stamp duty costs have quintupled for Australians in one generation, affecting decisions on moving, job changes, and family planning. LINK
The return to office has stalled as companies accept hybrid work routines of no more than three days a week in-office. LINK
Some universities are cancelling offers to international students from India and Nepal amid a visa crackdown. LINK
Australian managed funds lost a record net $31 billion in 2023, with the ETF industry set to triple in size this decade. LINK
Foreign buyer surcharges of up to 10% are discouraging apartment purchases in Australia by investors from China and Hong Kong - the number of foreign purchases in Australia dipped to $1.5 billion in the September quarter from $2.4 billion in June 2023. LINK